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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income from continuing operations $ 2,896 $ 4,254
Net loss from discontinued operations (69) (207)
Net income 2,827 4,047
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation of fixed assets 1,847 1,744
Net securities premium amortization 89 69
Amortization of debt issuance costs 5 5
Amortization of premium on loans purchased, net 596 182
Provision for credit losses 10,180 7,708
Accretion of discount on unguaranteed loans (2,207) (2,302)
Deferred tax expense 772 1,361
Origination of government guaranteed loans held for sale (2,821) (4,276)
Proceeds from sales of government guaranteed loans held for sale 306,139 350,521
Net gains on sales of government guaranteed loans (19,827) (17,576)
Change in fair value of government guaranteed loans HFI, at fair value (9,923) (11,021)
Amortization of loan servicing rights 4,389 3,080
Net gain on sale of other real estate owned 0 (355)
Non-qualified stock purchase plan expense 18 20
Stock based compensation expense 283 439
Income from bank owned life insurance (530) (471)
Changes in:    
Accrued interest receivable (1,407) (2,455)
Other assets 4,100 883
Accrued interest payable 232 (72)
Other liabilities (1,418) (3,856)
Net cash provided by operating activities of continuing operations 293,413 327,882
Net cash used in operating activities of discontinued operations (341) (337)
Net cash provided by operating activities 293,072 327,545
Cash flows from investing activities:    
Purchase of investment securities available for sale (4,458) 0
Principal payments on investment securities available for sale 6,862 2,736
Principal payments on investment securities held to maturity 1 1
Call of investment securities held to maturity 0 2,500
Net purchase of nonmarketable equity securities (227) (213)
Purchase of time deposits in banks (14) 0
Maturity of time deposits in banks 2,396 250
Purchase of government guaranteed and consumer loans (812) (106,413)
Loan originations, net (414,023) (373,529)
Purchase related to other real estate owned (1,229) 0
Purchase of premises and equipment (1,709) (6,199)
Proceeds on sales of other real estate owned 1,633 2,314
Net cash used in investing activities (411,580) (478,553)
Cash flows from financing activities:    
Net change in deposits 127,058 222,726
Net increase in short-term borrowings 0 (25,000)
Payments on notes payable (341) (341)
Proceeds from issuance of preferred stock, net 0 1,835
Repayment of subordinated debt 0 (50)
Proceeds from issuance of common stock for benefit plans, net (18) 296
Common share buyback - redeemed stock 0 (13)
Unearned ESOP shares (44) (329)
Dividends paid on common stock (993) (985)
Dividends paid on preferred stock (1,156) (624)
Net cash provided by financing activities 124,506 197,515
Net change in cash and cash equivalents 5,998 46,507
Cash and cash equivalents, beginning of period 58,385 66,046
Cash and cash equivalents, end of period 64,383 112,553
Supplemental cash flow information    
Interest paid 33,451 22,181
Income taxes paid 8 2
Supplemental noncash disclosures    
Impact to retained earnings from adoption of ASC 326, net of tax 0 2,508
Net change in unrealized holding gains (losses) on investment securities available for sale, net of tax effect 669 103
Transfer of government guaranteed loans HFI to loans HFS 289,482 336,914
Transfer of loans HFI to OREO 404 0
Transfer of loans HFI to repossessed assets 94 0
Transfer of premises and equipment to OREO 0 (1,903)
Recognition of right of use asset and operating lease liability $ 263 $ 0