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Note 12 - Stock Based Compensation | 3 Months Ended
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Mar. 31, 2023
Notes to Financial Statements |
Share-Based Payment Arrangement [Text Block] | Note 12- Stock Based Compensation The Bancorp’s 2015 Stock Option and Incentive Plan (the “Plan”), which was adopted by the Bancorp’s Board of Directors on February 27, 2015, and approved by the Bancorp’s shareholders on April 24, 2015, permits the grant of equity awards for up to 250,000 shares of common stock. Awards granted under the Plan may be in the form of incentive stock options, non-qualified stock options, restricted stock, unrestricted stock, performance shares, or performance units. As required by the Stock Compensation Topic, companies are required to record compensation cost for stock options and awards provided to employees in return for employment service. For the three months ended March 31, 2023, stock based compensation expense of $307 thousand was recorded, compared to $169 thousand for the three months ended March 31, 2022. It is anticipated that current outstanding unvested awards will result in additional compensation expense of approximately $1.3 million through 2026 with an weighted average life of 1.7 years. Restricted stock awards are issued with an award price equal to the market price of the Bancorp’s common stock on the award date and vest between three and five years after the grant date. Forfeiture provisions exist for personnel that separate employment before the vesting period expires. A summary of restricted stock activity under the Bancorp’s Plan described above for the three months ended March 31, 2023, follows:
Non-vested Shares |  | Shares |  |  | Weighted Average Grant Date Fair Value |
Non-vested at January 1, 2023 |  |  | 55,833 |  |  | $ | 43.87 |
Granted |  |  | 8,492 |  |  |  | 36.73 |
Vested |  |  | (13,754 | ) |  |  | 44.32 |
Forfeited |  |  | (1,370 | ) |  |  | 42.01 |
Non-vested at March 31, 2023 |  |  | 49,201 |  |  | $ | 42.56 |

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