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Recent Developments
3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Recent Developments
Note 16 – Recent Developments

On March 14, 2026, the Company received an unsolicited preliminary, non-binding proposal from LKCM Headwater Investments, LLC, together with its affiliates and related parties which includes LKCM (the “LKCM Group”), to acquire all of the outstanding shares of the Company’s common stock not currently owned by LKCM Group for $29.50 per share in cash (the
“Take-Private Proposal”). As of the date of such filing, LKCM Group, together with its affiliates, beneficially owned approximately 78.7% of the Company’s outstanding shares of common stock. On April 6, 2026, the Company’s Board of Directors formed a special committee comprised of independent and disinterested directors (the “Special Committee”) to review, evaluate and negotiate the Proposal and determine the Company’s response thereto. The Special Committee has retained independent legal counsel and an independent financial advisor to assist it in connection with its review. The Proposal is preliminary and non-binding and is subject to, among other things, confirmatory due diligence, negotiation and execution of definitive documentation, and may be modified or withdrawn at any time. There can be no assurance that the Special Committee will recommend the Proposal, that any definitive agreement will be executed, that any required approvals will be obtained, or that any transaction will be approved or consummated on the proposed terms, or at all.