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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities:      
Net income (loss) $ 6,161 $ 5,094 $ (3,819)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Amortization and accretion of investment premiums and discounts, net (51) 267 269
Amortization and accretion of purchase loan premiums and discounts, net 2,722 2,087 816
Amortization of debt issuance costs 38 111 112
Amortization of core deposit intangible 47 47 74
Amortization of servicing assets of sold SBA loans 98 67 22
Impairment of intangible assets 0 0 206
Purchase price adjustment expense related to acquisition activity 0 0 556
Provision (credit) for loan losses 1,885 (500) 2,170
Depreciation and amortization 1,325 1,521 1,505
Gain on sales of available-for-sale securities 0 (76) 0
Gain on sale of premises and equipment 0 (550) 0
Share-based compensation 86 150 159
Decrease (increase) in deferred income taxes, net 1,490 (261) (323)
Originations of SBA loans held for sale (23,972) (16,574) (2,049)
Proceeds from sale of SBA loans held for sale 23,077 16,267 12,160
Gains on sale of SBA loans held for sale, net (1,461) (1,886) (566)
Net (gain) loss on sale and write-down of other real estate owned 0 (2) 69
Changes in assets and liabilities:      
(Increase) decrease in accrued interest and dividends receivable (1,445) 798 (3,017)
Increase in other assets (879) (2,124) (331)
(Decrease) increase in accrued expenses and other liabilities (2,085) 3,160 (1,732)
Net cash provided by operating activities 7,036 7,596 6,281
Cash Flows from Investing Activities:      
Proceeds from maturity or sales on available-for-sale securities 3,600 77,690 0
Principal repayments on available-for-sale securities 6,723 11,667 9,879
Purchases of available-for-sale securities (19,330) (136,135) (11,248)
Redemptions (purchases) of Federal Reserve Bank stock 216 (60) 114
Redemptions (purchases) of Federal Home Loan Bank stock 310 319 (26)
Origination of loans receivable (211,383) (220,349) (36,860)
Purchases of loans receivable (141,412) (89,338) (32,785)
Payments received on loans receivable 239,639 298,059 153,495
Purchases of premises and equipment (414) (430) (70)
Proceeds from sale of premises and equipment 0 1,464 0
Proceeds from sale of other real estate owned 0 1,908 425
Net cash (used in) provided by investing activities (122,051) (55,205) 82,924
Increase (decrease) in deposits, net      
Increase (decrease) in deposits, net 111,884 62,906 (133,877)
Increase in purchased deposits 0 0 49,998
Repayments of FHLB borrowings (5,000) 0 (10,000)
Repayments of senior notes (12,000) 0 0
Proceeds from issuance of senior notes 12,000 0 0
Principal repayments of note payable (206) (203) (199)
(Increase) decrease in advances from borrowers for taxes and insurance (215) (2,685) 105
Net cash provided by (used in) financing activities 106,463 60,018 (93,973)
Net (decrease) increase in cash and cash equivalents (8,552) 12,409 (4,768)
Cash and cash equivalents at beginning of year 47,045 34,636 39,404
Cash and cash equivalents at end of year 38,493 47,045 34,636
Supplemental Disclosures of Cash Flow Information:      
Cash paid for interest 10,472 7,210 15,037
Cash paid (refund) for income taxes, net 102 140 (659)
Non-cash transactions:      
Transfers of SBA loans held for sale to loans receivable 274 281 9,542
Transfers of loans receivable to loans held for sale 0 0 5,022
Capitalized servicing assets 400 335 137
Operating lease right-of-use assets 80 373 40
Accrued rent payable - adoption ASC 842 0 0 22
Interest rate swaps (535) 449 (493)
Deferred cost for capital raise (825) 825 0
Deferred debt issuance costs 360 0 0
Increase in premises and equipment 0 10 290
Reclassification of premises and equipment to implementation cost 0 52 0
Increase in accrued expense and other liabilities 0 (62) (290)
Decrease in escrow deposit related to acquisition activity 0 0 (657)
Decrease in liabilities related to acquisition activity 0 0 15
Decrease in contingent consideration related to acquisition activity $ 0 $ 0 $ 86