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Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2021

Equity Incentive Plans [Abstract]

Summary of Status of Restricted Shares

	Number of Shares Awarded			Weighted Average Grant Date Fair Value
Non-vested at January 1, 2021	22,304		$	12.46
Granted	26,700			12.89
Vested	-			-
Forfeited	-			-
Non-vested at March 31, 2021	49,004		$	12.70

	Number of Shares Awarded			Weighted Average Grant Date Fair Value
Non-vested at January 1, 2020	81,278		$	11.96
Granted	-			-
Vested	-			-
Forfeited	-			-
Non-vested at March 31, 2020	81,278		$	11.96

Summary of Stock Option Activity

The following tables present a summary of the status of the Company’s outstanding stock option awards as of March 31, 2021 and 2020.

		Number of Option Shares			Range of Exercise Prices			Weighted Average Exercise Price
Outstanding at January 1, 2021		1,192,348		$	8.93 - 13.32		$	11.45
Options granted		66,000			12.93			12.93
Options exercised		(7,000)			9.39			9.39
Options forfeited		-			-			-
Options expired		-			-			-
Outstanding at March 31, 2021		1,251,348		$	8.93 - 13.32		$	11.54

As of March 31, 2021, stock options which were granted and were exercisable totaled 824,536 stock options.

It is Company policy to issue new shares upon share option exercise. Expected future compensation expense relating to the 426,812 shares of unvested options outstanding as of March 31, 2021 was $713,000 over a weighted average period of 4.99 years.

		Number of Option Shares			Range of Exercise Prices			Weighted Average Exercise Price
Outstanding at January 1, 2020		1,200,975		$	8.93-13.32		$	11.45
Options granted		-			-			-
Options exercised		(500)			10.55			10.55
Options forfeited		-			-			-
Options expired		-			-			-
Outstanding at March 31, 2020		1,200,475		$	8.93-13.32		$	11.45

As of March 31, 2020, stock options which were granted and were exercisable totaled 515,800 stock options.

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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