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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
ASSETS    
Cash and due from banks $ 2,715 $ 2,790
Interest-bearing deposits in banks 104,382 52,589
Cash and cash equivalents 107,097 55,379
Time deposits in banks 2,381 2,381
Investment securities available for sale 32,535 0
Investment securities held to maturity 3 41
Restricted equity securities, at cost 2,827 2,362
Residential loans held for sale 91,243 208,704
SBA loans held for investment, at fair value 9,805 9,264
Loans held for investment, at amortized cost net of allowance for loan losses of $16,616 and $21,162 629,873 1,197,896
Accrued interest receivable 4,292 7,300
Premises and equipment, net 24,622 18,115
Loan servicing rights 6,155 8,160
Right-of-use operating lease assets 4,345 3,737
Bank owned life insurance 12,434 12,183
Other assets 16,131 19,169
Total assets 943,743 1,544,691
Liabilities:    
Noninterest-bearing deposits 87,625 62,650
Interest-bearing transaction accounts 157,304 140,265
Savings and money market deposits 377,452 286,744
Time deposits 52,653 69,125
Total deposits 675,034 558,784
Subordinated debentures 5,983 5,948
Notes payable 3,413 3,754
PPP Liquidity Facility 144,601 881,262
Accrued interest payable 562 1,999
Operating lease liabilities 4,545 3,925
Accrued expenses and other liabilities 15,307 17,950
Total liabilities 849,445 1,473,622
Shareholders’ equity:    
Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 3,919,977 and 3,485,018 shares issued and outstanding at September 30, 2021 and December 31, 2020 50,546 43,043
Accumulated other comprehensive income (loss), net (201) 0
Unearned compensation (23) (41)
Retained earnings 33,622 13,390
Total shareholders’ equity 94,298 71,069
Total liabilities and shareholders’ equity 943,743 1,544,691
Preferred Stock, Series A    
Shareholders’ equity:    
Preferred stock 6,161 6,161
Preferred Stock, Series B    
Shareholders’ equity:    
Preferred stock $ 4,193 $ 8,516