Stock Options and Warrants (Table)
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12 Months Ended |
Dec. 31, 2022 |
Stock Options And Warrants [Abstract] |
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Summary of Stock Option Activity |
A summary of stock option activity for years ended December 31, 2022 and 2021 is presented below:
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December 31, |
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2022 |
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2021 |
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(Dollars in thousands, except share and per share data) |
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Shares Underlying Options |
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Weighted Average Exercise Price |
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Shares Underlying Options |
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Weighted Average Exercise Price |
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Outstanding at beginning of period |
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1,220,428 |
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$ |
17.83 |
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660,251 |
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$ |
14.37 |
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Granted during the period |
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136,000 |
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21.15 |
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788,250 |
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20.22 |
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Forfeited during the period |
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(105,167 |
) |
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21.18 |
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(144,903 |
) |
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|
17.55 |
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Exercised during the period |
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(47,333 |
) |
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14.38 |
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(83,170 |
) |
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13.48 |
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Outstanding at the end of period |
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1,203,928 |
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$ |
18.05 |
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1,220,428 |
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$ |
17.83 |
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Options exercisable at end of period |
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527,658 |
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$ |
15.51 |
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361,758 |
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$ |
13.59 |
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Weighted-average grant date fair value of options granted during the period |
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$ |
6.80 |
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$ |
3.15 |
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Schedule of Weighted Average Remaining life |
A summary of weighted average remaining life is presented below:
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December 31, |
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(Dollars in thousands, except share and per share data) |
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2022 |
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2021 |
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Exercise Price |
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Options Outstanding |
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Weighted Average Remaining Life (years) |
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Options Exercisable |
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Options Outstanding |
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Weighted Average Remaining Life (years) |
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Options Exercisable |
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$10.00 - $12.99 |
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146,553 |
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1.96 |
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146,553 |
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162,223 |
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5.15 |
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162,223 |
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$13.00 - $16.99 |
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435,175 |
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6.45 |
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280,905 |
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496,955 |
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7.48 |
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199,535 |
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$17.00 - $26.99 |
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622,200 |
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8.69 |
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100,200 |
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561,250 |
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9.52 |
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— |
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1,203,928 |
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7.06 |
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527,658 |
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1,220,428 |
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8.11 |
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361,758 |
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Schedule of Nonvested Share Activity |
A summary of the activity in the Company’s nonvested shares is as follows:
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December 31, |
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2022 |
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2021 |
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(Dollars in thousands, except share and per share data) |
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Shares |
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Weighted Average Grant Date Fair Value |
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Shares |
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Weighted Average Grant Date Fair Value |
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Nonvested at January 1, |
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858,670 |
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$ |
3.15 |
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|
262,670 |
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$ |
3.04 |
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Granted during the period |
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136,000 |
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|
6.80 |
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788,250 |
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|
3.15 |
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Vested during the period |
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(219,900 |
) |
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3.07 |
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(72,500 |
) |
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3.17 |
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Forfeited during the period |
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(98,500 |
) |
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3.70 |
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(119,750 |
) |
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2.88 |
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Nonvested at end of period |
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676,270 |
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$ |
3.82 |
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858,670 |
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$ |
3.15 |
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Schedule Of Stock Warrant Activity |
A summary of the Company’s stock warrant activity is presented below:
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December 31, |
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2022 |
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2021 |
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(Dollars in thousands, except share and per share data) |
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Shares Underlying Warrants |
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Weighted Average Exercise Price |
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Shares Underlying Warrants |
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Weighted Average Exercise Price |
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Outstanding at beginning of period |
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4,285 |
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$ |
11.00 |
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6,000 |
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$ |
11.00 |
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Granted |
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175,000 |
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22.50 |
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— |
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— |
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Exercised |
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— |
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— |
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(1,715 |
) |
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11.00 |
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Outstanding at end of period |
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179,285 |
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$ |
22.23 |
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4,285 |
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$ |
11.00 |
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Exercisable at end of period |
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179,285 |
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$ |
22.23 |
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4,285 |
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$ |
11.00 |
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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:
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December 31, |
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2022 |
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2021 |
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(Dollars in thousands, except share and per share data) |
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Shares |
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Weighted Average Grant Date Fair Value |
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Shares |
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Weighted Average Grant Date Fair Value |
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Nonvested at beginning of period |
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49,750 |
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$ |
24.00 |
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— |
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$ |
— |
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Granted during the period |
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54,424 |
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21.81 |
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49,750 |
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|
24.00 |
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Vested during the period |
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(18,580 |
) |
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24.00 |
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— |
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— |
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Forfeited during the period |
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(9,500 |
) |
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24.67 |
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— |
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— |
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Nonvested at the end of period |
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76,094 |
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$ |
22.35 |
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49,750 |
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$ |
24.00 |
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