Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock compensation expense

The Company recorded the following Stock compensation expense in its consolidated statements of income (in thousands):

	Years Ended December 31,
	2023		2022		2021
Stock option grants	$	60		69		69
Restricted stock awards		1,028		800		492
Employee stock grant		50		50		50
Annual director stock award		600		650		500
	$	1,738		1,569		1,111

Summary of changes in outstanding options

A Summary of changes in outstanding options is presented below (in thousands, except share and per share amounts):

				Weighted		Weighted		Weighted
	Number			Average		Average		Average
	of			Exercise		Remaining		Grant Date
Options	Shares			Price		Term (yrs)		Fair Value(000's)
Outstanding at
January 1, 2021		120,089		$	35.33		5.3	$	1,531
Exercised		(15,334	)	$	17.54			$	(115	)
Outstanding at
December 31, 2021		104,755		$	37.93		4.8	$	1,416
Exercised		(16,460	)	$	25.07			$	(145	)
Outstanding at
December 31, 2022		88,295		$	40.33		4.4	$	1,271
Exercised		(24,855	)	$	41.21			$	(290	)
Outstanding at
December 31, 2023		63,440		$	39.99		3.5	$	981
Exercisable at
December 31, 2023		63,440		$	39.99		3.5	$	981
Vested during
twelve months ended
December 31, 2023		3,990						$	65

Stock options outstanding

The following table summarizes information concerning Stock options outstanding at December 31, 2023:

	Shares	Weighted			Weighted
Range of Exercise	under	Average			Average
Prices per Share	Option	Exercise Price			Remaining Life
Exercisable:
$26.96 - $33.70	15,630			28.95		1.4
$33.70 - $42.13	12,000			38.45		3.0
$42.13 - $45.97	35,810			45.32		4.5
Total	63,440		$	39.99		3.5	Years

Changes in restricted stock awards

A summary of Changes in restricted stock awards is presented below (in thousands, except share and per share amounts):

				Weighted		Weighted	Weighted
	Number			Average		Average	Average
	Of			Exercise		Remaining	Grant Date
Restricted stock	Shares			Price		Term (yrs)	Fair Value(000's)
Non-vested at January 1, 2021		20,520		$	46.30	3.4	$	950
Time-based awards granted		8,896			45.55			405
Performance-based awards granted		18,882			45.55			860
Vested		(2,224	)		45.55			(101	)
Non-vested at December 31, 2021		46,074		$	45.88	3.1	$	2,114
Time-based awards granted		7,448			57.80			431
Performance-based awards granted		14,016			57.80			810
Vested		(15,679	)		47.56			(746	)
Forfeited		(1,363	)		46.30			(63	)
Non-vested at December 31, 2022		50,496		$	50.42	3.0	$	2,546
Time-based awards granted		7,980			53.86			430
Performance-based awards granted		17,304			53.92			933
Vested		(21,053	)		48.06			(1,012	)
Non-vested at December 31, 2023		54,727		$	52.94	2.8	$	2,897