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Acquisition of CFBanc Corporation (Tables) | 3 Months Ended
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Mar. 31, 2021
Acquisition of CFBanc Corporation [Abstract] |
Unaudited Pro Forma Information | The unaudited pro forma information in the following table is intended for informational purposes only and is not necessarily indicative of future operating results or operating results that would have occurred had the mergers been completed at the beginning of each respective year. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, expense efficiencies or asset dispositions.
|  | Three Months Ended March 31, 2021 |  |  | Twelve Months Ended December 31, 2020 |
|  | (Dollars in thousands, except per share) (Unaudited) |
Net interest income |  | $ | 5,633 |  |  | $ | 23,781 |
Net income |  | $ | (3,873 | ) |  | $ | 1,571 |
Basic earnings per share |  | $ | (0.07 | ) |  | $ | 0.03 |
Diluted earnings per share |  | $ | (0.07 | ) |  | $ | 0.03 |
Common Stock Issued Result of Merger and Result of Private Placements by Class | The following table shows the common stock issued on April 1, 2021 as a result of the merger and on April 6, 2021 as a result of the private placements by class:
|  | Common Shares Outstanding |  |  |  |
|  | Voting Class A |  |  | Nonvoting Class B |  |  | Nonvoting Class C |  |  | Total Shares |
Shares outstanding March 31, 2021: |  |  | 19,142,498 |  |  |  | - |  |  |  | 8,756,396 |  |  |  | 27,898,894 |
Shares issued in merger |  |  | 13,999,870 |  |  |  | 11,404,621 |  |  |  | - |  |  |  | 25,404,491 |
Shares exchanged post-merger |  |  | (681,300 | ) |  |  | - |  |  |  | 681,300 |  |  |  | - |
Shares cancelled |  |  | (52,105 | ) |  |  | - |  |  |  | - |  |  |  | (52,105 | )
Shares issued in private placements |  |  | 11,221,921 |  |  |  | - |  |  |  | 7,252,079 |  |  |  | 18,474,000 |
Shares outstanding April 6, 2021: |  |  | 43,630,884 |  |  |  | 11,404,621 |  |  |  | 16,689,775 |  |  |  | 71,725,280 |

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