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Accounting for Share-Based Payments (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The weighted-average assumptions used in the Black-Scholes option-pricing model and weighted-average grant date fair value for options granted in 2020 are as follows:
| Grant Date
| February 5, 2020 |  | June 30, 2020
Weighted-average assumptions used: |  |  |
Expected volatility | 35.1 | % |  | 38.7 | %
Dividend yield | 1.79 | % |  | 1.89 | %
Risk-free interest rate | 1.66 | % |  | 0.64 | %
Expected term, in years | 10 |  | 10
Weighted-average grant date fair value | $ | 4.53 |  |  | $ | 2.59 |
Schedule of Activity in the Company’s Stock Option Plans | A summary of activity for the 2011 Plan is as follows:
| Weighted Average Exercise Price |  | Options Outstanding |  | Weighted Average Contractual Term (in years) |  | Intrinsic Value of Options
December 31, 2019 | $ | 14.26 |  |  | 55,468 |  |  | 3.8 |  | $ | 18,331 |
Granted February 5, 2020 | 13.00 |  |  | 123,500 |  |  |  |  |
Granted June 30, 2020 | 7.33 |  |  | 20,000 |  |  |  |  |
Exercised | — |  |  | — |  |  |  |  |
Canceled, forfeited, or expired | 13.14 |  |  | (19,437) |  |  |  |  |
December 31, 2020 | $ | 12.74 |  |  | 179,531 |  |  | 7.2 |  | $ | 9,402 |
Exercised | 12.71 |  |  | (13,174) |  |  |  |  |
Canceled, forfeited, or expired | 13.33 |  |  | (22,529) |  |  |  |  |
December 31, 2021 | $ | 13.04 |  |  | 143,828 |  |  | 6.0 |  | $ | 487,011 |
Exercisable options | $ | 13.05 |  |  | 129,163 |  |  | 5.8 |  | $ | 436,637 |
Options expected to vest: | Weighted Average Exercise Price |  | Options Outstanding |  | Weighted Average Contractual Term (in years) |  | Grant Date Fair Value
December 31, 2019 | $ | 16.01 |  |  | 3,723 |  |  | 5.1 |  | $ | 6.11 |
Granted February 5, 2020 | 13.00 |  |  | 123,500 |  |  |  |  | 4.53 |
Granted June 30, 2020 | 7.33 |  |  | 20,000 |  |  |  |  | 2.59 |
Vested | 13.24 |  |  | (34,786) |  |  |  |  | 4.68 |
Canceled, forfeited, or expired | 13.14 |  |  | (19,437) |  |  |  |  | 4.62 |
December 31, 2020 | $ | 11.78 |  |  | 93,000 |  |  | 9.2 |  | $ | 5.53 |
Vested | 10.83 |  |  | (55,806) |  |  |  |  | 3.72 |
Canceled, forfeited, or expired | 13.33 |  |  | (22,529) |  |  |  |  | 4.80 |
December 31, 2021 | $ | 13.00 |  |  | 14,665 |  |  | 8.1 |  | $ | 4.99 |
Schedule of Stock Options by Exercise Price Range | The following table summarizes information about stock options outstanding as of December 31, 2021:
Range of Exercise Prices |  | Outstanding Stock Options |  | Exercisable Stock Options
| Shares |  | Weighted Average |  | Shares |  | Weighted Average Exercise Price
|  | Exercise Price |  | Remaining Contractual Life in Years |  |
$ | 11.35 |  |  | 9,068 |  |  | $ | 11.35 |  |  | 0.1 |  | 9,068 |  |  | $ | 11.35 |
13.70 |  |  | 12,370 |  |  | 13.70 |  |  | 1.1 |  | 12,370 |  |  | 13.70 |
14.76 |  |  | 8,109 |  |  | 14.76 |  |  | 2.1 |  | 8,109 |  |  | 14.76 |
16.01 |  |  | 18,447 |  |  | 16.01 |  |  | 3.1 |  | 18,447 |  |  | 16.01 |
13.00 |  |  | 85,834 |  |  | 13.00 |  |  | 8.1 |  | 71,169 |  |  | 13.00 |
$ | 7.33 |  |  | 10,000 |  |  | $ | 7.33 |  |  | 8.5 |  | 10,000 |  |  | $ | 7.33 |
|  | 143,828 |  |  |  |  |  |  | 129,163 |  |  |
Schedule of Stock Awards Plan Activity | A summary of plan activity for the 2015 Plan is as follows:
| Shares |  | Weighted Average Grant Date Fair Value
Outstanding December 31, 2019 | 100,775 |  |  | $ | 13.28 |
Granted February 5, 2020 | 45,418 |  |  | 13.00 |
Granted November 10, 2020 | 50,000 |  |  | 5.65 |
Vested | (81,233) |  |  | 12.87 |
Forfeited | (17,535) |  |  | 13.11 |
Outstanding December 31, 2020 | 97,425 |  |  | $ | 11.97 |
Granted February 10, 2021 | 15,181 |  |  | 8.57 |
Granted October 28, 2021 | 6,751 |  |  | 11.11 |
Granted November 15, 2021 | 751 |  |  | 13.32 |
Vested | (64,398) |  |  | 9.25 |
Forfeited | (12,129) |  |  | 10.54 |
Outstanding December 31, 2021 | 43,581 |  |  | $ | 9.82 |
A summary of the status of our inducement stock awards as of December 31, 2021, and changes during fiscal 2021, were as follows:
| Units |  | Weighted-Average Grant Date Fair Value
Outstanding December 31, 2020 | — |  |  | $ | — |
Granted | 53,696 |  |  | 6.35 |
Vested | (12,516) |  |  | 2.35 |
Forfeited/Canceled | (10,324) |  |  | 5.96 |
Outstanding December 31, 2021 | 30,856 |  |  | $ | 8.11 |
Schedule of Nonvested Performance- based Units Activity | A summary of the status of our performance-based restricted stock awards as of December 31, 2021, and changes during fiscal 2021, were as follows:
| Units |  | Weighted-Average Grant Date Fair Value
Outstanding December 31, 2019 | 77,986 |  |  | $ | 13.66 |
Granted 1 | 36,647 |  |  | 13.00 |
Vested 2 | (64,711) |  |  | 13.21 |
Forfeited | (20,558) |  |  | 13.73 |
Outstanding December 31, 2020 | 29,364 |  |  | $ | 13.76 |
Granted 3 | 90,000 |  |  | 0.69 |
Vested | (116,260) |  |  | 3.66 |
Forfeited | (3,104) |  |  | 12.99 |
Outstanding December 31, 2021 | — |  |  | $ | — |
1 Contingent shares granted excluded from 2020 2 Excludes the vesting of an additional 5,074 shares due to performance conditions of the awards exceeding target. 3 Contingent shares granted in prior year included in 2021

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