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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities:      
Net (loss) income $ (39,882) $ (4,179) $ 6,161
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Accretion of investment premiums and discounts, net (160) (116) (51)
Amortization and accretion of purchase loan premiums and discounts, net 17 1,902 2,722
Amortization of debt issuance costs 177 177 38
Amortization of core deposit intangible 47 46 47
Amortization of servicing assets of sold SBA loans 229 114 98
Impairment of intangible assets 0 1,107 0
Provision for credit losses 12,455 7,429 1,885
Depreciation and amortization 1,078 1,193 1,325
Loss (gain) on sales of available-for-sale securities 334 (24) 0
Gain on sale of premises and equipment (3) 0 0
Share-based compensation 184 105 86
Increase (Decrease) in Deferred Tax Assets 23,100 (4,211) 1,490
Increase in deferred tax liabilities 724 0 0
Originations of loans held for sale, net (577,242) (189,453) (23,972)
Proceeds from sale of loans held for sale 581,560 174,066 23,077
Gains on sale of loans held for sale, net (440) (169) (1,461)
Changes in assets and liabilities:      
Decrease in accrued interest and dividends receivable 1,731 48 (1,445)
(Increase) decrease in other assets (1,123) 1,750 (879)
Decrease in accrued expenses and other liabilities (103) (500) (2,085)
Net cash provided by (used in) operating activities 2,683 (10,715) 7,036
Cash Flows from Investing Activities:      
Proceeds from maturity or sales on available-for-sale securities 8,325 1,780 3,600
Principal repayments on available-for-sale securities 3,629 4,324 6,723
Purchases of available-for-sale securities (2,319) (10,415) (19,330)
Redemptions of FRB stock 713 537 216
Redemptions (purchases) of FHLB stock 3,423 (328) 310
Origination of loans receivable (48,936) (145,531) (211,383)
Purchases of loans receivable (187) (21,108) (141,412)
Payments received on loans receivable 170,405 143,977 239,639
Purchases of premises and equipment (55) (412) (414)
Proceeds from sale of premises and equipment 13 0 0
Net cash provided by (used in) investing activities 135,011 (27,176) (122,051)
Increase (decrease) in deposits, net      
Increase (decrease) in deposits, net 126,286 (20,135) 111,884
(Repayments) proceeds from FHLB daily borrowing, net (68,000) 16,000 (5,000)
Repayments of FHLB long term borrowings (30,000) 0 0
Proceeds from FRB and correspondent bank borrowings 42,000 285,500 40,000
Repayments of FRB and correspondent bank borrowings (112,000) (215,500) (40,000)
Principal repayments of senior notes 0 0 (12,000)
Proceeds from issuance of senior notes 0 0 12,000
Principal repayments of note payable (214) (209) (206)
Increase in advances from borrowers for taxes and insurance 308 278 (215)
Net cash (used in) provided by financing activities (41,620) 65,934 106,463
Net increase (decrease) in cash, cash equivalents and restricted cash 96,074 28,043 (8,552)
Cash, cash equivalents and restricted cash at beginning of period 66,536 38,493 47,045
Cash, cash equivalents and restricted cash at end of period 162,610 66,536 38,493
Supplemental Disclosures of Cash Flow Information:      
Cash paid for interest 31,924 29,631 10,472
Cash paid for income taxes, net 66 3,536 102
Non-cash transactions:      
Change in unrealized loss (gain) on available-for-sale securities, net of tax 420 (384) 14,008
Transfers of SBA loans held for sale to loans receivable 5,526 0 274
Transfers of loans receivable to loans held for sale (4,339) 0 0
Transfers of loans receivable to OREO 0 2,843 0
Capitalized servicing assets 138 85 400
Operating lease right-of-use assets / liabilities 177 16 80
Increase (decrease) in interest rate swaps 9 (129) (535)
Deferred cost for capital raise (120) 0 (825)
Deferred debt issuance costs 0 56 360
Decrease in premises and equipment recorded under other liabilities (65) 0 0
Expected credit loss for loans - ASC 326 adoption 0 13,001 0
Expected credit loss for unfunded loan commitments - ASC 326 adoption 0 2,737 0
Deferred tax assets - ASC 326 adoption 0 (4,228) 0
Retained earnings adjustment - ASC 326 adoption $ 0 $ 11,510 $ 0