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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Cash and due from banks:    
Noninterest bearing deposits and cash $ 2,106 $ 3,295
Interest bearing deposits 178,889 144,273
Restricted cash 20,535 15,042
Total cash, cash equivalents and restricted cash 201,530 162,610
Investment securities:    
Available-for-sale securities, at fair value 105,549 79,992
Other investments, at cost 0 4,450
Total investment securities 105,549 84,442
Federal Reserve Bank (FRB) stock, at cost 2,452 1,377
Federal Home Loan Bank (FHLB) stock, at cost 679 779
Loans receivable (net of allowance for credit losses: 2025: $(7,187) and 2024: $(7,305)) 581,479 700,167
Loans held for sale 18,408 15,702
Accrued interest and dividends receivable 4,257 5,488
Premises and equipment, net 28,210 28,865
Other real estate owned 0 2,843
Core deposit intangible, net 121 156
Other assets 8,067 9,863
Total assets 950,752 1,012,292
Deposits:    
Noninterest bearing deposits 87,766 119,212
Interest bearing deposits 743,089 847,385
Total deposits 830,855 966,597
FHLB, FRB and correspondent bank borrowings 0 3,000
Senior notes, net 0 11,861
Subordinated debt, net 8,283 9,898
Junior subordinated debt owed to unconsolidated trust, net 8,155 8,147
Note payable 0 162
Advances from borrowers for taxes and insurance 2,391 1,472
Accrued expenses and other liabilities 6,045 6,890
Total liabilities 855,729 1,008,027
Commitments and Contingencies
Shareholders' equity    
Common stock 204,287 106,854
Accumulated deficit (97,343) (86,908)
Accumulated other comprehensive loss (11,921) (15,681)
Total shareholders' equity 95,023 4,265
Total liabilities and shareholders' equity $ 950,752 $ 1,012,292