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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest and Dividend Income      
Interest and fees on loans $ 47,322 $ 54,310 $ 40,823
Interest on investment securities 2,565 2,653 2,307
Dividends on investment securities 287 504 384
Other interest income 2,188 1,490 498
Total interest and dividend income 52,362 58,957 44,012
Interest Expense      
Interest on deposits 26,049 21,668 5,300
Interest on FHLB, FRB and correspondent bank borrowings 3,476 6,141 3,509
Interest on senior debt 1,159 1,159 866
Interest on subordinated debt 1,596 1,481 1,066
Interest on note payable 5 8 12
Total interest expense 32,285 30,457 10,753
Net interest income 20,077 28,500 33,259
Provision for credit losses 12,455 7,429 1,885
Net interest income after provision for credit losses 7,622 21,071 31,374
Non-interest Income      
Loan application, inspection and processing fees 625 694 386
Deposit fees and service charges 536 285 256
Gains on sales of loans 440 169 1,461
Rental income 302 395 566
(Loss) gain on sale of investment securities, net (334) 24 0
Digital Payments income 5,109 2,294 683
Other income 1,684 2,144 253
Total non-interest income 8,362 6,005 3,605
Non-interest Expense      
Salaries and benefits 17,896 17,598 15,506
Occupancy and equipment expense 3,208 3,410 3,428
Data processing expense 1,320 1,228 1,185
Professional and other outside services 3,700 3,369 2,664
Project expenses, net 0 93 133
Advertising and promotional expense 360 269 232
Loan administration and processing expense 167 259 234
Regulatory assessments 1,363 1,176 817
Insurance expense, net 316 277 271
Communications, stationary and supplies 973 870 616
Intangible asset impairment 0 1,107 0
Other operating expense 2,778 3,053 2,136
Total non-interest expense 32,081 32,709 27,222
(Loss) income before income taxes (16,097) (5,633) 7,757
Provision (benefit) for income taxes 23,785 (1,454) 1,596
Net (loss) income $ (39,882) $ (4,179) $ 6,161
Basic (loss) earnings per share (usd per share) $ (10.03) $ (1.05) $ 1.56
Diluted (loss) earnings per common share (usd per share) $ (10.03) $ (1.05) $ 1.55