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Stock Compensation Plan (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Fair Value of Options Assumed

The fair value of the options granted were determined using the following weighted-average assumptions as of the grant date:

 

 

   2023   2022   2021 
   Years ended December 31, 
   2023   2022   2021 
Risk-free interest rate   4.15%   n/a    1.00%
Expected term   7 years    n/a    7 years 
Expected stock price volatility   26.31%   n/a    28.51%
Dividend yield   3.97%   n/a    2.88%
Schedule of Share-based Compensation, Stock Options, Activity

A summary of option activity during 2023 is presented below:

 

 

(Dollars in thousands, except per share amounts) 
   Weighted   Weighted 
       average   average     
       exercise   remaining   Aggregate 
       price   contractual   intrinsic 
   Shares   per share   term   value 
Outstanding at January 1, 2023   144,572   $21.87     6.8 years    $502 
Granted   81,111   $20.16           
Effect of 5% stock dividend   10,888                
Forfeited/expired   (5,470)  $22.90           
Exercised   (2,693)  $19.29           
Outstanding at December 31, 2023   228,408   $20.58     7.2 years    $88 
Exercisable at December 31, 2023   114,561   $20.05     5.4 years    $88 
Fully vested options at December 31, 2023   114,561   $20.05     5.4 years    $88 
Schedule of Stock Option Exercised Additional Information

Additional information about stock options exercised is presented below:

 

   2023   2022   2021 
(Dollars in thousands)  Years ended December 31, 
   2023   2022   2021 
Intrinsic value of options exercised (on exercise date)  $4   $3   $141 
Cash received from options exercised   52    -    22 
Excess tax benefit realized from options exercised  $1   $-   $21 
Schedule of Share-based Compensation Arrangements by Share-based Payment Award

     
(Dollars in thousands)    
Year  Amount 
2024   150 
2025   125 
2026   90 
2027   53 
Total  $418 
Restricted Stock [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Share-based Compensation Arrangements by Share-based Payment Award

Schedule of Share-based Compensation Arrangements by Share-based Payment Award 

(Dollars in thousands)    
Year  Amount 
2024   181 
2025   92 
2026   53 
Total  $326 
Schedule of Nonvested Share Activity

 

   Shares   Weighted average grant date price per share 
Nonvested restricted common stock at January 1, 2023   26,057   $23.50 
Granted   5,192   $21.17 
Vested   (8,975)  $22.40 
Forfeited   (350)  $17.80 
Effect of 5% stock dividend   1,077      
Nonvested restricted common stock at December 31, 2023   23,001   $22.40