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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities:    
Net loss $ (7,778) $ (3,380)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Accretion of investment premiums and discounts, net (77) (68)
Amortization and accretion of purchase loan premiums and discounts, net (21) 76
Amortization of debt issuance costs 106 88
Amortization of core deposit intangible 24 24
Amortization of servicing assets of sold SBA loans 68 140
Provision for credit losses 2,257 3,750
Depreciation and amortization 534 557
Loss on sales of available-for-sale securities 0 24
Gain on sale of premises and equipment (1) (3)
Share-based compensation 1,296 65
Increase in deferred tax assets 0 (906)
Decrease in deferred tax liabilities (48) 0
Originations of loans held for sale, net (406,732) (274,325)
Proceeds from sale of loans held for sale 403,450 280,134
Loss (gain) on sale of loans, net 916 (321)
Write-down of other real estate owned 253 0
Changes in assets and liabilities:    
Decrease in accrued interest and dividends receivable 564 767
Decrease (increase) in other assets 1,744 (260)
(Decrease) increase in accrued expenses and other liabilities (1,445) 1,484
Net cash (used in) provided by operating activities (4,890) 7,846
Cash Flows from Investing Activities:    
Proceeds from maturity or sales on available-for-sale securities 0 2,281
Principal repayments on available-for-sale securities 1,688 1,997
Purchases of available-for-sale securities 0 (2,319)
Purchases of FRB stock (974) (103)
Redemptions of FHLB stock 100 631
Payments received on loans receivable, net 120,976 68,958
Purchases of loans receivable (177) (86)
Purchases of premises and equipment (73) (91)
Proceeds from sale of premises and equipment 1 13
Net cash provided by investing activities 121,541 71,281
Cash Flows from Financing Activities:    
Decrease in deposits, net (135,740) (39,409)
Repayments from FHLB daily borrowing, net (3,000) (13,100)
Proceeds from FRB and correspondent bank borrowings 70,000 12,000
Repayments of FRB and correspondent bank borrowings (70,000) (13,000)
Principal repayments of note payable (108) (106)
Increase in advances from borrowers for taxes and insurance 1,504 1,604
Proceeds from preferred stock issuance 5,450 0
Private Placement Costs for preferred stock (351) 0
Proceeds from common stock issuance 59,735 0
Private Placement Costs for common stock (3,779) 0
Net cash used in financing activities (76,289) (52,011)
Net increase in cash, cash equivalents and restricted cash 40,362 27,116
Cash, cash equivalents and restricted cash at beginning of period 162,610 66,536
Cash, cash equivalents and restricted cash at end of period 202,972 93,652
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 15,927 14,832
Cash (refund from) paid for income taxes, net (18) 500
Non-cash transactions:    
Net change in unrealized (gain) loss on available-for-sale securities (2,246) 541
Transfers of loans held for sale to loans receivable 3,765 5,526
Deferred cost for capital raise (120) 0
Deferred debt issuance costs (23) 0
Senior debt conversion to common stock (6,847) 0
Subordinated debt conversion to common stock (2,000) 0
Accrued interest capitalized into principal $ 1,090 $ 0