v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows From Operating Activities    
Net income (loss) $ 862 $ (14,328)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 703 811
Deferred income tax expense 1,408 505
(Recovery of ) provision for credit losses - loans (700) 3,600
Recovery of credit losses - unfunded commitments 0 (1,500)
Accretion of fair value adjustments on acquired loans, time deposits and subordinated notes (845) (831)
Fair value adjustments of other equity investments 155 8,544
Net adjustments attributable to mortgage servicing rights 137 (2,748)
Increase in cash surrender value of bank owned life insurance (16) (670)
Proceeds from sale of mortgage loans held for sale 42,075 132,141
Mortgage loans held for sale, originated (34,316) (131,359)
Gain on sale of mortgage loans (541) (616)
Proceeds from sale of guaranteed government loans held for sale 0 1,616
Guaranteed government loans held for sale, originated 0 (293)
Gain on sale of guaranteed government loans 0 (102)
Loss (gain) on disposal of premises and equipment, other investments, other assets, and other real estate owned 250 (257)
Investment amortization expense, net 145 276
Amortization of subordinated debt issuance costs 188 17
Intangible amortization 478 563
Decrease in accrued interest receivable 826 795
Decrease in other assets 10,809 1,784
Decrease other liabilities (14,550) (10,281)
Cash provided by (used in) operating activities 7,068 (12,333)
Cash Flows From Investing Activities    
Purchase of securities available for sale (21,174) 0
Proceeds from calls, sales, paydowns, and maturities of securities available for sale 10,643 14,457
Net decrease (increase) in federal funds sold 210 (768)
Proceeds from sale of other investments, other assets, MSRs, and other real estate owned 395 11,570
Capital calls of SBIC funds and other investments (1,544) (2,161)
Nonincome distributions from limited liability companies 53 482
Net decrease in loans held for investment 133,821 151,406
Proceeds from surrender of bank owned life insurance policies 212 6,677
Net change in restricted equity and other investments 346 (100)
Purchase of premises and equipment (152) (209)
Cash provided by investing activities 122,810 181,354
Cash Flows From Financing Activities:    
Net increase (decrease) in demand, savings, and other interest-bearing deposits 6,185 (327,090)
Net (decrease) increase in time deposits (175,301) 87,075
FHLB advances 0 586,000
FHLB repayments 0 (593,100)
FRB repayments 0 (65,000)
Subordinated note repayments (15,000) 0
Proceeds from Private Placements, net of issuance costs 0 152,474
Exercises of warrants to purchase common stock 9,445 0
Cash used in financing activities (174,671) (159,641)
Net (decrease) increase in cash and due from banks (44,793) 9,380
Cash and due from banks and restricted cash at beginning of period 175,992 121,151
Cash and due from banks and restricted cash at end of period 131,199 130,531
Supplemental Schedule of Cash Flow Information    
Interest 33,155 43,425
Income taxes 2,160 6
Non-cash investing and financing activities:    
Loans held for investment transferred to other non-real estate owned 222 0
Unrealized gains on securities available for sale 5,537 1,012
Restricted stock awards, net of forfeitures $ 2,398 $ 906