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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash Flows from Operating Activities:    
Net loss $ (10,435) $ (30,334)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Accretion of investment premiums and discounts, net (165) (113)
Amortization and accretion of purchase loan premiums and discounts, net (166) 51
Amortization of debt issuance costs 208 133
Amortization of core deposit intangible 35 35
Amortization of servicing assets of sold SBA loans 145 177
Provision for credit losses 1,826 4,776
Depreciation and amortization 765 823
Loss on sales of available-for-sale securities 0 24
Gain on sale of premises and equipment (1) (3)
Share-based compensation 3,102 120
Decrease in deferred tax assets 0 23,100
(Decrease) increase in deferred tax liabilities (52) 723
Originations of loans held for sale, net (627,502) (415,600)
Proceeds from sale of loans held for sale 620,827 421,924
Loss (gain) on sale of loans, net 1,908 (402)
Write-down of other real estate owned 77 0
Changes in assets and liabilities:    
Decrease in accrued interest and dividends receivable 1,231 1,287
Decrease (increase) in other assets 1,969 (361)
Decrease in accrued expenses and other liabilities (3,900) (1,105)
Net cash (used in) provided by operating activities (10,128) 5,255
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 2,908 2,987
Purchases of available-for-sale securities (24,540) (2,319)
Purchases of FRB stock (1,075) (19)
Redemptions of FHLB stock 100 729
Payments received on loans receivable, net 144,953 88,521
Purchases of loans receivable (26,040) (127)
Proceeds from maturity or sales on other investments 4,450 0
Purchases of premises and equipment (92) (152)
Proceeds from sale of premises and equipment 1 13
Proceeds from sale of other real estate owned 2,766 0
Net cash provided by investing activities 103,431 91,914
Cash Flows from Financing Activities:    
Decrease in deposits, net (135,742) (15,422)
(Repayments) proceeds from FHLB daily borrowing, net (3,000) 22,800
Repayments of FHLB long term borrowings 0 (30,000)
Proceeds from FRB and correspondent bank borrowings 70,000 22,000
Repayments of FRB and correspondent bank borrowings (70,000) (92,000)
Principal repayments of senior notes (3,046) 0
Principal repayments of note payable (162) (160)
Increase in advances from borrowers for taxes and insurance 919 1,849
Proceeds from preferred stock issuance 5,450 0
Private Placement Costs for preferred stock (351) 0
Proceeds from common stock issuance 85,572 0
Private Placement Costs for common stock (4,023) 0
Net cash used in financing activities (54,383) (90,933)
Net increase in cash, cash equivalents and restricted cash 38,920 6,236
Cash, cash equivalents and restricted cash at beginning of period 162,610 66,536
Cash, cash equivalents and restricted cash at end of period 201,530 72,772
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 23,262 25,182
Cash (refund from) paid for income taxes, net (18) 500
Net change in unrealized gain on available-for-sale securities (3,760) (2,217)
Transfers of loans held for sale to loans receivable 4,048 5,526
Transfers of loans receivable to loans held for sale 0 (4,339)
Retained beneficial interest 606 0
Capitalized servicing assets 48 119
Capitalized project costs 98 0
Operating lease right-of-use assets 10 300
Increase (decrease) in interest rate swaps (41) (24)
Deferred cost for capital raise (120) 0
Deferred debt issuance costs 23 0
Preferred Stock conversion to Common Stock 5,099 0
Senior debt conversion to common stock (9,705) 0
Subordinated debt conversion to common stock (2,000) 0
Accrued interest capitalized into principal $ 1,098 $ 93