v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net (loss) income $ (24,808) $ 1,954
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 2,186 660
Depreciation and amortization 410 424
Net change of deferred loan origination costs 531 641
Net accretion of premiums and discounts on available-for-sale securities (387) (807)
Accretion of purchase accounting marks on loans (253) (424)
Amortization of core deposit intangible 315 336
Accretion of premium on FHLB advances 0 (9)
ESOP compensation expense 149 188
Earnings on bank owned life insurance (342) (46)
Goodwill impairment 25,858 0
Net change in assets and liabilities:    
Deferred tax assets 27 (194)
Accrued interest receivable (998) (63)
Other assets (4,376) 1,412
Accrued expenses and other liabilities 1,442 (3,084)
Net cash provided by operating activities 230 1,393
Cash flows from investing activities:    
Net change in loans receivable held for investment (19,048) (89,204)
Principal payments and maturities of available-for-sale securities 105,142 117,127
Purchases of available-for-sale securities (150,468) 0
Purchase of FHLB stock (16,081) (13,654)
Proceeds from redemption of FHLB stock 21,301 14,173
Purchases of bank owned life insurance (20,000) 0
Purchase of office properties and equipment (243) (138)
Net cash (used in) provided by investing activities (79,397) 28,304
Cash flows from financing activities:    
Net change in deposits 172,204 62,764
Net change in securities sold under agreements to repurchase 14,163 (6,865)
Repayments of Bank Term Funding Program borrowing 0 (100,000)
City First Bank Fund Manager II distribution (170) 0
Repayment of notes payable 0 (14,000)
Dividends paid on ECIP preferred stock (3,000) (1,567)
Proceeds from other borrowings 0 2,508
Repayments of other borrowings (31,356) (2,589)
Proceeds from FHLB advances 955,750 339,000
Repayments of FHLB advances (1,079,282) (352,778)
Net cash provided by (used in) financing activities 28,309 (73,527)
Net change in cash and cash equivalents (50,858) (43,830)
Cash and cash equivalents at beginning of the period 61,365 105,195
Cash and cash equivalents at end of the period 10,507 61,365
Supplemental disclosures of cash flow information:    
Cash paid for interest 27,851 30,628
Cash paid for income taxes 325 416
Directors [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 168 96
Employees, Excluding Directors [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense $ 308 $ 309