v3.26.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

PAY VERSUS PERFORMANCE

As required by Item 402(v) of Regulation S-K, the Company is providing the following information about the relationship between executive compensation as reported in the Summary Compensation Table, “Compensation Actually Paid” ("CAP") as defined by the SEC, and certain financial performance of the Company. CAP is calculated in accordance with SEC rules and does not reflect the actual amount of compensation earned or paid during the applicable year.

The following table shows the total compensation from the Summary Compensation Table and the CAP for the Company’s Chief Executive Officer (”CEO”), and the average CAP paid to the other non-CEO named executive officers ("NEOs") during each of the last three years. The table also provides information on the Corporation's Total Shareholder Return ("TSR") and the Company's Net Income.

 

Year

Summary
Compensation
Table Total
for CEO
(1)

Compensation
Actually Paid
to CEO
(2)

Average
Summary
Compensation
Table Total
for NEOs
(3)

Average
Compensation
Actually Paid
to NEOs
(4)

Value of Initial
Fixed $100
Investment
Based On TSR
(5)

Net Income
(thousands)
(6)

 

(a)

 

(b)

 

 

(c)

 

 

(d)

 

 

(e)

 

 

(f)

 

 

(g)

 

2025

 

 

1,317,222

 

 

 

1,585,328

 

 

 

795,814

 

 

 

949,684

 

 

 

113.31

 

 

 

18,611

 

2024

 

 

1,440,493

 

 

 

1,716,832

 

 

 

818,926

 

 

 

977,005

 

 

 

112.33

 

 

 

10,242

 

2023

 

 

1,477,217

 

 

 

2,002,312

 

 

 

848,063

 

 

 

1,120,437

 

 

 

116.96

 

 

 

25,765

 

 

(1)
The CEO, included in all years above, is Mr. Dietzler. The dollar amounts reported in column (b) are the amounts of total compensation reported for Mr. Dietzler for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation—Summary Compensation Table.”
(2)
The dollar amounts reported in column (c) represent the amount of CAP to Mr. Dietzler. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Dietzler during the applicable year. The following adjustments were made to Mr. Dietzler’s total compensation for each year to determine his CAP:

 

Year

Reported
Summary
Compensation
Table Total
for CEO
($)

Reported
Value of Equity
Awards
(a)
($)

Equity
Award
Adjustments
(b)
($)

Compensation
Actually Paid
to CEO
($)

 

2025

 

 

1,317,222

 

 

 

333,363

 

 

 

268,106

 

 

 

1,585,328

 

2024

 

 

1,440,493

 

 

 

325,130

 

 

 

276,338

 

 

 

1,716,832

 

2023

 

 

1,477,217

 

 

 

281,428

 

 

 

525,095

 

 

 

2,002,312

 

 

(a)
The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” columns in the Summary Compensation Table for the applicable year.
(b)
The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) an amount equal to the change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, an amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The valuation assumptions used to calculate fair
values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows:

 

Year

 

Year End
Fair Value of
Outstanding
and Unvested
Equity Awards
Granted in
the Year
($)

 

Year over
Year Change
in Fair
Value of
Outstanding
and Unvested
Equity
Awards
Granted in
Prior Years
($)

 

Fair Value as
of Vesting Date
of Equity
Awards Granted
and Vested in
the Year
($)

 

Year over
Year Change in
Fair Value of
Equity Awards
Granted in
Prior Years
that Vested
in the Year
($)

 

Fair Value at
the End of the
Prior Year of
Equity
Awards
that Failed to
Meet Vesting
Conditions in
the Year
($)

 

Value of
Dividends
or other
Earnings
Paid on Stock
or Option
Awards
not Otherwise
Reflected in
Fair Value
or Total
Compensation
($)

 

Total
Equity
Award
Adjustments
($)

2025

 

(22,735)

 

212,915

 

N/A

 

77,926

 

N/A

 

-

 

268,106

2024

 

17,620

 

180,792

 

N/A

 

77,926

 

N/A

 

-

 

276,338

2023

 

10,741

 

366,004

 

N/A

 

128,210

 

N/A

 

20,140

 

525,095

 

(3)
The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s NEOs in the “Total” column of the Summary Compensation Table in each applicable year. The NEOs included for purposes of calculating the average amounts in each applicable year are Mr. O’Donnell and Ms. Adkins.
(4)
The dollar amounts reported in column (e) represent the average amount of CAP to the NEOs as a group. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs during the applicable year. The following adjustments were made to average total compensation for the NEOs for each year to determine the CAP, using the same methodology described in Note 2 above:

 

Year

 

Average
Reported Summary
Compensation Table
Total for NEOs
($)

 

 

Average
Reported
Value of Equity Awards
($)

 

 

Average Equity
Award Adjustments
(a)
($)

 

 

Average Compensation
Actually Paid to NEOs
($)

 

2025

 

 

795,814

 

 

 

177,323

 

 

 

153,870

 

 

 

949,684

 

2024

 

 

818,926

 

 

 

173,114

 

 

 

158,079

 

 

 

977,005

 

2023

 

 

848,063

 

 

 

148,317

 

 

 

272,374

 

 

 

1,120,437

 

 

(a)
The amounts deducted or added in calculating the total average equity award adjustments are as follows:

 

Year

 

Year End
Fair Value
of
Outstanding
and Unvested
Equity
Awards
Granted in
the Year
($)

 

Year over
Year Change
in Fair Value
of
Outstanding
and Unvested
Equity
Awards
Granted in
Prior Years
($)

 

Fair Value
as of
Vesting Date
of Equity
Awards
Granted
and
Vested in
the Year
($)

 

Year over Year
Change in Fair
Value of Equity
Awards Granted
in Prior Years
that Vested in
the Year
($)

 

Fair Value
at the End
of the Prior
Year of Equity
Awards that
Failed to
Meet Vesting
Conditions
in the Year
($)

 

Value of
Dividends or
other Earnings
Paid on Stock
or Option Awards
not Otherwise
Reflected in Fair
Value or Total
Compensation
($)

 

Total
Equity
Award
Adjustments
($)

2025

 

(12,093)

 

121,572

 

N/A

 

44,391

 

N/A

 

-

 

153,870

2024

 

9,382

 

104,306

 

N/A

 

44,391

 

N/A

 

-

 

158,079

2023

 

5,661

 

209,750

 

N/A

 

45,955

 

N/A

 

11,008

 

272,374

 

(5)
Cumulative TSR is calculated by dividing the sum of the cumulative amount of cash dividends for the measurement period, assuming dividend reinvestment, and the difference between the Corporation’s share price at the end and the beginning of the measurement period by the share price at the beginning of the measurement period.
(6)
The dollar amounts reported represent the amount of net income (loss) reflected in our consolidated audited financial statements for the applicable year.
   
Named Executive Officers, Footnote
(3)
The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s NEOs in the “Total” column of the Summary Compensation Table in each applicable year. The NEOs included for purposes of calculating the average amounts in each applicable year are Mr. O’Donnell and Ms. Adkins.
   
PEO Total Compensation Amount $ 1,317,222 $ 1,440,493 $ 1,477,217
PEO Actually Paid Compensation Amount $ 1,585,328 1,716,832 2,002,312
Adjustment To PEO Compensation, Footnote

Year

Reported
Summary
Compensation
Table Total
for CEO
($)

Reported
Value of Equity
Awards
(a)
($)

Equity
Award
Adjustments
(b)
($)

Compensation
Actually Paid
to CEO
($)

 

2025

 

 

1,317,222

 

 

 

333,363

 

 

 

268,106

 

 

 

1,585,328

 

2024

 

 

1,440,493

 

 

 

325,130

 

 

 

276,338

 

 

 

1,716,832

 

2023

 

 

1,477,217

 

 

 

281,428

 

 

 

525,095

 

 

 

2,002,312

 

Year

 

Year End
Fair Value of
Outstanding
and Unvested
Equity Awards
Granted in
the Year
($)

 

Year over
Year Change
in Fair
Value of
Outstanding
and Unvested
Equity
Awards
Granted in
Prior Years
($)

 

Fair Value as
of Vesting Date
of Equity
Awards Granted
and Vested in
the Year
($)

 

Year over
Year Change in
Fair Value of
Equity Awards
Granted in
Prior Years
that Vested
in the Year
($)

 

Fair Value at
the End of the
Prior Year of
Equity
Awards
that Failed to
Meet Vesting
Conditions in
the Year
($)

 

Value of
Dividends
or other
Earnings
Paid on Stock
or Option
Awards
not Otherwise
Reflected in
Fair Value
or Total
Compensation
($)

 

Total
Equity
Award
Adjustments
($)

2025

 

(22,735)

 

212,915

 

N/A

 

77,926

 

N/A

 

-

 

268,106

2024

 

17,620

 

180,792

 

N/A

 

77,926

 

N/A

 

-

 

276,338

2023

 

10,741

 

366,004

 

N/A

 

128,210

 

N/A

 

20,140

 

525,095

   
Non-PEO NEO Average Total Compensation Amount $ 795,814 818,926 848,063
Non-PEO NEO Average Compensation Actually Paid Amount $ 949,684 977,005 1,120,437
Adjustment to Non-PEO NEO Compensation Footnote

Year

 

Average
Reported Summary
Compensation Table
Total for NEOs
($)

 

 

Average
Reported
Value of Equity Awards
($)

 

 

Average Equity
Award Adjustments
(a)
($)

 

 

Average Compensation
Actually Paid to NEOs
($)

 

2025

 

 

795,814

 

 

 

177,323

 

 

 

153,870

 

 

 

949,684

 

2024

 

 

818,926

 

 

 

173,114

 

 

 

158,079

 

 

 

977,005

 

2023

 

 

848,063

 

 

 

148,317

 

 

 

272,374

 

 

 

1,120,437

 

 

(a)
The amounts deducted or added in calculating the total average equity award adjustments are as follows:

 

Year

 

Year End
Fair Value
of
Outstanding
and Unvested
Equity
Awards
Granted in
the Year
($)

 

Year over
Year Change
in Fair Value
of
Outstanding
and Unvested
Equity
Awards
Granted in
Prior Years
($)

 

Fair Value
as of
Vesting Date
of Equity
Awards
Granted
and
Vested in
the Year
($)

 

Year over Year
Change in Fair
Value of Equity
Awards Granted
in Prior Years
that Vested in
the Year
($)

 

Fair Value
at the End
of the Prior
Year of Equity
Awards that
Failed to
Meet Vesting
Conditions
in the Year
($)

 

Value of
Dividends or
other Earnings
Paid on Stock
or Option Awards
not Otherwise
Reflected in Fair
Value or Total
Compensation
($)

 

Total
Equity
Award
Adjustments
($)

2025

 

(12,093)

 

121,572

 

N/A

 

44,391

 

N/A

 

-

 

153,870

2024

 

9,382

 

104,306

 

N/A

 

44,391

 

N/A

 

-

 

158,079

2023

 

5,661

 

209,750

 

N/A

 

45,955

 

N/A

 

11,008

 

272,374

   
Compensation Actually Paid vs. Total Shareholder Return

CAP and Cumulative TSR

The amount of CAP to Mr. Dietzler, our CEO, is aligned with the Company's TSR for the years ended December 31, 2023 and 2024, but not for the year ended December 31, 2025. When using the value of stock at December 31, 2022 as a benchmark, and stating the value of an initial fixed investment of $100, our TSR rose to 116.96 in 2023, decreased to $112.33 in 2024 and increased to $113.31 in 2025. As reflected in the above analysis, the CAP to our CEO increased by 20.3% in 2023, and decreased by 14.3% in 2024, but decreased by 7.7% in 2025.

The amount of CAP to our NEOs as a group also is aligned with the Company's TSR for the years ended December 31, 2023 and 2024, but not for year ended December 31, 2025. The changes to our TSR are outlined above. As reflected in the above analysis, the CAP for our NEOs increased by 18.2% in 2023 when compared to 2022, and then decreased by 13.68% in 2024 when compared to 2023, and decreased by 2.8% in 2025 when compared to 2024. Further information regarding these awards can be found above in our Summary Compensation Table.

   
Compensation Actually Paid vs. Net Income

CAP and Net Income

In 2023, our net income decreased by 2.8% against the previous net income from 2022. In 2024, our net income decreased by 60.2% against the previous net income from 2023. In 2025, our net income has increased by 81.7% against the previous net income from 2024. The CAP for our CEO increased by 20.3% in 2023 over 2022, decreased by 14.3% in 2024 when compared to 2023, and decreased again in 2025 by 7.7% when compared to 2024. The CAP for our NEOs increased by 18.2% in 2023 when compared to 2022, and then decreased by 13.68% in 2024 when compared to 2023, and decreased by 2.8% in 2025 when compared to 2024.

   
Total Shareholder Return Amount $ 113.31 112.33 116.96
Net Income (Loss) $ 18,611,000 $ 10,242,000 $ 25,765,000
PEO Name Mr. Dietzler Mr. Dietzler Mr. Dietzler
PEO | Equity Awards Adjustments      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 268,106 $ 276,338 $ 525,095
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 333,363 325,130 281,428
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (22,735) 17,620 10,741
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 212,915 180,792 366,004
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 77,926 77,926 128,210
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 20,140
Non-PEO NEO | Equity Awards Adjustments      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 153,870 158,079 272,374
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 177,323 173,114 148,317
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (12,093) 9,382 5,661
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 121,572 104,306 209,750
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 44,391 44,391 45,955
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 $ 0 $ 11,008