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Share-Based Compensation
 6 Months Ended
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 ExpenseWeighted-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 SharesWeighted-Average Exercise Price Per ShareWeighted-Average Contractual TermAggregated 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 SharesWeighted-Average Exercise Price Per ShareWeighted-Average Contractual TermAggregated Intrinsic Value
Outstanding at beginning of period369,680 $15.98 5.73 years$2,097 
Granted5,000 $24.33 10.00 years
Exercised(22,200)$14.08 3.89 years
Outstanding at end of period352,480 $16.21 5.40 years$4,285 
Exercisable at end of period255,161 $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 SharesWeighted-Average Exercise Price Per ShareNumber of SharesWeighted-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 SharesWeighted-Average Grant Date Fair Value Per ShareNumber of SharesWeighted-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