Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Schedule of Common Stock Outstanding Roll Forward

A roll forward of common stock activity is presented in the following table:

Number of Shares of Common Stock

	Outstanding
	Class A	Class B
Common stock - June 30, 2023	13,514,849	1,005,185
Restricted stock units vested, net of shares held to cover taxes	69	—
Common stock - September 30, 2023	13,514,918	1,005,185
Common stock - December 31, 2022	13,501,017	1,005,185
Restricted stock units vested, net of shares held to cover taxes	13,901	—
Common stock - September 30, 2023	13,514,918	1,005,185

Schedule of Preferred Stock and Depositary Shares

The following table summarizes BancShares’ non-cumulative perpetual preferred stock.

Preferred Stock

dollars in millions, except per share and par value data
Preferred Stock	Issuance Date	Earliest Redemption Date	Par Value		Shares Issued and Outstanding	Liquidation Preference Per Share		Total Liquidation Preference	Dividend	Dividend Payment Dates
Series A	March 12, 2020	March 15, 2025	$	0.01	345,000	$	1,000	345	5.375%	Quarterly in arrears on March 15, June 15, September 15, and December 15
Series B (1)	January 3, 2022	January 4, 2027	$	0.01	325,000	$	1,000	325	SOFR + 3.972%
Series C	January 3, 2022	January 4, 2027	$	0.01	8,000,000	$	25	200	5.625%

(1) Beginning July 1, 2023, BancShares has moved to Term SOFR plus a credit spread adjustment for its Series B Preferred Stock. The final dividend payment based on a LIBOR accrual occurred September 15, 2023.