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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Cash and due from banks $ 32,722 $ 14,496
Interest earning deposits with other banks 309,417 798,665
Investment securities, available for sale, at fair value 97,317 35,327
Investment securities, held to maturity, at amortized cost 1,036 1,296
Other investments 10,555 8,478
Loans receivable 2,627,256 1,742,735
Allowance for loan losses (74,029) (28,632)
Total loans receivable, net 2,553,227 1,714,103
CCBX credit enhancement asset 53,377 8,712
CCBX receivable 10,416 1,266
Premises and equipment, net 18,213 17,219
Operating lease right-of-use assets 5,018 6,105
Accrued interest receivable 17,815 8,105
Bank-owned life insurance, net 12,667 12,254
Deferred tax asset, net 18,458 6,818
Other assets 4,229 2,673
Total assets 3,144,467 2,635,517
LIABILITIES    
Deposits 2,817,521 2,363,787
Federal Home Loan Bank ("FHLB") advances 0 24,999
Principal amount $45,000 and $25,000 (less unamortized debt issuance costs of $1,001 and $712) at December 31, 2022 and December 31, 2021, respectively 43,999 24,288
Principal amount $3,609 (less unamortized debt issuance costs of $21 and $23 at December 31, 2022 and December 31, 2021, respectively) 3,588 3,586
Deferred compensation 616 744
Accrued interest payable 684 357
Operating lease liabilities 5,234 6,320
CCBX payable 20,419 1,841
Other liabilities 8,912 8,373
Total liabilities 2,900,973 2,434,295
SHAREHOLDERS’ EQUITY    
Authorized: 25,000,000 shares at December 31, 2022 and December 31, 2021; issued and outstanding: zero shares at December 31, 2022 and December 31, 2021 0 0
Authorized: 300,000,000 shares at December 31, 2022 and December 31, 2021; 13,161,147 shares at December 31, 2022 issued and outstanding and 12,875,315 shares at December 31, 2021 issued and outstanding 125,830 121,845
Retained earnings 119,998 79,373
Accumulated other comprehensive (loss) income, net of tax (2,334) 4
Total shareholders’ equity 243,494 201,222
Total liabilities and shareholders’ equity $ 3,144,467 $ 2,635,517