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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Summary of Nonvested Restricted Shares

A summary of changes in the Company’s nonvested restricted shares for the nine months ended September 30, 2021 follows:

			Shares						Weighted-Average Grant-Date Fair Value, per share
Nonvested at January 1, 2021			4,130						$	14.63
Granted			4,008						13.33
Vested			(5,655)						13.61
Forfeited			—						—
Nonvested at September 30, 2021			2,483						$	14.86

Summary of Fair Value of Options Granted Using Weighted Average Assumptions

The fair value of options granted during the nine months ended September 30, 2021 were determined using the following weighted average assumptions as of grant date:

			September 30, 2021
Risk-free interest rate (%)			0.82
Expected term (years)			7.50
Expected stock price volatility (%)			29.57
Dividend yield (%)			1.82

Summary of Activity in the Equity Plan

A summary of the activity in the Equity Plan for the nine months ended September 30, 2021 follows:

			Shares						Weighted Average Exercise Price						Weighted Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value
Outstanding at January 1, 2021			332,708						$	16.01
Granted			127,275						14.67
Exercised			—						—
Forfeited			(540)						15.11
Expired			(4,665)						16.52
Outstanding at September 30, 2021			454,778						$	15.63					7.96						$	2,436
Vested and exercisable at September 30, 2021			180,318						$	16.52					7.16						$	842

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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
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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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-Section 50
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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.

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