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Consolidated Statements of Changes in Shareholders' Equity - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Less: ESOP-Owned Shares
Initial Public Offering
Initial Public Offering
Common Stock
Initial Public Offering
Additional Paid in Capital
Private Placement Offering
Private Placement Offering
Common Stock
Private Placement Offering
Additional Paid in Capital
Series A Preferred Stock
Series A Preferred Stock
Retained Earnings
Series A Preferred Stock
Preferred Stock
Series A Preferred Stock
Private Placement Offering
Preferred Stock
Balance at Dec. 31, 2019 $ 56,521 $ 3,923 $ 41,832 $ 12,490   $ (941) $ (783)                    
Net income 12,115     12,115                          
Share-based compensation 275   275                            
Stock options exercised 385 32 353                            
Common stock issued for acquisition of Heritage Bancorp, Inc. 50,861 2,363 48,498                            
Issuance of common stock to ESOP (1) 32 504       (537)                    
Net change in fair value of ESOP shares 18           18                    
Net redemption of treasury stock (37)         (37)                      
Other comprehensive income (loss), net of tax 279       $ 279                        
Balance at Dec. 31, 2020 120,416 6,350 91,462 24,605 279 (978) (1,302)                    
Net income 11,424     11,424                          
Share-based compensation 659   659                            
Warrants exercised 19 2 17                            
Stock options exercised 995 83 912                            
Stock issued from initial public offering and private placement offering               $ 92,043 $ 4,025 $ 88,018 $ 70,509 $ 2,938 $ 67,571        
Issuance of common stock to ESOP   34 613       (647)                    
Terminated ESOP put option 2,266           2,266                    
Restricted stock grants   50 (50)                            
Net change in fair value of ESOP shares (317)           $ (317)                    
Net redemption of treasury stock (121)         (121)                      
Other comprehensive income (loss), net of tax 1,114       1,114                        
Balance at Dec. 31, 2021 299,007 13,482 249,202 36,029 1,393 (1,099)                      
Net income 18,659     18,659                          
Share-based compensation 1,275   1,275                            
Stock options exercised 672 47 625                            
Stock issued from initial public offering and private placement offering                     $ 66,225   $ 66,156       $ 69
Issuance of common stock to ESOP 856 36 820                            
Restricted stock grants   45 (45)                            
Other comprehensive income (loss), net of tax (3,496)       (3,496)                        
Preferred dividends declared - Series A $20.44 per share                           $ (1,418) $ (1,418)    
Balance at Dec. 31, 2022 $ 381,780 $ 13,610 $ 318,033 $ 53,270 $ (2,103) $ (1,099)                   $ 69