Compensation and Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2021

Compensation And Retirement Disclosure [Abstract]

Summary of ESOP Shares

A summary of the ESOP shares as of June 30, 2021 and December 31, 2020 are as follows:

	June 30, 2021		December 31, 2020
	(Dollars in thousands)
Shares committed-to-be released		24,126		48,250
Shares allocated to participants		173,027		129,270
Unallocated shares		506,625		530,751
Total		703,778		708,271
Fair value of unallocated shares	$	6,920	$	5,578

Schedule of Restricted Stock Units Awards Activity and Related Information

A summary of the Company’s restricted stock unit awards activity and related information for the three and six months ended June 30, 2021 and year ended December 31, 2020 are as follows:

	June 30, 2021
	Number of Shares			Weighted- Average Grant Date Fair Value Per Share
Non-vested, beginning of year		335,919		$	12.66
Granted		—			—
Forfeited		—			—
Vested		—			—
Non-vested at March 31		335,919			12.66
Granted		—			—
Forfeited		—			—
Vested		—			—
Non-vested at June 30		335,919		$	12.66
	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
Forfeited		(3,000	)		12.77
Vested		(96,825	)		12.77
Non-vested at December 31		335,919		$	12.66

Schedule of Stock Option Awards Activity and Related Information

A summary of the Company’s stock option awards activity and related information for the three and six months ended June 30, 2021 and year ended December 31, 2020 are as follows:

	June 30, 2021
	Options		Weighted- Average Exercise Price Per Share
Outstanding, beginning of year		203,766	$	12.02
Granted		—		—
Exercised		—		—
Forfeited		—		—
Outstanding at March 31		203,766		12.02
Granted		—		—
Exercised		—		—
Forfeited		—		—
Outstanding at June 30 (1)		203,766	$	12.02
Exercisable at June 30 (1)		63,938	$	12.29

	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 at December 31 (1)		203,766	$	12.02
Exercisable at 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 $325,125 for outstanding options and $87,625 for exercisable options at June 30, 2021 and was $0 for outstanding options and $0 for exercisable options 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 Six Months Ended June 30,
	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