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Subsequent Events
12 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On February 7, 2022, the Company announced an increase in its quarterly dividend rate to $0.22 per share, from the prior rate of $0.20 per share, and the authorization of a share repurchase program, pursuant to which the Company may purchase shares of its common stock for an aggregate repurchase price not to exceed $40 million. This program has an initial expiration date of December 31, 2022 and does not obligate the Company to purchase any shares.
The Consolidated Balance Sheet at December 31, 2021 included $61.0 million in SBA and other loans held for sale. Approximately $9.6 million of these loans were SBA loans that were sold in the ordinary course of business subsequent to December 31, 2021. The remaining $51.4 million were comprised of Select loans that did not align with the Company's strategy or were out-of-market and were thus designated for sale. Subsequent to December 31, 2021, these loans were sold at a price that approximated the December 31, 2021 carrying value.