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Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Stock Based Compensation [Abstract]

Summary of Stock Option Activity



	2019								2018
			Weighted								Weighted
			Average			Average					Average			Average
			Exercise			Intrinsic					Exercise			Intrinsic
	Options		Price			Value			Options		Price			Value

Outstanding, beginning of year	208,700		$	22.54					212,725		$	20.76
Granted	26,750			36.02					28,900			32.34
Exercised	(32,350)			19.71					(28,275)			18.39
Forfeited	(3,275)			24.31					(4,650)			27.08

Outstanding, end of year	199,825		$	24.78		$	2,822,470		208,700		$	22.54		$	2,182,537

Exercisable, end of year	173,075		$	23.04		$	2,745,430		179,800		$	20.97		$	2,163,463



Schedule of Fair Value Assumptions



	Years Ended December 31,
	2019			2018
Dividend yield		3.59%			3.72%
Expected life		10 years			10 years
Expected volatility		29.08%			29.10%
Risk-free interest rate		1.92%			2.68%
Weighted average fair value of options granted	$	7.61		$	7.18



Schedule of Outstanding Stock Options



			Average							Average
	Options		Exercise			Remaining		Options		Exercise
	Outstanding		Price			Life, Years		Exercisable		Price
	13,200		$	16.83		1.0		13,200		$	16.83
	18,825			16.65		2.0		18,825			16.65
	23,925			18.03		3.0		23,925			18.03
	1,650			18.36		3.0		1,650			18.36
	3,000			19.30		3.8		3,000			19.30
	20,875			17.93		4.0		20,875			17.93
	8,250			19.39		4.9		8,250			19.39
	11,250			19.03		5.9		11,250			19.03
	16,250			22.37		7.0		16,250			22.37
	29,500			32.81		8.0		29,500			32.81
	26,350			32.34		9.0		26,350			32.34
	26,750			36.02		10.0		-			-

Total	199,825							173,075



Summary of Restricted Stock Activity


		2019				2018
				Weighted-Average				Weighted-Average
		Number of		Grant Date		Number of		Grant Date
		Shares		Fair Value		Shares		Fair Value

Non-vested, beginning of year		34,615		$27.82		30,415		$24.46
Granted		13,100		36.02		13,100		32.34
Vested		(11,520)		25.12		(8,900)		23.00
Forfeited		-		-		-		-
Non-vested at December 31		36,195		$31.65		34,615		$27.82



X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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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.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

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