v3.25.2
Note 7 - Stock-based Compensation (Tables)
6 Months Ended
Jun. 30, 2025
Notes Tables  
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
  

2024

 

Expected life of stock options (in years)

  6.2 

Risk free interest rate

  3.98%

Annualized Volatility

  32.3%

Dividend yields

  3.17%

Weighted-average fair value of options granted during the six months ended June 30, 2024

 $9.25 
Share-Based Payment Arrangement, Option, Activity [Table Text Block]
  

Shares

  

Weighted Average Exercise Price

  

Weighted Average Remaining Contractual Term in Years

  

Intrinsic Value

 

Options outstanding at January 1, 2024

  165,517  $21.52         

Options exercised

  (32,070)  17.03         

Options cancelled

  (1,600)  24.40         

Options outstanding at December 31, 2024

  131,847  $22.58         

Options cancelled

  (800) $24.40         

Options exercised

  (28,855)  22.74         

Options outstanding at June 30, 2025

  102,192  $22.52   1.7  $2,242,440 

Options exercisable at June 30, 2025

  102,192  $22.52   1.7  $2,242,440 
  

Shares

  

Weighted Average Exercise Price

  

Weighted Average Remaining Contractual Term in Years

  

Intrinsic Value

 

Options outstanding at January 1, 2024

  105,500  $31.00         

Options granted

  107,200   34.07         

Options cancelled

  (1,200)  34.07         

Options exercised

  (1,300)  31.00         

Options outstanding at December 31, 2024

  210,200  $32.55         

Options granted

  -             

Options cancelled

  (1,800)  34.07         

Options exercised

  (360)  34.07         

Options outstanding at June 30, 2025

  208,040  $32.53   7.7  $2,481,438 

Options exercisable at June 30, 2025

  64,080  $31.98   7.3  $723,463 

Options expected to vest after June 30, 2025

  136,762  $32.78   7.9  $1,597,697 
Share-Based Payment Arrangement, Cost by Plan [Table Text Block]
  

2025

  

2024

 

Fair value of options vested

 $-  $- 

Intrinsic value of options exercised

 $243,000  $4,000 

Cash received from option exercises

 $254,000  $8,000 

Tax benefit from option exercises

 $2,000  $- 

Compensation cost

 $96,000  $131,000 

Tax benefit associated with compensation cost

 $5,000  $13,000 
  

2025

  

2024

 

Fair value of options vested

 $193,000  $7,000 

Intrinsic value of options exercised

 $614,000  $536,000 

Cash received from option exercises

 $583,000  $367,000 

Tax benefit from option exercises

 $19,000  $69,000 

Compensation cost

 $163,000  $219,000 

Tax benefit associated with compensation cost

 $9,000  $20,000