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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 11,424 $ 12,115 $ 2,381
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Provision for loan losses 9,923 7,550 1,625
Changes in deferred tax asset, net (380) (1,708) (418)
Share based compensation expense 659 275 231
Gain on sale of SBA loans (586) (266)  
Writedown of other real estate owned   10  
Loss on sale of other real estate owned 344   38
Loss on disposal of fixed assets   7  
Amortization of premium on securities, net 34 60 2
Accretion of fees on derivative instruments (180)    
Accretion of SBA Paycheck Protection Program fees (19,249) (10,223)  
Depreciation, amortization and accretion (270) 78 869
Earnings on bank-owned life insurance (567) (354) (258)
Changes in operating assets and liabilities:      
Originations of loans held for sale   (5,003)  
Proceeds from sale of loans held for sale 2,346 3,840  
Accrued interest receivable and other assets 749 (9,699) (1,324)
Accrued interest payable and other liabilities 337 (336) 441
Net cash provided by (used in) operating activities 4,584 (3,654) 3,587
Cash flows from investing activities:      
Net increase in interest bearing deposits in other banks (2)   (2)
(Increase) decrease in non-marketable equity securities (3,120) (987) 1,375
Investment securities available-for-sale activity:      
Purchases (1,997,000) (1,923,756) (599,988)
Maturities, calls and principal paydowns 1,996,989 1,902,560 600,320
Termination fee proceeds from derivative instruments 945    
Net originations on loans held for investment (493,601) (482,413) (120,708)
Net additions to bank premises and equipment (5,620) (1,354) (2,976)
Proceeds from disposal of fixed assets   59  
Construction additions on foreclosed assets   (230) (395)
Proceeds from sales of foreclosed assets 1,347   675
Purchase of bank owned life insurance   (10,000)  
Net cash acquired from acquisition of Heritage Bancorp, Inc.   16,112  
Net cash used in investing activities (500,062) (500,009) (121,699)
Cash flows from financing activities:      
Net increase in deposits 507,726 566,774 72,559
Net (repayment) proceeds from issuance of FHLB Advances (20,000) 40,000  
Proceeds from issuance of notes payable   11,000 8,000
Repayment of notes payable (32,875) (7,500) (1,500)
Proceeds from stock warrants exercised 19    
Proceeds from stock options exercised 995 385 301
Net redemption of treasury stock (121) (38) (527)
Net cash provided by financing activities 618,943 611,158 79,278
Increase in cash and cash equivalents 123,465 107,495 (38,834)
Cash and cash equivalents at beginning of period 203,560 96,065 134,899
Cash and cash equivalents at end of period 327,025 203,560 96,065
Supplemental Disclosures of Cash Flow Information:      
Cash paid for interest 10,840 14,891 15,791
Cash paid for income taxes, net of $144,431 refund in 2020 6,525 2,656 990
Supplemental Disclosure of Noncash Investing and Financing Activities:      
Loans transferred to other real estate owned, net   1,380 32
Net (increase) decrease in fair value of ESOP-owned shares (317) 18 (13)
Terminated ESOP put option 2,266    
Private Placement Offering      
Cash flows from financing activities:      
Proceeds from issuance of common stock 70,509    
Initial Public Offering      
Cash flows from financing activities:      
Proceeds from issuance of common stock 92,043    
ESOP Contributions      
Cash flows from financing activities:      
Proceeds from issuance of common stock $ 647 537 $ 445
Heritage Bancorp, Inc.      
Supplemental Disclosure of Noncash Investing and Financing Activities:      
Common stock issued for acquisition of Heritage Bancorp, Inc.   $ 50,861