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Stock-Based Compensation
 9 Months Ended
Sep. 30, 2020
Stock-Based Compensation [Abstract]  
Stock-Based Compensation 4.           Stock-Based Compensation

No awards were granted during the nine-month period ended September 30, 2020. As of September 30, 2020, there was $51,000 of total unrecognized compensation cost related to non-vested options granted in 2019 under the 2014 Equity Incentive Plan, which will be fully amortized by December 31, 2020. Compensation costs related to stock options amounted to $153,000 and $156,000 during the nine-month periods ended September 30, 2020 and 2019, respectively.

A summary of the Company’s stock option activity for the nine-month period ended September 30, 2020 is as follows:

Weighted

Average Exercise

Weighted Average

Aggregate

Price

Remaining

Intrinsic Value

Options

Per Share

Contractual Term

($000)

Outstanding at January 1, 2020

199,825

$

24.78

5.9

Yrs.

$

2,823

Granted

—

—

—

—

Exercised

(4,681)

17.87

2.6

Yrs.

—

Forfeited

—

—

—

Outstanding at September 30, 2020

195,144

$

24.94

5.2

Yrs.

$

654

Exercisable at September 30, 2020

168,394

$

23.18

4.6

Yrs.

$

654

Intrinsic value represents the amount by which the market price of the stock on the measurement date exceeded the exercise price of the option. The market price was $24.32 per share as of September 30, 2020 and $38.90 per share as of December 31, 2019.

A summary of the Company’s restricted stock activity for the nine-month periods ended September 30, 2020 and 2019 is as follows:

2020

2019

Weighted-Average

Weighted-Average

Number of

Grant Date

Number of

Grant Date

Restricted Stock

Fair Value

Restricted Stock

Fair Value

Non-vested, January 1,

36,195

$

31.65

34,615

$

27.82

Granted

—

—

—

—

Vested

—

—

—

—

Forfeited

—

—

—

—

Non-vested, September 30,

36,195

$

31.65

34,615

$

27.82

The expected future compensation expense relating to the 36,195 shares of non-vested restricted stock outstanding as of September 30, 2020 is $895,000. This cost will be recognized over the remaining vesting period of 4.25 years. Compensation costs related to restricted stock amounted to $250,000 and $217,000 during the nine-month periods ended September 30, 2020 and 2019, respectively.