v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash Flows From Operating Activities    
Net income (loss) $ 10,709 $ (15,385)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 1,366 1,532
Deferred income tax expense 1,236 (6,186)
Recovery of credit losses - loans (3,900) (2,900)
Recovery of credit losses - unfunded commitments (100) (2,200)
Accretion of fair value adjustments on acquired loans, time deposits and subordinated notes (1,818) (1,546)
Proceeds from sale of other loans held for sale 0 25,250
Proceeds from sale of mortgage loans held for sale 42,370 220,694
Mortgage loans held for sale, originated (34,168) (211,840)
Gain on sale of mortgage loans (532) (2,425)
Proceeds from sale of guaranteed government loans held for sale 0 1,636
Guaranteed government loans held for sale, originated 0 (293)
Gain on sale of guaranteed government loans 0 (102)
Increase in cash surrender value of bank owned life insurance (33) (855)
Fair value adjustments of other equity investments 112 8,152
MSR 385 (629)
(Income) loss on sale of MSRs (1,427) 3,607
Realized loss on sale of securities available for sale 0 67
Loss on disposal of premises and equipment, other investments, other assets, and other real estate owned 283 44
Investment amortization expense, net 205 513
Amortization of subordinated debt issuance costs 15 34
Intangible amortization 914 1,083
Decrease in accrued interest receivable 1,750 2,430
Decrease (increase) in other assets 9,931 (18,753)
Decrease in other liabilities (13,673) (8,238)
Cash provided by (used in) operating activities 13,625 (6,310)
Cash Flows From Investing Activities    
Purchase of securities available for sale (36,004) (15,382)
Proceeds from calls, sales, paydowns, and maturities of securities available for sale 30,190 26,954
Net (increase) decrease in federal funds sold (1,013) 3,613
Proceeds from sale of premises and equipment, other investments, other assets, MSRs, and other real estate owned 1,533 37,526
Capital calls of SBIC funds and other investments (2,147) (2,834)
Nonincome distributions from limited liability companies 540 741
Net decrease in loans held for investment 249,723 321,796
Proceeds from surrender of bank owned life insurance policies 212 48,225
Net change in restricted equity and other investments 502 (1,018)
Purchase of premises and equipment (1,679) (588)
Cash provided by investing activities 241,857 419,033
Cash Flows From Financing Activities    
Net decrease in demand, savings, and other interest-bearing deposits (40,887) (521,285)
Net (decrease) increase in time deposits (227,295) 134,993
FHLB advances 0 726,000
FHLB repayments 0 (786,000)
FRB repayments 0 (65,000)
Subordinated note redemptions (25,000) 0
Proceeds from Private Placements, net of issuance costs 0 152,140
Common stock dividends paid (22,595) 0
Repurchases of common stock and warrants to purchase common stock (9,506) 0
Warrants exercised 9,758 1,270
Cash used in financing activities (315,525) (357,882)
Net (decrease) increase in cash and due from banks (60,043) 54,841
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 115,949 175,992
Supplemental Schedule of Cash Flow Information    
Interest 61,137 83,528
Income taxes 6,575 0
Non-cash investing and financing activities:    
Loans held for investment transferred to loans held for sale 0 14,384
Loans held for sale transferred to loans held for investment 0 3,328
Loans held for investment transferred to other real estate owned 1,461 409
Loans held for investment transferred to other non-real estate owned 222 0
Unrealized gain on securities available for sale 14,897 3,272
Restricted stock awards, net of forfeitures 2,739 1,180
Conversion of preferred stock into common stock $ 0 $ 116,035