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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities:    
Net loss $ (30,334) $ (5,084)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Accretion of investment premiums and discounts, net (113) (82)
Amortization and accretion of purchase loan premiums and discounts, net 51 1,648
Amortization of debt issuance costs 133 133
Amortization of core deposit intangible 35 35
Amortization of servicing assets of sold SBA loans 177 92
Provision for credit losses 4,776 8,233
Depreciation and amortization 823 904
Loss (gain) on sales of available-for-sale securities 24 (24)
Gain on sale of premises and equipment (3) 0
Share-based compensation 120 77
Decrease (increase) in deferred tax assets 23,100 (5,298)
Increase in deferred tax liabilities 723 0
Originations of loans held for sale, net (415,600) (21,312)
Proceeds from sale of loans held for sale 421,924 4,758
Gains on sale of loans held for sale, net (402) (169)
Changes in assets and liabilities:    
Decrease in accrued interest and dividends receivable 1,287 143
(Increase) decrease in other assets (361) 2,213
(Decrease) increase in accrued expenses and other liabilities (1,105) 3,185
Net cash provided by (used in) operating activities 5,255 (10,548)
Cash Flows from Investing Activities:    
Proceeds from maturity or sales on available-for-sale securities 2,281 1,780
Principal repayments on available-for-sale securities 2,987 3,408
Purchases of available-for-sale securities (2,319) (10,415)
(Purchases) Redemptions of FRB stock (19) 178
Redemptions (purchases) of FHLB stock 729 (1,498)
Origination of loans receivable (42,246) (152,758)
Purchases of loans receivable (127) (19,751)
Payments received on loans receivable 130,767 121,962
Purchases of premises and equipment (152) (397)
Proceeds from sale of premises and equipment 13 0
Net cash provided by (used in) investing activities 91,914 (57,491)
Cash Flows from Financing Activities:    
Decrease in deposits, net (15,422) (23,423)
Proceeds from FHLB daily borrowing, net 22,800 60,000
Repayments of FHLB long term borrowings (30,000) 0
Proceeds from FRB and correspondent bank borrowings 22,000 278,500
Repayments of FRB and correspondent bank borrowings (92,000) (208,500)
Principal repayments of note payable (160) (156)
Increase in advances from borrowers for taxes and insurance 1,849 2,053
Net cash (used in) provided by financing activities (90,933) 108,474
Net increase in cash, cash equivalents and restricted cash 6,236 40,435
Cash, cash equivalents and restricted cash at beginning of period 66,536 38,493
Cash, cash equivalents and restricted cash at end of period 72,772 78,928
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 25,182 20,611
Cash paid for income taxes 500 44
Non-cash transactions:    
Net change in unrealized (gain) loss on available-for-sale securities (2,217) 3,092
Transfers of SBA loans held for sale to loans receivable 5,526 0
Transfers of loans receivable to loans held for sale (4,339) 0
Capitalized servicing assets 119 85
Operating lease right-of-use assets / liabilities 300 16
(Decrease) increase in interest rate swaps (24) 169
Decrease in premises and equipment recorded under other assets 93 0
Expected credit loss for loans - ASC 326 adoption 0 13,001
Expected credit loss for unfunded loan commitments - ASC 326 adoption 0 2,737
Deferred tax assets - ASC 326 adoption $ 0 $ (4,228)