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Note 13 - Stock Compensation Plans | 6 Months Ended
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Jun. 30, 2019
Notes to Financial Statements |
Share-based Payment Arrangement [Text Block] | Note 13. Stock Compensation Plans On May 13, 2014, the Company’s shareholders approved the First National Corporation 2014 Stock Incentive Plan, which makes available up to 240,000 shares of common stock for the granting of stock options, restricted stock awards, stock appreciation rights, and other stock-based awards. Awards are made at the discretion of the Board of Directors and compensation cost equal to the fair value of the award is recognized over the vesting period. Stock Awards Whenever the Company deems it appropriate to grant a stock award, the recipient receives a specified number of unrestricted shares of employer stock. Stock awards may be made by the Company at its discretion without cash consideration and may be granted as settlement of a performance-based compensation award. The Company did not have compensation expense related to stock awards for the six months ended June 30, 2019 and 2018 . Restricted Stock Units Restricted stock units are an award of units that correspond in number and value to a specified number of shares of employer stock which the recipient receives according to a vesting plan and distribution schedule after achieving required performance milestones or upon remaining with the employer for a particular length of time. Each restricted stock unit that vests entitles the recipient to receive one share of common stock on a specified issuance date. In the first quarter of 2019 , 8,692 restricted stock units were granted to employees, with 1,235 units vesting immediately, 2,457 units subject to a two year vesting schedule with one half of the units vesting each year on the grant date anniversary, and 5,000 units subject to a five year vesting schedule will all of the units vesting on the fifth anniversary of the grant date. The recipient does not have any stockholder rights, including voting, dividend, or liquidation rights, with respect to the shares underlying awarded restricted stock units until vesting has occurred and the recipient becomes the record holder of those shares. The unvested restricted stock units will vest on the established schedule if the employees remain employed by the Company on future vesting dates. A summary of the activity for the Company’s restricted stock units for the period indicated is presented in the following table:
|  | Six Months Ended |
|  | June 30, 2019 |
|  | Shares |  |  | Weighted Average Grant Date Fair Value |
Unvested, beginning of year |  |  | 7,103 |  |  | $ | 17.93 |
Granted |  |  | 8,692 |  |  |  | 19.56 |
Vested |  |  | (5,402 | ) |  |  | 17.99 |
Forfeited |  |  | — |  |  |  | — |
Unvested, end of period |  |  | 10,393 |  |  | $ | 19.26 |
At June 30, 2019 , based on restricted stock unit awards outstanding at that time, the total unrecognized pre-tax compensation expense related to unvested restricted stock unit awards was $163 thousand. This expense is expected to be recognized through 2024. Compensation expense related to restricted stock unit awards recognized for the six months ended June 30, 2019 and 2018 totaled $68 thousand and $89 thousand, respectively.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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