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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Compensation [Abstract] |
Schedule of Restricted Stock Outstanding | A summary of the Company’s outstanding and unearned RSUs is presented below:
|  | RSUs |  |  | Weighted-Average Grant-Date Fair Value Per Share |
Units outstanding and unearned at January 1, 2021 |  |  | 115,780 |  |  | $ | 15.27 |
RSUs granted during 2021 |  |  | 58,700 |  |  |  | 18.76 |
RSUs earned during 2021 |  |  | (66,100 | ) |  |  | 15.77 |
Units outstanding and unearned at December 31, 2021 |  |  | 108,380 |  |  |  | 16.86 |
RSUs granted during 2022 |  |  | 59,600 |  |  |  | 17.61 |
RSUs earned during 2022 |  |  | (52,620 | ) |  |  | 17.39 |
Units outstanding and unearned at December 31, 2022 |  |  | 115,360 |  |  |  | 17.00 |
RSUs granted during 2023 |  |  | 85,000 |  |  |  | 13.76 |
RSUs earned during 2023 |  |  | (53,780 | ) |  |  | 16.32 |
Units outstanding and unearned at December 31, 2023 |  |  | 146,580 |  |  | $ | 15.37 |
Schedule of RSU Activity | The following table shows the impact of RSU activity to the Company’s financial results:
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
RSU compensation expense |  | $ | 1,095 |  |  | $ | 952 |  |  | $ | 1,065 |
Income tax benefit |  |  | (249 | ) |  |  | (216 | ) |  |  | (242 | )
RSU compensation expense, net of income taxes |  | $ | 846 |  |  | $ | 736 |  |  | $ | 823 |
Total grant-date fair value of vested RSUs at end of period |  | $ | 872 |  |  | $ | 915 |  |  | $ | 1,042 |
Schedule of Performance Stock Outstanding | A summary of the Company’s outstanding PSUs is presented below:
|  | PSUs |  |  | Weighted-Average Grant-Date Fair Value Per Share |
Units outstanding at January 1, 2021 |  |  | 174,600 |  |  | $ | 15.15 |
PSUs granted during 2021 (at target) |  |  | 64,600 |  |  |  | 18.64 |
PSUs earned during 2021 |  |  | (70,363 | ) |  |  | 16.25 |
Performance adjustment (1) |  |  | 24,300 |  |  |  | 16.25 |
Forfeitures |  |  | (2,537 | ) |  |  | 16.25 |
Units outstanding at December 31, 2021 |  |  | 190,600 |  |  |  | 16.06 |
PSUs granted during 2022 (at target) |  |  | 61,800 |  |  |  | 18.10 |
PSUs earned during 2022 |  |  | (86,684 | ) |  |  | 15.21 |
Performance adjustment (1) |  |  | 31,200 |  |  |  | 15.21 |
Forfeitures |  |  | (6,916 | ) |  |  | 15.21 |
Units outstanding at December 31, 2022 |  |  | 190,000 |  |  |  | 17.00 |
PSUs granted during 2023 (at target) |  |  | 87,400 |  |  |  | 13.85 |
PSUs earned during 2023 |  |  | — |  |  |  | — |
Performance adjustment (1) |  |  | (63,600 | ) |  |  | 14.26 |
Forfeitures |  |  | — |  |  |  | — |
Units outstanding at December 31, 2023 |  |  | 213,800 |  |  | $ | 16.53 |
(1) Represents the change in PSUs issued based upon the attainment of performance goals established by the Company.
Schedule of PSU Activity | The following table shows the impact of PSU activity to the Company’s financial results:
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
PSU compensation expense (benefit) |  | $ | 206 |  |  | $ | (1,022 | ) |  | $ | 1,344 |
Income tax expense (benefit) |  |  | (47 | ) |  |  | 232 |  |  |  | (305 | )
PSU compensation expense (benefit), net of income taxes |  | $ | 159 |  |  | $ | (790 | ) |  | $ | 1,039 |
Total grant-date fair value of vested PSUs at end of period |  | $ | — |  |  | $ | 1,319 |  |  | $ | 1,143 |

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