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Restricted Stock Plan | 3 Months Ended
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Mar. 31, 2024
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 and President. The RSP authorizes the issuance of unvested restricted stock to an eligible employee with a maximum award ranging from 30% 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 such 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 March 31
| 2024 |  | 2023
| Number of Shares |  | Fair Value |  | Number of Shares |  | Fair Value
Balance, January 1 | 27,072 |  |  | $ | 592 |  |  | 27,072 |  |  | $ | 592 |
Granted | 6,686 |  |  | 130 |  |  | 3,705 |  |  | 91 |
Vested | (16,240) |  |  | (345) |  |  | — |  |  | — |
Forfeited | — |  |  | — |  |  | — |  |  | — |
Balance, March 31 | 17,518 |  |  | $ | 377 |  |  | 30,777 |  |  | $ | 683 |
Expenses related to the RSP awards during the three months ended March 31, 2024 and 2023 were $25 and $42. As of March 31, 2024, there was $202 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 2.11 years.

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