Restricted Stock Plan

3 Months Ended

Mar. 31, 2024

Restricted Stock Plan

Restricted Stock Plan

Note 11: Restricted Stock Plan

A summary of the status of the Company’s nonvested restricted shares as of March 31, 2024, and changes during the three months ended March 31, 2024, is presented below:

	Weighted-
	Average
	Grant-Date
	Shares	Fair Value
Nonvested, beginning of year	217,500	$	11.79
Granted	124,290		11.66
Vested	(62,500)		13.35
Forfeited	—		—
Nonvested, end of year	279,290	$	11.62

Total compensation cost recognized in the income statement for share-based payment arrangements during the three months ended March 31, 2024 and 2023 was $543,000 and $445,000, respectively.