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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Dec. 31, 2022
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Cash flows from operating activities:            
Net Income $ 4,638   $ 5,482 $ 8,499 $ 14,916  
Adjustments to reconcile net income to net cash from operating activities            
Depreciation and amortization       1,648 754  
Provision for credit losses 2,688   2,913 5,359 5,860  
Noncash operating lease cost       373 445  
Net amortization in securities discounts and premiums       1 18  
Capitalized servicing assets       (150) (2,243)  
Gain on sale of loans, net   $ (2,100)   (887) (7,464)  
Originations of Strategic Program loans held-for-sale       (1,942,395) (4,436,343)  
Proceeds on Strategic Program loans held-for-sale       1,923,622 4,465,492  
Change in fair value of BFG (120)   575 (35) 973  
(Recovery) impairment of SBA servicing asset (339)   1,135 (592) 1,076  
Stock-based compensation expense       1,050 139  
Deferred income tax benefit       1,307 (195)  
Net changes in:            
Accrued interest receivable       (498) 126  
Accrued interest payable       412 (14)  
Other assets       (1,647) (725)  
Operating lease liabilities       (228) 13  
Other liabilities       (1,938) (5,337)  
Net cash provided by (used in) operating activities       (6,099) 37,491  
Cash flows from investing activities:            
Net (increase) decrease in loans receivable       (45,742) 10,036  
Purchase of lease pools       (12,386) 0  
Investment in equity investment       (9) 0  
Distributions from BFG       335 327  
Purchase of bank premises and equipment, net       (4,605) (2,784)  
Proceeds from maturities and paydowns of securities held-to-maturity       879 917  
Purchases of securities held to maturity       (992) (1,975)  
Purchase of FHLB stock       (27) (71)  
Net cash (used in) provided by investing activities       (62,547) 6,450  
Cash flows from financing activities:            
Net increase (decrease) in deposits       89,532 (32,533)  
Common stock repurchased       (2,388) 0  
Proceeds from exercise of stock options       40 40  
Repayment of PPP Liquidity Facility       (62) (674)  
Net cash used in financing activities       87,122 (33,167)  
Net change in cash and cash equivalents       18,476 10,774  
Cash and cash equivalents, beginning of the period       100,567 85,754 $ 85,754
Cash and cash equivalents, end of the period 119,043 $ 100,567 96,528 119,043 96,528 $ 100,567
Cash paid during the period            
Income taxes       5,050 7,257  
Interest       3,077 520  
Supplemental disclosures of noncash operating activities:            
Right-of-use assets obtained in exchange for operating lease liabilities (ASC 842 adoption effective January 1, 2022) $ 0   $ 0 $ 0 $ 7,380