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Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)
Total
Preferred Stock (Series A)
Preferred Stock
Preferred Stock (Series A)
Common Stock
Voting Common Stock
Additional Paid in Capital
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
Retained Earnings
Preferred Stock (Series A)
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Balance at Dec. 31, 2022 $ 381,780,000   $ 69,000 $ 13,610,000 $ 318,033,000 $ 53,270,000     $ (2,103,000) $ (1,099,000)
Net income 18,134,000         18,134,000        
Share-based compensation 767,000       767,000          
Stock options exercised 0                  
Warrants exercised 47,000     4,000 43,000          
Restricted stock grants       74,000 (74,000)          
Other comprehensive income, net of tax 732,000               732,000  
Preferred dividends declared - Series A   $ (2,355,000)           $ (2,355,000)    
Balance at Jun. 30, 2023 395,945,000   69,000 13,688,000 318,769,000 65,889,000     (1,371,000) (1,099,000)
Balance (ASU 2016-13) at Jun. 30, 2023 (3,160,000)           $ (3,160,000)      
Balance at Mar. 31, 2023 387,044,000   69,000 13,658,000 318,350,000 58,182,000     (2,116,000) (1,099,000)
Net income 8,891,000         8,891,000        
Share-based compensation 402,000       402,000          
Warrants exercised 47,000     4,000 43,000          
Restricted stock grants       26,000 (26,000)          
Other comprehensive income, net of tax 745,000               745,000  
Preferred dividends declared - Series A   (1,184,000)           (1,184,000)    
Balance at Jun. 30, 2023 395,945,000   69,000 13,688,000 318,769,000 65,889,000     (1,371,000) (1,099,000)
Balance (ASU 2016-13) at Jun. 30, 2023 (3,160,000)           $ (3,160,000)      
Balance at Dec. 31, 2023 411,974,000   69,000 13,683,000 319,613,000 78,775,000     933,000 (1,099,000)
Net income 21,163,000         21,163,000        
Share-based compensation 788,000       788,000          
Stock options exercised 171,000     17,000 154,000          
Restricted stock grants       45,000 (45,000)          
Restricted stock forfeited or withheld to satisfy tax obligations (15,000)     (1,000) (14,000)          
Other comprehensive income, net of tax 3,272,000               3,272,000  
Preferred dividends declared - Series A   (2,355,000)           (2,355,000)    
Balance at Jun. 30, 2024 434,998,000   69,000 13,744,000 320,496,000 97,583,000     4,205,000 (1,099,000)
Balance at Mar. 31, 2024 423,618,000   69,000 13,731,000 320,077,000 87,971,000     2,869,000 (1,099,000)
Net income 10,796,000         10,796,000        
Share-based compensation 432,000       432,000          
Restricted stock grants       13,000 (13,000)          
Other comprehensive income, net of tax 1,336,000               1,336,000  
Preferred dividends declared - Series A   $ (1,184,000)           $ (1,184,000)    
Balance at Jun. 30, 2024 $ 434,998,000   $ 69,000 $ 13,744,000 $ 320,496,000 $ 97,583,000     $ 4,205,000 $ (1,099,000)