Compensation and Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Summary of ESOP Shares

A summary of the ESOP shares as of December 31, 2021 and 2020 are as follows:

	December 31, 2021		December 31, 2020
	(Dollars in thousands)
Shares committed-to-be-released (1)		96,500		48,250
Shares allocated to participants		170,145		129,270
Unallocated shares (1)		434,251		530,751
Total		700,896		708,271
Fair value of unallocated shares	$	6,297	$	5,578

(1)  During the year, the Company increased the shares committed-to-be-released by an additional 48,250 shares resulting in a total of 96,500 shares to be released as of December 31, 2021 compared to 48,250 shares as of December 31, 2020.

Schedule of Restricted Stock Units Activity and Related Information

A summary of the Company’s restricted stock units activity and related information for the years ended December 31, 2021 and 2020 are as follows:

	December 31, 2021
	Number of Shares			Weighted- Average Grant Date Fair Value Per Share
Non-vested, beginning of year		335,919		$	12.66
Granted		—			—
Vested		(98,232	)		12.69
Forfeited		—			—
Non-vested at December 31		237,687		$	12.65

	December 31, 2020
	Number of Shares			Weighted- Average Grant Date Fair Value Per Share
Non-vested, beginning of year		420,744		$	12.78
Granted		15,000			10.05
Vested		(96,825	)		12.77
Forfeited		(3,000	)		12.77
Non-vested at December 31		335,919		$	12.66

Schedule of Stock Option Activity and Related Information

A summary of the Company’s stock options activity and related information for the years ended December 31, 2021 and 2020 are as follows:

	December 31, 2021
	Options		Weighted- Average Exercise Price Per Share
Outstanding, beginning of year		203,766	$	12.02
Granted		—		—
Exercised		—		—
Forfeited		—		—
Outstanding at December 31 (1)		203,766	$	12.02
Exercisable at December 31 (1)		94,904	$	12.45
	December 31, 2020
	Options		Weighted- Average Exercise Price Per Share
Outstanding, beginning of year		163,766	$	12.78
Granted		40,000		8.93
Exercised		—		—
Forfeited		—		—
Outstanding, December 31 (1)		203,766	$	12.02
Exercisable, December 31 (1)		55,938	$	12.77

(1) The aggregate intrinsic value, which represents the difference between the price of the Company’s common stock at respective periods and the stated exercise price of the underlying options, was $505,000 for outstanding options and $195,000 for exercisable options at December 31, 2021 and $0 for outstanding options and $0 for exercisable options at December 31, 2020.

Schedule of Fair Value of Option Grant Using Black-Scholes Option Pricing Model With Weighted Average Assumptions

The fair value of each option grant is estimated on the date of grant using Black-Scholes option pricing model with the following weighted average assumptions:

	For the Years Ended December 31,
	2021			2020
Dividend yield		0.00	%		0.00	%
Expected life	6.5 years			6.5 years
Expected volatility		38.51	%		38.51	%
Risk-free interest rate		0.48	%		0.48	%
Weighted average grant date fair value	$	3.77		$	3.77