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Share-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2024
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, 2023 |  |  | 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 |
RSUs granted during 2024 |  |  | 103,600 |  |  |  | 14.45 |
RSUs earned during 2024 |  |  | (69,420 | ) |  |  | 14.82 |
Units outstanding and unearned at June 30, 2024 |  |  | 180,760 |  |  |  | 15.06 |
Schedule of RSU Activity | The following table shows the impact of RSU activity to the Company’s financial results:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
RSU compensation expense |  | $ | 371 |  |  | $ | 257 |  |  | $ | 767 |  |  | $ | 559 |
Income tax benefit |  |  | (84 | ) |  |  | (58 | ) |  |  | (174 | ) |  |  | (127 | )
RSU compensation expense, net of income taxes |  | $ | 287 |  |  | $ | 199 |  |  | $ | 593 |  |  | $ | 432 |
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, 2023 |  |  | 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 |
PSUs granted during 2024 (at target) |  |  | 79,800 |  |  |  | 14.19 |
PSUs earned during 2024 |  |  | — |  |  |  | — |
Performance adjustment (1) |  |  | (64,600 | ) |  |  | 18.64 |
Forfeitures |  |  | — |  |  |  | — |
Units outstanding at June 30, 2024 |  |  | 229,000 |  |  |  | 15.12 |
(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:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
PSU compensation expense |  | $ | 184 |  |  | $ | 139 |  |  | $ | 369 |  |  | $ | 277 |
Income tax benefit |  |  | (42 | ) |  |  | (32 | ) |  |  | (84 | ) |  |  | (63 | )
PSU compensation expense, net of income taxes |  | $ | 142 |  |  | $ | 107 |  |  | $ | 285 |  |  | $ | 214 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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