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Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Assumptions Used in Estimating the Fair Value of Options Granted The following assumptions were used in estimating the fair value of options granted in the year ended December 31, 2020:
   
2020
 
Dividend yield
   0.00
Risk-free interest rate
   0.45
Expected volatility
   24.00
Weighted average expected life
   6.5 
Weighted average per share value of options
  $1.98 
Summary of Stock Option Activity
A summary of the Company’s stock option activity for the period ended December 31, 2020 is presented below.
 
Stock Options
  
Shares
   
Weighted
Average
Exercise Price
   
Weighted
Average
Remaining in
Contractual
Term (Years)
   
Aggregate
Intrinsic
Value
 
Outstanding December 31, 2019
   —     $—      —      —   
Granted
   218,115    7.89    9.30    451,154 
Exercised
   —      —      —      —   
Forfeited
   —      —      —      —   
   
 
 
   
 
 
   
 
 
   
 
 
 
Outstanding December 31, 2020
   218,115    7.89    9.30    451,154 
   
 
 
   
 
 
   
 
 
   
 
 
 
Options exercisable at December 31, 2020
   —     $—      —      —   
   
 
 
   
 
 
   
 
 
   
 
 
 
Summary of Restricted Stock Unit Activity
 
Restricted Stock
  
Shares
   
Weighted Average Grant
Date Fair Value
 
Nonvested at December 31, 2019
   —     $—   
Granted
   84,949    7.87 
Vested
   —      —   
Forfeited
   —      —   
   
 
 
   
 
 
 
Nonvested at December 31, 2020
   84,949   $7.87