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Stock-Based Compensation
 3 Months Ended
Mar. 31, 2022
Stock-Based Compensation [Abstract]  
Stock-Based Compensation 4.           Stock-Based Compensation

During the three-month period ended March 31, 2022, no stock options were granted. As of March 31, 2022, there was $202,000 of total unrecognized compensation cost related to non-vested options granted in 2021 under the 2014 Equity Incentive Plan, which will be fully amortized by December 31, 2022. Compensation costs related to stock options amounted to $67,000 and $54,000 during the three-month periods ended March 31, 2022 and 2021, respectively.

A summary of the Company’s stock option activity for the three-month period ended March 31, 2022 is as follows:

Weighted

Average Exercise

Weighted Average

Aggregate

Price

Remaining

Intrinsic Value

Options

Per Share

Contractual Term

($000)

Outstanding at January 1, 2022

226,075

$

26.37

6.4

Yrs.

$

520

Granted

—

-

-

Exercised

(2,400)

19.62

2.0

Forfeited

—

-

-

Outstanding at March 31, 2022

223,675

$

26.44

6.2

Yrs.

$

860

Exercisable at March 31, 2022

180,175

$

26.59

5.3

Yrs.

$

739

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 $28.59 per share as of March 31, 2022 and $25.99 per share as of December 31, 2021.

A summary of the Company’s restricted stock activity for the three-month periods ended March 31, 2022 and 2021 is as follows:

2022

2021

Weighted-Average

Weighted-Average

Number of

Grant Date

Number of

Grant Date

Restricted Stock

Fair Value

Restricted Stock

Fair Value

Non-vested, January 1,

32,030

$

26.76

39,135

$

30.72

Granted

—

—

—

—

Vested

—

—

—

—

Forfeited

—

—

(3,900)

30.86

Non-vested, March 31,

32,030

$

26.76

35,235

$

30.71

The expected future compensation expense relating to the 32,030 shares of non-vested restricted stock outstanding as of March 31, 2022 is $871,000. This cost will be recognized over the remaining vesting period of 4.75 years. Compensation costs related to restricted stock amounted to $82,000 and $84,000 during the three-month periods ended March 31, 2022 and 2021, respectively.