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Equity Incentive Plans (Tables)

9 Months Ended

Sep. 30, 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	(22,304)			12.46
Forfeited	-			-
Non-vested at September 30, 2021	26,700		$	12.89

	Number of Shares Awarded			Weighted Average Grant Date Fair Value
Non-vested at January 1, 2020	81,278		$	11.96
Granted	-			-
Vested	(25,232)			12.40
Forfeited	(2,332)			11.97
Non-vested at September 30, 2020	53,714		$	11.78

Summary of Stock Option Activity

The following tables present a summary of the status of the Company’s outstanding stock option awards as of September 30, 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		72,800			12.89-13.68			12.96
Options exercised		(67,623)			8.93-12.46			9.83
Options forfeited		-			-			-
Options expired		-			-			-
Outstanding at September 30, 2021		1,197,525		$	9.03-13.68		$	11.64

As of September 30, 2021, stock options which were granted and were exercisable totaled 854,725 stock options.

It is Company policy to issue new shares upon share option exercise. Expected future compensation expense relating to the 342,800 shares of unvested options outstanding as of September 30, 2021 was $620,000 over a weighted average period of 4.66 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		(8,127)			11.26-12.46			11.68
Options expired		-			-			-
Outstanding at September 30, 2020		1,192,348		$	8.93-13.32		$	11.45

As of September 30, 2020, stock options which were granted and were exercisable totaled 660,736 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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