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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Fair Value of Options Assumed

 

   Years ended December 31, 
   2024   2023 
Risk-free interest rate   4.20%   4.15%
Expected term   7 years    7 years 
Expected stock price volatility   27.18%   26.31%
Dividend yield   4.36%   3.97%
Schedule of Share-based Compensation, Stock Options, Activity

A summary of option activity during 2024 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, 2024   228,408   $20.58     7.2 years    $88 
Granted   40,000   $18.50           
Effect of 5% stock dividend   12,792                
Forfeited/expired   (12,474)  $20.95           
Exercised   -   $-           
Outstanding at December 31, 2024   268,726   $19.44     6.7 years    $1,235 
Exercisable at December 31, 2024   156,919   $19.26     5.4 years    $720 
Fully vested options at December 31, 2024   156,919   $19.26     5.4 years    $720 
Schedule of Stock Option Exercised Additional Information

Additional information about stock options exercised is presented below:

 

   2024   2023   2022 
(Dollars in thousands)  Years ended December 31, 
   2024   2023   2022 
Intrinsic value of options exercised (on exercise date)  $-   $4   $3 
Cash received from options exercised   -    52    - 
Excess tax benefit realized from options exercised  $-   $1   $- 
Schedule of Share-based Compensation Arrangements by Share-based Payment Award

 

(Dollars in thousands)    
Year  Amount 
2025   132 
2026   108 
2027   79 
2028   10 
Total  $329 
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

 

(Dollars in thousands)    
Year  Amount 
2025   300 
2026   217 
2027   178 
2028   96 
Total  $791 
Schedule of Nonvested Share Activity

 

   Shares   Weighted average grant date price per share 
Nonvested restricted common stock at January 1, 2024   23,001   $22.40 
Granted   41,175   $19.96 
Vested   (14,868)  $20.06 
Forfeited   (1,183)  $22.16 
Effect of 5% stock dividend   2,384      
Nonvested restricted common stock at December 31, 2024   50,509   $19.77