XML 30 R21.htm IDEA: XBRL DOCUMENT v3.22.2.2
Restricted Stock Plan (Notes)
 9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement [Text Block] Restricted Stock Plan
We adopted the RSP, an equity-based bonus plan, in 2020. Under the RSP, we may award restricted stock bonuses to eligible employees on an annual basis that are not fully transferable or vested until certain conditions are met. Currently, the eligible employees are the Bank's CEO, President, and CFO. The RSP authorizes the issuance of unvested restricted stock to an eligible employee with a maximum award ranging from 25% to 40% of the employee’s annual salary, on a calendar year basis. The employee must also satisfy the annual performance targets and measures established by the Board of Directors. If these grant conditions are not satisfied, then the award of restricted shares will lapse or be adjusted appropriately, at the discretion of the Board of Directors. All Grant Agreements contain vesting conditions and clawback provisions.
A summary of changes in nonvested restricted stock awards is as follows for the:
Three Months Ended 
 September 30, 2022		Three Months Ended 
 September 30, 2021
Number
of Shares		Fair
Value		Number
of Shares		Fair
Value
Balance, July 130,208 $679 16,257 $334 
Granted(3,362)(87)3,866 84 
Vested— — — — 
Forfeited— — — — 
Balance, September 3026,846 $592 20,123 $418 
Nine Months Ended 
 September 30, 2022		Nine Months Ended 
 September 30, 2021
Number
of Shares		Fair
Value		Number
of Shares		Fair
Value
Balance, January 120,123 $418 4,658 $82 
Granted6,723 174 15,465 336 
Vested— — — — 
Forfeited— — — — 
Balance, September 3026,846 $592 20,123 $418 
Fluctuations in granted shares are due to the reassessment of the award achievement. Expense related to RSP awards were $108 and $58 for the nine-month periods ended September 30, 2022 and 2021. As of September 30, 2022, there was $369 of total remaining unrecognized compensation expense related to nonvested restricted stock awards granted under the RSP. The remaining expense is expected to be recognized over a weighted-average service period of 2.62 years.