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CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2021
Sep. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Operating revenues:              
Total operating revenues $ 22,931 $ 22,464 $ 24,276 $ 46,740 $ 69,671 $ 94,987 $ 66,437
Operating expenses:              
Technology, communication, and processing 4,893 8,627 8,355 16,982 21,875 28,973 27,404
Salaries and employee benefits 9,137 9,559 8,557 18,116 27,253 38,036 26,076
Professional services 3,496 2,126 1,737 3,863 7,359 10,395 9,304
Provision for operating losses 1,067 1,401 1,329 2,730 3,797 5,419 5,170
Occupancy 282 284 352 636 918 1,197 1,428
Customer related supplies 1,017 186 475 661 1,678 2,214 3,236
Advertising and promotion 176 125 191 316 492 654 941
Merger and acquisition related expenses 0 0 0 0 0 65 739
Other expense 614 466 457 923 1,537 2,368 2,935
Total operating expenses 20,682 22,774 21,453 44,227 64,909 89,321 77,233
Income (loss) from operations 2,249 (310) 2,823 2,513 4,762 5,666 (10,796)
Non-operating income and expense:              
Gain on fair value of private warrant liability 6,042 (3,056) 15,003 11,947 17,989 17,225 0
Interest expense 0 (42) (54) (96) (96) (96) (1,395)
Income (loss) before income tax expense 8,291 (3,408) 17,772 14,364 22,655 22,795 (12,191)
Income tax expense 1,167 1,382 1,713 3,095 4,262 5,752 23
Net income (loss) $ 7,124 $ (4,790) $ 16,059 $ 11,269 $ 18,393 $ 17,043 $ (12,214)
Weighted average number of shares outstanding - basic (in shares) 11,900 11,900 11,698 11,800 11,834 11,851 6,123
Weighted average number of shares outstanding - diluted (in shares) 11,904 11,900 15,325 13,791 12,359 11,939 6,123
Net Income (loss) per share - basic (in dollars per share) $ 600 $ (400) $ 1,370 $ 960 $ 1,550 $ 1.44 $ (1.99)
Net Income (loss) per share - diluted (in dollars per share) $ 0.60 $ (0.40) $ 0.07 $ (0.05) $ 30.00 $ 1.43 $ (1.99)
Interchange and card revenue              
Operating revenues:              
Total operating revenues $ 6,529 $ 6,757 $ 8,244 $ 15,001 $ 21,530 $ 28,078 $ 25,864
Servicing fees from Partner Bank              
Operating revenues:              
Total operating revenues 11,823 10,579 9,372 19,951 31,774 45,105 22,465
Account fees              
Operating revenues:              
Total operating revenues 2,628 2,641 2,686 5,327 7,955 10,668 11,308
University fees              
Operating revenues:              
Total operating revenues 1,474 1,331 1,324 2,655 4,129 5,693 5,320
Other revenue              
Operating revenues:              
Total operating revenues $ 477 $ 1,156 $ 2,650 $ 3,806 $ 4,283 $ 5,443 $ 1,480