Pay vs Performance Disclosure

12 Months Ended

Dec. 31, 2024

USD ($)

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

PAY VS. PERFORMANCE

The following discusses the relationship of compensation actually paid to named executive officers and the financial performance of the Company. Compensation is compared to performance metrics of the cumulative Total Shareholder Return and Net Income to provide shareholders with a more transparent, readily comparable, and understandable disclosure of executive compensation and to assess executive compensation actually paid relative to financial performance.

Year	Summary Compensation Table Total for PEO(1) $		Compensation Actually Paid to PEO(1) $		Average Summary Compensation Table Total for Non-PEO NEOs(2) $		Average Compensation Actually Paid to Non-PEO NEOs(3) $		Value of Initial Fixed $100 Investment Based on Total Shareholder Return(4) %		Net Income(5) $
2024		998,371		863,318		500,626		455,397		0.54%		20,793,676
2023		865,183		1,039,025		432,043		494,668		30.31%		18,209,518
2022		979,155		929,236		510,148		494,464		-22.68%		30,021,579

⁽¹⁾ Daniel J. Santaniello was the Company's Principal Executive Officer (PEO) for each of the 2022, 2023 and 2024 fiscal years.

⁽²⁾ Salvatore R. DeFrancesco, Jr., Eugene J. Walsh and Michael J. Pacyna were the Company's Non-PEO Named Executive Officers (NEOs) for each of the 2022, 2023 and 2024 fiscal years. Ruth G. Turkington was included in the Company’s Non-PEO Named Executive Officers (NEOs) for 2023 and 2024.

⁽³⁾ The amounts disclosed reflect the following adjustments to the amounts reported in the Summary Compensation Table.

PEO Total Compensation Amount

$ 998,371

$ 865,183

$ 979,155

PEO Actually Paid Compensation Amount

$ 863,318

1,039,025

929,236

Adjustment To PEO Compensation, Footnote

	2024						2023						2022
	PEO $			Non-PEO NEO’s $			PEO $			Non-PEO NEO's $			PEO $			Non-PEO NEO's $
Less Change in Pension Value & NQ Deferred Compensation Earnings		-			-			-			-			-			-
Less Stock Award		(157,815	)		(66,147	)		(82,840	)		(35,126	)		(155,505	)		(71,310	)
Increase for Fair Value of Awards Granted during Year that Remain Unvested as of Year End		86,083			36,502			182,562			77,296			147,501			64,755
Change in Fair Value from Prior to Current Year End of Awards Granted Prior to the Year that were Outstanding & Unvested as of Year End		(57,918	)		(10,902	)		57,750			13,712			(49,349	)		(13,275	)
Change in Fair Value from Prior Year End to Vesting Date of Awards Granted Prior to Year that Vested during Year		(18,609	)		(9,798	)		4,034			2,221			(2,408	)		(1,308	)
Increase based on Dividends or Other Earnings Paid during year prior to Vesting Date of Award(6)		13,206			5,116			12,336			4,522			9,842			5,454
Total Adjustments		(135,053	)		(45,229	)		173,842			62,625			(49,919	)		(15,684	)

⁽⁴⁾ Computed based on a hypothetical investment of $100 in common stock on January 1, 2022, with dividends paid reinvested.

⁽⁵⁾ As reported on Company’s Consolidated Statements of Income for the applicable fiscal reporting year, as provided under Part II Item 8 of the Company’s Annual Report on Form 10-K.

⁽⁶⁾ Dividends earned on the restricted stock are forfeitable until the vesting date of the underlying restricted stock.

Relationship Between Compensation Actually Paid and Performance Measures

Relationship Between Compensation Actually Paid to our PEO and the Average of the Compensation Actually Paid to the Other NEOs and the Company's Cumulative Total Shareholder Return (TSR). From 2023 to 2024, the compensation actually paid to our PEO and the average of the compensation actually paid to the Other NEOs decreased by 16.91% and 7.94% respectively, compared to a 98.22% decrease in our TSR over the same time period. From 2022 to 2023, the compensation actually paid to our PEO and the average of the compensation actually paid to the Other NEOs increased by 11.81% and 0.04% respectively compared to a 233.64% increase in our TSR over the same time period.         

Relationship Between Compensation Actually Paid to our PEO and the Average of the Compensation Actually Paid to the Other NEOs and the Company's Net Income. From 2023 to 2024, the compensation actually paid to our PEO and the average of the compensation actually paid to the Other NEOs decreased by 16.91% and 7.94% respectively, compared to a 14.19% increase in our Net Income over the same time period. From 2022 to 2023, the compensation actually paid to our PEO and the average of the compensation actually paid to the Other NEOs increased by 11.81% and 0.04% respectively, compared to a 39.35% decrease in our Net Income over the same time period.

Non-PEO NEO Average Total Compensation Amount

$ 500,626

432,043

510,148

Non-PEO NEO Average Compensation Actually Paid Amount

455,397

494,668

494,464

Net Income (Loss)

$ 20,793,676

$ 18,209,518

$ 30,021,579

Company Selected Measure Amount

0.0054

0.3031

0.2268

PEO

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (135,053)

$ 173,842

$ (49,919)

PEO | Aggregate Pension Adjustments Service Cost

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

0

0

PEO | Equity Awards Adjustments

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(157,815)

(82,840)

(155,505)

PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

86,083

182,562

147,501

PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(57,918)

57,750

(49,349)

PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(18,609)

4,034

(2,408)

PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

13,206

12,336

9,842

Non-PEO NEO

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(45,229)

62,625

(15,684)

Non-PEO NEO | Aggregate Pension Adjustments Service Cost

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

0

0

Non-PEO NEO | Equity Awards Adjustments

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(66,147)

(35,126)

(71,310)

Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

36,502

77,296

64,755

Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(10,902)

13,712

(13,275)

Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(9,798)

2,221

(1,308)

Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 5,116

$ 4,522

$ 5,454