The Company has two stock-based compensation plans currently in effect as of March 31, 2019, as described further below. Total compensation cost that has been charged against earnings for these plans was $377,000 and $246,000 in the three months ended March 31, 2019 and 2018, respectively.

2005 Plan: In 2005, the Board of Directors and shareholders of the Bank approved a stock option plan for the benefit of directors and employees of the Bank (the “2005 Plan”). The 2005 Plan was assumed by the Company in 2016 at the time of the bank holding company reorganization. Under the 2005 Plan, the Bank was authorized to grant options to purchase up to 770,000 shares of the Company’s common stock. The exercise prices of the options may not be less than 100 percent of the fair value of the Company’s common stock at the date of grant.

The options, when granted, vest either immediately or ratably over five years from the date of the grant and expire after ten years if not exercised.

There were no stock options granted under the 2005 Plan during the three months ended March 31, 2019 or 2018.

A summary of the transactions under the 2005 Plan for the three months ended March 31, 2019 is as follows:

				Weighted
	Number of			Average		Aggregate
	Options			Exercise		Intrinsic
	Outstanding			Price		Value
	(Dollars in thousands, except share data)
Outstanding, as of January 1, 2019		250,000		$	4.00
Options granted		—			—
Options exercised		(60,000	)		2.83
Options forfeited		—			—
Options expired		—			—
Outstanding, as of March 31, 2019		190,000			4.37	$	831
Fully vested and expected to vest		189,500			4.36	$	831
Vested		188,000		$	4.33	$	831

	Three Months Ended March 31,
		2019		2018
	(Dollars in thousands)
Intrinsic value of options exercised	$	387	$	—
Cash received from option exercises		107		—
Tax benefit realized from option exercised		—		—

There were no shares available for grant under the 2005 Plan as of March 31, 2019. The weighted average remaining contractual term of stock options outstanding under the 2005 Plan at March 31, 2019 was 2.87 years. The weighted average remaining contractual term of stock options that were exercisable at March 31, 2019 was 2.85 years.

As of March 31, 2019, the Company had approximately $1,000 of unrecognized compensation costs related to unvested stock options under the 2005 Plan. The Company expects to recognize these costs over a weighted average period of 2 months.

2010 Plan: In 2010, the Board of Directors of the Bank approved a new equity incentive plan for granting stock options and restricted stock awards to key employees, officers, and non-employee directors of the Bank (the “2010 Plan”). In 2013, the 2010 Plan was amended and approved by the shareholders to increase the number of shares authorized to be issued under from 1,350,000 shares to 2,500,000 shares of common stock. The 2010 Plan was assumed by the Company in 2016 at the time of the bank holding company reorganization.

The exercise prices of stock options granted under the plan may not be less than 100 percent of the fair value of the Company’s stock at the date of grant. The options, when granted, vest ratably over five years from the date of the grant and expire after ten years if not exercised. There were no stock options granted under the 2010 Plan during the three months ended March 31, 2019 or 2018.

Restricted stock awards issued under the 2010 Plan may or may not be subject to vesting provisions. Awards which were granted in the three months ended March 31, 2019 vest at the end of three years from the date of the grant. No awards were granted in the three months ended March 31, 2019. Owners of the restricted stock awards shall have all of the rights of a shareholder including the right to vote the shares and to all dividends (cash or stock). Compensation expense related to restricted stock awards will be recognized over the vesting period of the awards based on the fair value of the Company’s common stock at the issue date.

A summary of stock options outstanding under the 2010 Plan for the three months ended March 31, 2019 is as follows:

				Weighted
	Number of			Average		Aggregate
	Options			Exercise		Intrinsic
	Outstanding			Price		Value
	(Dollars in thousands, except share data)
Outstanding, as of January 1, 2019		620,000		$	4.57
Options granted		—			—
Options exercised		(65,000	)		2.85
Options forfeited		—			—
Options expired		—			—
Outstanding, as of March 31, 2019		555,000			4.77	$	2,206
Fully vested and expected to vest		532,500			4.64	$	2,190
Vested		465,000		$	4.15	$	2,139

Information related to stock options exercised under the 2010 Plan for the periods indicated follows:

	Three Months Ended March 31,
		2019		2018
	(Dollars in thousands)
Intrinsic value of options exercised	$	396	$	286
Cash received from option exercises		185		114
Tax benefit realized from option exercised		102		76

The weighted average remaining contractual term of stock options outstanding under the 2010 Plan at March 31, 2019 was 2.78 years. The weighted average remaining contractual term of stock options that were exercisable at March 31, 2019 was 2.35 years.

A summary of the changes in the Company’s non-vested restricted stock awards under the 2010 Plan for the three months ended March 31, 2019 is as follows:

	Shares Issued		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
	(Dollars in thousands, except share data)
Non-vested, as of January 1, 2019		436,000	$	8.19
Awards granted		—		—
Awards vested		—		—
Awards forfeited		—		—
Non-vested, as of March 31, 2019		436,000	$	8.19	$	3,815

Information related to non-vested restricted stock awards under the 2010 Plan for the periods indicated follows: