Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2021 and 2020:

	Year Ended December 31,
	2021		2020
Basic:
Net income	$	24,618	$	12,703
Less: Preferred stock dividends	1,005		863
Net income available to common shareholders	$	23,613	$	11,840
Weighted average common shares outstanding	3,802,935		3,430,716
Basic earnings per common share	$	6.21	$	3.45
Diluted:
Net income	$	24,618	$	12,703
Less: Preferred stock dividends	1,005		863
Add: Series B preferred stock dividends	429		186
Net income available to common shareholders	$	24,042	$	12,026
Weighted average common shares outstanding for basic earnings per common share	3,802,935		3,430,716
Add: Dilutive effects of conversion of Series B preferred stock to common stock	270,743		570,607
Add: Dilutive effects of assumed exercises of stock options/warrants	111,905		—
Average shares and dilutive potential common shares	4,185,583		4,001,323
Diluted earnings per common share	$	5.74	$	3.01