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Stock Awards (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Summary of Assumptions Used in Black-Scholes Pricing Model | The table below sets forth the assumptions used in the Black-Scholes pricing model for the year ended December 31, 2020.
|  | 2020 |
Risk-free interest rate |  |  | 1.24 | %
Expected term (in years) |  |  | 7.5 |
Expected stock price volatility |  |  | 28.9 | %
Dividend yield |  |  | 1.25 | %
Fair value of stock option |  | $ | 3.34 |
Stock Option Activity | The following table summarizes the Company’s stock option activity for the periods presented.
|  | Year Ended |
|  | December 31, 2021 |  |  | December 31, 2020 |
|  | Number of Shares |  |  | Average Exercise Price |  |  | Number of Shares |  |  | Average Exercise Price |
Options: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding, beginning of year |  |  | 421,000 |  |  | $ | 9.79 |  |  |  | 412,800 |  |  | $ | 9.72 |
Granted |  |  | — |  |  |  | — |  |  |  | 10,200 |  |  |  | 11.95 |
Exercised |  |  | 750 |  |  |  | 8.23 |  |  |  | 666 |  |  |  | 10.75 |
Forfeited |  |  | — |  |  |  | — |  |  |  | 1,334 |  |  |  | 9.70 |
Options outstanding, end of year |  |  | 420,250 |  |  | $ | 9.79 |  |  |  | 421,000 |  |  | $ | 9.79 |
Options exercisable, end of year |  |  | 395,678 |  |  | $ | 9.74 |  |  |  | 359,413 |  |  | $ | 9.62 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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