Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The Company’s stock option plan awards and activity for the three and nine months ended September 30, 2023 are summarized as follows: 

	For the Three Months Ended September 30, 2023
	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term in Years	Aggregate Intrinsic Value		Weighted-Average Grant Date Fair Value
Outstanding at July 1, 2023	217,519	$	11.20		$	104,584	$	4.10
Granted	40,000	12.06			—		2.98
Exercised	(95,019)	10.78			114,438		3.85
Outstanding at September 30, 2023	162,500	11.65		3.40	186,025		3.98
Vested and expected to vest assuming a 3% forfeiture rate over the vesting term	161,300	11.65		3.35	185,233		3.99
Exercisable at September 30, 2023	122,500	11.52		1.30	159,625		4.30
	For the Nine Months Ended September 30, 2023
	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term in Years	Aggregate Intrinsic Value		Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2023	217,519	$	11.20		$	823,028	$	4.10
Granted	40,000	12.06			—		2.98
Exercised	(95,019)	10.78			114,438		3.85
Outstanding at September 30, 2023	162,500	11.65		3.40	186,025		3.98
Vested and expected to vest assuming a 3% forfeiture rate over the vesting term	161,300	11.65		3.35	185,233		3.99
Exercisable at September 30, 2023	122,500	11.52		1.30	159,625		4.30

Nonvested Restricted Stock Shares Activity

Changes in nonvested restricted stock awards for the three and nine months ended September 30, 2023, are summarized as follows:

	For the Three Months Ended September 30, 2023
	Shares	Weighted-Average Grant Date Fair Value
Nonvested at July 1, 2023	27,618	$	14.92
Granted	13,000	12.69
Vested	(13,000)	12.69
Nonvested at September 30, 2023	27,618	14.92
Expected to vest assuming a 3% forfeiture rate over the vesting term	26,789	14.92
	For the Nine Months Ended September 30, 2023
	Shares	Weighted-Average Grant Date Fair Value
Nonvested at January 1, 2023	31,272	$	16.93
Granted	40,618	14.21
Vested	(44,272)	15.68
Nonvested at September 30, 2023	27,618	14.92
Expected to vest assuming a 3% forfeiture rate over the vesting term	26,789	14.92