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Stock Options and Warrants (Table)
12 Months Ended
Dec. 31, 2022
Stock Options And Warrants [Abstract]  
Summary of Stock Option Activity

A summary of stock option activity for years ended December 31, 2022 and 2021 is presented below:

 

 

December 31,

 

 

 

2022

 

 

2021

 

(Dollars in thousands, except share and per share data)

 

Shares
 Underlying
 Options

 

 

Weighted
Average
 Exercise Price

 

 

Shares
 Underlying
 Options

 

 

Weighted
Average
 Exercise Price

 

Outstanding at beginning of period

 

 

1,220,428

 

 

$

17.83

 

 

 

660,251

 

 

$

14.37

 

Granted during the period

 

 

136,000

 

 

 

21.15

 

 

 

788,250

 

 

 

20.22

 

Forfeited during the period

 

 

(105,167

)

 

 

21.18

 

 

 

(144,903

)

 

 

17.55

 

Exercised during the period

 

 

(47,333

)

 

 

14.38

 

 

 

(83,170

)

 

 

13.48

 

Outstanding at the end of period

 

 

1,203,928

 

 

$

18.05

 

 

 

1,220,428

 

 

$

17.83

 

Options exercisable at end of period

 

 

527,658

 

 

$

15.51

 

 

 

361,758

 

 

$

13.59

 

Weighted-average grant date fair value of options granted
   during the period

 

 

 

 

$

6.80

 

 

 

 

 

$

3.15

 

Schedule of Weighted Average Remaining life

A summary of weighted average remaining life is presented below:

 

 

December 31,

 

(Dollars in thousands, except
 share and per share data)

 

2022

 

 

2021

 

Exercise Price

 

Options Outstanding

 

 

Weighted
Average
Remaining Life (years)

 

 

Options Exercisable

 

 

Options Outstanding

 

 

Weighted
Average
Remaining Life (years)

 

 

Options
 Exercisable

 

$10.00 - $12.99

 

 

146,553

 

 

 

1.96

 

 

 

146,553

 

 

 

162,223

 

 

 

5.15

 

 

 

162,223

 

$13.00 - $16.99

 

 

435,175

 

 

 

6.45

 

 

 

280,905

 

 

 

496,955

 

 

 

7.48

 

 

 

199,535

 

$17.00 - $26.99

 

 

622,200

 

 

 

8.69

 

 

 

100,200

 

 

 

561,250

 

 

 

9.52

 

 

 

 

 

 

 

1,203,928

 

 

 

7.06

 

 

 

527,658

 

 

 

1,220,428

 

 

 

8.11

 

 

 

361,758

 

Schedule of Nonvested Share Activity

A summary of the activity in the Company’s nonvested shares is as follows:

 

 

December 31,

 

 

 

2022

 

 

2021

 

(Dollars in thousands, except share and per share data)

 

Shares

 

 

Weighted
Average
Grant Date
Fair Value

 

 

Shares

 

 

Weighted
Average
Grant Date
Fair Value

 

Nonvested at January 1,

 

 

858,670

 

 

$

3.15

 

 

 

262,670

 

 

$

3.04

 

Granted during the period

 

 

136,000

 

 

 

6.80

 

 

 

788,250

 

 

 

3.15

 

Vested during the period

 

 

(219,900

)

 

 

3.07

 

 

 

(72,500

)

 

 

3.17

 

Forfeited during the period

 

 

(98,500

)

 

 

3.70

 

 

 

(119,750

)

 

 

2.88

 

Nonvested at end of period

 

 

676,270

 

 

$

3.82

 

 

 

858,670

 

 

$

3.15

 

Schedule Of Stock Warrant Activity

A summary of the Company’s stock warrant activity is presented below:

 

 

December 31,

 

 

 

2022

 

 

2021

 

(Dollars in thousands, except share and per share data)

 

Shares
Underlying
Warrants

 

 

Weighted
Average
Exercise
Price

 

 

Shares
Underlying
Warrants

 

 

Weighted
Average
Exercise
Price

 

Outstanding at beginning of period

 

 

4,285

 

 

$

11.00

 

 

 

6,000

 

 

$

11.00

 

Granted

 

 

175,000

 

 

 

22.50

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

(1,715

)

 

 

11.00

 

Outstanding at end of period

 

 

179,285

 

 

$

22.23

 

 

 

4,285

 

 

$

11.00

 

Exercisable at end of period

 

 

179,285

 

 

$

22.23

 

 

 

4,285

 

 

$

11.00

 

Summary of Activity for Nonvested RSAs

A summary of the activity for non-vested RSAs for the years ended December 31, 2022, 2021 and 2020 is presented below:

 

 

December 31,

 

 

 

2022

 

 

2021

 

(Dollars in thousands, except share and per share data)

 

Shares

 

 

Weighted
Average
Grant Date
 Fair Value

 

 

Shares

 

 

Weighted
Average
Grant Date
 Fair Value

 

Nonvested at beginning of period

 

 

49,750

 

 

$

24.00

 

 

 

 

 

$

 

Granted during the period

 

 

54,424

 

 

 

21.81

 

 

 

49,750

 

 

 

24.00

 

Vested during the period

 

 

(18,580

)

 

 

24.00

 

 

 

 

 

 

 

Forfeited during the period

 

 

(9,500

)

 

 

24.67

 

 

 

 

 

 

 

Nonvested at the end of period

 

 

76,094

 

 

$

22.35

 

 

 

49,750

 

 

$

24.00