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Share-Based Compensation | 6 Months Ended
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Jun. 30, 2026
Share-Based Payment Arrangement [Abstract] |
Share-Based Compensation | Share-Based Compensation On May 25, 2023, the Company adopted the 2023 Equity Based Compensation Plan (“2023 EBC Plan”) approved by its shareholders to replace the 2013 Equity Based Stock Compensation Plan. The 2023 EBC Plan provides 700,000 shares of common stock for share-based compensation awards including incentive and non-qualified stock options, and restricted stock awards. As of June 30, 2026, there were 373,100 shares available for future grants. Share-Based Compensation Expense The following table presents share-based compensation expense and the related tax benefits for the periods indicated:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
($ in thousands) |  | 2026 |  | 2025 |  | 2026 |  | 2025
Share-based compensation expense related to: |  |  |  |  |  |  |  |
Stock options |  | $ | 68 |  |  | $ | 69 |  |  | $ | 134 |  |  | $ | 137 |
Restricted stock awards |  | 165 |  |  | 163 |  |  | 329 |  |  | 325 |
Total share-based compensation expense |  | $ | 233 |  |  | $ | 232 |  |  | $ | 463 |  |  | $ | 462 |
Related tax benefits |  | $ | 63 |  |  | $ | 61 |  |  | $ | 124 |  |  | $ | 122 |
The following table presents unrecognized share-based compensation expense as of the date indicated:
|  | June 30, 2026
($ in thousands) |  | Unrecognized Expense |  | Weighted-Average Remaining Expected Recognition Period
Unrecognized share-based compensation expense related to: |  |  |  |
Stock options |  | $ | 141 |  |  | 1.7 years
Restricted stock awards |  | 1,393 |  |  | 2.4 years
Total unrecognized share-based compensation expense |  | $ | 1,534 |  |  | 2.3 years
Stock Options The following tables represent stock option activity for the periods indicated:
|  | Three Months Ended June 30, 2026
($ in thousands except per share data) |  | Number of Shares |  | Weighted-Average Exercise Price Per Share |  | Weighted-Average Contractual Term |  | Aggregated Intrinsic Value
Outstanding at beginning of period |  | 359,680 |  |  | $ | 16.11 |  |  | 5.50 years |  | $ | 2,295 |
Granted |  | 5,000 |  |  | $ | 24.33 |  |  | 10.00 years |  |
Exercised |  | (12,200) |  |  | $ | 16.44 |  |  | 3.05 years |  |
Outstanding at end of period |  | 352,480 |  |  | $ | 16.21 |  |  | 5.40 years |  | $ | 4,285 |
Exercisable at end of period |  | 255,161 |  |  | $ | 16.15 |  |  | 4.67 years |  | $ | 3,118 |
|  | Six Months Ended June 30, 2026
($ in thousands except per share data) |  | Number of Shares |  | Weighted-Average Exercise Price Per Share |  | Weighted-Average Contractual Term |  | Aggregated Intrinsic Value
Outstanding at beginning of period |  | 369,680 |  |  | $ | 15.98 |  |  | 5.73 years |  | $ | 2,097 |
Granted |  | 5,000 |  |  | $ | 24.33 |  |  | 10.00 years |  |
Exercised |  | (22,200) |  |  | $ | 14.08 |  |  | 3.89 years |  |
Outstanding at end of period |  | 352,480 |  |  | $ | 16.21 |  |  | 5.40 years |  | $ | 4,285 |
Exercisable at end of period |  | 255,161 |  |  | $ | 16.15 |  |  | 4.67 years |  | $ | 3,118 |
The following table represents information regarding unvested stock options for the periods indicated:
|  | Three Months Ended June 30, 2026 |  | Six Months Ended June 30, 2026
|  | Number of Shares |  | Weighted-Average Exercise Price Per Share |  | Number of Shares |  | Weighted-Average Exercise Price Per Share
Outstanding at beginning of period |  | 92,319 |  |  | $ | 15.95 |  |  | 98,319 |  |  | $ | 16.16 |
Granted |  | 5,000 |  |  | $ | 24.33 |  |  | 5,000 |  |  | $ | 24.33 |
Vested |  | — |  |  | $ | — |  |  | (6,000) |  |  | $ | 19.46 |
Outstanding at end of period |  | 97,319 |  |  | $ | 16.38 |  |  | 97,319 |  |  | $ | 16.38 |
Restricted Stock Awards The following table represents restricted stock award activity for the periods indicated:
|  | Three Months Ended June 30, 2026 |  | Six Months Ended June 30, 2026
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value Per Share |  | Number of Shares |  | Weighted-Average Grant Date Fair Value Per Share
Outstanding at beginning of period |  | 85,850 |  |  | $ | 20.43 |  |  | 90,850 |  |  | $ | 20.52 |
Vested |  | — |  |  | $ | — |  |  | (5,000) |  |  | $ | 21.96 |
Outstanding at end of period |  | 85,850 |  |  | $ | 20.43 |  |  | 85,850 |  |  | $ | 20.43 |

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