Acquisition of CFBanc Corporation (Tables)

3 Months Ended

Mar. 31, 2021

Acquisition of CFBanc Corporation [Abstract]

The unaudited pro forma information in the following table is intended for informational purposes only and is not necessarily indicative of future operating results or operating results that would have occurred had the mergers been completed at the beginning of each respective year. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, expense efficiencies or asset dispositions.

	Three Months Ended March 31, 2021			Twelve Months Ended December 31, 2020
	(Dollars in thousands, except per share) (Unaudited)
Net interest income	$	5,633		$	23,781
Net income	$	(3,873	)	$	1,571

Basic earnings per share	$	(0.07	)	$	0.03
Diluted earnings per share	$	(0.07	)	$	0.03

Common Stock Issued Result of Merger and Result of Private Placements by Class

The following table shows the common stock issued on April 1, 2021 as a result of the merger and on April 6, 2021 as a result of the private placements by class:

	Common Shares Outstanding
	Voting Class A			Nonvoting Class B		Nonvoting Class C		Total Shares

Shares outstanding March 31, 2021:		19,142,498			-		8,756,396		27,898,894

Shares issued in merger		13,999,870			11,404,621		-		25,404,491
Shares exchanged post-merger		(681,300	)		-		681,300		-
Shares cancelled		(52,105	)		-		-		(52,105	)
Shares issued in private placements		11,221,921			-		7,252,079		18,474,000

Shares outstanding April 6, 2021:		43,630,884			11,404,621		16,689,775		71,725,280