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Benefit Plans (Tables)
9 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
Schedule of Employee Stock Ownership Plan (ESOP) Disclosures
ESOP expense for the three and nine months ended September 30, 2025 was $193,000 and $552,000, respectively, and was $167,000 and $476,000 for the three and nine months ended September 30, 2024, respectively.
September 30,
2025
December 31,
2024
Earned ESOP shares333,674 293,095 
Unearned ESOP shares748,456 789,035 
Total ESOP shares1,082,130 1,082,130 
Quoted per share price$14.21 $14.15 
Fair value of earned shares (in thousands)$4,742 $4,147 
Fair value of unearned shares (in thousands)$10,636 $11,165 
Schedule of Restricted Stock Awards
The following table summarizes the restricted stock award activity in the 2020 EIP during the nine months ended September 30, 2025.
Nine Months Ended September 30, 2025
Number of Restricted SharesWeighted Average Grant Date Fair Value
Non-vested, beginning of period83,379$10.55 
Granted37,12613.37 
Vested(83,379)10.55 
Forfeited— 
Non-vested, September 30, 202537,12613.37 
Schedule of Share-based Compensation Arrangements by Share-based Payment Award
The following table summarizes the stock option activity in the 2020 EIP during the nine months ended September 30, 2025.
Nine Months Ended September 30, 2025
Number of SharesWeighted-Average Exercise Price
Balance at beginning of period1,016,497$10.55 
Granted55,46713.37 
Exercised— 
Forfeited/expired— 
Balance, September 30, 20251,071,96410.55 
Exercisable at end of period1,016,497$10.55 
Schedule of Fair Value Measurement Inputs and Valuation Techniques
The fair value of options granted is estimated on the date of the grant using a Black Scholes model with the following assumptions:
July 15, 2025
Dividend yields4.49 %
Volatility factors of expected market price of common stock30.00 %
Risk-free interest rates4.16 %
Expected life of options6.5 years
Schedule of Nonvested Share Activity
A summary of the status of the Company stock option shares as of September 30, 2025 is presented below.
SharesWeighted Average Grant Date Fair Value
Non-vested, beginning of year204,096$2.91 
Vested(204,096)2.91 
Granted55,4673.00 
Forfeited— 
Non-vested, September 30, 202555,467$3.00