During the nine-month period ended September 30, 2022, no stock options were granted. As of September 30, 2022, there was $67,000 of total unrecognized compensation cost related to non-vested options granted in 2021 under the 2014 Equity Incentive Plan, which will be fully amortized by December 31, 2022. Compensation costs related to stock options amounted to $201,000 and $160,000 during the nine-month periods ended September 30, 2022 and 2021, respectively.

A summary of the Company’s stock option activity for the nine-month period ended September 30, 2022 is as follows:



		Weighted
		Average Exercise		Weighted Average		Aggregate
		Price		Remaining		Intrinsic Value
	Options	Per Share		Contractual Term		($000)
Outstanding at January 1, 2022	226,075	$	26.37	6.4	Yrs.	$	520
Granted	—		-	-
Exercised	(21,600)		18.49	1.0
Forfeited	—		-	-
Outstanding at September 30, 2022	204,475	$	27.20	6.1	Yrs.	$	380
Exercisable at September 30, 2022	162,975	$	27.56	5.3	Yrs.	$	380

Intrinsic value represents the amount by which the market price of the stock on the measurement date exceeded the exercise price of the option. The market price was $26.58 per share as of September 30, 2022 and $25.99 per share as of December 31, 2021.

A summary of the Company’s restricted stock activity for the nine-month periods ended September 30, 2022 and 2021 is as follows:



	2022			2021
		Weighted-Average				Weighted-Average
	Number of	Grant Date		Number of	Grant Date
	Restricted Stock	Fair Value		Restricted Stock	Fair Value
Non-vested, January 1,	32,030	$	29.76	39,135	$	30.72
Granted	7,500		25.71	—		—
Vested	—		—	—		—
Forfeited	—		—	(3,900)		30.86
Non-vested, September 30,	39,530	$	28.99	35,235	$	30.71

The expected future compensation expense relating to the 39,530 shares of non-vested restricted stock outstanding as of September 30, 2022 is $875,000. This cost will be recognized over the remaining vesting period of 4.25 years. Compensation costs related to restricted stock amounted to $272,000 and $251,000 during the nine-month periods ended September 30, 2022 and 2021, respectively.