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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 40,625 $ 27,005
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 79,064 9,915
Depreciation and amortization 1,809 1,587
Loss on disposition of fixed assets 35 0
Decrease in operating lease right-of-use assets 1,087 1,056
Decrease in operating lease liabilities (1,086) (1,044)
Gain on sales of loans 0 (396)
Net (discount accretion)/premium amortization on investment securities (50) 32
Unrealized holding loss (gain) on equity investment 153 (1,469)
Stock-based compensation 2,517 1,284
Gain on sale of bank branch, including deposits and loans 0 (1,263)
Increase in bank-owned life insurance value (360) (172)
Deferred tax benefit (11,018) (3,011)
Net change in CCBX receivable (9,150) (1,096)
Net change in CCBX credit enhancement asset (44,665) (8,712)
Net change in CCBX payable 18,578 1,841
Net change in other assets and liabilities (10,441) 4,290
Total adjustments 26,473 2,842
Net cash provided by operating activities 67,098 29,847
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of investment securities available for sale (134,912) (117,493)
Change in other investments, net (2,230) (950)
Principal paydowns of investment securities available-for-sale 17 33
Principal paydowns of investment securities held-to-maturity 256 1,515
Maturities and calls of investment securities available-for-sale 70,000 102,500
Purchase of bank owned life insurance (53) (5,000)
Proceeds from sales of loans held for sale 152,546 0
Proceeds from sales of loan participations 10,300 0
Purchase of loans (168,464) (60,260)
Purchase of loan participations (52) 0
Proceeds from sale of loans related to sale of bank branch 0 4,092
Increase in loans receivable, net (912,518) (141,503)
Net cash transfer for branch sale 0 (19,980)
Purchases of premises and equipment, net (2,838) (2,593)
Net cash used by investing activities (987,948) (239,639)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in demand deposits, NOW and money market, and savings 467,744 980,766
Net decrease in time deposits (14,010) (14,223)
Net repayment from long term FHLB borrowing (24,999) 0
Increase from subordinated debt proceeds 19,625 24,263
Decrease from subordinated debt repayment 0 (10,000)
Net advances from Paycheck Protection Program Liquidity Facility 0 (153,716)
Proceeds from exercise of stock options 1,468 359
Proceeds from public offering 0 32,387
Net cash provided by financing activities 449,828 859,836
NET CHANGE IN CASH, DUE FROM BANKS AND RESTRICTED CASH (471,022) 650,044
CASH, DUE FROM BANKS AND RESTRICTED CASH, beginning of year 813,161 163,117
CASH, DUE FROM BANKS AND RESTRICTED CASH, end of year 342,139 813,161
SUPPLEMENTAL SCHEDULE OF OPERATING AND INVESTING ACTIVITIES    
Interest paid 20,068 3,820
Income taxes paid 23,498 8,759
SUPPLEMENTAL SCHEDULE OF NONCASH TRANSACTIONS    
Fair value adjustment of securities available-for-sale, gross (2,959) (37)
In conjunction with ASU 2016-02 as detailed in Note 6 to the Unaudited Consolidated Financial Statements, the following assets and liabilities were recognized:    
Operating lease right-of-use assets 0 41
Operating lease liabilities 0 (41)
Transfer from loans to loans held for sale $ 152,546 $ 0