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Restricted Stock Plan (Notes)
6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement [Text Block] Restricted Stock Plan
Under the RSP, an equity-based bonus plan, we 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 June 30
20232022
Number
of Shares
Fair
Value
Number
of Shares
Fair
Value
Balance, April 130,777 $683 26,846 $592 
Granted— — 3,362 87 
Vested— — — — 
Forfeited— — — — 
Balance, June 3030,777 $683 30,208 $679 
Six Months Ended June 30
20232022
Number
of Shares
Fair
Value
Number
of Shares
Fair
Value
Balance, January 127,072 $592 20,123 $418 
Granted3,705 91 10,085 261 
Vested— — — — 
Forfeited— — — — 
Balance, June 3030,777 $683 30,208 $679 
Expenses related to RSP awards during the three and six month periods ended June 30, 2023 were $86 and $128, and $46 and $77 for the three and six month periods ended June 30, 2022. As of June 30, 2023, there was $309 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 1.91 years.