Silvergate Capital (SICLQ) 10-K 8 Mar 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Feb. 26, 2021	Jun. 30, 2020
Class of Stock [Line Items]
Amendment Flag	false
Document Fiscal Year Focus	2020
Entity Central Index Key	0001312109
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-39123
Entity Registrant Name	SILVERGATE CAPITAL CORPORATION
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	33-0227337
Entity Address, Address Line One	4250 Executive Square
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	La Jolla
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92037
City Area Code	858
Local Phone Number	362-6300
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Trading Symbol	SI
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 221.8
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE The information required by Items 10, 11, 12, 13 and 14 of Part III of this Annual Report on Form 10-K will be found in the Company’s definitive proxy statement for its 2021 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended, and such information is incorporated herein by this reference.
Class A Common Stock
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		23,477,496
Class B Common Stock
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		16,097

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Cash and due from banks	$ 16,405	$ 1,579
Interest earning deposits in other banks	2,945,682	132,025
Cash and cash equivalents	2,962,087	133,604
Securities available-for-sale, at fair value	939,015	897,766
Loans held-for-sale, at lower of cost or fair value	865,961	375,922
Loans held-for-investment, net of allowance for loan losses of $6,916 and $6,191 at December 31, 2020 and 2019, respectively	746,751	664,622
Federal home loan and federal reserve bank stock, at cost	14,851	10,264
Accrued interest receivable	8,698	5,950
Premises and equipment, net	2,072	3,259
Derivative assets	31,104	23,440
Other assets	15,696	13,300
Total assets	5,586,235	2,128,127
Deposits:
Noninterest bearing demand accounts	5,133,579	1,343,667
Interest bearing accounts	114,447	470,987
Total deposits	5,248,026	1,814,654
Federal home loan bank advances	0	49,000
Subordinated debentures, net and other	15,831	19,530
Accrued expenses and other liabilities	28,079	13,907
Total liabilities	5,291,936	1,897,091
Commitments and contingencies
Preferred stock, $0.01 par value—authorized 10,000 shares; no shares issued or outstanding at December 31, 2020 and 2019	0	0
Additional paid-in capital	129,726	132,138
Retained earnings	118,348	92,310
Accumulated other comprehensive income	46,036	6,401
Total shareholders’ equity	294,299	231,036
Total liabilities and shareholders’ equity	5,586,235	2,128,127
Class A common stock, $0.01 par value—authorized 125,000 shares; 18,770 and 17,775 shares issued and outstanding at December 31, 2020 and 2019, respectively
Deposits:
Common stock	188	178
Class B non-voting common stock, $0.01 par value—authorized 25,000 shares; 64 and 893 shares issued and outstanding at December 31, 2020 and 2019, respectively
Deposits:
Common stock	$ 1	$ 9

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Allowance for loan losses	$ 6,916	$ 6,191
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock authorized (shares)	10,000,000	10,000,000
Preferred stock issued (shares)	0	0
Preferred stock outstanding (shares)	0	0
Class A Common Stock
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock authorized (shares)	125,000,000	125,000,000
Common stock issued (shares)	18,770,000	17,775,000
Common stock outstanding (shares)	18,770,000	17,775,000
Class B Common Stock
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock authorized (shares)	25,000,000	25,000,000
Common stock issued (shares)	64,000	893,000
Common stock outstanding (shares)	64,000	893,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Interest income
Loans, including fees	$ 54,732	$ 51,445
Taxable securities	17,465	20,161
Tax-exempt securities	5,062	0
Other interest earning assets	1,639	8,723
Dividends and other	692	706
Total interest income	79,590	81,035
Interest expense
Deposits	5,807	7,713
Federal home loan bank advances	336	546
Notes payable and other	36	747
Subordinated debentures	1,047	1,072
Total interest expense	7,226	10,078
Net interest income before provision for loan losses	72,364	70,957
Provision for (reversal of) loan losses	742	(439)
Net interest income after provision for loan losses	71,622	71,396
Noninterest income
Mortgage warehouse fee income	2,539	1,473
Service fees related to off-balance sheet deposits	78	1,637
Deposit related fees	11,341	5,302
Gain on sale of securities, net	3,753	724
Gain on sale of loans, net	354	828
Gain on sale of branch, net	0	5,509
Gain on extinguishment of debt	925	0
Other income	187	281
Total noninterest income	19,177	15,754
Noninterest expense
Salaries and employee benefits	36,493	33,897
Occupancy and equipment	5,690	3,638
Communications and data processing	5,406	4,607
Professional services	4,460	4,605
Federal deposit insurance	1,172	415
Correspondent bank charges	1,533	1,191
Other loan expense	326	412
Other general and administrative	4,525	3,713
Total noninterest expense	59,605	52,478
Income before income taxes	31,194	34,672
Income tax expense	5,156	9,826
Net income	$ 26,038	$ 24,846
Earnings Per Share:
Basic earnings per share (USD per share)	$ 1.39	$ 1.38
Diluted earnings per share (USD per share)	$ 1.36	$ 1.35
Weighted average shares outstanding:
Basic (shares)	18,691	17,957
Diluted (shares)	19,177	18,385

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 26,038	$ 24,846
Other comprehensive income (loss):
Change in net unrealized gain on available-for-sale securities	38,310	8,928
Less: Reclassification adjustment for net gain included in net income	(3,753)	(724)
Income tax effect	(9,670)	(2,348)
Unrealized gain on available-for-sale securities, net of tax	24,887	5,856
Change in net unrealized gain on derivative assets	22,186	3,653
Less: Reclassification adjustment for net gain included in net income	(1,713)	0
Income tax effect	(5,725)	(1,047)
Unrealized gain on derivative instruments, net of tax	14,748	2,606
Other comprehensive income	39,635	8,462
Total comprehensive income	$ 65,673	$ 33,308

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Class A Common Stock	Class B Common Stock	Common StockClass A Common Stock	Common StockClass B Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income/(Loss)
Balance at beginning of period (shares) at Dec. 31, 2018				16,628,941	1,189,548
Balance at beginning of period at Dec. 31, 2018	$ 191,246			$ 166	$ 12	$ 125,665	$ 67,464	$ (2,061)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income, net of tax	33,308						24,846	8,462
Net proceeds from stock issuance (shares)				824,605
Net proceeds from stock issuance	6,462			$ 8		6,454
Repurchase of common stock (shares)				0	0
Repurchase of common stock	0			$ 0	$ 0	0
Conversion of Class B common stock to Class A common stock (shares)				296,712	(296,712)
Conversion of Class B common stock to Class A common stock	0			$ 3	$ (3)
Stock-based compensation	177					177
Exercise of stock options, net of shares withheld for employee taxes (shares)				24,902
Exercise of stock options, net of shares withheld for employee taxes	(157)			$ 1		(158)
Balance at end of period (shares) at Dec. 31, 2019		17,775,000	893,000	17,775,160	892,836
Balance at end of period at Dec. 31, 2019	231,036			$ 178	$ 9	132,138	92,310	6,401
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total comprehensive income, net of tax	65,673						26,038	39,635
Conversion of Class B common stock to Class A common stock (shares)				828,639	(828,639)
Conversion of Class B common stock to Class A common stock	0			$ 8	$ (8)
Stock-based compensation	$ 884					884
Exercise of stock options, net of shares withheld for employee taxes (shares)	293,625
Exercise of stock options and issuance of share-based awards, net of shares withheld for employee taxes (shares)				165,972
Exercise of stock options and issuance of share-based awards, net of shares withheld for employee taxes	$ (3,294)			$ 2		(3,296)
Balance at end of period (shares) at Dec. 31, 2020		18,770,000	64,000	18,769,771	64,197
Balance at end of period at Dec. 31, 2020	$ 294,299			$ 188	$ 1	$ 129,726	$ 118,348	$ 46,036

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net income	$ 26,038	$ 24,846
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	5,584	2,673
Amortization of securities premiums and discounts, net	3,890	1,993
Amortization of loan premiums and discounts and deferred loan origination fees and costs, net	825	938
Stock-based compensation	884	177
Provision for (reversal of) loan losses	742	(439)
Originations/purchases of loans held-for-sale	(7,728,152)	(3,424,898)
Proceeds from sales of loans held-for-sale	7,227,762	3,277,954
Gain on sale of branch, net	0	(5,509)
Other gains, net	(8,684)	(520)
Other, net	(70)	474
Changes in operating assets and liabilities:
Accrued interest receivable and other assets	(6,779)	(1,223)
Accrued expenses and other liabilities	(1,354)	(3,328)
Net cash used in operating activities	(479,314)	(126,862)
Cash flows from investing activities
Purchases of securities available-for-sale	(283,706)	(600,657)
Proceeds from sale of securities available-for-sale	216,355	42,005
Proceeds from paydowns and maturities of securities available-for-sale	58,769	24,316
Loan originations/purchases and payments, net	(109,442)	(130,119)
Proceeds from sale of loans held-for-sale previously classified as held-for-investment	36,400	64,416
Purchase of federal home loan and federal reserve bank stock, net	(4,587)	(603)
Purchase of premises and equipment	(916)	(1,213)
Proceeds from sale of branch, net of cash	0	47,390
Proceeds from (purchases of) derivative contracts, net	16,372	(20,165)
Other, net	173	129
Net cash used in investing activities	(70,582)	(574,501)
Cash flows from financing activities
Net change in noninterest bearing deposits	3,789,913	(195,503)
Net change in interest bearing deposits	(356,541)	301,603
Net change in federal home loan bank advances	(48,075)	49,000
Payments made on notes payable	(3,714)	(1,143)
Proceeds from common stock issuance, net	0	6,462
Proceeds from stock option exercise	41	0
Taxes paid related to net share settlement of equity awards	(3,335)	(157)
Other, net	90	285
Net cash provided by financing activities	3,378,379	160,547
Net increase (decrease) in cash and cash equivalents	2,828,483	(540,816)
Cash and cash equivalents, beginning of period	133,604	674,420
Cash and cash equivalents, end of period	2,962,087	133,604
Supplemental cash flow information:
Cash paid for interest	7,526	9,969
Income taxes paid	5,965	8,462
Supplemental noncash disclosures:
Loans held-for-investment transferred to loans held-for-sale	30,792	71,713
Loans held-for-sale transferred to loans held-for-investment	5,098	14,313
Loans transferred to other real estate owned	51	403
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 0	$ 6,599

Nature of Business and Summary

Nature of Business and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Nature of Business and Summary of Significant Accounting Policies	Nature of Business and Summary of Significant Accounting Policies Nature of Business The accompanying consolidated financial statements include the accounts of Silvergate Capital Corporation, a Maryland corporation and its wholly-owned subsidiary, Silvergate Bank (the “Bank”), collectively referred to as (the “Company” or “Silvergate”). The Company’s assets consist primarily of its investment in the Bank and its primary activities are conducted through the Bank. The Bank was incorporated in 1987 and commenced business in 1988 under the California Financial Code as an industrial bank. In February 2009 the Bank converted its charter to a California commercial bank, which gave it the added authority to accept demand deposits. The Company is a registered bank holding company that is subject to supervision by the Board of Governors of the Federal Reserve (“Federal Reserve”). The Bank is subject to regulation by the California Department of Financial Protection and Innovation, Division of Financial Institutions (“DFPI”), and, as a Federal Reserve member bank since 2012, the Federal Reserve Bank of San Francisco (“FRB”). The Bank’s deposits are insured up to legal limits by the Federal Deposit Insurance Corporation (“FDIC”). The Bank provides financial services that include commercial banking, commercial and residential real estate lending, mortgage warehouse lending and commercial business lending. The Bank’s client base is diverse and consists of business and individual clients in California and other states and includes digital currency related customers in the United States and internationally. Following the Bank’s 2009 conversion from an industrial bank to a commercial bank the Company began introducing an expanded array of relationship-oriented business products and services, which in the past five years has been significantly augmented by their digital currency initiative. Commercial real estate lending activities are concentrated in California, and the Company has a nationwide focus in mortgage warehouse lending and even broader international reach with respect to deposit and cash management services for digital currency related businesses. Beginning in July 2020, the Bank ceased issuing purchase commitments for residential real estate loans through its former correspondent lending unit but continue to service existing loans currently on the balance sheet. In the past, the Bank has also purchased reverse mortgage loans to individuals and has been approved by the Federal Housing Administration (“FHA”) to participate in its administered programs. On November 15, 2018, the Company and the Bank entered into a purchase and assumption agreement to sell the Bank’s retail branch located in San Marcos, California and business loan portfolio to HomeStreet Bank. The Company completed the sale in March 2019, which included the reduction of $115.4 million in loans and $74.5 million in deposits and resulted in a pre-tax gain on sale of $5.5 million. Basis of Presentation The consolidated financial statements include the accounts of the Company and all other entities in which it has a controlling financial interest. All significant intercompany accounts and transactions have been eliminated in consolidation. Unless the context requires otherwise, all references to the Company include its wholly owned subsidiaries. The accounting and reporting policies of the Company are based upon Generally Accepted Accounting Principles (“GAAP”) and conform to predominant practices within the financial services industry. Significant accounting policies followed by the Company are presented below. Reclassifications Certain immaterial reclassifications have been made to the consolidated financial statements to conform to the current year’s presentation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the accompanying notes, as well as the reported amounts of revenue and expense during the reporting period. Management bases estimates on historical experience and on various other assumptions that are believed to be reasonable under current circumstances, results of which form the basis for making judgments about the carrying value of certain assets and liabilities that are not readily available from other sources. Management evaluates estimates on an ongoing basis including the economic impact of Coronavirus Disease 2019 (or “COVID-19”). Actual results could materially differ from those estimates under different assumptions or conditions. The following accounting policies, together with those disclosed elsewhere in the consolidated financial statements, represent the significant accounting policies of the Company. Cash and Cash Equivalents Cash and cash equivalents include cash and due from banks and interest earning deposits in other banks. Cash and due from banks consist of federal funds sold and other short-term investments with original maturities of three months or less. The Company maintains amounts due from Banks which exceed federally insured limits. The Company has not experienced any losses in such accounts. Net cash flows are reported for customer loan and deposit transactions. Interest earning deposits in other banks include funds held in other financial institutions that are either fixed or variable rate instruments, including certificates of deposits. Securities Management determines the appropriate classification of securities at the time of purchase. Securities to be held for indefinite periods of time, but not necessarily to be held-to-maturity or on a long-term basis, are classified as available-for-sale and carried at fair value, with unrealized gains or losses, net of applicable deferred income taxes, reported as a separate component of shareholders’ equity in accumulated other comprehensive income. Interest income is recognized under the interest method and includes amortization of purchase premiums and accretion of purchase discounts. Premiums and discounts on securities are amortized or accreted based on a level yield methodology, without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Realized gains or losses on the sale of securities are determined using the specific identification method and are recorded on settlement date. Securities classified as available-for-sale include securities that management intends to use as part of its asset / liability management strategy and may be sold to provide liquidity in response to changes in interest rates, prepayment risk, or other related factors. Securities classified as held-to-maturity are carried at amortized cost when management has the positive intent to hold the securities to maturity. Management evaluates securities for other than temporary impairment (OTTI) on a monthly basis. Management considers, among other things, (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, and (iii) the Company’s intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value. Evidence evaluated includes, but is not limited to, the remaining payment terms of the instrument and economic factors that are relevant to the collectability of the instrument, such as: current prepayment speeds, the current financial condition of the issuer(s), industry analyst reports, credit ratings, credit default rates, interest rate trends, the quality of any credit enhancement and the value of any underlying collateral. For each security in an unrealized loss position, the Company assesses whether it intends to sell the security or if it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis less any current-period credit losses. If the Company intends to sell the security or it is more likely than not the Company will be required to sell the security before recovery of its amortized cost basis less any current-period credit loss, the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date is recognized in earnings. For impaired securities that are not intended for sale and will not be required to be sold prior to recovery of the Company’s amortized cost basis, the Company determines if the impairment has a credit loss component. For both held-to-maturity and available-for-sale securities, if there is no credit loss, no further action is required. For both held-to-maturity and available-for-sale securities, if the amount or timing of cash flows expected to be collected are less than those at the last reporting date, an other-than-temporary impairment shall be considered to have occurred and the credit loss component is recognized in earnings as the present value of the change in expected future cash flows. In determining the present value of the expected cash flows the Company discounts the expected cash flows at the effective interest rate implicit in the security at the date of purchase. The remaining difference between the security’s fair value and the amortized basis is deemed to be due to factors that are not credit related and is recognized in other comprehensive income, net of applicable taxes. Loans Held-for-investment Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of deferred loan fees, unamortized premiums and discounts and an allowance for loan loss. Interest on loans is accrued using the effective interest method based on principal amounts outstanding. Nonrefundable loan fees and certain direct costs associated with the origination of loans are deferred and recognized as an adjustment to interest income over the contractual life of the loans using the level yield method, without anticipating prepayments, or straight-lined for loans with revolving features such as construction loans or lines of credit. The accretion of loan fees and costs is discontinued on nonaccrual loans. In addition to originating loans, the Company may, from time to time, purchases individual loans and groups of loans. For those purchased loans that management intends to hold for the foreseeable future or until maturity, the purchase premiums and discounts are amortized or accreted using the effective interest method over the remaining contractual life of the loan or straight-lined to their estimated termination for loans with revolving features such as reverse mortgages. Nonaccrual Loans Loans are placed on nonaccrual status when, in the opinion of management, the full and timely collection of principal or interest is in doubt. Generally, the accrual of interest is discontinued when principal or interest payments become 90 or more days past due. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of the principal or interest is considered doubtful. When a loan is placed on nonaccrual status, previously accrued but unpaid interest is reversed against current income. Subsequent collections of unpaid amounts on such a loan are applied to reduce principal when received, except when the ultimate collectability of principal is probable, in which case interest payments are credited to income. Nonaccrual loans may be restored to accrual status if and when principal and interest become current and full repayment is expected, which is typically after six months of continuous on time payments. Allowance for Loan Losses The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loans that are deemed to be uncollectible are charged off and deducted from the allowance for loan losses. The provision for loan losses and recoveries on loans previously charged off are credited to the allowance for loan losses. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings (TDRs) and classified as impaired. The general component covers loans that are collectively evaluated for impairment and loans that are not individually identified for impairment evaluation. The general component is based on historical loss experience adjusted for current factors and includes actual loss history experienced for the preceding rolling twelve-year period or less, if twelve years of data is not available. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels and trends in delinquencies and impaired loans (including TDRs); levels and trends in charge-offs and recoveries, trends in volumes and terms of loans; migration of loans to the classification of special mention, substandard, or doubtful; effects of any change in risk selection and underwriting standards; other changes in lending policies and procedures; national and local economic trends and conditions; and effects of changes in credit concentrations. Management estimates the allowance balance required using past loan loss experience, current economic conditions, the nature and volume of the portfolio, information about specific borrower situations, estimated collateral values and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. Amounts are charged off when available information confirms that specific loans, or portions thereof, are uncollectible. This methodology for determining charge-offs is consistently applied to each group of loans. Management groups loans into different categories based on loan type to determine the appropriate allowance for each loan group. A loan is considered impaired when full payment under the loan terms is not expected. Impairment is evaluated on an individual loan basis for all loans that meet the criteria for specifically evaluated impairment. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net of the present value of estimated future cash flows using the loan’s original effective rate or at the fair value of collateral less estimated costs to sell if repayment is expected solely from the collateral. Factors considered in determining impairment include payment status, collateral value and the probability of collecting all amounts when due. Large groups of smaller-balance homogeneous loans such as residential real estate loans are collectively evaluated for impairment and, accordingly, they are not separately identified for impairment disclosures. Loans that experience insignificant payment delays and payment shortfalls are generally not classified as impaired. Management considered the significance of payment delays on a case by case basis, taking into consideration all the circumstances of the loan and borrower, including the length of delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to principal and interest owed. Troubled Debt Restructurings Loans are reported as TDRs when the Company grants concessions to a borrower experiencing financial difficulties that it would not otherwise consider. Examples of such concessions include forgiveness of principal or accrued interest, extending the maturity date, or providing a lower interest rate than would be normally available for a transaction of similar risk. As a result of these concessions, restructured loans are impaired as the Company will not collect all amounts due, both principal and interest, in accordance with the terms of the original loan agreement. TDRs are individually evaluated for impairment and included in separately identified impairment disclosures. TDRs are measured at the present value of estimated cash flows using the loan’s effective rate at inception. If a TDR is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For TDRs that subsequently default, the Company determined the amount of the allowance on the loan in accordance with the accounting policy for the allowance for loan losses on loans individually identified as impaired. The Company incorporates recent historical experience related to TDRs, including the performance of TDRs that subsequently defaulted, into the allowance calculation by loan portfolio segment. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law. Section 4013 of the CARES Act, “Temporary Relief From Troubled Debt Restructurings,” provides banks the option to temporarily suspend certain requirements under GAAP related to TDRs for a limited period of time to account for the effects of COVID-19. Section 4013 of the CARES Act specified that any COVID-19 related modifications made between March 1, 2020 and the earlier of (i) December 31, 2020, or (ii) the 60th day after the end of the COVID-19 national emergency declared by the president and the loan was current as of December 31, 2019, are not TDRs. The Company elected to adopt these provisions of the CARES Act for modifications that meet the requirements described above. On April 7, 2020, various regulatory agencies, including the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation, (“the agencies”) issued a statement, “Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working With Customers Affected by the Coronavirus (Revised)” to encourage banks to work prudently with borrowers and to describe the agencies’ interpretation of how accounting rules under Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC”) 310-40, “Receivables—Troubled Debt Restructurings by Creditors” apply to certain COVID-19-related modifications. In accordance with this guidance, these short-term modifications made to a borrower affected by the COVID-19 do not need to be identified as TDRs if the loans were current at the time a modification plan was implemented. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant. If the loan modification was eligible under the interagency statement criteria, the Company did not consider these modifications as a TDR. Loans qualifying for modifications under the CARES Act or interagency statement will not be required to be reported as delinquent, nonaccrual, impaired or criticized solely as a result of a COVID-19 loan modification for the months of payment deferrals. Borrowers considered current are those that are less than 30 days past due on their modified contractual payments. Loans Held-for-sale Certain loans originated or acquired and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate, as determined by outstanding commitments from investors. Net unrealized losses are recognized through a valuation allowance by charges to income. Gains or losses realized on the sales of loans are recognized at the time of sale and are determined by the difference between the net sales proceeds and the carrying value of the loans sold, adjusted for any servicing asset or liability. Gains and losses on sales of loans are included in noninterest income. Transfers of loans are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control through an agreement to purchase them before their maturity. In the event of a breach of representations and warranties, the Company may be required to repurchase a mortgage loan or indemnify the purchaser, and any subsequent loss on the mortgage loan may be borne by the Company. If there is no breach of a representation and warranty provision, the Company has no obligation to repurchase the loan or indemnify the investor against loss. In cases where the Company repurchases loans, it bears the subsequent credit loss on the loans. Repurchased loans are classified as held-for-sale and are initially recorded at fair value until disposition. The Company seeks to manage the risk of repurchase and associated credit exposure through our underwriting and quality assurance practices and by servicing mortgage loans to meet investor standards. Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”) Stock The Bank is a member of the FHLB of San Francisco and the FRB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. Investments in nonmarketable equity securities, such as FHLB stock and FRB stock, are recorded at cost, classified as a restricted security and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. Other Real Estate Owned Real estate acquired through or in lieu of loan foreclosure is initially recorded at fair value less estimated costs to sell when acquired, establishing a new cost basis. Physical possession of residential real estate property collateralizing a consumer mortgage loan occurs when legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through similar legal agreement. If fair value declines subsequent to acquisition, a valuation allowance is recorded through expense. Operating costs after acquisition are expensed. Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation and amortization. Amortization of leasehold improvements is computed on a straight-line basis over the terms of the leases or the estimated useful lives of the improvements, whichever is shorter. Depreciation of equipment, furniture, and automobiles is charged to operating expense over the estimated useful lives of the assets on a straight-line basis. The estimated useful lives of equipment, furniture, and automobiles range from three three Cloud Computing Arrangements The Company capitalizes software license fees and implementation costs related to hosting arrangements that are service contracts. Implementation costs incurred in a cloud computing arrangement are deferred and amortized on a straight-line basis over the non-cancellable term of the cloud computing arrangements plus any optional renewal periods that are reasonably certain to be exercised by the customer or for which exercise of the renewal option is controlled by the cloud service provider. Implementation costs associated with cloud computing arrangements are recorded in “Other assets” on the Company's consolidated statements of financial condition. The Company's capitalized costs associated with cloud computing arrangements totaled $2.4 million and $2.0 million at December 31, 2020 and 2019, respectively. Total amortization for hosting arrangements for the years ended December 31, 2020 and 2019 was $0.5 million and $65,000, respectively. Loan Commitments Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. Derivative Financial Instruments At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intention and belief as the likely effectiveness as a hedge. These three types are (1) a hedge of fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), or (3) an instrument with no hedging designation (“stand alone derivative”). For a fair value hedge, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item, are recognized in current earnings as fair values change. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same period during which the hedged transaction affects the earnings. The changes in fair value of derivatives that do not qualify for hedge accounting are reported in current earnings, as noninterest income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the item being hedged. The Company formally documents the relationship between the derivative and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting the changes in fair values or cash flows of the hedged items. The initial fair value of hedge components excluded from the assessment of effectiveness is recognized in the statement of financial condition under a systematic and rational method over the life of the hedging instrument and is presented in the same income statement line item as the earnings effect of the hedged item. Any difference between the change in the fair value of the hedge components excluded from the assessment of effectiveness and the amounts recognized in earnings is recorded as a component of other comprehensive income. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in fair values or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. When a fair value hedge is discontinued, the hedged asset or liability is no longer adjusted for changes in fair value and the existing basis adjustment is amortized or accreted over the remaining life of the asset or liability. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings. The Company is exposed to losses if a counterparty fails to make its payments under a contract in which the Company is in the net receiving position. The Company anticipates that the counterparties will be able to fully satisfy their obligation under the agreements. All the contracts to which the Company is a party settle monthly or quarterly. In addition, the Company obtains collateral above certain thresholds of the fair value of its hedges for each counterparty based upon their credit standing and the Company has netting agreements with the dealers with which it does business. The Company has elected to not offset fair value amounts and present derivative assets and liabilities on a gross basis in the statement of financial condition. Low Income Housing Tax Credit Investment The Company has invested in a limited partnership that was formed to develop and operate several apartment complexes designed as high-quality affordable housing for lower income tenants throughout California. The investment is accounted for using the equity method of accounting. The partnership must meet the regulatory minimum requirements for affordable housing for a minimum 15-year compliance period to fully utilize the tax credits. If the partnership ceases to qualify during the compliance period, the credit may be denied for any period in which the project is not in compliance and a portion of the credit previously taken is subject to recapture with interest. At December 31, 2020 and 2019, the balance of the investment for qualified housing projects was $0.9 million and $1.0 million, respectively. Income Taxes Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the future tax amounts attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases, computed using enacted tax rates. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. The Company accounts for uncertainty in tax positions taken or expected to be taken on a tax return in accordance with FASB ASC Topic 740, Accounting for Income Taxes , and provides that the tax effects from an uncertain tax position can be recognized in the financial statements only if, based on its merits, the position is more likely than not to be sustained on audit by the taxing authorities. Management believes that all tax positions taken to date are highly certain and, accordingly, no accounting adjustment has been made to the financial statements. Interest and penalties, if any, related to uncertain tax positions are recorded as part of income tax expense. Stock-based Compensation The Company accounts for stock-based compensation in accordance with FASB ASC Topic 718, Compensation—Stock Compensation , that generally requires entities to recognize the cost of employee services received in exchange for awards of stock options, restricted stock or other equity instruments, based on the grant date fair value of those awards. Compensation cost is recognized for awards issued to employees based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options. This cost is recognized over the period which an employee is required to provide services in exchange for the award, generally the vesting period. Fair Value Measurement The Company measures and presents fair values in accordance with FASB ASC Topic 820, Fair Value Measurement , that defines fair value, establishes a framework for measuring fair value, and requires disclosures about fair value measurements. This standard establishes a fair value hierarchy about the assumptions used to measure fair value and clarifies assumptions about risk and the effect of a restriction on the sale or use of an asset. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This standard’s fair value hierarchy r

Securities

Securities	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Securities	Securities The fair value of available-for-sale securities and their related gross unrealized gains and losses at the dates indicated are as follows: Available-for-sale securities Amortized Cost Gross Gross Fair Value (Dollars in thousands) December 31, 2020 Residential mortgage-backed securities: Government agency mortgage-backed securities $ 5,701 $ 18 $ (55) $ 5,664 Government agency collateralized mortgage obligation 197,978 371 (298) 198,051 Private-label collateralized mortgage obligation 20,544 399 (256) 20,687 Commercial mortgage-backed securities: Private-label collateralized mortgage obligation 164,214 18,322 — 182,536 Municipal bonds: Tax-exempt 246,159 24,200 — 270,359 Taxable 15,307 695 — 16,002 Asset backed securities: Government sponsored student loan pools 248,848 17 (3,149) 245,716 $ 898,751 $ 44,022 $ (3,758) $ 939,015 Available-for-sale securities Amortized Cost Gross Gross Fair Value (Dollars in thousands) December 31, 2019 Residential mortgage-backed securities: Government agency mortgage-backed securities $ 769 $ 32 $ — $ 801 Government agency collateralized mortgage obligation 242,203 552 (837) 241,918 Private-label collateralized mortgage obligation 26,346 352 (198) 26,500 Commercial mortgage-backed securities: Private-label collateralized mortgage obligation 364,719 12,474 (177) 377,016 Asset backed securities: Government sponsored student loan pools 258,022 — (6,491) 251,531 $ 892,059 $ 13,410 $ (7,703) $ 897,766 There were no investment securities pledged for borrowings or for other purposes as required or permitted by law as of December 31, 2020 and 2019. At December 31, 2020, the total fair value of securities issued by three individual issuers, other than the U.S. Government and its agencies, in an amount greater than 10% of shareholders’ equity was $118.1 million. Securities with unrealized losses as of the dates indicated, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: Available-for-sale securities Less than 12 Months 12 Months or More Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (Dollars in thousands) December 31, 2020 Residential mortgage-backed securities: Government agency mortgage-backed securities $ 5,165 $ (55) $ — $ — $ 5,165 $ (55) Government agency collateralized mortgage obligation 120,912 (172) 56,976 (126) 177,888 (298) Private-label collateralized mortgage obligation 290 (7) 9,950 (249) 10,240 (256) Asset backed securities: Government sponsored student loan pools — — 240,825 (3,149) 240,825 (3,149) $ 126,367 $ (234) $ 307,751 $ (3,524) $ 434,118 $ (3,758) Available-for-sale securities Less than 12 Months 12 Months or More Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (Dollars in thousands) December 31, 2019 Residential mortgage-backed securities: Government agency collateralized mortgage obligation $ 143,633 $ (785) $ 15,794 $ (52) $ 159,427 $ (837) Private-label collateralized mortgage obligation 59 (1) 15,168 (197) 15,227 (198) Commercial mortgage-backed securities: Private-label collateralized mortgage obligation 13,142 (177) — — 13,142 (177) Asset backed securities: Government sponsored student loan pools 62,938 (1,317) 188,593 (5,174) 251,531 (6,491) $ 219,772 $ (2,280) $ 219,555 $ (5,423) $ 439,327 $ (7,703) As indicated in the tables above, as of December 31, 2020, the Company’s investment securities had gross unrealized losses totaling approximately $3.8 million, compared to approximately $7.7 million at December 31, 2019. The Company analyzed all of its securities with an unrealized loss position. For each security, the Company analyzed the credit quality and performed a projected cash flow analysis. In analyzing the credit quality, management may consider whether the securities are issued by the federal government, its agencies or its sponsored entities, or non-governmental entities, whether downgrades by bond rating agencies have occurred, and if credit quality has deteriorated. When performing a cash flow analysis the Company uses models that project prepayments, default rates, and loss severities on the collateral supporting the security, based on underlying loan level borrower and loan characteristics and interest rate assumptions. In addition, the Company has contracted with third party companies to perform independent cash flow analyses of its securities portfolio as needed. The unrealized losses on government sponsored student loan pools are due primarily to increased credit spreads as of December 31, 2020. The Company has an adequate amount of credit enhancement and government assurance to cover any expected losses at this time. Based on these analyses and reviews conducted by the Company, and assisted by independent third parties, the Company determined that none of its securities required an other-than-temporary impairment charge at December 31, 2020 or December 31, 2019. Management continues to expect to recover the adjusted amortized cost basis of all bonds. As of December 31, 2020, the Company had 30 securities whose estimated fair value declined 0.86% from the Company’s amortized cost; at December 31, 2019, the Company had 33 securities whose estimated fair value declined 1.72% from the Company’s amortized cost. Market liquidity concerns associated with COVID-19 impacted unrealized losses in 2020. Unrealized losses associated with market liquidity concerns as a result of COVID-19 are not expected to remain constant in the future, however, unrecognized losses will continue to vary with general market interest rate fluctuations. The Company’s securities that have a decline in fair value is due to widened credit spreads and changes in market interest rates since the purchase dates. Current declines in fair values are expected to recover as the securities approach their respective maturity dates Management believes it will more than likely not be required to sell before recovery of the amortized cost basis. For the year ended December 31, 2020 the Company received $216.4 million in proceeds, recognized $4.7 million in gains and $0.9 million in losses on sales of available for sale securities. For the year ended December 31, 2019 the Company received $42.0 million in proceeds, recognized $0.9 million in gains and $0.2 million in losses on sales of securities. The tax expense related to the net realized gains and losses were $1.3 million and $0.2 million for the years ended December 31, 2020 and 2019 respectively. There were no credit losses associated with our securities portfolio recognized in earnings for the years ended December 31, 2020 and 2019. The amortized cost and estimated fair value of investment securities as of the periods presented by contractual maturity are shown below. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. For purposes of the following table, the entire outstanding balance of residential and commercial mortgage-backed securities is categorized based on the final maturity date. December 31, 2020 2019 Amortized Fair Amortized Fair (Dollars in thousands) Available-for-sale securities Within one year $ — $ — $ — $ — After one year through five years — — — — After five years through ten years 14,021 15,694 411 408 After ten years 884,730 923,321 891,648 897,358 Total $ 898,751 $ 939,015 $ 892,059 $ 897,766

Loans

Loans	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Loans	Loans The following disclosure reports the Company’s loan portfolio segments and classes. Segments are groupings of similar loans at a level in which the Company has adopted systematic methods of documentation for determining its allowance for loan and credit losses. Classes are a disaggregation of the portfolio segments. The Company’s loan portfolio segments are: Real estate loans. Real estate includes loans for which the Company holds one-to-four family, multi-family, commercial and construction real property as collateral. Commercial real estate lending activity is typically restricted to owner-occupied properties or to investor properties that are owned by customers with a current banking relationship. The primary risks of real estate mortgage loans include the borrower’s inability to pay, material decreases in the value of the real estate that is being held as collateral and significant increases in interest rates, which may make the real estate mortgage loan unprofitable. Real estate loans also may be adversely affected by conditions in the real estate markets or in the general economy. Commercial and industrial . Commercial and industrial loans consist of loans and lines of credit to businesses that are generally collateralized by accounts receivable, inventory, equipment, loan and lease receivables, digital currency assets such as bitcoin and other commercial assets, and may be supported by other credit enhancements such as personal guarantees. Risk may arise from differences between expected and actual cash flows and/or liquidity levels of the borrowers, as well as the type of collateral securing these loans and the reliability of the conversion thereof to cash. Currently, commercial and industrial loans consist primarily of asset based loans. In January 2020, the Company began offering a new lending product called SEN Leverage, which allows Silvergate customers to obtain U.S. dollar loans collateralized by bitcoin held at select digital currency exchanges and other custodians that are also customers of the Bank. The outstanding balance of SEN Leverage loans was $77.2 million at December 31, 2020. Consumer and other. Consumer loans consist of consumer loans and other loans secured by personal property. Reverse mortgage. From 2012 to 2014, the Company purchased home equity conversion mortgage (“HECM”) loans (also known as reverse mortgage loans) which are a special type of home loan, for homeowners aged 62 years or older, that requires no monthly mortgage payments. Reverse mortgage loan insurance is provided by the U. S. Federal Housing Administration through the HECM program which protects lenders from losses due to non-repayment of the loans. Mortgage warehouse. The Company’s mortgage warehouse lending division provides short-term interim funding for single-family residential mortgage loans originated by mortgage bankers or other lenders pending the sale of such loans in the secondary market. The Company’s risk is mitigated by comprehensive policies, procedures, and controls governing this activity, partial loan funding by the originating lender, guaranties or additional monies pledged to the Company as security, and the short holding period of funded loans on the Company’s balance sheet. In addition, the loss rates of this portfolio have historically been minimal, and these loans are all subject to written purchase commitments from takeout investors or are hedged. The Company’s mortgage warehouse loans may either be held-for-investment or held-for-sale depending on the underlying contract. The Company sold approximately $191.5 million and $151.3 million loans to participants during the years ended December 31, 2020 and 2019, respectively. At December 31, 2020 and 2019, gross warehouse loans were approximately $963.9 million and $405.0 million, respectively. A summary of loans as of the periods presented are as follows: December 31, 2020 2019 (Dollars in thousands) Real estate loans: One-to-four family $ 187,855 $ 193,367 Multi-family 77,126 81,233 Commercial 301,901 331,052 Construction 6,272 7,213 Commercial and industrial 78,909 14,440 Consumer and other 162 122 Reverse mortgage 1,333 1,415 Mortgage warehouse 97,903 39,247 Total gross loans held-for-investment 751,461 668,089 Deferred fees, net 2,206 2,724 Total loans held-for-investment 753,667 670,813 Allowance for loan losses (6,916) (6,191) Total loans held-for-investment, net $ 746,751 $ 664,622 Total loans held-for-sale (1) $ 865,961 $ 375,922 ________________________ (1) Loans held-for-sale included $866.0 million, and $365.8 million of mortgage warehouse loans at December 31, 2020 and 2019, respectively. At December 31, 2020 and 2019, approximately $574.5 million and $614.3 million, respectively, of the Company’s loan portfolio was collateralized by various forms of real estate. A significant percentage of such loans are collateralized by properties located in California (68.8% and 64.8% as of December 31, 2020 and 2019, respectively) and Arizona (5.9% and 10.2% as of December 31, 2020 and 2019, respectively) with no other state greater than 5%. The Company attempts to address and mitigate concentrations of credit risk by making loans that are diversified by collateral type, placing limits on the amounts of various categories of loans relative to total Company capital, and conducting quarterly reviews of its portfolio by collateral type, geography, and other characteristics. While management believes that the collateral presently securing its portfolio and the recorded allowance for loan losses are adequate to absorb potential losses, there can be no assurances that significant deterioration in the California and Arizona real estate markets would not expose the Company to significantly greater credit risk. Recorded investment in loans excludes accrued interest receivable, loan origination fees, net and unamortized premium or discount, net due to immateriality. Accrued interest on loans held-for-investment totaled approximately $2.7 million and $2.2 million and deferred fees totaled approximately $2.2 million and $2.7 million at December 31, 2020 and 2019, respectively. Allowance for Loan Losses At December 31, 2020, the Company had a total allowance for loan losses of $6.9 million, compared to $6.2 million at December 31, 2019. The level of the allowance was based on modest increases in loan portfolio balances from prior year end, Silvergate’s historically strong credit quality and minimal loan charge-offs, and the loan-to-value ratios in the low- to mid-50% range, based on last required appraisal value, in the Company's commercial, multi-family and one-to-four family real estate loans as of December 31, 2020. Although there is significant uncertainty in the current economic environment due to the impact of the COVID-19 pandemic, the Company believes the relatively low to moderate loan-to-value ratios provides a lower probability of loss in the event of defaults in the Company’s loan portfolio. The Company will continue to monitor trends in its portfolio segments for any known or probable adverse conditions with an emphasis on retail and hospitality loans within the commercial real estate loan portfolio. On June 30, 2020, the Company enhanced its qualitative adjustment framework within the calculation of the allowance for loan losses to ensure consistency in the calculation. The change provided a structured framework using Company and peer historical data covering a full credit cycle to determine the range of potential loss for each qualitative adjustment. The overall change was not material to the overall allowance, however within loan segments the allowance was reallocated based on the weighted qualitative adjustment specific for each loan segment. The following tables present the allocation of the allowance for loan losses, as well as the activity in the allowance by loan class, and recorded investment in loans held-for-investment as of and for the periods presented: Year Ended December 31, 2020 One-to Multi- Commercial Construction Commercial Consumer Reverse Mortgage Total (Dollars in thousands) Balance, December 31, 2019 $ 2,051 $ 653 $ 2,791 $ 96 $ 312 $ 1 $ 37 $ 250 $ 6,191 Charge-offs (17) — — — — — — — (17) Recoveries — — — — — — — — — Provision for loan losses (789) 225 (981) 494 1,619 (1) 2 173 742 Balance, December 31, 2020 $ 1,245 $ 878 $ 1,810 $ 590 $ 1,931 $ — $ 39 $ 423 $ 6,916 December 31, 2020 One-to Multi- Commercial Construction Commercial Consumer Reverse Mortgage Total (Dollars in thousands) Amount of allowance attributed to: Specifically evaluated impaired loans $ 11 $ — $ — $ — $ — $ — $ 29 $ — $ 40 General portfolio allocation 1,234 878 1,810 590 1,931 — 10 423 6,876 Total allowance for loan losses $ 1,245 $ 878 $ 1,810 $ 590 $ 1,931 $ — $ 39 $ 423 $ 6,916 Loans evaluated for impairment: Specifically evaluated $ 5,780 $ — $ 9,722 $ — $ 274 $ — $ 869 $ — $ 16,645 Collectively evaluated 182,075 77,126 292,179 6,272 78,635 162 464 97,903 734,816 Total gross loans held-for-investment $ 187,855 $ 77,126 $ 301,901 $ 6,272 $ 78,909 $ 162 $ 1,333 $ 97,903 $ 751,461 Year Ended December 31, 2019 One-to Multi- Commercial Construction Commercial Consumer Reverse Mortgage Total (Dollars in thousands) Balance, December 31, 2018 $ 1,848 $ 483 $ 3,854 $ 98 $ 156 $ 1 $ 54 $ 229 $ 6,723 Charge-offs (93) — — — — — — — (93) Recoveries — — — — — — — — — Provision for loan losses 296 170 (1,063) (2) 156 — (17) 21 (439) Balance, December 31, 2019 $ 2,051 $ 653 $ 2,791 $ 96 $ 312 $ 1 $ 37 $ 250 $ 6,191 December 31, 2019 One-to Multi- Commercial Construction Commercial Consumer Reverse Mortgage Total (Dollars in thousands) Amount of allowance attributed to: Specifically evaluated impaired loans $ 10 $ — $ — $ — $ — $ — $ 29 $ — $ 39 General portfolio allocation 2,041 653 2,791 96 312 1 8 250 6,152 Total allowance for loan losses $ 2,051 $ 653 $ 2,791 $ 96 $ 312 $ 1 $ 37 $ 250 $ 6,191 Loans evaluated for impairment: Specifically evaluated $ 4,222 $ — $ 7,353 $ — $ 2,714 $ — $ 848 $ — $ 15,137 Collectively evaluated 189,145 81,233 323,699 7,213 11,726 122 567 39,247 652,952 Total gross loans held-for-investment $ 193,367 $ 81,233 $ 331,052 $ 7,213 $ 14,440 $ 122 $ 1,415 $ 39,247 $ 668,089 Impaired Loans The following tables provide a summary of the Company’s investment in impaired loans as of and for the periods presented: December 31, 2020 Unpaid Recorded Related Average Interest (Dollars in thousands) With no related allowance recorded: Real estate loans: One-to-four family $ 6,432 $ 5,716 $ — $ 3,748 $ 215 Commercial 9,723 9,722 — 4,620 522 Commercial and industrial 274 274 — 1,680 25 Reverse mortgage 523 523 — 516 — 16,952 16,235 — 10,564 762 With an allowance recorded: Real estate loans: One-to-four family 64 64 11 65 5 Reverse mortgage 346 346 29 342 — 410 410 40 407 5 Total impaired loans $ 17,362 $ 16,645 $ 40 $ 10,971 $ 767 December 31, 2019 Unpaid Recorded Related Average Interest (Dollars in thousands) With no related allowance recorded: Real estate loans: One-to-four family $ 4,792 $ 4,156 $ — $ 4,071 $ 234 Commercial 7,632 7,353 — 7,685 365 Commercial and industrial 2,929 2,714 — 2,595 261 Reverse mortgage 510 511 — 728 — 15,863 14,734 — 15,079 860 With an allowance recorded: Real estate loans: One-to-four family 66 66 10 24 6 Reverse mortgage 337 337 29 355 — 403 403 39 379 6 Total impaired loans $ 16,266 $ 15,137 $ 39 $ 15,458 $ 866 For purposes of this disclosure, the unpaid principal balance is not reduced for partial charge-offs. Cash basis interest income is not materially different than interest income recognized. Nonaccrual and Past Due Loans Nonperforming loans include individually evaluated impaired loans. Nonperforming loans consist of loans on nonaccrual status for which the accrual of interest has been discontinued and loans 90 days or more past due and still accruing interest. The following tables present by loan class the aging analysis based on contractual terms, nonaccrual loans, and the Company’s recorded investment in loans held-for-investment as of the periods presented: December 31, 2020 30-59 60-89 Greater Total Current Total Nonaccruing Loans (Dollars in thousands) Real estate loans: One-to-four family $ 992 $ 85 $ 3,820 $ 4,897 $ 182,958 $ 187,855 $ 4,113 $ — Multi-family 206 — — 206 76,920 77,126 — — Commercial — — — — 301,901 301,901 — — Construction — — — — 6,272 6,272 — — Commercial and industrial — — — — 78,909 78,909 — — Consumer and other — — — — 162 162 — — Reverse mortgage — — — — 1,333 1,333 869 — Mortgage warehouse — — — — 97,903 97,903 — — Total gross loans held-for-investment $ 1,198 $ 85 $ 3,820 $ 5,103 $ 746,358 $ 751,461 $ 4,982 $ — December 31, 2019 30-59 60-89 Greater Total Current Total Nonaccruing Loans (Dollars in thousands) Real estate loans: One-to-four family $ 3,573 $ 96 $ 3,302 $ 6,971 $ 186,396 $ 193,367 $ 3,963 $ — Multi-family — — — — 81,233 81,233 — — Commercial — — — — 331,052 331,052 — — Construction — — — — 7,213 7,213 — — Commercial and industrial — — — — 14,440 14,440 1,098 — Consumer and other — — — — 122 122 — — Reverse mortgage — — — — 1,415 1,415 848 — Mortgage warehouse — — — — 39,247 39,247 — — Total gross loans held-for-investment $ 3,573 $ 96 $ 3,302 $ 6,971 $ 661,118 $ 668,089 $ 5,909 $ — Troubled Debt Restructurings A loan is identified as a TDR when a borrower is experiencing financial difficulties and, for economic or legal reasons related to these difficulties, the Company grants a concession to the borrower in the restructuring that it would not otherwise consider. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. The Company has granted a concession when, as a result of the restructuring, it does not expect to collect all amounts due or within the time periods originally due under the original contract, including one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a temporary forbearance with regard to the payment of principal or interest. All troubled debt restructurings are reviewed for potential impairment. Generally, a nonaccrual loan that is restructured remains on nonaccrual status for a minimum period of six months to demonstrate that the borrower can perform under the restructured terms. If the borrower’s performance under the new terms is not reasonably assured, the loan remains classified as a nonaccrual loan. Loans classified as TDRs are reported as impaired loans. As of December 31, 2020 and 2019, the Company had a recorded investment in TDRs of $1.5 million and $1.8 million, respectively. The Company has allocated $11,000 of specific allowance for those loans at December 31, 2020 and not allocated any amount of specific allowance at December 31, 2019. The Company has not committed to lend additional amounts to the se TDRs. No loans were modified as TDRs during the year ended December 31, 2020. Modifications of loans classified as TDRs during the periods presented, are as follows: Year Ended December 31, 2019 Number of Pre- Post- (Dollars in thousands) Troubled debt restructurings: Real estate loans: One-to-four family 2 $ 1,018 $ 1,114 Commercial and industrial 1 494 494 3 $ 1,512 $ 1,608 The TDR’s described above had no impact the allowance for loan losses and charge-offs during the year ended December 31, 2019. A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. There were no loans modified as TDRs for which there was a payment default within twelve months during the year ended December 31, 2020 or 2019. There was no provision for loan loss or charge offs for TDR’s that subsequently defaulted during the year ended December 31, 2020 or 2019. COVID-19 Related Modifications In April 2020, the Company implemented a short-term loan modification program for customers impacted financially by the COVID-19 pandemic to provide temporary relief to certain borrowers who meet the program’s qualifications. The program was offered to borrowers to modify their existing loans to temporarily defer principal and/or interest payments for a specified period of time, extend loan maturity dates and/or waive certain loan covenants. Deferred payments may be extended for continued hardship, on a case by case basis, for up to twelve months where COVID-19 related issues continue to persist. Due to the fluid nature of COVID-19, this program has been evolving in order to provide maximum relief to bank borrowers. The majority of short-term loan modifications for commercial real estate loan borrowers consist of deferred payments which may include principal, interest and escrow. Deferred interest is capitalized to the loan balance and deferred principal is added to the maturity or payoff date. For one-to-four family residential real estate loans, the majority of short-term modifications consist of deferring full monthly payment of principal, interest and escrow, with deferred payments due at maturity or payoff of the loan. During the year ended December 31, 2020, the Company modified 55 loans representing $143.5 million in loan balances, or 19.1%, of total gross loans held-for-investment as of December 31, 2020. The majority of loans modified under these programs were maintained on accrual status during the deferral period. No specific loan loss reserve allocation was deemed necessary for these modified loans. None of the modified loans met the criteria of a TDR under the CARES Act or the related interagency statement. At December 31, 2020, loans representing $63.9 million in loan balances, or 8.5% of total gross loans held-for-investment, were still under modification, deferring a portion or all of the contractual payments. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, collateral adequacy, credit documentation, and current economic trends, among other factors. This analysis typically includes larger, nonhomogeneous loans such as commercial real estate and commercial and industrial loans. This analysis is performed on an ongoing basis as new information is obtained. The Company uses the following definitions for risk ratings: Pass : Loans in all classes that are not adversely rated, are contractually current as to principal and interest, and are otherwise in compliance with the contractual terms of the loan agreement. Management believes that there is a low likelihood of loss related to those loans that are considered pass. Special mention : Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard : Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful : Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loss : Credits rated as loss are charged-off. Management has no expectation of the recovery of any payments in respect of credits rated as loss. The following tables present by portfolio class the Company’s internal risk grading system as well as certain other information concerning the credit quality of the Company’s recorded investment in loans held-for-investment as of the periods presented. No assets were classified as loss or doubtful during the periods presented. Credit Risk Grades Pass Special Mention Substandard Doubtful Total (Dollars in thousands) December 31, 2020 Real estate loans: One-to-four family $ 180,458 $ 3,284 $ 4,113 $ — $ 187,855 Multi-family 77,126 — — — 77,126 Commercial 288,309 5,825 7,767 — 301,901 Construction 6,272 — — — 6,272 Commercial and industrial 78,635 — 274 — 78,909 Consumer and other 162 — — — 162 Reverse mortgage 464 — 869 — 1,333 Mortgage warehouse 97,903 — — — 97,903 Total gross loans held-for-investment $ 729,329 $ 9,109 $ 13,023 $ — $ 751,461 Credit Risk Grades Pass Special Mention Substandard Doubtful Total (Dollars in thousands) December 31, 2019 Real estate loans: One-to-four family $ 189,405 $ — $ 3,962 $ — $ 193,367 Multi-family 81,233 — — — 81,233 Commercial 322,671 8,381 — — 331,052 Construction 7,213 — — — 7,213 Commercial and industrial 11,726 — 2,714 — 14,440 Consumer and other 122 — — — 122 Reverse mortgage 435 132 848 — 1,415 Mortgage warehouse 39,247 — — — 39,247 Total gross loans held-for-investment $ 652,052 $ 8,513 $ 7,524 $ — $ 668,089 Purchases and Sales The following table presents loans held-for-investment purchased and/or sold during the year by portfolio segment: December 31, 2020 2019 Purchases Sales Purchases Sales (Dollars in thousands) Real estate loans: One-to-four family $ 89,873 $ — $ 103,658 $ — Multi-family — — 19,280 — $ 89,873 $ — $ 122,938 $ — Related Party Loans The Company had related-party loans with an outstanding balance of $5.0 million and $4.6 million as of December 31, 2020 and 2019, respectively. During the year ended December 31, 2020, the Company advanced $0.5 million of related party loans and received $81,000 in principal payments. During the year ended December 31, 2019, the Company reclassified $258,000 in loans as related party and received $0.1 million in principal payments.

Premises and Equipment, Net

Premises and Equipment, Net	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Premises and Equipment, Net	Premises and Equipment, Net Year-end premises and equipment were as follows: December 31, 2020 2019 (Dollars in thousands) Equipment, furniture, and software $ 6,381 $ 5,459 Leasehold improvements 1,372 1,372 Automobiles — 202 7,753 7,033 Accumulated depreciation and amortization (5,681) (3,774) Total premises and equipment, net $ 2,072 $ 3,259 Depreciation expense was $2.1 million and $0.9 million for years ended December 31, 2020 and 2019, respectively. Depreciation expense during the year ended December 31, 2020, included $0.9 million related to disposal of furniture, equipment and leasehold improvements no longer in use. Operating leases The Company leases all of its office facilities under operating lease arrangements. The leases provide that the Company pays real estate taxes, insurance, and certain other operating expenses applicable to the leased premises in addition to the monthly minimum payments. In the second quarter of 2019, the Company consolidated its La Mesa branch with the La Jolla branch and subleased the facilities to a third party. In the fourth quarter of 2020, the Company consolidated its branch and headquarters offices into one floor and recorded an impairment of the right-of-use assets no longer in use. Supplemental balance sheet information related to leases were as follows: December 31, 2020 2019 (Dollars in thousands) Operating leases Balance Sheet Classification Right-of-use assets Other assets $ 1,799 $ 4,571 Lease liabilities Accrued expenses and other liabilities 3,376 4,881 The weighted-average remaining lease term and discount rate were as follows: December 31, 2020 2019 Weighted-average remaining lease term 2.0 years 3.0 years Weighted-average discount rate 4.21 % 4.21 % The components of lease expense for the periods presented were as follows: Year Ended 2020 2019 (Dollars in thousands) Operating lease costs (1) $ 2,943 $ 1,579 Short-term lease costs (2) 102 185 Variable lease costs 77 47 Less: Sublease income (155) (70) Total lease costs $ 2,967 $ 1,741 ________________________ (1) Includes a $1.4 million impairment charge related to leased office space no longer in use. (2) Short-term lease costs are for leases with a term of one year or less including terms of one month or less per accounting policy election. Maturities of lease liabilities were as follows: December 31, 2020 Operating leases (Dollars in thousands) 2021 $ 1,748 2022 1,548 2023 215 2024 26 Total lease payments 3,537 Less: imputed lease interest (161) Total lease liabilities $ 3,376 As of December 31, 2020, the Company had no additional operating lease commitments for office facilities that have not yet commenced. Cash paid for amounts included in the measurement of operating lease liabilities was $1.7 million and $1.5 million for the years ended December 31, 2020 and 2019, respectively.

Deposits

Deposits	12 Months Ended
	Dec. 31, 2020
Deposits [Abstract]
Deposits	Deposits The following table presents the composition of our deposits as of the dates presented: December 31, 2020 2019 (Dollars in thousands) Noninterest bearing demand accounts $ 5,133,579 $ 1,343,667 Interest bearing accounts: Interest bearing demand accounts 42,143 60,794 Money market and savings accounts 71,460 85,705 Certificates of deposit 844 324,488 Interest bearing accounts 114,447 470,987 Total deposits $ 5,248,026 $ 1,814,654 Certificates of deposit at December 31, 2020, are scheduled to mature as follows: Amount Year Ended December 31, (Dollars in thousands) 2021 $ 327 2022 461 2023 39 2024 — 2025 17 Total $ 844 Certificates of deposit that meet or exceed the FDIC insurance limit of $250,000 and over totaled zero and $0.1 million at December 31, 2020 and 2019, respectively. Deposits from officers, directors, and affiliates at December 31, 2020 and 2019, were approximately $1.2 million and $1.0 million, respectively. The Company had no callable brokered certificates of deposit at December 31, 2020 compared to $322.4 million at December 31, 2019. The bank had the option to redeem the callable brokered certificates of deposit on a monthly basis without penalty. Premiums paid to acquire certificates of deposit were amortized in interest expense over the contractual life of the deposit and were recognized when the brokered certificates of deposit were called before the maturity date during the year ended December 31, 2020. The Bank’s 10 largest depositors accounted for $2.5 billion in deposits, or approximately 47.5% of total deposits at December 31, 2020 compared to $523.6 million in deposits, or approximately 28.9% of total deposits at December 31, 2019, substantially all of which are customers operating in the digital currency industry. Deposits from digital currency exchanges represent approximately 47.2% of the Bank’s total deposits and are held by approximately 76 exchanges at December 31, 2020 compared to 29.1% of total deposits, held by 60 exchanges at December 31, 2019.

FHLB Advances and Other Borrowi

FHLB Advances and Other Borrowings	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
FHLB Advances and Other Borrowings	FHLB Advances and Other Borrowings FHLB Advances The following table sets forth certain information on our FHLB advances during the periods presented: Year Ended December 31, 2020 2019 (Dollars in thousands) Amount outstanding at period-end — $ 49,000 Weighted average interest rate at period-end — 1.66 % Maximum month-end balance during the period $ 360,000 $ 218,000 Average balance outstanding during the period $ 68,522 $ 28,205 Weighted average interest rate during the period 0.50 % 1.94 % FHLB advances are secured with eligible collateral consisting of certain real estate loans. Advances from the FHLB are subject to the FHLB’s collateral and underwriting requirements, and as of December 31, 2020 and 2019, were limited in the aggregate to 35% of the Company’s total assets. Loans with carrying values of approximately $1,455.9 million and $875.9 million were pledged to the FHLB as of December 31, 2020 and 2019, respectively. Unused borrowing capacity based on the lesser of the percentage of total assets and pledged collateral was approximately $893.0 million and $554.6 million as of December 31, 2020 and 2019, respectively. During the year ended December 31, 2020, the Company initiated and settled a $64.0 million FHLB five FRB Advances The Company is also approved to borrow through the Discount Window of the Federal Reserve Bank of San Francisco on a collateralized basis without any fixed dollar limit. Loans with a carrying value of approximately $6.3 million and $10.1 million were pledged to the FRB at December 31, 2020 and 2019, respectively. The Company’s borrowing capacity under the Federal Reserve’s discount window program was $4.8 million as of December 31, 2020. At December 31, 2020 and 2019, there were no borrowings outstanding under any of these lines. Federal Funds Purchased The Company may borrow up to an aggregate $68.0 million, overnight on an unsecured basis from three of its correspondent banks. Access to these funds is subject to liquidity availability, market conditions and any negative material change in the Company’s credit profile. As of December 31, 2020 and 2019, the Company had no outstanding balance of federal funds purchased.

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2020
Notes payable
Debt Instrument [Line Items]
Notes Payable	Notes PayableOn January 29, 2016, the Company entered into a term loan with a commercial bank for a single principal advance of $8.0 million due to mature on January 29, 2021. Loan interest and principal was payable quarterly commencing April 2016 and accrued interest at an annual rate equal to 2.60% plus the greater of zero percent and the one-month LIBOR rate. The proceeds were used to redeem preferred stock and could be prepaid at any time. During the three months ended March 31, 2020, the Company paid off the note in full. The outstanding principal balance at December 31, 2019 was $3.7 million.

Subordinated Debentures, Net

Subordinated Debentures, Net	12 Months Ended
	Dec. 31, 2020
Subordinated Debentures
Debt Instrument [Line Items]
Subordinated Debentures, Net	Subordinated Debentures, Net A trust formed by the Company issued $12.5 million of floating rate trust preferred securities in July 2001 as part of a pooled offering of such securities. The Company issued subordinated debentures to the trust in exchange for its proceeds from the offering. The debentures and related accrued interest represent substantially all of the assets of the trust. The subordinated debentures bear interest at six-month LIBOR plus 375 basis points, which adjusts every six months in January and July of each year. Interest is payable semiannually. At December 31, 2020, the interest rate for the Company’s next scheduled payment was 4.06%, based on six-month LIBOR of 0.31%. On any January 25 or July 25 the Company may redeem the 2001 subordinated debentures at 100% of principal amount plus accrued interest. The 2001 subordinated debentures mature on July 25, 2031. A second trust formed by the Company issued $3.0 million of trust preferred securities in January 2005 as part of a pooled offering of such securities. The Company issued subordinated debentures to the trust in exchange for its proceeds from the offering. The debentures and related accrued interest represent substantially all of the assets of the trust. The subordinated debentures bear interest at three-month LIBOR plus 185 basis points, which adjusts every three months. Interest is payable quarterly. At December 31, 2020, the interest rate for the Company’s next scheduled payment was 2.07%, based on three-month LIBOR of 0.22%. On the 15th day of any March, June, September, or December, the Company may redeem the 2005 subordinated debentures at 100% of principal amount plus accrued interest. The 2005 subordinated debentures mature on March 15, 2035. The Company also retained a 3% minority interest in each of these trusts which is included in subordinated debentures. The balance of the equity in the trusts is comprised of mandatorily redeemable preferred securities. The subordinated debentures may be included in Tier I capital (with certain limitations applicable) under current regulatory guidelines and interpretations. The Company has the right to defer interest payments on the subordinated debentures from time to time for a period not to exceed five years. The outstanding balance of the subordinated debentures was $15.8 million, net of $0.1 million unamortized debt issuance cost as of December 31, 2020 and $15.8 million, net of $0.2 million unamortized debt issuance costs as of December 31, 2019.

Derivative and Hedging Activiti

Derivative and Hedging Activities	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative and Hedging Activities	Derivative and Hedging ActivitiesThe Company is exposed to certain risks relating to its ongoing business operations. The Company utilizes interest rate derivatives as part of its asset liability management strategy to help manage its interest rate risk position. The notional amount of the derivative does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual derivative agreements. In accordance with accounting guidance, changes in the fair value of derivatives designated and that qualify as cash flow hedges are initially recorded in other comprehensive income (“OCI”), reclassified into earnings in the same period or periods during which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item. The Company assesses the effectiveness of each hedging relationship by comparing the changes in cash flows of the derivative hedging instrument with the changes in cash flows of the designated hedged transactions. The initial fair value of hedge components excluded from the assessment of effectiveness is recognized in the statement of financial condition under a systematic and rational method over the life of the hedging instrument and is presented in the same income statement line item as the earnings effect of the hedged item. Any difference between the change in the fair value of the hedge components excluded from the assessment of effectiveness and the amounts recognized in earnings is recorded as a component of other comprehensive income. For a fair value hedge, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item, are recognized in current earnings as fair values change. The changes in fair value of the hedged item is recorded as a basis adjustment to the hedged assets or liabilities. The amount included as basis adjustments would be reclassified to current earnings on a straight-line basis over the original life of the hedged item should the hedges no longer be considered effective. Interest rate swaps. In 2020, the Company entered into two pay-fixed/receive floating rate interest rate swaps (the “Swap Agreements”) for a notional amount of $14.3 million that were designated as fair value hedges of certain available-for-sale securities. The Swap Agreements were determined to be fully effective during the periods presented and therefore no amount of ineffectiveness has been included in net income. The Swap Agreements are based on three-month LIBOR and expire in 2030 and 2031. The Company expects the Swap Agreements to remain effective during the remaining term of the Swap Agreements. The Company may receive collateral or may be required to post collateral based upon the market valuation. As of December 31, 2020, the Company held $0.3 million in cash collateral posted by the counterparty. Interest rate floors. In 2019, the Company entered into 20 interest rate floor agreements (the “Floor Agreements”) for a total notional amount of $400.0 million to hedge cash flow receipts on cash and securities or loans, if needed. The original Floor Agreements expire on various dates in April 2024 and July 2029. The Company utilizes one-month LIBOR and three-month LIBOR interest rate floors as hedges against adverse changes in cash flows on the designated cash, securities or loans attributable to fluctuations in the federal funds rate or three-month LIBOR below 2.50% or 2.25%, as applicable. The Floor Agreements were determined to be fully effective during all periods presented and, as such, no amount of ineffectiveness has been included in net income. The upfront fee paid to the counterparty in entering into these Floor Agreements was approximately $20.8 million. During the three months ended March 31, 2020, the Company sold $200.0 million of its total $400.0 million notional amount of interest rate floors for $13.0 million, which resulted in a net gain of $8.4 million, to be recognized over the weighted average remaining term of 4.1 years. The remaining agreements are one-month LIBOR floors with a strike price of 2.25% and expire in July 2029. Interest rate caps. In 2012 the Company entered into a $12.5 million and a $3.0 million notional forward interest rate cap agreement (the “Cap Agreements”) to hedge its variable rate subordinated debentures. The Cap Agreements expire July 25, 2022 and March 15, 2022, respectively. The Company utilizes interest rate caps as hedges against adverse changes in cash flows on the designated preferred trusts attributable to fluctuations in three-month LIBOR beyond 0.50% for the $3.0 million subordinated debenture and six-month LIBOR beyond 0.75% for the $12.5 million subordinated debenture. The Cap Agreements were determined to be fully effective during all periods presented and, as such, no amount of ineffectiveness has been included in net income. The upfront fee paid to the counterparty in entering into these Cap Agreements was approximately $2.5 million. The table below presents the fair value of the Company’s derivative financial instruments as well as the classification within the consolidated statements of financial condition. December 31, 2020 2019 Balance Sheet Fair Value Balance Sheet Fair Value (Dollars in thousands) Derivatives designated as hedging instruments: Cash flow hedge interest rate floor Derivative assets $ 30,766 Derivative assets $ 23,054 Cash flow hedge interest rate cap Derivative assets — Derivative assets 386 Fair value hedge interest rate swap Derivative assets 338 Derivative assets — The following table presents the cumulative basis adjustments on hedged items designated as fair value hedges and the related amortized cost of those items as of the periods presented. Carrying Amount Cumulative Amount of Fair December 31, December 31, December 31, December 31, (Dollars in thousands) Line Item in the Statement of Financial Condition of Hedged Item: Securities available-for-sale $ 15,367 $ — $ (278) $ — The following table summarizes the effects of derivatives in cash flow hedging relationships designated as hedging instruments on the Company’s consolidated statements of operations for the periods presented: Amount of Gain (Loss) Location of Gain (Loss) Amount of Gain (Loss) Year Ended Year Ended 2020 2019 2020 2019 (Dollars in thousands) Derivatives designated as hedging instruments: Cash flow hedge interest rate floor $ 6,167 $ 2,006 Interest income - Other interest earning assets $ 745 $ (355) Cash flow hedge interest rate floor 17,949 882 Interest income - Securities 2,910 (635) Cash flow hedge interest rate cap (297) (392) Interest expense - Subordinated debentures (309) (167) The Company estimates that approximately $4.8 million of net derivative gain included in OCI will be reclassified into earnings within the next 12 months. No gain or loss was reclassified from OCI into earnings as a result of forecasted transactions that failed to occur during the periods presented.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense consists of the following for the periods presented: Year Ended December 31, 2020 2019 (Dollars in thousands) Current provision Federal $ 3,441 $ 6,163 State 2,121 3,304 5,562 9,467 Federal deferred tax (benefit) expense (286) 241 State deferred tax (benefit) expense (120) 118 (406) 359 Income tax expense $ 5,156 $ 9,826 Comparison of the federal statutory income tax rates to the Company’s effective income tax rates for the periods presented are as follows: Year Ended December 31, 2020 2019 Amount Rate Amount Rate (Dollars in thousands) Statutory federal tax $ 6,551 21.0 % $ 7,281 21.0 % State tax, net of federal benefit 1,687 5.4 % 2,697 7.8 % Tax credits (290) (0.9) % (170) (0.5) % Tax-exempt income (1,063) (3.4) % — — Excess tax benefit from stock-based compensation (1,681) (5.4) % (88) (0.3) % Other items, net (48) (0.2) % 106 0.3 % Actual tax expense $ 5,156 16.5 % $ 9,826 28.3 % Income tax expense was $5.2 million for the year ended December 31, 2020 compared to $9.8 million for the year ended December 31, 2019. The decrease was primarily related to increased pre-tax income. The effective tax rates for the years ended December 31, 2020 and 2019 were 16.5% and 28.3%, respectively. The decrease in the effective rate from 2019 to 2020 was primarily related to excess tax benefit from stock-based compensation and tax-exempt income earned on certain municipal bonds. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities included in other assets are as follows: December 31, 2020 2019 (Dollars in thousands) Deferred tax assets Allowance for loan losses $ 1,941 $ 1,772 Accrued vacation pay 448 368 Accrued bonus 301 394 Nonaccrual loan interest 74 149 State taxes 423 633 Operating lease liabilities 948 1,397 Other 205 356 Deferred tax assets 4,340 5,069 Deferred tax liabilities Basis difference in fixed assets (271) (706) Derivatives and securities available-for-sale (17,966) (2,570) Operating lease right-of-use assets (505) (1,308) FHLB stock dividends (223) (101) Deferred loan fees (380) (501) Other (409) (307) Deferred tax liabilities (19,754) (5,493) Deferred tax liability, net $ (15,414) $ (424) The net deferred tax liabilities are recorded in “Accrued expenses and other liabilities” in the Company’s consolidated statements of financial condition. At each reporting date, the Company evaluates the positive and negative evidence used to determine the likelihood of realization of all its deferred tax assets. Based on this evaluation, management has concluded that deferred tax assets are more-likely-than-not to be realized and therefore no valuation allowance is required at December 31, 2020 and 2019. The Company has no unrecognizable tax benefits recorded at December 31, 2020 and 2019 and does not expect the total amount of unrecognized tax benefits to significantly increase or decrease in the next twelve months. Additionally, the Company had no material interest or penalties paid or accrued related to income taxes reported in the income statement for the years ended December 31, 2020 and 2019.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Off-Balance Sheet Items In the normal course of business, the Company enters into various transactions, which, in accordance with GAAP, are not included in the consolidated statements of financial condition. The Company enters into these transactions to meet the financing needs of its customers. These transactions include commitments to extend credit and issue letters of credit, which involve, to varying degrees, elements of credit risk and interest rate risk exceeding the amounts recognized on the consolidated statements of financial condition. The Company’s exposure to credit loss is represented by the contractual amounts of these commitments. The same credit policies and procedures are used in making these commitments as for on-balance sheet instruments. The Company is not aware of any accounting loss to be incurred by funding these commitments, however, an allowance for off-balance sheet credit risk is recorded in other liabilities on the statements of financial condition. The allowance for these commitments amounted to approximately $0.1 million at December 31, 2020 and 2019. The Company’s commitments associated with outstanding letters of credit and commitments to extend credit expiring by period as of the date indicated are summarized below. Since commitments associated with letters of credit and commitments to extend credit may expire unused, the amounts shown do not necessarily reflect the actual future cash funding requirements. December 31, 2020 2019 (Dollars in thousands) Unfunded lines of credit $ 49,487 $ 47,433 Letters of credit 133 655 Total credit extension commitments $ 49,620 $ 48,088 Unfunded lines of credit represent unused credit facilities to the Company’s current borrowers that represent no change in credit risk that exist in the Company’s portfolio. Lines of credit generally have variable interest rates. Letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. In the event of nonperformance by the customer in accordance with the terms of the agreement with the third party, the Company would be required to fund the commitment. The maximum potential amount of future payments the Company could be required to make is represented by the contractual amount of the commitment. If the commitment is funded, the Company would be entitled to seek recovery from the client from the underlying collateral, which can include commercial real estate, physical plant and property, inventory, receivables, bitcoin, cash and/or marketable securities. The Company’s policies generally require that letter of credit arrangements contain security and debt covenants like those contained in loan agreements and our credit risk associated with issuing letters of credit is essentially the same as the risk involved in extending loan facilities to customers. The Company minimizes its exposure to loss under letters of credit and credit commitments by subjecting them to the same credit approval and monitoring procedures used for on-balance sheet instruments. The effect on the Company’s revenue, expenses, cash flows and liquidity of the unused portions of these letters of credit commitments cannot be precisely predicted because there is no guarantee that the lines of credit will be used. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract, for a specific purpose. Commitments generally have variable interest rates, fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts disclosed above do not necessarily represent future cash requirements. The Company evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral obtained if deemed necessary by the Company is based on management’s credit evaluation of the customer. Litigation The Company is involved in various matters of litigation which have arisen in the ordinary course of its business. In the opinion of management, the disposition of such pending litigation will not have a material adverse effect on the Company’s financial statements.

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based CompensationIn June 2018, the Company adopted the 2018 Equity Compensation Plan, or 2018 Plan, that permits the Compensation Committee, in its sole discretion, to grant various forms of incentive awards. Under the 2018 Plan, the Compensation Committee has the power to grant stock options, stock appreciation rights, or SARs, restricted stock and restricted stock units. The number of shares that may be issued pursuant to awards under the 2018 Plan is 1,596,753. In 2010, the Company adopted an equity compensation plan, or 2010 Plan, that provides for the grant of stock options to employees, directors, and other persons referred to in Rule 701 under the U.S. Securities Act of 1933. The number of shares that may be issued pursuant to awards under the 2010 Plan is 730,784. The Compensation Committee of the Company’s Board of Directors is responsible for administrating the 2010 Plan and determining the terms of all awards under it, including their vesting, except that in the case of a change in control of the Company all options granted under the 2010 Plan shall become 100% vested. As of December 31, 2020, there are no shares available for issuance under the 2010 Plan. In accordance with authoritative guidance for stock-based compensation, compensation expense is recognized only for those shares expected to vest, based on the Company’s historical experience and future expectations. The Company has elected a policy of estimating expected forfeitures. Total stock-based compensation expense was $0.9 million and $0.2 million for the years ended December 31, 2020 and 2019, respectively. The total income tax benefit was $2.2 million and $12,000, for the years ended December 31, 2020 and 2019, respectively. Stock Options Stock options issued under the 2018 Plan and 2010 Plan generally have terms of 10 years, with vesting based only on performing service through the vest date, which are generally graded over three The fair value of each option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model that uses the assumptions noted in the table below. Expected volatilities are based on historical volatilities of the Company’s common stock, historical volatilities of a peer group or a combination of both. The Company uses the simplified method to estimate expected term for stock options because the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. The fair value of the option grants for the years ended December 31, 2020 and 2019 and were estimated on the date of the grant using the Black-Scholes option pricing model with the assumptions presented below: Year Ended December 31, 2020 2019 Weighted-average assumptions used: Risk-free interest rate 1.45 % 1.67 % Expected term 6.2 years 6.3 years Expected stock price volatility 30.88 % 30.88 % Dividend yield 0.00 % 0.00 % Weighted-average grant date fair value $ 4.93 $ 5.43 A summary of stock option activity as of December 31, 2020 and changes during the year then ended is presented below: Number of Weighted Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in thousands) Outstanding at January 1, 2020 917,857 $ 7.54 Granted 3,456 14.89 Exercised (293,625) 6.03 Forfeited or expired (32,385) 13.24 Outstanding at December 31, 2020 595,303 $ 8.01 3.7 years $ 39,467 Exercisable at December 31, 2020 450,569 $ 5.61 2.1 years $ 30,954 Vested or Expected to Vest at December 31, 2020 577,835 $ 7.77 3.5 years $ 38,447 The intrinsic value for stock options is calculated based on the exercise price of the underlying awards and the book value of the Company’s common stock as of the reporting date. The intrinsic value of options exercised was approximately $7.8 million and $0.5 million for the years ended December 31, 2020 and 2019, respectively. The tax benefit from option exercises was approximately $2.1 million and $0.1 million, for the years ended December 31, 2020 and 2019, respectively. As of December 31, 2020, there was $0.6 million of total unrecognized compensation cost related to nonvested stock options which is expected to be recognized over a weighted-average period of 2.8 years. Restricted Stock Units Restricted stock unit awards are valued at the market price of a share of the Company’s common stock on the date of grant. In general, these awards vest over one A summary of the status of the Company’s nonvested restricted stock unit awards as of December 31, 2020, and changes during the year then ended, is presented below: Number of Shares Weighted-Average Nonvested at January 1, 2020 82,627 $ 16.09 Granted 17,527 14.48 Vested (33,457) 16.09 Forfeited (8,007) 16.09 Nonvested at December 31, 2020 58,690 $ 15.61 At December 31, 2020, there was approximately $0.7 million of total unrecognized compensation expense related to nonvested restricted stock unit awards, which is expected to be recognized over a weighted-average period of 2.5 years. The total fair value of awards vested during the years ended December 31, 2020 and 2019 was $0.5 million and zero, respectively.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Benefit Plan	Employee Benefit PlanThe Company has a 401(k) plan in which approximately 92% of all employees participate. Employees may contribute a percentage of their compensation subject to certain limits based on Federal tax laws. During the year ended December 31, 2020, the Company made an elective matching contribution up to 50% of deferrals to a maximum of the first 5% of the employee’s compensation contributed to the plan and up to 25% of deferrals to a maximum of the first 6% of the employee’s compensation contributed to the plan for the year ended December 31, 2019. Additionally, the Company had the option to make an elective annual discretionary contribution as determined annually by management. For the years ended December 31, 2020 and 2019, total expense attributed to the plan amounted to approximately $0.5 million and $0.3 million, respectively.

Regulatory Capital

Regulatory Capital	12 Months Ended
	Dec. 31, 2020
Regulated Operations [Abstract]
Regulatory Capital	Regulatory Capital Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. The final rules implementing Basel Committee on Banking Supervision’s capital guidelines for U.S. banks (Basel III rules) became effective for the Company on January 1, 2015 with full compliance with all of the requirements being phased in over a multi-year schedule, and fully phased in by January 1, 2019. Under the Basel III rules, the Company must hold a capital conservation buffer above the adequately capitalized risk-based capital ratios. As of January 1, 2019, the capital conservation buffer had fully phased in to 2.50%. The net unrealized gain or loss on available for sale securities and derivatives are not included in computing regulatory capital. Management believes as of December 31, 2020, the Company and the Bank meet all capital adequacy requirements to which they are subject. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. For the periods presented, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category. Actual capital amounts and ratios for the Company and the Bank as of December 31, 2020 and 2019, are presented in the following tables: Actual Minimum capital To be well Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) December 31, 2020 The Company Tier 1 leverage ratio $ 263,763 8.29 % $ 127,338 4.00 % N/A N/A Common equity tier 1 capital ratio 248,263 21.53 % 51,882 4.50 % N/A N/A Tier 1 risk-based capital ratio 263,763 22.88 % 69,176 6.00 % N/A N/A Total risk-based capital ratio 270,803 23.49 % 92,234 8.00 % N/A N/A The Bank Tier 1 leverage ratio 261,791 8.22 % 127,344 4.00 % $ 159,180 5.00 % Common equity tier 1 capital ratio 261,791 22.71 % 51,869 4.50 % 74,923 6.50 % Tier 1 risk-based capital ratio 261,791 22.71 % 69,159 6.00 % 92,212 8.00 % Total risk-based capital ratio 268,831 23.32 % 92,212 8.00 % 115,265 10.00 % Actual Minimum capital To be well Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) December 31, 2019 The Company Tier 1 leverage ratio $ 240,135 11.23 % $ 85,501 4.00 % N/A N/A Common equity tier 1 capital ratio 224,635 24.52 % 41,233 4.50 % N/A N/A Tier 1 risk-based capital ratio 240,135 26.21 % 54,978 6.00 % N/A N/A Total risk-based capital ratio 246,447 26.90 % 73,304 8.00 % N/A N/A The Bank Tier 1 leverage ratio 224,605 10.52 % 85,399 4.00 % $ 106,749 5.00 % Common equity tier 1 capital ratio 224,605 24.55 % 41,163 4.50 % 59,458 6.50 % Tier 1 risk-based capital ratio 224,605 24.55 % 54,884 6.00 % 73,179 8.00 % Total risk-based capital ratio 230,917 25.24 % 73,179 8.00 % 91,474 10.00 % The Bank is restricted as to the amount of dividends that it can pay to the Company. Dividends declared in excess of the lesser of the Bank’s undivided profits or the Bank’s net income for its last three fiscal years less the amount of any distribution made to the Bank’s shareholders during the same period must be approved by the California DFPI. Also, the Bank may not pay dividends that would result in capital levels being reduced below the minimum requirements shown above.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This standard’s fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1— Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2— Significant observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3— Significant unobservable inputs that reflect a Company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Financial Instruments Required To Be Carried At Fair Value The following is a description of valuation methodologies used for assets and liabilities recorded at fair value: Securities available-for-sale . The fair values of securities available-for-sale are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1) or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2). Derivatives . The Company’s derivative assets and liabilities are carried at fair value as required by GAAP. The estimated fair values of the derivative assets and liabilities are based on current market prices for similar instruments. Given the meaningful level of secondary market activity for derivative contracts, active pricing is available for similar assets and accordingly, the Company classifies its derivative assets and liabilities as Level 2. Impaired loans (collateral-dependent) . The Company does not record impaired loans at fair value on a recurring basis. However, from time to time, fair value adjustments are recorded on these loans to reflect (1) partial write-downs, through charge-offs or specific allowances, that are based on the current appraised or market-quoted value of the underlying collateral or (2) the full charge-off of the loan carrying value. In some cases, the properties for which market quotes or appraised values have been obtained are located in areas where comparable sales data is limited, outdated, or unavailable. Fair value estimates for collateral-dependent impaired loans are obtained from real estate brokers or other third-party consultants. These appraisals may utilize a single valuation approach or a combination of approaches, which generally include various Level 3 inputs. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available and such adjustments are typically significant. Appraisals may be adjusted by management for qualitative factors such as economic factors and estimated liquidation expenses. The range of these possible adjustments may vary. Impaired loans presented in the table below as of the periods presented, include impaired loans with specific allowances as well as impaired loans that have been partially charged-off. Other real estate owned . Fair value estimates for foreclosed real estate are obtained from real estate brokers or other third-party consultants (Level 3). When a current appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value as a result of known changes in the market or the collateral and there is no observable market price, such valuation inputs result in a fair value measurement that is categorized as a Level 3 measurement. To the extent a negotiated sales price or reduced listing price represents a significant discount to an observable market price, such valuation input would result in a fair value measurement that is also considered a Level 3 measurement. The following tables provide the hierarchy and fair value for each class of assets and liabilities measured at fair value for the periods presented. As of December 31, 2020 and 2019, assets and liabilities measured at fair value on a recurring basis are as follows: Fair Value Measurements Using Quoted Prices Significant Other Significant Level 1 Level 2 Level 3 Total (Dollars in thousands) December 31, 2020 Assets Securities available-for-sale $ — $ 939,015 $ — $ 939,015 Derivative assets — 31,104 — 31,104 $ — $ 970,119 $ — $ 970,119 Fair Value Measurements Using Quoted Prices Significant Other Significant Level 1 Level 2 Level 3 Total (Dollars in thousands) December 31, 2019 Assets Securities available-for-sale $ — $ 897,766 $ — $ 897,766 Derivative assets — 23,440 — 23,440 $ — $ 921,206 $ — $ 921,206 As of December 31, 2020 and 2019, assets measured at fair value on a non-recurring basis are summarized as follows: Fair Value Measurements Using Quoted Prices Significant Other Significant Level 1 Level 2 Level 3 Total (Dollars in thousands) December 31, 2020 Assets Impaired loans: Reverse mortgage $ — $ — $ 317 $ 317 Fair Value Measurements Using Quoted Prices Significant Other Significant Level 1 Level 2 Level 3 Total (Dollars in thousands) December 31, 2019 Assets Impaired loans: Real estate: One-to-four family $ — $ — $ 56 $ 56 Reverse mortgage — — 308 308 Other real estate owned — — 128 128 $ — $ — $ 492 $ 492 Quantitative Information about Level 3 Fair Value Measurements The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis as of the date indicated: Fair Value Valuation Technique(s) Significant Range Weighted Average (1) (Dollars in thousands) December 31, 2020 Collateral-dependent impaired loans $ 317 Market comparable properties Marketability discount 10.0 % 10.0 % Selling cost 8.0 % 8.0 % ________________________ (1) Unobservable inputs were weighted by the relative fair value of the instruments. Financial Instruments Not Required To Be Carried At Fair Value FASB ASC Topic 825, Financial Instruments , requires the disclosure of the estimated fair value of financial instruments. The Company’s estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required to develop the estimates of fair value. Accordingly, the estimates are not necessarily indicative of the amounts the Company could have realized in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. The following tables present information about the Company’s assets and liabilities that are not measured at fair value in the consolidated statements of financial condition as of the dates presented: Carrying Fair Value Measurements Using Level 1 Level 2 Level 3 Total (Dollars in thousands) December 31, 2020 Financial assets: Cash and due from banks $ 16,405 $ 16,405 $ — $ — $ 16,405 Interest earning deposits 2,945,682 2,945,682 — — 2,945,682 Loans held-for-sale 865,961 — 865,961 — 865,961 Loans held-for-investment, net 746,751 — — 751,165 751,165 Accrued interest receivable 8,698 8 2,630 6,060 8,698 Financial liabilities: Deposits $ 5,248,026 $ — $ 5,458,900 $ — $ 5,458,900 Subordinated debentures, net 15,831 — 15,231 — 15,231 Accrued interest payable 260 — 260 — 260 Carrying Fair Value Measurements Using Level 1 Level 2 Level 3 Total (Dollars in thousands) December 31, 2019 Financial assets: Cash and due from banks $ 1,579 $ 1,579 $ — $ — $ 1,579 Interest earning deposits 132,025 132,025 — — 132,025 Loans held-for-sale 375,922 — 376,126 — 376,126 Loans held-for-investment, net 664,622 — — 666,272 666,272 Accrued interest receivable 5,950 86 3,643 2,221 5,950 Financial liabilities: Deposits $ 1,814,654 $ — $ 1,826,100 $ — $ 1,826,100 FHLB advances 49,000 — 49,000 — 49,000 Notes payable 3,714 — 3,714 — 3,714 Subordinated debentures, net 15,816 — 15,203 — 15,203 Accrued interest payable 559 — 559 — 559

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The computation of basic and diluted earnings per share is shown below. Year Ended 2020 2019 (Dollars in thousands, except per share data) Basic Net income $ 26,038 $ 24,846 Weighted average common shares outstanding 18,691 17,957 Basic earnings per common share $ 1.39 $ 1.38 Diluted Net income $ 26,038 $ 24,846 Weighted average common shares outstanding for basic earnings per common share 18,691 17,957 Add: Dilutive effects of stock-based awards 486 428 Average shares and dilutive potential common shares 19,177 18,385 Dilutive earnings per common share $ 1.36 $ 1.35 Stock options for 160,000 and 127,000 shares of common stock were not considered in computing diluted earnings per share for the years ended December 31, 2020 and 2019, respectively, because they were anti-dilutive.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity The Company’s Articles of Incorporation, as amended, or Articles authorize the Company to issue up to (i) 125,000,000 shares of Class A Common Stock, par value $0.01 per share (“Class A Common Stock”), (ii) 25,000,000 shares of Class B Non-Voting Common Stock, par value $0.01 per share (“Class B Non-Voting Common Stock”), and (iii) 10,000,000 shares of Preferred Stock, par value $0.01 per share. Preferred Stock The Company, upon authorization of the board of directors, may issue shares of one or more series of preferred stock from time to time. The board of directors may, without any action by holders of Class A and Class B Common Stock or, except as may be otherwise provided in the terms of any series of preferred stock of which there are shares outstanding, holders of preferred stock adopt resolutions to designate and establish a new series of preferred stock. Upon establishing such a series of preferred stock, the board will determine the number of shares of preferred stock of that series that may be issued and the rights and preferences of that series of preferred stock. The board of directors has not designated or established any series of preferred stock. The rights of any series of preferred stock may include, among others, general or special voting rights; preferential liquidation or preemptive rights; preferential cumulative or noncumulative dividend rights; redemption or put rights; and conversion or exchange rights. Common Stock Voting . Each holder of Class A Common Stock is entitled to one vote for each share on all matters submitted to a vote of shareholders, except as otherwise required by law and subject to the rights and preferences of the holders of any outstanding shares of our preferred stock. The members of the Company’s board of directors are elected by a plurality of the votes cast. The Company’s Articles expressly prohibit cumulative voting. Class B Non-Voting Common Stock. Class B Non-Voting Common Stock is non-voting while held by the initial holder with certain limited exceptions. Each share of Class B Non-Voting Common Stock will automatically convert into a share of Class A Common Stock upon certain sales or transfers by the initial holder of such shares including to an unaffiliated third-party and in a widely dispersed public offering. If Class B Non-Voting Common Stock is sold or transferred to an affiliate of the initial holder, the Class B Non-Voting Common Stock would not convert into Class A Common Stock. The Company completed its IPO of 3.3 million shares of its Class A common stock at a public offering price of $12.00 per share on November 7, 2019. The common stock is traded on the New York Stock Exchange under the ticker symbol “SI.” The IPO generated aggregate gross proceeds to the Company of $9.9 million before deducting underwriting discounts and offering expenses, and net proceeds to the Company of $6.5 million after deducting underwriting discounts and offering expenses. Of the offered shares, 824,605 shares were offered by Silvergate and 2,508,728 shares were offered by selling shareholders. On November 15, 2019, the underwriters purchased an additional 499,999 shares of the Company’s Class A common stock from the Company’s selling shareholders in connection with the exercise in full of their option to purchase additional shares. The Company did not receive any proceeds from the sale of shares by the selling shareholders. The Company intends to use the net proceeds to support continued growth, including organic growth and for general corporate purposes, which could include repayment of long-term debt, future acquisitions and other growth initiatives. Accumulated Other Comprehensive Income The Company presents comprehensive income in accordance with FASB ASC Topic 220, Comprehensive Income , that requires the disclosure of comprehensive income or loss and its components. Other comprehensive income (loss) includes unrealized gains and losses on securities available-for-sale and the change in the fair value of cash flow hedges, net of deferred tax effects, which are also recognized as a separate component of equity. The following table shows for the years ended December 31, 2020 and 2019, changes in the balances of each component of accumulated other comprehensive income, net of tax: Unrealized Gains/ Derivative Accumulated (Dollars in thousands) Beginning balance, January 1, 2019 $ (1,785) $ (276) $ (2,061) Current period other comprehensive income before reclassification 6,373 2,606 8,979 Amounts reclassified from accumulated other comprehensive income (517) — (517) Ending balance, December 31, 2019 4,071 2,330 6,401 Current period other comprehensive income before reclassification 27,566 15,932 43,498 Amounts reclassified from accumulated other comprehensive income (2,679) (1,184) (3,863) Ending balance, December 31, 2020 $ 28,958 $ 17,078 $ 46,036

Parent Company Financial Inform

Parent Company Financial Information	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Parent Company Financial Information	Parent Company Financial Information Condensed financial information for the Corporation (parent company only) is as follows: Statements of Financial Condition December 31, 2020 2019 (Dollars in thousands) ASSETS Cash and due from banks $ 1,991 $ 19,086 Investments in subsidiaries 308,740 231,927 Other assets 236 816 Total assets $ 310,967 $ 251,829 LIABILITIES AND SHAREHOLDERS’ EQUITY Notes payable $ — $ 3,714 Subordinated debentures, net 15,831 15,816 Accrued expenses and other liabilities 837 1,263 Total liabilities 16,668 20,793 Commitments and contingencies Preferred stock — — Class A common stock 188 178 Class B non-voting common stock 1 9 Additional paid-in capital 129,726 132,138 Retained earnings 118,348 92,310 Accumulated other comprehensive income 46,036 6,401 Total shareholders’ equity 294,299 231,036 Total liabilities and shareholders’ equity $ 310,967 $ 251,829 Statements of Operations Year Ended 2020 2019 (Dollars in thousands) Total interest income $ 22 $ 29 Interest expense Notes payable and other 36 224 Subordinated debentures 1,047 1,072 Total interest expense 1,083 1,296 Net interest expense (1,061) (1,267) Noninterest expense Salaries and employee benefits 1,071 957 Occupancy and equipment 102 92 Communications and data processing 176 173 Professional services 1,104 687 Correspondent bank charges 1 — Other general and administrative 280 127 Total noninterest expense 2,734 2,036 Loss before income taxes and equity in undistributed earnings of subsidiaries (3,795) (3,303) Income tax benefit (1,032) (895) Equity in undistributed earnings of subsidiaries 28,801 27,254 Net income $ 26,038 $ 24,846 Statements of Cash Flows Year Ended 2020 2019 (Dollars in thousands) Cash flows from operating activities Net income $ 26,038 $ 24,846 Adjustments to reconcile net income to net cash used in operating activities: Equity in undistributed earnings of subsidiaries (28,801) (27,254) Other, net 323 403 Changes in operating assets and liabilities: Other assets 187 1,538 Accrued expenses and other liabilities (424) (944) Net cash used in operating activities (2,677) (1,411) Cash flows from investing activities Investments in subsidiaries (7,500) — Net cash used in investing activities (7,500) — Cash flows from financing activities Payments made on notes payable (3,714) (1,143) Proceeds from issuance of common stock, net — 6,454 Proceeds from stock option exercise 41 — Taxes paid related to net share settlement of equity awards (3,335) (157) Other, net 90 (12) Net cash (used in) provided by financing activities (6,918) 5,142 Net (decrease) increase in cash and cash equivalents (17,095) 3,731 Cash and cash equivalents, beginning of year 19,086 15,355 Cash and cash equivalents, end of year $ 1,991 $ 19,086

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data (Unaudited)	Quarterly Financial Data (Unaudited) The following is a summary of selected financial data presented below by quarter for the periods indicated: Three Months Ended March 31, June 30, September 30, December 31, (Dollars in thousands, except per share data) 2020: Interest income $ 20,062 $ 18,015 $ 19,305 $ 22,208 Interest expense 4,584 1,963 379 300 Net interest income 15,478 16,052 18,926 21,908 Provision for loan losses 367 222 — 153 Net interest income after provision 15,111 15,830 18,926 21,755 Noninterest income 4,931 5,434 3,964 4,848 Noninterest expense 13,875 13,972 14,133 17,625 Net income before income taxes 6,167 7,292 8,757 8,978 Income tax expense (benefit) 1,774 1,826 1,697 (141) Net income $ 4,393 $ 5,466 $ 7,060 $ 9,119 Basic earnings per share $ 0.24 $ 0.29 $ 0.38 $ 0.49 Diluted earnings per share $ 0.23 $ 0.29 $ 0.37 $ 0.47 Three Months Ended March 31, June 30, September 30, December 31, (Dollars in thousands, except per share data) 2019: Interest income $ 20,063 $ 19,472 $ 21,388 $ 20,112 Interest expense 747 1,904 2,945 4,482 Net interest income 19,316 17,568 18,443 15,630 Provision for (reversal of) loan losses 267 152 (858) — Net interest income after provision 19,049 17,416 19,301 15,630 Noninterest income 7,871 2,154 2,599 3,130 Noninterest expense 13,486 12,721 12,611 13,660 Net income before income taxes 13,434 6,849 9,289 5,100 Income tax expense 3,998 1,693 2,633 1,502 Net income $ 9,436 $ 5,156 $ 6,656 $ 3,598 Basic earnings per share $ 0.53 $ 0.29 $ 0.37 $ 0.20 Diluted earnings per share $ 0.52 $ 0.28 $ 0.36 $ 0.19

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On January 26, 2021, the Company completed its underwritten public offering of 4,563,493 shares of Class A common stock at a price of $63.00 per share, including 595,238 additional shares of Class A common stock upon the exercise in full by the underwriters of their option to purchase additional shares. The aggregate gross proceeds of the offering were approximately $287.5 million and net proceeds to the Company of $272.1 million after deducting underwriting discounts and offering expenses. The Company intends to use the net proceeds from the proposed offering to further supplement the regulatory capital levels of the Company and the Bank, and for other general corporate purposes, which may include providing capital to support the Company’s growth organically or through strategic acquisitions, and other growth initiatives, including the Bank’s SEN Leverage lending product, custody and other digital asset services.

Nature of Business and Summar_2

Nature of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Consolidation	Basis of Presentation The consolidated financial statements include the accounts of the Company and all other entities in which it has a controlling financial interest. All significant intercompany accounts and transactions have been eliminated in consolidation. Unless the context requires otherwise, all references to the Company include its wholly owned subsidiaries. The accounting and reporting policies of the Company are based upon Generally Accepted Accounting Principles (“GAAP”) and conform to predominant practices within the financial services industry. Significant accounting policies followed by the Company are presented below.
Basis of Accounting	Basis of Presentation The consolidated financial statements include the accounts of the Company and all other entities in which it has a controlling financial interest. All significant intercompany accounts and transactions have been eliminated in consolidation. Unless the context requires otherwise, all references to the Company include its wholly owned subsidiaries. The accounting and reporting policies of the Company are based upon Generally Accepted Accounting Principles (“GAAP”) and conform to predominant practices within the financial services industry. Significant accounting policies followed by the Company are presented below.
Reclassifications	Reclassifications Certain immaterial reclassifications have been made to the consolidated financial statements to conform to the current year’s presentation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the accompanying notes, as well as the reported amounts of revenue and expense during the reporting period. Management bases estimates on historical experience and on various other assumptions that are believed to be reasonable under current circumstances, results of which form the basis for making judgments about the carrying value of certain assets and liabilities that are not readily available from other sources. Management evaluates estimates on an ongoing basis including the economic impact of Coronavirus Disease 2019 (or “COVID-19”). Actual results could materially differ from those estimates under different assumptions or conditions. The following accounting policies, together with those disclosed elsewhere in the consolidated financial statements, represent the significant accounting policies of the Company.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash and due from banks and interest earning deposits in other banks. Cash and due from banks consist of federal funds sold and other short-term investments with original maturities of three months or less. The Company maintains amounts due from Banks which exceed federally insured limits. The Company has not experienced any losses in such accounts. Net cash flows are reported for customer loan and deposit transactions. Interest earning deposits in other banks include funds held in other financial institutions that are either fixed or variable rate instruments, including certificates of deposits.
Securities	Securities Management determines the appropriate classification of securities at the time of purchase. Securities to be held for indefinite periods of time, but not necessarily to be held-to-maturity or on a long-term basis, are classified as available-for-sale and carried at fair value, with unrealized gains or losses, net of applicable deferred income taxes, reported as a separate component of shareholders’ equity in accumulated other comprehensive income. Interest income is recognized under the interest method and includes amortization of purchase premiums and accretion of purchase discounts. Premiums and discounts on securities are amortized or accreted based on a level yield methodology, without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Realized gains or losses on the sale of securities are determined using the specific identification method and are recorded on settlement date. Securities classified as available-for-sale include securities that management intends to use as part of its asset / liability management strategy and may be sold to provide liquidity in response to changes in interest rates, prepayment risk, or other related factors. Securities classified as held-to-maturity are carried at amortized cost when management has the positive intent to hold the securities to maturity. Management evaluates securities for other than temporary impairment (OTTI) on a monthly basis. Management considers, among other things, (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, and (iii) the Company’s intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value. Evidence evaluated includes, but is not limited to, the remaining payment terms of the instrument and economic factors that are relevant to the collectability of the instrument, such as: current prepayment speeds, the current financial condition of the issuer(s), industry analyst reports, credit ratings, credit default rates, interest rate trends, the quality of any credit enhancement and the value of any underlying collateral. For each security in an unrealized loss position, the Company assesses whether it intends to sell the security or if it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis less any current-period credit losses. If the Company intends to sell the security or it is more likely than not the Company will be required to sell the security before recovery of its amortized cost basis less any current-period credit loss, the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date is recognized in earnings. For impaired securities that are not intended for sale and will not be required to be sold prior to recovery of the Company’s amortized cost basis, the Company determines if the impairment has a credit loss component. For both held-to-maturity and available-for-sale securities, if there is no credit loss, no further action is required. For both held-to-maturity and available-for-sale securities, if the amount or timing of cash flows expected to be collected are less than those at the last reporting date, an other-than-temporary impairment shall be considered to have occurred and the credit loss component is recognized in earnings as the present value of the change in expected future cash flows. In determining the present value of the expected cash flows the Company discounts the expected cash flows at the effective interest rate implicit in the security at the date of purchase. The remaining difference between the security’s fair value and the amortized basis is deemed to be due to factors that are not credit related and is recognized in other comprehensive income, net of applicable taxes.
Loans	Loans Held-for-investment Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of deferred loan fees, unamortized premiums and discounts and an allowance for loan loss. Interest on loans is accrued using the effective interest method based on principal amounts outstanding. Nonrefundable loan fees and certain direct costs associated with the origination of loans are deferred and recognized as an adjustment to interest income over the contractual life of the loans using the level yield method, without anticipating prepayments, or straight-lined for loans with revolving features such as construction loans or lines of credit. The accretion of loan fees and costs is discontinued on nonaccrual loans. In addition to originating loans, the Company may, from time to time, purchases individual loans and groups of loans. For those purchased loans that management intends to hold for the foreseeable future or until maturity, the purchase premiums and discounts are amortized or accreted using the effective interest method over the remaining contractual life of the loan or straight-lined to their estimated termination for loans with revolving features such as reverse mortgages. Nonaccrual Loans Loans are placed on nonaccrual status when, in the opinion of management, the full and timely collection of principal or interest is in doubt. Generally, the accrual of interest is discontinued when principal or interest payments become 90 or more days past due. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of the principal or interest is considered doubtful. When a loan is placed on nonaccrual status, previously accrued but unpaid interest is reversed against current income. Subsequent collections of unpaid amounts on such a loan are applied to reduce principal when received, except when the ultimate collectability of principal is probable, in which case interest payments are credited to income. Nonaccrual loans may be restored to accrual status if and when principal and interest become current and full repayment is expected, which is typically after six months of continuous on time payments. Allowance for Loan Losses The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loans that are deemed to be uncollectible are charged off and deducted from the allowance for loan losses. The provision for loan losses and recoveries on loans previously charged off are credited to the allowance for loan losses. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings (TDRs) and classified as impaired. The general component covers loans that are collectively evaluated for impairment and loans that are not individually identified for impairment evaluation. The general component is based on historical loss experience adjusted for current factors and includes actual loss history experienced for the preceding rolling twelve-year period or less, if twelve years of data is not available. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels and trends in delinquencies and impaired loans (including TDRs); levels and trends in charge-offs and recoveries, trends in volumes and terms of loans; migration of loans to the classification of special mention, substandard, or doubtful; effects of any change in risk selection and underwriting standards; other changes in lending policies and procedures; national and local economic trends and conditions; and effects of changes in credit concentrations. Management estimates the allowance balance required using past loan loss experience, current economic conditions, the nature and volume of the portfolio, information about specific borrower situations, estimated collateral values and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. Amounts are charged off when available information confirms that specific loans, or portions thereof, are uncollectible. This methodology for determining charge-offs is consistently applied to each group of loans. Management groups loans into different categories based on loan type to determine the appropriate allowance for each loan group. A loan is considered impaired when full payment under the loan terms is not expected. Impairment is evaluated on an individual loan basis for all loans that meet the criteria for specifically evaluated impairment. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net of the present value of estimated future cash flows using the loan’s original effective rate or at the fair value of collateral less estimated costs to sell if repayment is expected solely from the collateral. Factors considered in determining impairment include payment status, collateral value and the probability of collecting all amounts when due. Large groups of smaller-balance homogeneous loans such as residential real estate loans are collectively evaluated for impairment and, accordingly, they are not separately identified for impairment disclosures. Loans that experience insignificant payment delays and payment shortfalls are generally not classified as impaired. Management considered the significance of payment delays on a case by case basis, taking into consideration all the circumstances of the loan and borrower, including the length of delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to principal and interest owed. Troubled Debt Restructurings Loans are reported as TDRs when the Company grants concessions to a borrower experiencing financial difficulties that it would not otherwise consider. Examples of such concessions include forgiveness of principal or accrued interest, extending the maturity date, or providing a lower interest rate than would be normally available for a transaction of similar risk. As a result of these concessions, restructured loans are impaired as the Company will not collect all amounts due, both principal and interest, in accordance with the terms of the original loan agreement. TDRs are individually evaluated for impairment and included in separately identified impairment disclosures. TDRs are measured at the present value of estimated cash flows using the loan’s effective rate at inception. If a TDR is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For TDRs that subsequently default, the Company determined the amount of the allowance on the loan in accordance with the accounting policy for the allowance for loan losses on loans individually identified as impaired. The Company incorporates recent historical experience related to TDRs, including the performance of TDRs that subsequently defaulted, into the allowance calculation by loan portfolio segment. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law. Section 4013 of the CARES Act, “Temporary Relief From Troubled Debt Restructurings,” provides banks the option to temporarily suspend certain requirements under GAAP related to TDRs for a limited period of time to account for the effects of COVID-19. Section 4013 of the CARES Act specified that any COVID-19 related modifications made between March 1, 2020 and the earlier of (i) December 31, 2020, or (ii) the 60th day after the end of the COVID-19 national emergency declared by the president and the loan was current as of December 31, 2019, are not TDRs. The Company elected to adopt these provisions of the CARES Act for modifications that meet the requirements described above. On April 7, 2020, various regulatory agencies, including the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation, (“the agencies”) issued a statement, “Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working With Customers Affected by the Coronavirus (Revised)” to encourage banks to work prudently with borrowers and to describe the agencies’ interpretation of how accounting rules under Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC”) 310-40, “Receivables—Troubled Debt Restructurings by Creditors” apply to certain COVID-19-related modifications. In accordance with this guidance, these short-term modifications made to a borrower affected by the COVID-19 do not need to be identified as TDRs if the loans were current at the time a modification plan was implemented. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant. If the loan modification was eligible under the interagency statement criteria, the Company did not consider these modifications as a TDR. Loans qualifying for modifications under the CARES Act or interagency statement will not be required to be reported as delinquent, nonaccrual, impaired or criticized solely as a result of a COVID-19 loan modification for the months of payment deferrals. Borrowers considered current are those that are less than 30 days past due on their modified contractual payments. Loans Held-for-sale Certain loans originated or acquired and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate, as determined by outstanding commitments from investors. Net unrealized losses are recognized through a valuation allowance by charges to income. Gains or losses realized on the sales of loans are recognized at the time of sale and are determined by the difference between the net sales proceeds and the carrying value of the loans sold, adjusted for any servicing asset or liability. Gains and losses on sales of loans are included in noninterest income. Transfers of loans are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control through an agreement to purchase them before their maturity. In the event of a breach of representations and warranties, the Company may be required to repurchase a mortgage loan or indemnify the purchaser, and any subsequent loss on the mortgage loan may be borne by the Company. If there is no breach of a representation and warranty provision, the Company has no obligation to repurchase the loan or indemnify the investor against loss. In cases where the Company repurchases loans, it bears the subsequent credit loss on the loans. Repurchased loans are classified as held-for-sale and are initially recorded at fair value until disposition. The Company seeks to manage the risk of repurchase and associated credit exposure through our underwriting and quality assurance practices and by servicing mortgage loans to meet investor standards.
Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("FRB") Stock	Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”) Stock The Bank is a member of the FHLB of San Francisco and the FRB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. Investments in nonmarketable equity securities, such as FHLB stock and FRB stock, are recorded at cost, classified as a restricted security and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income.
Other Real Estate Owned	Other Real Estate Owned Real estate acquired through or in lieu of loan foreclosure is initially recorded at fair value less estimated costs to sell when acquired, establishing a new cost basis. Physical possession of residential real estate property collateralizing a consumer mortgage loan occurs when legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through similar legal agreement. If fair value declines subsequent to acquisition, a valuation allowance is recorded through expense. Operating costs after acquisition are expensed.
Premises and Equipment	Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation and amortization. Amortization of leasehold improvements is computed on a straight-line basis over the terms of the leases or the estimated useful lives of the improvements, whichever is shorter. Depreciation of equipment, furniture, and automobiles is charged to operating expense over the estimated useful lives of the assets on a straight-line basis. The estimated useful lives of equipment, furniture, and automobiles range from three three
Cloud Computing Arrangements	Cloud Computing ArrangementsThe Company capitalizes software license fees and implementation costs related to hosting arrangements that are service contracts. Implementation costs incurred in a cloud computing arrangement are deferred and amortized on a straight-line basis over the non-cancellable term of the cloud computing arrangements plus any optional renewal periods that are reasonably certain to be exercised by the customer or for which exercise of the renewal option is controlled by the cloud service provider. Implementation costs associated with cloud computing arrangements are recorded in “Other assets” on the Company's consolidated statements of financial condition.
Loan Commitments	Loan Commitments Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded.
Derivative Financial Instruments	Derivative Financial Instruments At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intention and belief as the likely effectiveness as a hedge. These three types are (1) a hedge of fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), or (3) an instrument with no hedging designation (“stand alone derivative”). For a fair value hedge, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item, are recognized in current earnings as fair values change. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same period during which the hedged transaction affects the earnings. The changes in fair value of derivatives that do not qualify for hedge accounting are reported in current earnings, as noninterest income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the item being hedged. The Company formally documents the relationship between the derivative and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting the changes in fair values or cash flows of the hedged items. The initial fair value of hedge components excluded from the assessment of effectiveness is recognized in the statement of financial condition under a systematic and rational method over the life of the hedging instrument and is presented in the same income statement line item as the earnings effect of the hedged item. Any difference between the change in the fair value of the hedge components excluded from the assessment of effectiveness and the amounts recognized in earnings is recorded as a component of other comprehensive income. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in fair values or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. When a fair value hedge is discontinued, the hedged asset or liability is no longer adjusted for changes in fair value and the existing basis adjustment is amortized or accreted over the remaining life of the asset or liability. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings. The Company is exposed to losses if a counterparty fails to make its payments under a contract in which the Company is in the net receiving position. The Company anticipates that the counterparties will be able to fully satisfy their obligation under the agreements. All the contracts to which the Company is a party settle monthly or quarterly. In addition, the Company obtains collateral above certain thresholds of the fair value of its hedges for each counterparty based upon their credit standing and the Company has netting agreements with the dealers with which it does business. The Company has elected to not offset fair value amounts and present derivative assets and liabilities on a gross basis in the statement of financial condition.
Low Income Housing Tax Credit Investment	Low Income Housing Tax Credit InvestmentThe Company has invested in a limited partnership that was formed to develop and operate several apartment complexes designed as high-quality affordable housing for lower income tenants throughout California. The investment is accounted for using the equity method of accounting. The partnership must meet the regulatory minimum requirements for affordable housing for a minimum 15-year compliance period to fully utilize the tax credits. If the partnership ceases to qualify during the compliance period, the credit may be denied for any period in which the project is not in compliance and a portion of the credit previously taken is subject to recapture with interest.
Income Taxes	Income Taxes Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the future tax amounts attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases, computed using enacted tax rates. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. The Company accounts for uncertainty in tax positions taken or expected to be taken on a tax return in accordance with FASB ASC Topic 740, Accounting for Income Taxes , and provides that the tax effects from an uncertain tax position can be recognized in the financial statements only if, based on its merits, the position is more likely than not to be sustained on audit by the taxing authorities. Management believes that all tax positions taken to date are highly certain and, accordingly, no accounting adjustment has been made to the financial statements. Interest and penalties, if any, related to uncertain tax positions are recorded as part of income tax expense.
Stock-based Compensation	Stock-based Compensation The Company accounts for stock-based compensation in accordance with FASB ASC Topic 718, Compensation—Stock Compensation , that generally requires entities to recognize the cost of employee services received in exchange for awards of stock options, restricted stock or other equity instruments, based on the grant date fair value of those awards. Compensation cost is recognized for awards issued to employees based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options. This cost is recognized over the period which an employee is required to provide services in exchange for the award, generally the vesting period.
Fair Value Measurement	Fair Value Measurement The Company measures and presents fair values in accordance with FASB ASC Topic 820, Fair Value Measurement , that defines fair value, establishes a framework for measuring fair value, and requires disclosures about fair value measurements. This standard establishes a fair value hierarchy about the assumptions used to measure fair value and clarifies assumptions about risk and the effect of a restriction on the sale or use of an asset. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This standard’s fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1 —Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 — Significant observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 —Significant unobservable inputs that reflect a Company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.
Revenue Recognition	Revenue Recognition On January 1, 2018, the Company adopted FASB ASC 606, Revenue from Contracts with Customers (“ASC 606”), which establishes a single framework for recognizing revenue from contracts with customers that fall within its scope. The core principle of the guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. The majority of the Company's revenues are not subject to ASC 606, including revenue generated from financial instruments, such as loans, letters of credit, and derivatives and investment securities, as these activities are subject to other applicable GAAP. Revenue streams within the scope of and accounted under ASC 606 include service charges and fees on deposit accounts, fees from other services the Company provides its customers, and gains and losses from the sale of other real estate owned and property, premises and equipment. These revenue streams are presented in the Company's consolidated statements of operations as components of noninterest income. Service charges on deposit accounts and other service fee income consist of periodic service charges on deposit accounts and transaction based fees such as those related to wire transfer fees, ACH fees, stop payment fees, insufficient funds fees and mortgage warehouse fees. Performance obligations for periodic service charges are typically short-term in nature, can be canceled anytime by the customer or the Company and are generally satisfied over a monthly period, while performance obligations for other transaction based fees are typically satisfied at a point in time (which may consist of only a few moments to perform the service or transaction) with no further obligation beyond the completion of the service or transaction. Periodic service charges are generally collected directly from a customer’s deposit account on a monthly basis, at the end of a statement cycle, while transaction-based service charges are typically collected and earned at the time of or soon after the service is performed. Other revenue streams that may be applicable to the Company include gains and losses from the sale of non-financial assets such as other real estate owned and property, premises and equipment. The Company accounts for these revenue streams in accordance with ASC 610-20, which requires the Company to refer to guidance in ASC 606 in the application of certain measurement and recognition concepts. The Company records gains and losses on the sale of non-financial assets when control of the asset has been surrendered to the buyer, which generally occurs at a specific point in time.
Operating Segments	Operating Segments While the chief decision-makers monitor the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Operating results are not reviewed by senior management to make resource allocation or performance decisions. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment.
Earnings Per Share	Earnings Per Share Basic earnings per share is computed on the basis of the weighted average number of common shares outstanding during the year. Diluted earnings per share is computed on the basis of the weighted average number of common shares outstanding and any dilutive common equivalent shares resulting from stock options or awards.
Comprehensive Income	Comprehensive Income The Company presents comprehensive income in accordance with FASB ASC Topic 220, Comprehensive Income , that requires the disclosure of comprehensive income (loss) and its components. Other comprehensive income (loss) includes unrealized gains and losses on securities available-for-sale and the change in the fair value of cash flow hedges, net of deferred tax effects, which are also recognized as a separate component of equity.
Recently Issued Accounting Pronouncement Not Yet Effective	Recently Issued Accounting Pronouncements Not Yet Effective In June 2016, the FASB issued Accounting Standards Update (or “ASU”) 2016-13, Financial Instruments—Credit Losses (Topic 326) to replace the incurred loss model with an expected loss model, which is referred to as the current expected credit loss (or “CECL”) model. The CECL model is applicable to the measurement of credit losses on financial assets measured at amortized cost, including loan receivables, held to maturity debt securities, and reinsurance receivables. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor. These amendments were initially effective for fiscal years beginning after December 15, 2019 for SEC registrants and after December 15, 2020, for Public Business Entities, or PBEs. In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates, which finalized the delay of the effective date for smaller reporting companies, such as the Company to apply the standards related to CECL, until fiscal years beginning after December 15, 2022. For debt securities with other than temporary impairment (OTTI), the guidance will be applied prospectively and for existing purchased credit impaired (PCI) assets will be grandfathered and classified as purchased credit deteriorated (PCD) assets at the date of adoption. The asset will be grossed up for the allowance for expected credit losses for all PCD assets at the date of adoption and will continue to recognize the noncredit discount in interest income based on the yield such assets as of the adoption date. Subsequent changes in expected credit losses will be recorded through the allowance. For all other assets with the scope of CECL, the cumulative effect adjustment will be recognized in retained earnings as of the beginning of the first reporting period in which the guidance is effective. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, which clarify that receivables arising from operating leases are not within the scope of Subtopic 326-20. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases. The Company formed a CECL implementation committee in 2018 which prepared a project plan to migrate towards the adoption date. As part of the project plan, the Company contracted a third-party vendor to assist in the application and analysis of ASU 2016-13 as well as a third party vendor to perform an independent model validation. As part of this process, the Company has determined preliminary loan pool segmentation under CECL, as well as evaluated the key economic loss drivers for each segment. The Company operationalized an initial CECL model during the second quarter of 2019 and is running this preliminary CECL model alongside the existing incurred loss methodology. The Company intends to continue to refine and run the model until the expected adoption date on January 1, 2023. The Company continues to evaluate the effects of ASU 2016-13 on its financial statements and disclosures. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (or “ASU 2020-04”), which provides temporary, optional guidance to ease the potential burden in accounting for, or recognizing the effects of, the transition away from the London Interbank Offered Rate (or “LIBOR”) or other interbank offered rate (reference rates) on financial reporting. In the fourth quarter of 2020 the Office of the Comptroller of the Currency, amongst others, announced that the overnight and one, three, six and twelve month USD LIBOR will be discontinued on June 30, 2023. It was originally expected that LIBOR would be discontinued by the end of 2021. To help with the transition to new reference rates, the ASU provides optional expedients and exceptions for applying GAAP to affected contract modifications and hedge accounting relationships. The guidance is applicable only to contracts or hedge accounting relationships that reference LIBOR or another reference rate expected to be discontinued. The expedients and exceptions in this update are available to all entities starting March 12, 2020 through December 31, 2022. In January 2020, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848), which clarifies the scope of Topic 848 to include derivative instruments impacted by discounting transition. The Company has created a subcommittee of the Asset Liability Management Committee to address the LIBOR transition and phase-out issues. The Company has identified its LIBOR-based contracts that will be impacted by the transition away from of LIBOR, and is incorporating fallback language in negotiated contracts and incorporating non-LIBOR reference rate and/or fallback language in new contracts to prepare for these changes. The Company is evaluating the impact that ASU 2020-04 will have on those financial assets where LIBOR is used as an index rate. Except for the updated standards discussed above, there have been no new accounting pronouncements not yet effective that have significance, or potential significance, to the Company’s consolidated financial statements.

Securities (Tables)

Securities (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-Sale Securities and Gross Unrealized Gains and Losses	The fair value of available-for-sale securities and their related gross unrealized gains and losses at the dates indicated are as follows: Available-for-sale securities Amortized Cost Gross Gross Fair Value (Dollars in thousands) December 31, 2020 Residential mortgage-backed securities: Government agency mortgage-backed securities $ 5,701 $ 18 $ (55) $ 5,664 Government agency collateralized mortgage obligation 197,978 371 (298) 198,051 Private-label collateralized mortgage obligation 20,544 399 (256) 20,687 Commercial mortgage-backed securities: Private-label collateralized mortgage obligation 164,214 18,322 — 182,536 Municipal bonds: Tax-exempt 246,159 24,200 — 270,359 Taxable 15,307 695 — 16,002 Asset backed securities: Government sponsored student loan pools 248,848 17 (3,149) 245,716 $ 898,751 $ 44,022 $ (3,758) $ 939,015 Available-for-sale securities Amortized Cost Gross Gross Fair Value (Dollars in thousands) December 31, 2019 Residential mortgage-backed securities: Government agency mortgage-backed securities $ 769 $ 32 $ — $ 801 Government agency collateralized mortgage obligation 242,203 552 (837) 241,918 Private-label collateralized mortgage obligation 26,346 352 (198) 26,500 Commercial mortgage-backed securities: Private-label collateralized mortgage obligation 364,719 12,474 (177) 377,016 Asset backed securities: Government sponsored student loan pools 258,022 — (6,491) 251,531 $ 892,059 $ 13,410 $ (7,703) $ 897,766
Schedule of Securities with Unrealized Losses	Securities with unrealized losses as of the dates indicated, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: Available-for-sale securities Less than 12 Months 12 Months or More Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (Dollars in thousands) December 31, 2020 Residential mortgage-backed securities: Government agency mortgage-backed securities $ 5,165 $ (55) $ — $ — $ 5,165 $ (55) Government agency collateralized mortgage obligation 120,912 (172) 56,976 (126) 177,888 (298) Private-label collateralized mortgage obligation 290 (7) 9,950 (249) 10,240 (256) Asset backed securities: Government sponsored student loan pools — — 240,825 (3,149) 240,825 (3,149) $ 126,367 $ (234) $ 307,751 $ (3,524) $ 434,118 $ (3,758) Available-for-sale securities Less than 12 Months 12 Months or More Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (Dollars in thousands) December 31, 2019 Residential mortgage-backed securities: Government agency collateralized mortgage obligation $ 143,633 $ (785) $ 15,794 $ (52) $ 159,427 $ (837) Private-label collateralized mortgage obligation 59 (1) 15,168 (197) 15,227 (198) Commercial mortgage-backed securities: Private-label collateralized mortgage obligation 13,142 (177) — — 13,142 (177) Asset backed securities: Government sponsored student loan pools 62,938 (1,317) 188,593 (5,174) 251,531 (6,491) $ 219,772 $ (2,280) $ 219,555 $ (5,423) $ 439,327 $ (7,703)
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Contractual Maturity	The amortized cost and estimated fair value of investment securities as of the periods presented by contractual maturity are shown below. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. For purposes of the following table, the entire outstanding balance of residential and commercial mortgage-backed securities is categorized based on the final maturity date. December 31, 2020 2019 Amortized Fair Amortized Fair (Dollars in thousands) Available-for-sale securities Within one year $ — $ — $ — $ — After one year through five years — — — — After five years through ten years 14,021 15,694 411 408 After ten years 884,730 923,321 891,648 897,358 Total $ 898,751 $ 939,015 $ 892,059 $ 897,766

Loans (Tables)

Loans (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Schedule of Loans	A summary of loans as of the periods presented are as follows: December 31, 2020 2019 (Dollars in thousands) Real estate loans: One-to-four family $ 187,855 $ 193,367 Multi-family 77,126 81,233 Commercial 301,901 331,052 Construction 6,272 7,213 Commercial and industrial 78,909 14,440 Consumer and other 162 122 Reverse mortgage 1,333 1,415 Mortgage warehouse 97,903 39,247 Total gross loans held-for-investment 751,461 668,089 Deferred fees, net 2,206 2,724 Total loans held-for-investment 753,667 670,813 Allowance for loan losses (6,916) (6,191) Total loans held-for-investment, net $ 746,751 $ 664,622 Total loans held-for-sale (1) $ 865,961 $ 375,922 ________________________ (1) Loans held-for-sale included $866.0 million, and $365.8 million of mortgage warehouse loans at December 31, 2020 and 2019, respectively.
Schedule of Allowance for Loan Losses	The following tables present the allocation of the allowance for loan losses, as well as the activity in the allowance by loan class, and recorded investment in loans held-for-investment as of and for the periods presented: Year Ended December 31, 2020 One-to Multi- Commercial Construction Commercial Consumer Reverse Mortgage Total (Dollars in thousands) Balance, December 31, 2019 $ 2,051 $ 653 $ 2,791 $ 96 $ 312 $ 1 $ 37 $ 250 $ 6,191 Charge-offs (17) — — — — — — — (17) Recoveries — — — — — — — — — Provision for loan losses (789) 225 (981) 494 1,619 (1) 2 173 742 Balance, December 31, 2020 $ 1,245 $ 878 $ 1,810 $ 590 $ 1,931 $ — $ 39 $ 423 $ 6,916 December 31, 2020 One-to Multi- Commercial Construction Commercial Consumer Reverse Mortgage Total (Dollars in thousands) Amount of allowance attributed to: Specifically evaluated impaired loans $ 11 $ — $ — $ — $ — $ — $ 29 $ — $ 40 General portfolio allocation 1,234 878 1,810 590 1,931 — 10 423 6,876 Total allowance for loan losses $ 1,245 $ 878 $ 1,810 $ 590 $ 1,931 $ — $ 39 $ 423 $ 6,916 Loans evaluated for impairment: Specifically evaluated $ 5,780 $ — $ 9,722 $ — $ 274 $ — $ 869 $ — $ 16,645 Collectively evaluated 182,075 77,126 292,179 6,272 78,635 162 464 97,903 734,816 Total gross loans held-for-investment $ 187,855 $ 77,126 $ 301,901 $ 6,272 $ 78,909 $ 162 $ 1,333 $ 97,903 $ 751,461 Year Ended December 31, 2019 One-to Multi- Commercial Construction Commercial Consumer Reverse Mortgage Total (Dollars in thousands) Balance, December 31, 2018 $ 1,848 $ 483 $ 3,854 $ 98 $ 156 $ 1 $ 54 $ 229 $ 6,723 Charge-offs (93) — — — — — — — (93) Recoveries — — — — — — — — — Provision for loan losses 296 170 (1,063) (2) 156 — (17) 21 (439) Balance, December 31, 2019 $ 2,051 $ 653 $ 2,791 $ 96 $ 312 $ 1 $ 37 $ 250 $ 6,191 December 31, 2019 One-to Multi- Commercial Construction Commercial Consumer Reverse Mortgage Total (Dollars in thousands) Amount of allowance attributed to: Specifically evaluated impaired loans $ 10 $ — $ — $ — $ — $ — $ 29 $ — $ 39 General portfolio allocation 2,041 653 2,791 96 312 1 8 250 6,152 Total allowance for loan losses $ 2,051 $ 653 $ 2,791 $ 96 $ 312 $ 1 $ 37 $ 250 $ 6,191 Loans evaluated for impairment: Specifically evaluated $ 4,222 $ — $ 7,353 $ — $ 2,714 $ — $ 848 $ — $ 15,137 Collectively evaluated 189,145 81,233 323,699 7,213 11,726 122 567 39,247 652,952 Total gross loans held-for-investment $ 193,367 $ 81,233 $ 331,052 $ 7,213 $ 14,440 $ 122 $ 1,415 $ 39,247 $ 668,089
Schedule of Investments in Impaired Loans	The following tables provide a summary of the Company’s investment in impaired loans as of and for the periods presented: December 31, 2020 Unpaid Recorded Related Average Interest (Dollars in thousands) With no related allowance recorded: Real estate loans: One-to-four family $ 6,432 $ 5,716 $ — $ 3,748 $ 215 Commercial 9,723 9,722 — 4,620 522 Commercial and industrial 274 274 — 1,680 25 Reverse mortgage 523 523 — 516 — 16,952 16,235 — 10,564 762 With an allowance recorded: Real estate loans: One-to-four family 64 64 11 65 5 Reverse mortgage 346 346 29 342 — 410 410 40 407 5 Total impaired loans $ 17,362 $ 16,645 $ 40 $ 10,971 $ 767 December 31, 2019 Unpaid Recorded Related Average Interest (Dollars in thousands) With no related allowance recorded: Real estate loans: One-to-four family $ 4,792 $ 4,156 $ — $ 4,071 $ 234 Commercial 7,632 7,353 — 7,685 365 Commercial and industrial 2,929 2,714 — 2,595 261 Reverse mortgage 510 511 — 728 — 15,863 14,734 — 15,079 860 With an allowance recorded: Real estate loans: One-to-four family 66 66 10 24 6 Reverse mortgage 337 337 29 355 — 403 403 39 379 6 Total impaired loans $ 16,266 $ 15,137 $ 39 $ 15,458 $ 866
Schedule of Aging Analysis by Loan Class	The following tables present by loan class the aging analysis based on contractual terms, nonaccrual loans, and the Company’s recorded investment in loans held-for-investment as of the periods presented: December 31, 2020 30-59 60-89 Greater Total Current Total Nonaccruing Loans (Dollars in thousands) Real estate loans: One-to-four family $ 992 $ 85 $ 3,820 $ 4,897 $ 182,958 $ 187,855 $ 4,113 $ — Multi-family 206 — — 206 76,920 77,126 — — Commercial — — — — 301,901 301,901 — — Construction — — — — 6,272 6,272 — — Commercial and industrial — — — — 78,909 78,909 — — Consumer and other — — — — 162 162 — — Reverse mortgage — — — — 1,333 1,333 869 — Mortgage warehouse — — — — 97,903 97,903 — — Total gross loans held-for-investment $ 1,198 $ 85 $ 3,820 $ 5,103 $ 746,358 $ 751,461 $ 4,982 $ — December 31, 2019 30-59 60-89 Greater Total Current Total Nonaccruing Loans (Dollars in thousands) Real estate loans: One-to-four family $ 3,573 $ 96 $ 3,302 $ 6,971 $ 186,396 $ 193,367 $ 3,963 $ — Multi-family — — — — 81,233 81,233 — — Commercial — — — — 331,052 331,052 — — Construction — — — — 7,213 7,213 — — Commercial and industrial — — — — 14,440 14,440 1,098 — Consumer and other — — — — 122 122 — — Reverse mortgage — — — — 1,415 1,415 848 — Mortgage warehouse — — — — 39,247 39,247 — — Total gross loans held-for-investment $ 3,573 $ 96 $ 3,302 $ 6,971 $ 661,118 $ 668,089 $ 5,909 $ —
Schedule of Modifications of Loans Classified as TDRs	Modifications of loans classified as TDRs during the periods presented, are as follows: Year Ended December 31, 2019 Number of Pre- Post- (Dollars in thousands) Troubled debt restructurings: Real estate loans: One-to-four family 2 $ 1,018 $ 1,114 Commercial and industrial 1 494 494 3 $ 1,512 $ 1,608
Schedule of Financing Receivable Credit Quality Indicators Description	The Company uses the following definitions for risk ratings: Pass : Loans in all classes that are not adversely rated, are contractually current as to principal and interest, and are otherwise in compliance with the contractual terms of the loan agreement. Management believes that there is a low likelihood of loss related to those loans that are considered pass. Special mention : Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard : Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful : Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loss : Credits rated as loss are charged-off. Management has no expectation of the recovery of any payments in respect of credits rated as loss.
Schedule of Financing Receivable Credit Quality Indicators	The following tables present by portfolio class the Company’s internal risk grading system as well as certain other information concerning the credit quality of the Company’s recorded investment in loans held-for-investment as of the periods presented. No assets were classified as loss or doubtful during the periods presented. Credit Risk Grades Pass Special Mention Substandard Doubtful Total (Dollars in thousands) December 31, 2020 Real estate loans: One-to-four family $ 180,458 $ 3,284 $ 4,113 $ — $ 187,855 Multi-family 77,126 — — — 77,126 Commercial 288,309 5,825 7,767 — 301,901 Construction 6,272 — — — 6,272 Commercial and industrial 78,635 — 274 — 78,909 Consumer and other 162 — — — 162 Reverse mortgage 464 — 869 — 1,333 Mortgage warehouse 97,903 — — — 97,903 Total gross loans held-for-investment $ 729,329 $ 9,109 $ 13,023 $ — $ 751,461 Credit Risk Grades Pass Special Mention Substandard Doubtful Total (Dollars in thousands) December 31, 2019 Real estate loans: One-to-four family $ 189,405 $ — $ 3,962 $ — $ 193,367 Multi-family 81,233 — — — 81,233 Commercial 322,671 8,381 — — 331,052 Construction 7,213 — — — 7,213 Commercial and industrial 11,726 — 2,714 — 14,440 Consumer and other 122 — — — 122 Reverse mortgage 435 132 848 — 1,415 Mortgage warehouse 39,247 — — — 39,247 Total gross loans held-for-investment $ 652,052 $ 8,513 $ 7,524 $ — $ 668,089
Schedule of Loans Held-for-Investment Purchased and/or Sold	The following table presents loans held-for-investment purchased and/or sold during the year by portfolio segment: December 31, 2020 2019 Purchases Sales Purchases Sales (Dollars in thousands) Real estate loans: One-to-four family $ 89,873 $ — $ 103,658 $ — Multi-family — — 19,280 — $ 89,873 $ — $ 122,938 $ —

Premises and Equipment, Net (Ta

Premises and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Premises and Equipment	Year-end premises and equipment were as follows: December 31, 2020 2019 (Dollars in thousands) Equipment, furniture, and software $ 6,381 $ 5,459 Leasehold improvements 1,372 1,372 Automobiles — 202 7,753 7,033 Accumulated depreciation and amortization (5,681) (3,774) Total premises and equipment, net $ 2,072 $ 3,259
Schedule of Supplemental Balance Sheet Information of Leases	Supplemental balance sheet information related to leases were as follows: December 31, 2020 2019 (Dollars in thousands) Operating leases Balance Sheet Classification Right-of-use assets Other assets $ 1,799 $ 4,571 Lease liabilities Accrued expenses and other liabilities 3,376 4,881
Schedule of Weighted-Average Remaining Lease Term and Discount Rates of Leases	The weighted-average remaining lease term and discount rate were as follows: December 31, 2020 2019 Weighted-average remaining lease term 2.0 years 3.0 years Weighted-average discount rate 4.21 % 4.21 %
Schedule of Lease Expense	The components of lease expense for the periods presented were as follows: Year Ended 2020 2019 (Dollars in thousands) Operating lease costs (1) $ 2,943 $ 1,579 Short-term lease costs (2) 102 185 Variable lease costs 77 47 Less: Sublease income (155) (70) Total lease costs $ 2,967 $ 1,741 ________________________ (1) Includes a $1.4 million impairment charge related to leased office space no longer in use. (2) Short-term lease costs are for leases with a term of one year or less including terms of one month or less per accounting policy election.
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities were as follows: December 31, 2020 Operating leases (Dollars in thousands) 2021 $ 1,748 2022 1,548 2023 215 2024 26 Total lease payments 3,537 Less: imputed lease interest (161) Total lease liabilities $ 3,376

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2020
Deposits [Abstract]
Schedule of Composition of Deposits	The following table presents the composition of our deposits as of the dates presented: December 31, 2020 2019 (Dollars in thousands) Noninterest bearing demand accounts $ 5,133,579 $ 1,343,667 Interest bearing accounts: Interest bearing demand accounts 42,143 60,794 Money market and savings accounts 71,460 85,705 Certificates of deposit 844 324,488 Interest bearing accounts 114,447 470,987 Total deposits $ 5,248,026 $ 1,814,654
Schedule of Maturities of Certificates of Deposit	Certificates of deposit at December 31, 2020, are scheduled to mature as follows: Amount Year Ended December 31, (Dollars in thousands) 2021 $ 327 2022 461 2023 39 2024 — 2025 17 Total $ 844

FHLB Advances and Other Borro_2

FHLB Advances and Other Borrowings (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of FHLB Advances	The following table sets forth certain information on our FHLB advances during the periods presented: Year Ended December 31, 2020 2019 (Dollars in thousands) Amount outstanding at period-end — $ 49,000 Weighted average interest rate at period-end — 1.66 % Maximum month-end balance during the period $ 360,000 $ 218,000 Average balance outstanding during the period $ 68,522 $ 28,205 Weighted average interest rate during the period 0.50 % 1.94 %

Derivative and Hedging Activi_2

Derivative and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Financial Instruments and Classification within Statement of Financial Condition	The table below presents the fair value of the Company’s derivative financial instruments as well as the classification within the consolidated statements of financial condition. December 31, 2020 2019 Balance Sheet Fair Value Balance Sheet Fair Value (Dollars in thousands) Derivatives designated as hedging instruments: Cash flow hedge interest rate floor Derivative assets $ 30,766 Derivative assets $ 23,054 Cash flow hedge interest rate cap Derivative assets — Derivative assets 386 Fair value hedge interest rate swap Derivative assets 338 Derivative assets —
Schedule of Cumulative Basis Adjustments and Related Amortized Cost	The following table presents the cumulative basis adjustments on hedged items designated as fair value hedges and the related amortized cost of those items as of the periods presented. Carrying Amount Cumulative Amount of Fair December 31, December 31, December 31, December 31, (Dollars in thousands) Line Item in the Statement of Financial Condition of Hedged Item: Securities available-for-sale $ 15,367 $ — $ (278) $ —
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table summarizes the effects of derivatives in cash flow hedging relationships designated as hedging instruments on the Company’s consolidated statements of operations for the periods presented: Amount of Gain (Loss) Location of Gain (Loss) Amount of Gain (Loss) Year Ended Year Ended 2020 2019 2020 2019 (Dollars in thousands) Derivatives designated as hedging instruments: Cash flow hedge interest rate floor $ 6,167 $ 2,006 Interest income - Other interest earning assets $ 745 $ (355) Cash flow hedge interest rate floor 17,949 882 Interest income - Securities 2,910 (635) Cash flow hedge interest rate cap (297) (392) Interest expense - Subordinated debentures (309) (167)

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	Income tax expense consists of the following for the periods presented: Year Ended December 31, 2020 2019 (Dollars in thousands) Current provision Federal $ 3,441 $ 6,163 State 2,121 3,304 5,562 9,467 Federal deferred tax (benefit) expense (286) 241 State deferred tax (benefit) expense (120) 118 (406) 359 Income tax expense $ 5,156 $ 9,826
Schedule of Effective Income Tax Rate Reconciliation	Comparison of the federal statutory income tax rates to the Company’s effective income tax rates for the periods presented are as follows: Year Ended December 31, 2020 2019 Amount Rate Amount Rate (Dollars in thousands) Statutory federal tax $ 6,551 21.0 % $ 7,281 21.0 % State tax, net of federal benefit 1,687 5.4 % 2,697 7.8 % Tax credits (290) (0.9) % (170) (0.5) % Tax-exempt income (1,063) (3.4) % — — Excess tax benefit from stock-based compensation (1,681) (5.4) % (88) (0.3) % Other items, net (48) (0.2) % 106 0.3 % Actual tax expense $ 5,156 16.5 % $ 9,826 28.3 %
Schedule of Deferred Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities included in other assets are as follows: December 31, 2020 2019 (Dollars in thousands) Deferred tax assets Allowance for loan losses $ 1,941 $ 1,772 Accrued vacation pay 448 368 Accrued bonus 301 394 Nonaccrual loan interest 74 149 State taxes 423 633 Operating lease liabilities 948 1,397 Other 205 356 Deferred tax assets 4,340 5,069 Deferred tax liabilities Basis difference in fixed assets (271) (706) Derivatives and securities available-for-sale (17,966) (2,570) Operating lease right-of-use assets (505) (1,308) FHLB stock dividends (223) (101) Deferred loan fees (380) (501) Other (409) (307) Deferred tax liabilities (19,754) (5,493) Deferred tax liability, net $ (15,414) $ (424)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Off-Balance Sheet Items	The Company’s commitments associated with outstanding letters of credit and commitments to extend credit expiring by period as of the date indicated are summarized below. Since commitments associated with letters of credit and commitments to extend credit may expire unused, the amounts shown do not necessarily reflect the actual future cash funding requirements. December 31, 2020 2019 (Dollars in thousands) Unfunded lines of credit $ 49,487 $ 47,433 Letters of credit 133 655 Total credit extension commitments $ 49,620 $ 48,088

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Valuation Assumptions of Stock Options	The fair value of the option grants for the years ended December 31, 2020 and 2019 and were estimated on the date of the grant using the Black-Scholes option pricing model with the assumptions presented below: Year Ended December 31, 2020 2019 Weighted-average assumptions used: Risk-free interest rate 1.45 % 1.67 % Expected term 6.2 years 6.3 years Expected stock price volatility 30.88 % 30.88 % Dividend yield 0.00 % 0.00 % Weighted-average grant date fair value $ 4.93 $ 5.43
Schedule of Stock Option Activity	A summary of stock option activity as of December 31, 2020 and changes during the year then ended is presented below: Number of Weighted Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in thousands) Outstanding at January 1, 2020 917,857 $ 7.54 Granted 3,456 14.89 Exercised (293,625) 6.03 Forfeited or expired (32,385) 13.24 Outstanding at December 31, 2020 595,303 $ 8.01 3.7 years $ 39,467 Exercisable at December 31, 2020 450,569 $ 5.61 2.1 years $ 30,954 Vested or Expected to Vest at December 31, 2020 577,835 $ 7.77 3.5 years $ 38,447
Schedule of Nonvested Restricted Stock Unit Award Activity	A summary of the status of the Company’s nonvested restricted stock unit awards as of December 31, 2020, and changes during the year then ended, is presented below: Number of Shares Weighted-Average Nonvested at January 1, 2020 82,627 $ 16.09 Granted 17,527 14.48 Vested (33,457) 16.09 Forfeited (8,007) 16.09 Nonvested at December 31, 2020 58,690 $ 15.61

Regulatory Capital (Tables)

Regulatory Capital (Tables)	12 Months Ended
	Dec. 31, 2020
Regulated Operations [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	Actual capital amounts and ratios for the Company and the Bank as of December 31, 2020 and 2019, are presented in the following tables: Actual Minimum capital To be well Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) December 31, 2020 The Company Tier 1 leverage ratio $ 263,763 8.29 % $ 127,338 4.00 % N/A N/A Common equity tier 1 capital ratio 248,263 21.53 % 51,882 4.50 % N/A N/A Tier 1 risk-based capital ratio 263,763 22.88 % 69,176 6.00 % N/A N/A Total risk-based capital ratio 270,803 23.49 % 92,234 8.00 % N/A N/A The Bank Tier 1 leverage ratio 261,791 8.22 % 127,344 4.00 % $ 159,180 5.00 % Common equity tier 1 capital ratio 261,791 22.71 % 51,869 4.50 % 74,923 6.50 % Tier 1 risk-based capital ratio 261,791 22.71 % 69,159 6.00 % 92,212 8.00 % Total risk-based capital ratio 268,831 23.32 % 92,212 8.00 % 115,265 10.00 % Actual Minimum capital To be well Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) December 31, 2019 The Company Tier 1 leverage ratio $ 240,135 11.23 % $ 85,501 4.00 % N/A N/A Common equity tier 1 capital ratio 224,635 24.52 % 41,233 4.50 % N/A N/A Tier 1 risk-based capital ratio 240,135 26.21 % 54,978 6.00 % N/A N/A Total risk-based capital ratio 246,447 26.90 % 73,304 8.00 % N/A N/A The Bank Tier 1 leverage ratio 224,605 10.52 % 85,399 4.00 % $ 106,749 5.00 % Common equity tier 1 capital ratio 224,605 24.55 % 41,163 4.50 % 59,458 6.50 % Tier 1 risk-based capital ratio 224,605 24.55 % 54,884 6.00 % 73,179 8.00 % Total risk-based capital ratio 230,917 25.24 % 73,179 8.00 % 91,474 10.00 %

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	As of December 31, 2020 and 2019, assets and liabilities measured at fair value on a recurring basis are as follows: Fair Value Measurements Using Quoted Prices Significant Other Significant Level 1 Level 2 Level 3 Total (Dollars in thousands) December 31, 2020 Assets Securities available-for-sale $ — $ 939,015 $ — $ 939,015 Derivative assets — 31,104 — 31,104 $ — $ 970,119 $ — $ 970,119 Fair Value Measurements Using Quoted Prices Significant Other Significant Level 1 Level 2 Level 3 Total (Dollars in thousands) December 31, 2019 Assets Securities available-for-sale $ — $ 897,766 $ — $ 897,766 Derivative assets — 23,440 — 23,440 $ — $ 921,206 $ — $ 921,206
Schedule of Assets Measured at Fair Value on Non-Recurring Basis	As of December 31, 2020 and 2019, assets measured at fair value on a non-recurring basis are summarized as follows: Fair Value Measurements Using Quoted Prices Significant Other Significant Level 1 Level 2 Level 3 Total (Dollars in thousands) December 31, 2020 Assets Impaired loans: Reverse mortgage $ — $ — $ 317 $ 317 Fair Value Measurements Using Quoted Prices Significant Other Significant Level 1 Level 2 Level 3 Total (Dollars in thousands) December 31, 2019 Assets Impaired loans: Real estate: One-to-four family $ — $ — $ 56 $ 56 Reverse mortgage — — 308 308 Other real estate owned — — 128 128 $ — $ — $ 492 $ 492
Schedule of Fair Value Measurement Inputs and Valuation Techniques	The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis as of the date indicated: Fair Value Valuation Technique(s) Significant Range Weighted Average (1) (Dollars in thousands) December 31, 2020 Collateral-dependent impaired loans $ 317 Market comparable properties Marketability discount 10.0 % 10.0 % Selling cost 8.0 % 8.0 % ________________________ (1) Unobservable inputs were weighted by the relative fair value of the instruments.
Schedule of Fair Value by Balance Sheet Grouping	The following tables present information about the Company’s assets and liabilities that are not measured at fair value in the consolidated statements of financial condition as of the dates presented: Carrying Fair Value Measurements Using Level 1 Level 2 Level 3 Total (Dollars in thousands) December 31, 2020 Financial assets: Cash and due from banks $ 16,405 $ 16,405 $ — $ — $ 16,405 Interest earning deposits 2,945,682 2,945,682 — — 2,945,682 Loans held-for-sale 865,961 — 865,961 — 865,961 Loans held-for-investment, net 746,751 — — 751,165 751,165 Accrued interest receivable 8,698 8 2,630 6,060 8,698 Financial liabilities: Deposits $ 5,248,026 $ — $ 5,458,900 $ — $ 5,458,900 Subordinated debentures, net 15,831 — 15,231 — 15,231 Accrued interest payable 260 — 260 — 260 Carrying Fair Value Measurements Using Level 1 Level 2 Level 3 Total (Dollars in thousands) December 31, 2019 Financial assets: Cash and due from banks $ 1,579 $ 1,579 $ — $ — $ 1,579 Interest earning deposits 132,025 132,025 — — 132,025 Loans held-for-sale 375,922 — 376,126 — 376,126 Loans held-for-investment, net 664,622 — — 666,272 666,272 Accrued interest receivable 5,950 86 3,643 2,221 5,950 Financial liabilities: Deposits $ 1,814,654 $ — $ 1,826,100 $ — $ 1,826,100 FHLB advances 49,000 — 49,000 — 49,000 Notes payable 3,714 — 3,714 — 3,714 Subordinated debentures, net 15,816 — 15,203 — 15,203 Accrued interest payable 559 — 559 — 559

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The computation of basic and diluted earnings per share is shown below. Year Ended 2020 2019 (Dollars in thousands, except per share data) Basic Net income $ 26,038 $ 24,846 Weighted average common shares outstanding 18,691 17,957 Basic earnings per common share $ 1.39 $ 1.38 Diluted Net income $ 26,038 $ 24,846 Weighted average common shares outstanding for basic earnings per common share 18,691 17,957 Add: Dilutive effects of stock-based awards 486 428 Average shares and dilutive potential common shares 19,177 18,385 Dilutive earnings per common share $ 1.36 $ 1.35

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table shows for the years ended December 31, 2020 and 2019, changes in the balances of each component of accumulated other comprehensive income, net of tax: Unrealized Gains/ Derivative Accumulated (Dollars in thousands) Beginning balance, January 1, 2019 $ (1,785) $ (276) $ (2,061) Current period other comprehensive income before reclassification 6,373 2,606 8,979 Amounts reclassified from accumulated other comprehensive income (517) — (517) Ending balance, December 31, 2019 4,071 2,330 6,401 Current period other comprehensive income before reclassification 27,566 15,932 43,498 Amounts reclassified from accumulated other comprehensive income (2,679) (1,184) (3,863) Ending balance, December 31, 2020 $ 28,958 $ 17,078 $ 46,036

Parent Company Financial Info_2

Parent Company Financial Information (Tables)	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Schedule of Condensed Financial Statements	Condensed financial information for the Corporation (parent company only) is as follows: Statements of Financial Condition December 31, 2020 2019 (Dollars in thousands) ASSETS Cash and due from banks $ 1,991 $ 19,086 Investments in subsidiaries 308,740 231,927 Other assets 236 816 Total assets $ 310,967 $ 251,829 LIABILITIES AND SHAREHOLDERS’ EQUITY Notes payable $ — $ 3,714 Subordinated debentures, net 15,831 15,816 Accrued expenses and other liabilities 837 1,263 Total liabilities 16,668 20,793 Commitments and contingencies Preferred stock — — Class A common stock 188 178 Class B non-voting common stock 1 9 Additional paid-in capital 129,726 132,138 Retained earnings 118,348 92,310 Accumulated other comprehensive income 46,036 6,401 Total shareholders’ equity 294,299 231,036 Total liabilities and shareholders’ equity $ 310,967 $ 251,829 Statements of Operations Year Ended 2020 2019 (Dollars in thousands) Total interest income $ 22 $ 29 Interest expense Notes payable and other 36 224 Subordinated debentures 1,047 1,072 Total interest expense 1,083 1,296 Net interest expense (1,061) (1,267) Noninterest expense Salaries and employee benefits 1,071 957 Occupancy and equipment 102 92 Communications and data processing 176 173 Professional services 1,104 687 Correspondent bank charges 1 — Other general and administrative 280 127 Total noninterest expense 2,734 2,036 Loss before income taxes and equity in undistributed earnings of subsidiaries (3,795) (3,303) Income tax benefit (1,032) (895) Equity in undistributed earnings of subsidiaries 28,801 27,254 Net income $ 26,038 $ 24,846 Statements of Cash Flows Year Ended 2020 2019 (Dollars in thousands) Cash flows from operating activities Net income $ 26,038 $ 24,846 Adjustments to reconcile net income to net cash used in operating activities: Equity in undistributed earnings of subsidiaries (28,801) (27,254) Other, net 323 403 Changes in operating assets and liabilities: Other assets 187 1,538 Accrued expenses and other liabilities (424) (944) Net cash used in operating activities (2,677) (1,411) Cash flows from investing activities Investments in subsidiaries (7,500) — Net cash used in investing activities (7,500) — Cash flows from financing activities Payments made on notes payable (3,714) (1,143) Proceeds from issuance of common stock, net — 6,454 Proceeds from stock option exercise 41 — Taxes paid related to net share settlement of equity awards (3,335) (157) Other, net 90 (12) Net cash (used in) provided by financing activities (6,918) 5,142 Net (decrease) increase in cash and cash equivalents (17,095) 3,731 Cash and cash equivalents, beginning of year 19,086 15,355 Cash and cash equivalents, end of year $ 1,991 $ 19,086

Quarterly Financial Data (Una_2

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	The following is a summary of selected financial data presented below by quarter for the periods indicated: Three Months Ended March 31, June 30, September 30, December 31, (Dollars in thousands, except per share data) 2020: Interest income $ 20,062 $ 18,015 $ 19,305 $ 22,208 Interest expense 4,584 1,963 379 300 Net interest income 15,478 16,052 18,926 21,908 Provision for loan losses 367 222 — 153 Net interest income after provision 15,111 15,830 18,926 21,755 Noninterest income 4,931 5,434 3,964 4,848 Noninterest expense 13,875 13,972 14,133 17,625 Net income before income taxes 6,167 7,292 8,757 8,978 Income tax expense (benefit) 1,774 1,826 1,697 (141) Net income $ 4,393 $ 5,466 $ 7,060 $ 9,119 Basic earnings per share $ 0.24 $ 0.29 $ 0.38 $ 0.49 Diluted earnings per share $ 0.23 $ 0.29 $ 0.37 $ 0.47 Three Months Ended March 31, June 30, September 30, December 31, (Dollars in thousands, except per share data) 2019: Interest income $ 20,063 $ 19,472 $ 21,388 $ 20,112 Interest expense 747 1,904 2,945 4,482 Net interest income 19,316 17,568 18,443 15,630 Provision for (reversal of) loan losses 267 152 (858) — Net interest income after provision 19,049 17,416 19,301 15,630 Noninterest income 7,871 2,154 2,599 3,130 Noninterest expense 13,486 12,721 12,611 13,660 Net income before income taxes 13,434 6,849 9,289 5,100 Income tax expense 3,998 1,693 2,633 1,502 Net income $ 9,436 $ 5,156 $ 6,656 $ 3,598 Basic earnings per share $ 0.53 $ 0.29 $ 0.37 $ 0.20 Diluted earnings per share $ 0.52 $ 0.28 $ 0.36 $ 0.19

Nature of Business and Summar_3

Nature of Business and Summary of Significant Accounting Policies - Sale of Retail Branch (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations - Retail Branch in San Marcos, California $ in Millions	1 Months Ended
	Mar. 31, 2019USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reduction in loans	$ 115.4
Reduction in deposits	74.5
Pre-tax gain on sale	$ 5.5

Nature of Business and Summar_4

Nature of Business and Summary of Significant Accounting Policies - Premises and equipment (Details)	12 Months Ended
	Dec. 31, 2020
Equipment, Furniture and Automobiles | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Equipment, Furniture and Automobiles | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Software | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Software | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years

Nature of Business and Summar_5

Nature of Business and Summary of Significant Accounting Policies - Cloud Computing Arrangements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Capitalized costs associated with cloud computing arrangements	$ 2,400	$ 2,000
Amortization of capitalized costs associated with cloud computing arrangements	$ 500	$ 65

Nature of Business and Summar_6

Nature of Business and Summary of Significant Accounting Policies - Low income housing tax credit and Deferred Offering Costs (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Low income housing tax credit investment	$ 0.9	$ 1

Nature of Business and Summar_7

Nature of Business and Summary of Significant Accounting Policies - Operating Segments (Details)	12 Months Ended
	Dec. 31, 2020segment
Accounting Policies [Abstract]
Number of operating segments	1
Number of reportable segments	1

Securities - Reconciliation fro

Securities - Reconciliation from Amortized Cost to Estimated Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Available-for-sale securities
Amortized Cost	$ 898,751	$ 892,059
Gross Unrealized Gains	44,022	13,410
Gross Unrealized Losses	(3,758)	(7,703)
Fair Value	939,015	897,766
Government agency mortgage-backed securities, Residential
Available-for-sale securities
Amortized Cost	5,701	769
Gross Unrealized Gains	18	32
Gross Unrealized Losses	(55)	0
Fair Value	5,664	801
Government agency collateralized mortgage obligation, Residential
Available-for-sale securities
Amortized Cost	197,978	242,203
Gross Unrealized Gains	371	552
Gross Unrealized Losses	(298)	(837)
Fair Value	198,051	241,918
Private-label collateralized mortgage obligation, Residential
Available-for-sale securities
Amortized Cost	20,544	26,346
Gross Unrealized Gains	399	352
Gross Unrealized Losses	(256)	(198)
Fair Value	20,687	26,500
Private-label collateralized mortgage obligation, Commercial
Available-for-sale securities
Amortized Cost	164,214	364,719
Gross Unrealized Gains	18,322	12,474
Gross Unrealized Losses	0	(177)
Fair Value	182,536	377,016
Tax-exempt
Available-for-sale securities
Amortized Cost	246,159
Gross Unrealized Gains	24,200
Gross Unrealized Losses	0
Fair Value	270,359
Taxable
Available-for-sale securities
Amortized Cost	15,307
Gross Unrealized Gains	695
Gross Unrealized Losses	0
Fair Value	16,002
Government sponsored student loan pools
Available-for-sale securities
Amortized Cost	248,848	258,022
Gross Unrealized Gains	17	0
Gross Unrealized Losses	(3,149)	(6,491)
Fair Value	$ 245,716	$ 251,531

Securities - Securities in Unre

Securities - Securities in Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value
Less than 12 Months	$ 126,367	$ 219,772
12 Months or More	307,751	219,555
Total	434,118	439,327
Unrealized Losses
Less than 12 Months	(234)	(2,280)
12 Months or More	(3,524)	(5,423)
Total	(3,758)	(7,703)
Government agency mortgage-backed securities, Residential
Fair Value
Less than 12 Months	5,165
12 Months or More	0
Total	5,165
Unrealized Losses
Less than 12 Months	(55)
12 Months or More	0
Total	(55)
Government agency collateralized mortgage obligation, Residential
Fair Value
Less than 12 Months	120,912	143,633
12 Months or More	56,976	15,794
Total	177,888	159,427
Unrealized Losses
Less than 12 Months	(172)	(785)
12 Months or More	(126)	(52)
Total	(298)	(837)
Private-label collateralized mortgage obligation, Residential
Fair Value
Less than 12 Months	290	59
12 Months or More	9,950	15,168
Total	10,240	15,227
Unrealized Losses
Less than 12 Months	(7)	(1)
12 Months or More	(249)	(197)
Total	(256)	(198)
Private-label collateralized mortgage obligation, Commercial
Fair Value
Less than 12 Months		13,142
12 Months or More		0
Total		13,142
Unrealized Losses
Less than 12 Months		(177)
12 Months or More		0
Total		(177)
Government sponsored student loan pools
Fair Value
Less than 12 Months	0	62,938
12 Months or More	240,825	188,593
Total	240,825	251,531
Unrealized Losses
Less than 12 Months	0	(1,317)
12 Months or More	(3,149)	(5,174)
Total	$ (3,149)	$ (6,491)

Securities - Narrative (Details

Securities - Narrative (Details)	12 Months Ended
	Dec. 31, 2020USD ($)securityissuer	Dec. 31, 2019USD ($)security
Investments, Debt and Equity Securities [Abstract]
Investment securities pledged for borrowings	$ 0	$ 0
Number of issuers of securities issued in an amount greater than 10% of shareholders' equity | issuer	3
Fair value of securities issued in an amount greater than 10% of shareholders' equity	$ 118,100,000
Gross unrealized losses on securities in a continuous unrealized loss position	$ (3,758,000)	$ (7,703,000)
Number of securities whose estimated fair value declined | security	30	33
Decline in fair value from amortized cost (as a percent)	0.86%	1.72%
Proceeds from sale of securities available-for-sale	$ 216,355,000	$ 42,005,000
Realized gain on available-for-sale securities	4,700,000	900,000
Realized loss on available-for-sale securities	900,000	200,000
Tax expense related to net realized gains and losses	1,300,000	200,000
Credit losses recognized in earnings	$ 0	$ 0

Securities - Amortized Cost and

Securities - Amortized Cost and Estimated Fair Value of Investment Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amortized Cost
Within one year	$ 0	$ 0
After one year through five years	0	0
After five years through ten years	14,021	411
After ten years	884,730	891,648
Total	898,751	892,059
Fair Value
Within one year	0	0
After one year through five years	0	0
After five years through ten years	15,694	408
After ten years	923,321	897,358
Total	$ 939,015	$ 897,766

Loans - Narrative (Details)

Loans - Narrative (Details)	12 Months Ended
	Dec. 31, 2020USD ($)contract	Dec. 31, 2019USD ($)contract	Dec. 31, 2018USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans held-for-investment	$ 751,461,000	$ 668,089,000
Gross loans	753,667,000	670,813,000
Accrued interest on loans held-for-investment	2,700,000	2,200,000
Deferred fees, net	2,206,000	2,724,000
Allowance for loan losses	(6,916,000)	(6,191,000)	$ (6,723,000)
Investment in TDRs	1,500,000	1,800,000
Allowance allocated to investment in TDRs	$ 11,000	$ 0
Loans modified as TDRs | contract	0	3
Loans modified as TDRs, subsequent default | contract	0	0
Provision for loan loss for TDRs that subsequently defaulted	$ 0	$ 0
Related party loans	5,000,000	4,600,000
New loans advances	500,000
Increase (decrease) in balance of related party loans due to change in composition of related parties	$ (81,000)
Loans reclassified as related parties		(258,000)
Decrease in balance of related party loans due to principal payments received		100,000
Payment Deferral | COVID-19 Related Modification
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans modified | contract	55
Loan balance of loans modified	$ 143,500,000
Proportion of loan balances of total gross loans held-for-investment (as a percent)	19.10%
Number of loans still under modification	$ 63,900,000
Loan balance of loans still under modification	8.50%
Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans held-for-investment	$ 574,500,000	$ 614,300,000
Real Estate | California | Financing Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk (as a percent)	68.80%	64.80%
Real Estate | Arizona | Financing Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk (as a percent)	5.90%	10.20%
SEN Leverage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans held-for-investment	$ 77,200,000
Mortgage warehouse | Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans held-for-investment	97,903,000	$ 39,247,000
Proceeds from sale of loans receivable	191,500,000	151,300,000
Gross loans	963,900,000	405,000,000
Allowance for loan losses	$ (423,000)	$ (250,000)	$ (229,000)

Loans - Summary of Loans (Detai

Loans - Summary of Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans held-for-investment	$ 751,461	$ 668,089
Deferred fees, net	2,206	2,724
Total loans held-for-investment	753,667	670,813
Allowance for loan losses	(6,916)	(6,191)	$ (6,723)
Total loans held-for-investment, net	746,751	664,622
Total loans held-for-sale	865,961	375,922
Residential | Mortgage warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans held-for-investment	97,903	39,247
Total loans held-for-investment	963,900	405,000
Allowance for loan losses	(423)	(250)	(229)
Total loans held-for-sale	866,000	365,800
Consumer and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans held-for-investment	162	122
Allowance for loan losses	0	(1)	(1)
Reverse mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans held-for-investment	1,333	1,415
Allowance for loan losses	(39)	(37)	(54)
Real estate loans | Residential | One-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans held-for-investment	187,855	193,367
Allowance for loan losses	(1,245)	(2,051)	(1,848)
Real estate loans | Residential | Multi-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans held-for-investment	77,126	81,233
Allowance for loan losses	(878)	(653)	(483)
Real estate loans | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans held-for-investment	301,901	331,052
Allowance for loan losses	(1,810)	(2,791)	(3,854)
Real estate loans | Commercial | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans held-for-investment	6,272	7,213
Allowance for loan losses	(590)	(96)	(98)
Commercial and industrial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans held-for-investment	78,909	14,440
Allowance for loan losses	$ (1,931)	$ (312)	$ (156)

Loans - Allowance (Details)

Loans - Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 6,191	$ 6,723
Charge-offs	(17)	(93)
Recoveries	0	0
Provision for loan losses	742	(439)
Ending balance	6,916	6,191
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Specifically evaluated impaired loans			$ 40	$ 39
General portfolio allocation			6,876	6,152
Total allowance for loan losses	6,191	6,191	6,916	6,191
Specifically evaluated			16,645	15,137
Collectively evaluated			734,816	652,952
Total gross loans held-for-investment			751,461	668,089
Residential | One-to-four family | Real estate loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	2,051	1,848
Charge-offs	(17)	(93)
Recoveries	0	0
Provision for loan losses	(789)	296
Ending balance	1,245	2,051
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Specifically evaluated impaired loans			11	10
General portfolio allocation			1,234	2,041
Total allowance for loan losses	2,051	2,051	1,245	2,051
Specifically evaluated			5,780	4,222
Collectively evaluated			182,075	189,145
Total gross loans held-for-investment			187,855	193,367
Residential | Multi-family | Real estate loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	653	483
Charge-offs	0	0
Recoveries	0	0
Provision for loan losses	225	170
Ending balance	878	653
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Specifically evaluated impaired loans			0	0
General portfolio allocation			878	653
Total allowance for loan losses	653	653	878	653
Specifically evaluated			0	0
Collectively evaluated			77,126	81,233
Total gross loans held-for-investment			77,126	81,233
Residential | Mortgage warehouse
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	250	229
Charge-offs	0	0
Recoveries	0	0
Provision for loan losses	173	21
Ending balance	423	250
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Specifically evaluated impaired loans			0	0
General portfolio allocation			423	250
Total allowance for loan losses	423	229	423	250
Specifically evaluated			0	0
Collectively evaluated			97,903	39,247
Total gross loans held-for-investment			97,903	39,247
Commercial | Real estate loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	2,791	3,854
Charge-offs	0	0
Recoveries	0	0
Provision for loan losses	(981)	(1,063)
Ending balance	1,810	2,791
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Specifically evaluated impaired loans			0	0
General portfolio allocation			1,810	2,791
Total allowance for loan losses	1,810	3,854	1,810	2,791
Specifically evaluated			9,722	7,353
Collectively evaluated			292,179	323,699
Total gross loans held-for-investment			301,901	331,052
Commercial | Construction | Real estate loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	96	98
Charge-offs	0	0
Recoveries	0	0
Provision for loan losses	494	(2)
Ending balance	590	96
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Specifically evaluated impaired loans			0	0
General portfolio allocation			590	96
Total allowance for loan losses	590	98	590	96
Specifically evaluated			0	0
Collectively evaluated			6,272	7,213
Total gross loans held-for-investment			6,272	7,213
Commercial and industrial | Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	312	156
Charge-offs	0	0
Recoveries	0	0
Provision for loan losses	1,619	156
Ending balance	1,931	312
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Specifically evaluated impaired loans			0	0
General portfolio allocation			1,931	312
Total allowance for loan losses	312	312	1,931	312
Specifically evaluated			274	2,714
Collectively evaluated			78,635	11,726
Total gross loans held-for-investment			78,909	14,440
Consumer and other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	1	1
Charge-offs	0	0
Recoveries	0	0
Provision for loan losses	(1)	0
Ending balance	0	1
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Specifically evaluated impaired loans			0	0
General portfolio allocation			0	1
Total allowance for loan losses	1	1	0	1
Specifically evaluated			0	0
Collectively evaluated			162	122
Total gross loans held-for-investment			162	122
Reverse mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	37	54
Charge-offs	0	0
Recoveries	0	0
Provision for loan losses	2	(17)
Ending balance	39	37
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Specifically evaluated impaired loans			29	29
General portfolio allocation			10	8
Total allowance for loan losses	$ 39	$ 54	39	37
Specifically evaluated			869	848
Collectively evaluated			464	567
Total gross loans held-for-investment			$ 1,333	$ 1,415

Loans - Impaired Loans (Details

Loans - Impaired Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance - Unpaid Principal Balance	$ 16,952	$ 15,863
Impaired loans with no related allowance - Recorded Investment	16,235	14,734
Impaired loans with related allowance - Unpaid Principal Balance	410	403
Impaired loans with related allowance - Recorded Investment	410	403
Impaired loans - Unpaid Principal Balance	17,362	16,266
Impaired loans - Recorded Investment	16,645	15,137
Impaired loans - Related Allowance	40	39
Impaired loans with no related allowance - Average Recorded Investment	10,564	15,079
Impaired loans with no related allowance - Interest Income Recognized	762	860
Impaired loans with related allowance - Average Recorded Investment	407	379
Impaired loans with related allowance - Interest Income Recognized	5	6
Impaired loans - Average Recorded Investment	10,971	15,458
Impaired loans - Interest Income Recognized	767	866
Reverse mortgage
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance - Unpaid Principal Balance	523	510
Impaired loans with no related allowance - Recorded Investment	523	511
Impaired loans with related allowance - Unpaid Principal Balance	346	337
Impaired loans with related allowance - Recorded Investment	346	337
Impaired loans - Related Allowance	29	29
Impaired loans with no related allowance - Average Recorded Investment	516	728
Impaired loans with no related allowance - Interest Income Recognized	0	0
Impaired loans with related allowance - Average Recorded Investment	342	355
Impaired loans with related allowance - Interest Income Recognized	0	0
Real estate loans | Residential | One-to-four family
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance - Unpaid Principal Balance	6,432	4,792
Impaired loans with no related allowance - Recorded Investment	5,716	4,156
Impaired loans with related allowance - Unpaid Principal Balance	64	66
Impaired loans with related allowance - Recorded Investment	64	66
Impaired loans - Related Allowance	11	10
Impaired loans with no related allowance - Average Recorded Investment	3,748	4,071
Impaired loans with no related allowance - Interest Income Recognized	215	234
Impaired loans with related allowance - Average Recorded Investment	65	24
Impaired loans with related allowance - Interest Income Recognized	5	6
Real estate loans | Commercial
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance - Unpaid Principal Balance	9,723	7,632
Impaired loans with no related allowance - Recorded Investment	9,722	7,353
Impaired loans with no related allowance - Average Recorded Investment	4,620	7,685
Impaired loans with no related allowance - Interest Income Recognized	522	365
Commercial and industrial | Commercial and industrial
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance - Unpaid Principal Balance	274	2,929
Impaired loans with no related allowance - Recorded Investment	274	2,714
Impaired loans with no related allowance - Average Recorded Investment	1,680	2,595
Impaired loans with no related allowance - Interest Income Recognized	$ 25	$ 261

Loans - Aging Analysis (Details

Loans - Aging Analysis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	$ 5,103	$ 6,971
Loans Receivable, Current	746,358	661,118
Total gross loans held-for-investment	751,461	668,089
Loans Receivable, Nonaccruing	4,982	5,909
Loans Receivable > 89 Days and Accruing	0	0
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	1,198	3,573
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	85	96
Greater than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	3,820	3,302
Residential | Mortgage warehouse
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Loans Receivable, Current	97,903	39,247
Total gross loans held-for-investment	97,903	39,247
Loans Receivable, Nonaccruing	0	0
Loans Receivable > 89 Days and Accruing	0	0
Residential | Mortgage warehouse | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Residential | Mortgage warehouse | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Residential | Mortgage warehouse | Greater than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Consumer and other
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Loans Receivable, Current	162	122
Total gross loans held-for-investment	162	122
Loans Receivable, Nonaccruing	0	0
Loans Receivable > 89 Days and Accruing	0	0
Consumer and other | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Consumer and other | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Consumer and other | Greater than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Reverse mortgage
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Loans Receivable, Current	1,333	1,415
Total gross loans held-for-investment	1,333	1,415
Loans Receivable, Nonaccruing	869	848
Loans Receivable > 89 Days and Accruing	0	0
Reverse mortgage | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Reverse mortgage | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Reverse mortgage | Greater than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Real estate loans | Residential | One-to-four family
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	4,897	6,971
Loans Receivable, Current	182,958	186,396
Total gross loans held-for-investment	187,855	193,367
Loans Receivable, Nonaccruing	4,113	3,963
Loans Receivable > 89 Days and Accruing	0	0
Real estate loans | Residential | One-to-four family | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	992	3,573
Real estate loans | Residential | One-to-four family | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	85	96
Real estate loans | Residential | One-to-four family | Greater than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	3,820	3,302
Real estate loans | Residential | Multi-family
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	206	0
Loans Receivable, Current	76,920	81,233
Total gross loans held-for-investment	77,126	81,233
Loans Receivable, Nonaccruing	0	0
Loans Receivable > 89 Days and Accruing	0	0
Real estate loans | Residential | Multi-family | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	206	0
Real estate loans | Residential | Multi-family | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Real estate loans | Residential | Multi-family | Greater than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Real estate loans | Commercial
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Loans Receivable, Current	301,901	331,052
Total gross loans held-for-investment	301,901	331,052
Loans Receivable, Nonaccruing	0	0
Loans Receivable > 89 Days and Accruing	0	0
Real estate loans | Commercial | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Real estate loans | Commercial | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Real estate loans | Commercial | Greater than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Real estate loans | Commercial | Construction
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Loans Receivable, Current	6,272	7,213
Total gross loans held-for-investment	6,272	7,213
Loans Receivable, Nonaccruing	0	0
Loans Receivable > 89 Days and Accruing	0	0
Real estate loans | Commercial | Construction | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Real estate loans | Commercial | Construction | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Real estate loans | Commercial | Construction | Greater than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Commercial and industrial | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Loans Receivable, Current	78,909	14,440
Total gross loans held-for-investment	78,909	14,440
Loans Receivable, Nonaccruing	0	1,098
Loans Receivable > 89 Days and Accruing	0	0
Commercial and industrial | Commercial and industrial | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Commercial and industrial | Commercial and industrial | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	0	0
Commercial and industrial | Commercial and industrial | Greater than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Past Due	$ 0	$ 0

Loans - Trouble Debt Restructur

Loans - Trouble Debt Restructurings (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020contract	Dec. 31, 2019USD ($)contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | contract	0	3
Pre- Modifications Outstanding Recorded Investment		$ 1,512
Post- Modifications Outstanding Recorded Investment		$ 1,608
Real estate loans | Residential | One-to-four family
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | contract		2
Pre- Modifications Outstanding Recorded Investment		$ 1,018
Post- Modifications Outstanding Recorded Investment		$ 1,114
Commercial and industrial | Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | contract		1
Pre- Modifications Outstanding Recorded Investment		$ 494
Post- Modifications Outstanding Recorded Investment		$ 494

Loans - Credit Quality Indicato

Loans - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	$ 751,461	$ 668,089
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	729,329	652,052
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	9,109	8,513
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	13,023	7,524
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Residential | Mortgage warehouse
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	97,903	39,247
Residential | Mortgage warehouse | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	97,903	39,247
Residential | Mortgage warehouse | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Residential | Mortgage warehouse | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Residential | Mortgage warehouse | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	162	122
Consumer and other | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	162	122
Consumer and other | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Consumer and other | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Consumer and other | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Reverse mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	1,333	1,415
Reverse mortgage | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	464	435
Reverse mortgage | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	132
Reverse mortgage | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	869	848
Reverse mortgage | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Real estate loans | Residential | One-to-four family
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	187,855	193,367
Real estate loans | Residential | One-to-four family | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	180,458	189,405
Real estate loans | Residential | One-to-four family | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	3,284	0
Real estate loans | Residential | One-to-four family | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	4,113	3,962
Real estate loans | Residential | One-to-four family | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Real estate loans | Residential | Multi-family
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	77,126	81,233
Real estate loans | Residential | Multi-family | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	77,126	81,233
Real estate loans | Residential | Multi-family | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Real estate loans | Residential | Multi-family | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Real estate loans | Residential | Multi-family | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Real estate loans | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	301,901	331,052
Real estate loans | Commercial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	288,309	322,671
Real estate loans | Commercial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	5,825	8,381
Real estate loans | Commercial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	7,767	0
Real estate loans | Commercial | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Real estate loans | Commercial | Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	6,272	7,213
Real estate loans | Commercial | Construction | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	6,272	7,213
Real estate loans | Commercial | Construction | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Real estate loans | Commercial | Construction | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Real estate loans | Commercial | Construction | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Commercial and industrial | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	78,909	14,440
Commercial and industrial | Commercial and industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	78,635	11,726
Commercial and industrial | Commercial and industrial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	0	0
Commercial and industrial | Commercial and industrial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	274	2,714
Commercial and industrial | Commercial and industrial | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total gross loans held-for-investment	$ 0	$ 0

Loans - Purchased and Sold (Det

Loans - Purchased and Sold (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchases	$ 89,873	$ 122,938
Sales	0	0
Real estate loans | Residential | One-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchases	89,873	103,658
Sales	0	0
Real estate loans | Residential | Multi-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchases	0	19,280
Sales	$ 0	$ 0

Premises and Equipment, Net - S

Premises and Equipment, Net - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 7,753	$ 7,033
Accumulated depreciation and amortization	(5,681)	(3,774)
Total premises and equipment, net	2,072	3,259
Equipment, furniture, and software
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	6,381	5,459
Leasehold improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	1,372	1,372
Automobiles
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 0	$ 202

Premises and Equipment, Net - N

Premises and Equipment, Net - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2,100,000	$ 900,000
Depreciation expense related to disposal of furniture, equipment, and leasehold improvements no longer in use	900,000
Leases not yet commenced	0
Cash paid for amounts included in the measurement of operating lease liabilities	$ 1,700,000	$ 1,500,000

Premises and Equipment, Net -_2

Premises and Equipment, Net - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Right-of-use assets	$ 1,799	$ 4,571
Lease liabilities	$ 3,376	$ 4,881
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets	us-gaap:OtherAssets
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesAndOtherLiabilities	us-gaap:AccruedLiabilitiesAndOtherLiabilities

Premises and Equipment, Net - W

Premises and Equipment, Net - Weighted Average Lease Term and Discount Rate (Details)	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Weighted-average remaining lease term	2 years	3 years
Weighted-average discount rate (as a percent)	4.21%	4.21%

Premises and Equipment, Net - L

Premises and Equipment, Net - Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Operating lease costs	$ 2,943	$ 1,579
Short-term lease costs	102	185
Variable lease costs	77	47
Less: Sublease income	(155)	(70)
Total lease costs	2,967	$ 1,741
Impairment charge related to leased office space	$ 1,400

Premises and Equipment, Net - M

Premises and Equipment, Net - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
2021	$ 1,748
2022	1,548
2023	215
2024	26
Total lease payments	3,537
Less: imputed lease interest	(161)
Total lease liabilities	$ 3,376	$ 4,881

Deposits - Composition (Details

Deposits - Composition (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deposits [Abstract]
Noninterest bearing demand accounts	$ 5,133,579	$ 1,343,667
Interest bearing accounts:
Interest bearing demand accounts	42,143	60,794
Money market and savings accounts	71,460	85,705
Certificates of deposit	844	324,488
Interest bearing accounts	114,447	470,987
Total deposits	$ 5,248,026	$ 1,814,654

Deposits - Maturities (Details)

Deposits - Maturities (Details) $ in Thousands	Dec. 31, 2020USD ($)
Time Deposits, Fiscal Year Maturity [Abstract]
2021	$ 327
2022	461
2023	39
2024	0
2025	17
Total	$ 844

Deposits - Narrative (Details)

Deposits - Narrative (Details) $ in Millions	Dec. 31, 2020USD ($)exchange	Dec. 31, 2019USD ($)exchange
Time Deposits [Line Items]
Certificates of deposits at or above FDIC insurance limit	$ 0	$ 0.1
Deposits from officers, directors, and affiliates	1.2	1
Brokered certificates of deposit	0	322.4
Deposits of 10 largest depositors	$ 2,500	$ 523.6
Proportion of total deposits of 10 largest depositors (as a percent)	47.50%	28.90%
Proportion of deposits from digital currency exchanges (as a percent)	47.20%	29.10%
Number of digital currency exchanges with deposits | exchange	76	60

FHLB Advances and Other Borro_3

FHLB Advances and Other Borrowings - FHLB Advances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Federal home loan bank advances	$ 0	$ 49,000
Weighted average interest rate at period-end (as a percent)	0.00%	1.66%
Maximum month-end balance during the period	$ 360,000	$ 218,000
Average balance outstanding during the period	$ 68,522	$ 28,205
Weighted average interest rate during the period (as a percent)	0.50%	1.94%

FHLB Advances and Other Borro_4

FHLB Advances and Other Borrowings - Narrative (Details)	12 Months Ended
	Dec. 31, 2020USD ($)bank	Dec. 31, 2019USD ($)
Short-term Debt [Line Items]
FHLB advances, leverage ratio, maximum	35.00%
FHLB advances, collateral pledged	$ 1,455,900,000	$ 875,900,000
FHLB advances, unused borrowing capacity	893,000,000	554,600,000
FHLB advances, settled	$ 64,000,000
FHLB advances, term	5 years
Gain on extinguishment of debt	$ 925,000	0
Federal funds purchased, maximum borrowing capacity	$ 68,000,000
Number of correspondent banks | bank	3
Federal funds purchased, amount outstanding	$ 0	0
Federal Reserve Bank Advances
Short-term Debt [Line Items]
FRB advances, collateral pledged	6,300,000	10,100,000
FRB advances, current borrowing capacity	4,800,000
FRB advances, amount outstanding	$ 0	$ 0

Notes Payable (Details)

Notes Payable (Details) - USD ($)	Jan. 29, 2016	Dec. 31, 2019
Debt Instrument [Line Items]
Outstanding principal balance		$ 3,714,000
Term Loan | 2.60% Note Payable Due January 29, 2021
Debt Instrument [Line Items]
Principal amount	$ 8,000,000
Interest rate (as a percent)	2.60%
Outstanding principal balance		$ 3,700,000
Minimum | Term Loan | 2.60% Note Payable Due January 29, 2021 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.00%

Subordinated Debentures, Net (D

Subordinated Debentures, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jan. 31, 2005	Jul. 31, 2001
Debt Instrument [Line Items]
Outstanding principal balance		$ 3,714,000
Subordinated Debentures
Debt Instrument [Line Items]
Interest payments, deferment period	5 years
Outstanding principal balance	$ 15,800,000	15,800,000
Unamortized debt issuance costs	$ 100,000	$ 200,000
Subordinated Debentures | Trust Two | Trust Two
Debt Instrument [Line Items]
Minority interest (as a percent)	3.00%
Subordinated Debentures | 2001 Subordinated Debentures Maturing July 25, 2031 | Trust One
Debt Instrument [Line Items]
Principal amount				$ 12,500,000
Effective interest rate (as a percent)	4.06%
Redemption price (as a percent)	100.00%
Subordinated Debentures | 2001 Subordinated Debentures Maturing July 25, 2031 | Trust One | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Interest rate (as a percent)	0.31%			375.00%
Subordinated Debentures | 2005 Subordinated Debentures Maturing March 15, 2035 | Trust Two
Debt Instrument [Line Items]
Principal amount			$ 3,000,000
Redemption price (as a percent)	100.00%
Subordinated Debentures | 2005 Subordinated Debentures Maturing March 15, 2035 | Trust Two | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Interest rate (as a percent)	0.22%		185.00%
Effective interest rate (as a percent)	2.07%

Derivative and Hedging Activi_3

Derivative and Hedging Activities - Narrative (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)instrument	Dec. 31, 2012USD ($)	Dec. 31, 2019USD ($)instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cash collateral posted by the counterparty		$ 0.3
Estimated net derivative gain included in OCI to be reclassified into earnings		$ 4.8
Estimated time for net derivative gain included in OCI to be reclassified into earnings		12 months
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of derivative instruments | instrument		2
Derivative, notional amount		$ 14.3
Cash flow hedge interest rate floor
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of derivative instruments | instrument				20
Derivative, notional amount				$ 400
Derivative, notional amount sold	$ 200
Upfront fee paid to counterparty		$ 20.8
Proceeds from sale of derivative	13
Gain on sale of derivatives	$ 8.4
Recognition period for net gain on sale of derivative	4 years 1 month 6 days
Cash flow hedge interest rate cap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Upfront fee paid to counterparty			$ 2.5
Cap Agreement Expiring July 25, 2022 | Cash flow hedge interest rate cap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount			12.5
Cap Agreement Expiring March 15, 2022 | Cash flow hedge interest rate cap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount			$ 3
Fed Funds Rate | Cash flow hedge interest rate floor
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Floor interest rate (as a percent)				2.50%
London Interbank Offered Rate (LIBOR) | Cash flow hedge interest rate floor
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Floor interest rate (as a percent)	2.25%
London Interbank Offered Rate (LIBOR) | Cap Agreement Expiring July 25, 2022 | Cash flow hedge interest rate cap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cap interest rate (as a percent)			0.75%
London Interbank Offered Rate (LIBOR) | Cap Agreement Expiring March 15, 2022 | Cash flow hedge interest rate cap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cap interest rate (as a percent)			0.50%

Derivative and Hedging Activi_4

Derivative and Hedging Activities - Fair Value by Balance Sheet Location (Details) - Derivative assets - Derivatives designated as hedging instruments - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Cash flow hedge interest rate floor
Derivatives, Fair Value [Line Items]
Derivative assets	$ 30,766	$ 23,054
Cash flow hedge interest rate cap
Derivatives, Fair Value [Line Items]
Derivative assets	0	386
Fair value hedge interest rate swap
Derivatives, Fair Value [Line Items]
Derivative assets	$ 338	$ 0

Derivative and Hedging Activi_5

Derivative and Hedging Activities - Cumulative Amount of Fair Value Hedging Adjustments (Details) - Securities available-for-sale - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying Amount of the Hedged Asset (Liability)	$ 15,367	$ 0
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets/(Liabilities)	$ (278)	$ 0

Derivative and Hedging Activi_6

Derivative and Hedging Activities - Amount of Gain (Loss) Recognized in OCI and Reclassified into Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain (Loss) Recognized in OCI	$ 22,186	$ 3,653
Interest income - Other interest earning assets	1,639	8,723
Interest expense - Subordinated debentures	(1,047)	(1,072)
Derivatives designated as hedging instruments | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest income - Other interest earning assets	745	(355)
Interest income - Securities	2,910	(635)
Interest expense - Subordinated debentures	(309)	(167)
Derivatives designated as hedging instruments | Cash flow hedge interest rate floor
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain (Loss) Recognized in OCI	6,167	2,006
Derivatives designated as hedging instruments | Cash flow hedge interest rate floor
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain (Loss) Recognized in OCI	17,949	882
Derivatives designated as hedging instruments | Cash flow hedge interest rate cap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain (Loss) Recognized in OCI	$ (297)	$ (392)

Income Taxes - Expense (Details

Income Taxes - Expense (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Current provision
Federal									$ 3,441	$ 6,163
State									2,121	3,304
Current provision									5,562	9,467
Federal deferred tax (benefit) expense									(286)	241
State deferred tax (benefit) expense									(120)	118
Deferred tax (benefit) expense									(406)	359
Income tax expense	$ (141)	$ 1,697	$ 1,826	$ 1,774	$ 1,502	$ 2,633	$ 1,693	$ 3,998	$ 5,156	$ 9,826

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Amount
Statutory federal tax									$ 6,551	$ 7,281
State tax, net of federal benefit									1,687	2,697
Tax credits									(290)	(170)
Tax-exempt income									(1,063)	0
Excess tax benefit from stock-based compensation									(1,681)	(88)
Other items, net									(48)	106
Income tax expense	$ (141)	$ 1,697	$ 1,826	$ 1,774	$ 1,502	$ 2,633	$ 1,693	$ 3,998	$ 5,156	$ 9,826
Rate
Statutory federal tax (as a percent)									21.00%	21.00%
State tax, net of federal benefit (as a percent)									5.40%	7.80%
Tax credits (as a percent)									(0.90%)	(0.50%)
Tax exempt income (as a percent)									(3.40%)	0.00%
Excess tax benefit from stock-based compensation (as a percent)									(5.40%)	(0.30%)
Other items, net (as a percent)									(0.20%)	0.30%
Actual tax expense (as a percent)									16.50%	28.30%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense	$ (141)	$ 1,697	$ 1,826	$ 1,774	$ 1,502	$ 2,633	$ 1,693	$ 3,998	$ 5,156	$ 9,826
Effective tax rate (as a percent)									16.50%	28.30%

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets
Allowance for loan losses	$ 1,941	$ 1,772
Accrued vacation pay	448	368
Accrued bonus	301	394
Nonaccrual loan interest	74	149
State taxes	423	633
Operating lease liabilities	948	1,397
Other	205	356
Deferred tax assets	4,340	5,069
Deferred tax liabilities
Basis difference in fixed assets	(271)	(706)
Derivatives and securities available-for-sale	(17,966)	(2,570)
Operating lease right-of-use assets	(505)	(1,308)
FHLB stock dividends	(223)	(101)
Deferred loan fees	(380)	(501)
Other	(409)	(307)
Deferred tax liabilities	(19,754)	(5,493)
Deferred tax liability, net	$ (15,414)	$ (424)

Commitments and Contingencies -

Commitments and Contingencies - Off-Balance Sheet Items (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Allowance for commitments	$ 100	$ 100
Total credit extension commitments	49,620	48,088
Unfunded lines of credit
Debt Instrument [Line Items]
Total credit extension commitments	49,487	47,433
Letters of credit
Debt Instrument [Line Items]
Total credit extension commitments	$ 133	$ 655

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2018	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 900	$ 200
Stock based compensation expense, tax benefit	2,200	12
Intrinsic value of options exercised	7,800	500
Tax benefit from option exercises	2,100	100
Unrecognized stock-based compensation expense related to stock options	$ 600
Period unrecognized expenses is expected to be recognized	2 years 9 months 18 days
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (shares)			1,596,753
2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (shares)	0			730,784
Award vesting rights rate, change in control (as a percent)	100.00%
Stock Options | 2018 and 2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Terms of award	10 years
Forfeiture period after service termination	60 days
Stock option issuance exercise price, proportion of fair value (as a percent)	100.00%
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period unrecognized expenses is expected to be recognized	2 years 6 months
Unrecognized stock-based compensation expense	$ 700
Fair value of awards vested during the period	$ 500	$ 0
Minimum | Stock Options | 2018 and 2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Minimum | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Maximum | Stock Options | 2018 and 2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Maximum | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years

Stock-based Compensation - Assu

Stock-based Compensation - Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value (USD per share)	$ 4.93	$ 5.43
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (as a percent)	1.45%	1.67%
Expected term	6 years 2 months 12 days	6 years 3 months 18 days
Expected stock price volatility (as a percent)	30.88%	30.88%
Dividend yield (as a percent)	0.00%	0.00%

Stock-based Compensation - Stoc

Stock-based Compensation - Stock Compensation Plans (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares
Number of Options
Outstanding at beginning of period (shares) | shares	917,857
Granted (shares) | shares	3,456
Exercised (shares) | shares	(293,625)
Forfeited or expired (shares) | shares	(32,385)
Outstanding at end of period (shares) | shares	595,303
Exercisable at end of period (shares) | shares	450,569
Vested or Expected to Vest at end of period (shares) | shares	577,835
Weighted Average Exercise Price
Outstanding at beginning of period (USD per share) | $ / shares	$ 7.54
Granted (USD per share) | $ / shares	14.89
Exercised (USD per share) | $ / shares	6.03
Forfeited or expired (USD per share) | $ / shares	13.24
Outstanding at end of period (USD per share) | $ / shares	8.01
Exercisable at end of period (USD per share) | $ / shares	5.61
Vested or Expected to Vest at end of period (USD per share) | $ / shares	$ 7.77
Weighted Average Remaining Contractual Life (in years)
Outstanding at end of period	3 years 8 months 12 days
Exercisable at end of period	2 years 1 month 6 days
Vested or Expected to Vest at end of period	3 years 6 months
Aggregate Intrinsic Value (in thousands)
Outstanding at end of period | $	$ 39,467
Exercisable at end of period | $	30,954
Vested or Expected to Vest at end of period | $	$ 38,447

Stock-based Compensation - Rest

Stock-based Compensation - Restricted Stock Units Activity (Details) - Restricted Stock Units	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Number of Shares
Balance at beginning of period (shares) | shares	82,627
Granted (shares) | shares	17,527
Vested (shares) | shares	(33,457)
Forfeited (shares) | shares	(8,007)
Balance at end of period (shares) | shares	58,690
Weighted-Average Grant Date Fair Value Per Share
Balance at beginning of period (USD per share) | $ / shares	$ 16.09
Granted (USD per share) | $ / shares	14.48
Vested (USD per share) | $ / shares	16.09
Forfeited (USD per share) | $ / shares	16.09
Balance at end of period (USD per share) | $ / shares	$ 15.61

Employee Benefit Plan (Details)

Employee Benefit Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Employee participation (as a percent)	92.00%
Employer matching contribution, proportion of employee contribution (as a percent)	50.00%	25.00%
Employer matching contribution, proportion of employee compensation (as a percent)	5.00%	6.00%
Employer contribution amount	$ 0.5	$ 0.3

Regulatory Capital (Details)

Regulatory Capital (Details) $ in Thousands	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
The Company
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 leverage ratio, amount	$ 263,763	$ 240,135
Tier 1 leverage ratio	0.0829	0.1123
Tier 1 leverage ratio, minimum capital adequacy, amount	$ 127,338	$ 85,501
Tier 1 leverage ratio, minimum capital adequacy	0.0400	0.0400
Common equity tier 1 capital ratio, amount	$ 248,263	$ 224,635
Common equity tier 1 capital ratio	0.2153	0.2452
Common equity tier 1 capital ratio, minimum capital adequacy, amount	$ 51,882	$ 41,233
Common equity tier 1 capital ratio, minimum capital adequacy	4.50%	4.50%
Tier 1 risk-based capital ratio, amount	$ 263,763	$ 240,135
Tier 1 risk-based capital ratio	0.2288	0.2621
Tier 1 risk-based capital ratio, minimum capital adequacy, amount	$ 69,176	$ 54,978
Tier 1 risk-based capital ratio, minimum capital adequacy	0.0600	0.0600
Total risk-based capital ratio, amount	$ 270,803	$ 246,447
Total risk-based capital ratio	0.2349	0.2690
Total risk-based capital ratio, minimum capital adequacy, amount	$ 92,234	$ 73,304
Total risk-based capital ratio, minimum capital adequacy	0.0800	0.0800
The Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 leverage ratio, amount	$ 261,791	$ 224,605
Tier 1 leverage ratio	0.0822	0.1052
Tier 1 leverage ratio, minimum capital adequacy, amount	$ 127,344	$ 85,399
Tier 1 leverage ratio, minimum capital adequacy	0.0400	0.0400
Tier 1 leverage ratio, to be well capitalized, amount	$ 159,180	$ 106,749
Tier 1 leverage ratio, to be well capitalized	0.0500	0.0500
Common equity tier 1 capital ratio, amount	$ 261,791	$ 224,605
Common equity tier 1 capital ratio	0.2271	0.2455
Common equity tier 1 capital ratio, minimum capital adequacy, amount	$ 51,869	$ 41,163
Common equity tier 1 capital ratio, minimum capital adequacy	4.50%	4.50%
Common equity tier 1 capital ratio, to be well capitalized, amount	$ 74,923	$ 59,458
Common equity tier 1 capital ratio, to be well capitalized	6.50%	6.50%
Tier 1 risk-based capital ratio, amount	$ 261,791	$ 224,605
Tier 1 risk-based capital ratio	0.2271	0.2455
Tier 1 risk-based capital ratio, minimum capital adequacy, amount	$ 69,159	$ 54,884
Tier 1 risk-based capital ratio, minimum capital adequacy	0.0600	0.0600
Tier 1 risk-based capital ratio, to be well capitalized, amount	$ 92,212	$ 73,179
Tier 1 risk-based capital ratio, to be well capitalized	0.0800	0.0800
Total risk-based capital ratio, amount	$ 268,831	$ 230,917
Total risk-based capital ratio	0.2332	0.2524
Total risk-based capital ratio, minimum capital adequacy, amount	$ 92,212	$ 73,179
Total risk-based capital ratio, minimum capital adequacy	0.0800	0.0800
Total risk-based capital ratio, to be well capitalized, amount	$ 115,265	$ 91,474
Total risk-based capital ratio, to be well capitalized	0.1000	0.1000

Fair Value - Recurring Basis (D

Fair Value - Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Securities available-for-sale	$ 939,015	$ 897,766
Derivative assets	31,104	23,440
Recurring Basis
Assets
Securities available-for-sale	939,015	897,766
Derivative assets	31,104	23,440
Total	970,119	921,206
Recurring Basis | Level 1
Assets
Securities available-for-sale	0	0
Derivative assets	0	0
Total	0	0
Recurring Basis | Level 2
Assets
Securities available-for-sale	939,015	897,766
Derivative assets	31,104	23,440
Total	970,119	921,206
Recurring Basis | Level 3
Assets
Securities available-for-sale	0	0
Derivative assets	0	0
Total	$ 0	$ 0

Fair Value - Non-Recurring Basi

Fair Value - Non-Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Impaired loans	$ 751,165	$ 666,272
Level 1
Assets
Impaired loans	0	0
Level 2
Assets
Impaired loans	0	0
Level 3
Assets
Impaired loans	751,165	666,272
Non-recurring basis
Assets
Other real estate owned		128
Total		492
Non-recurring basis | Level 1
Assets
Other real estate owned		0
Total		0
Non-recurring basis | Level 2
Assets
Other real estate owned		0
Total		0
Non-recurring basis | Level 3
Assets
Other real estate owned		128
Total		492
Reverse mortgage | Non-recurring basis
Assets
Impaired loans	317	308
Reverse mortgage | Non-recurring basis | Level 1
Assets
Impaired loans	0	0
Reverse mortgage | Non-recurring basis | Level 2
Assets
Impaired loans	0	0
Reverse mortgage | Non-recurring basis | Level 3
Assets
Impaired loans	$ 317	308
Real estate loans | Residential | Non-recurring basis | One-to-four family
Assets
Impaired loans		56
Real estate loans | Residential | Non-recurring basis | Level 1 | One-to-four family
Assets
Impaired loans		0
Real estate loans | Residential | Non-recurring basis | Level 2 | One-to-four family
Assets
Impaired loans		0
Real estate loans | Residential | Non-recurring basis | Level 3 | One-to-four family
Assets
Impaired loans		$ 56

Fair Value - Valuation Methodol

Fair Value - Valuation Methodology and Unobservable Inputs (Details) $ in Thousands	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans	$ 751,165	$ 666,272
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans	751,165	$ 666,272
Collateral-Dependent Impaired Loans | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans	$ 317
Collateral-Dependent Impaired Loans | Level 3 | Selling cost
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input (as a percent)	0.080
Collateral-Dependent Impaired Loans | Market comparable properties | Level 3 | Marketability discount
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input (as a percent)	0.100
Collateral-Dependent Impaired Loans | Weighted Average | Level 3 | Selling cost
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input (as a percent)	0.080
Collateral-Dependent Impaired Loans | Weighted Average | Market comparable properties | Level 3 | Marketability discount
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input (as a percent)	0.100

Fair Value - Fair Value by Bala

Fair Value - Fair Value by Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financial assets:
Cash and due from banks, Carrying Amount	$ 16,405	$ 1,579
Cash and due from banks, Fair Value	16,405	1,579
Interest earning deposits, Carrying Amount	2,945,682	132,025
Loans held-for-sale, Carrying Amount	865,961	375,922
Loans held-for-sale, Fair Value	865,961	376,126
Loans held-for-investment, net, Carrying Amount	746,751	664,622
Loans held-for-investment, net, Fair Value	751,165	666,272
Accrued interest receivable, Carrying Amount	8,698	5,950
Accrued interest receivable, Fair Value	8,698	5,950
Financial liabilities:
Deposits, Carrying Amount	5,248,026	1,814,654
Deposits, Fair Value	5,458,900	1,826,100
FHLB advances, Carrying Amount	0	49,000
FHLB advances, Fair Value		49,000
Notes payable, Carrying Amount		3,714
Notes payable, Fair Value		3,714
Subordinated debentures, Carrying Amount	15,831	15,816
Subordinated debentures, Fair Value	15,231	15,203
Accrued interest payable, Carrying Amount	260	559
Accrued interest payable, Fair Value	260	559
Interest earning deposits
Financial assets:
Cash and due from banks, Fair Value	2,945,682	132,025
Level 1
Financial assets:
Cash and due from banks, Fair Value	16,405	1,579
Loans held-for-sale, Fair Value	0	0
Loans held-for-investment, net, Fair Value	0	0
Accrued interest receivable, Fair Value	8	86
Financial liabilities:
Deposits, Fair Value	0	0
FHLB advances, Fair Value		0
Notes payable, Fair Value		0
Subordinated debentures, Fair Value	0	0
Accrued interest payable, Fair Value	0	0
Level 1 | Interest earning deposits
Financial assets:
Cash and due from banks, Fair Value	2,945,682	132,025
Level 2
Financial assets:
Cash and due from banks, Fair Value	0	0
Loans held-for-sale, Fair Value	865,961	376,126
Loans held-for-investment, net, Fair Value	0	0
Accrued interest receivable, Fair Value	2,630	3,643
Financial liabilities:
Deposits, Fair Value	5,458,900	1,826,100
FHLB advances, Fair Value		49,000
Notes payable, Fair Value		3,714
Subordinated debentures, Fair Value	15,231	15,203
Accrued interest payable, Fair Value	260	559
Level 2 | Interest earning deposits
Financial assets:
Cash and due from banks, Fair Value	0	0
Level 3
Financial assets:
Cash and due from banks, Fair Value	0	0
Loans held-for-sale, Fair Value	0	0
Loans held-for-investment, net, Fair Value	751,165	666,272
Accrued interest receivable, Fair Value	6,060	2,221
Financial liabilities:
Deposits, Fair Value	0	0
FHLB advances, Fair Value		0
Notes payable, Fair Value		0
Subordinated debentures, Fair Value	0	0
Accrued interest payable, Fair Value	0	0
Level 3 | Interest earning deposits
Financial assets:
Cash and due from banks, Fair Value	$ 0	$ 0

Earnings Per Share - Summary (D

Earnings Per Share - Summary (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Basic
Net income	$ 9,119	$ 7,060	$ 5,466	$ 4,393	$ 3,598	$ 6,656	$ 5,156	$ 9,436	$ 26,038	$ 24,846
Weighted average common shares outstanding (shares)									18,691	17,957
Basic earnings per common share (USD per share)	$ 0.49	$ 0.38	$ 0.29	$ 0.24	$ 0.20	$ 0.37	$ 0.29	$ 0.53	$ 1.39	$ 1.38
Diluted
Net income	$ 9,119	$ 7,060	$ 5,466	$ 4,393	$ 3,598	$ 6,656	$ 5,156	$ 9,436	$ 26,038	$ 24,846
Weighted average common shares outstanding for basic earnings per common share (shares)									18,691	17,957
Add: Dilutive effects of assumed exercise of stock options (shares)									486	428
Average shares and dilutive potential common shares (shares)									19,177	18,385
Dilutive earnings per common share (USD per share)	$ 0.47	$ 0.37	$ 0.29	$ 0.23	$ 0.19	$ 0.36	$ 0.28	$ 0.52	$ 1.36	$ 1.35

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Share awards excluded from computation of diluted earnings per share, because they were anti-dilutive (in shares)	160	127

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 15, 2019	Nov. 07, 2019	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock authorized (shares)			10,000,000	10,000,000
Preferred stock, par value (USD per share)			$ 0.01	$ 0.01
Proceeds from common stock issuance, net			$ 0	$ 6,462
Class A Common Stock
Class of Stock [Line Items]
Common stock authorized (shares)			125,000,000	125,000,000
Common stock, par value (USD per share)			$ 0.01	$ 0.01
Class B Common Stock
Class of Stock [Line Items]
Common stock authorized (shares)			25,000,000	25,000,000
Common stock, par value (USD per share)			$ 0.01	$ 0.01
IPO
Class of Stock [Line Items]
Net proceeds from stock issuance (shares)		3,300,000
Offering price per share (USD per share)		$ 12
Proceeds from common stock issuance, net		$ 9,900
Proceeds from issuance of private placement, net		$ 6,500
IPO - shares offered by the Company
Class of Stock [Line Items]
Net proceeds from stock issuance (shares)		824,605
IPO - shares offered by selling shareholders
Class of Stock [Line Items]
Net proceeds from stock issuance (shares)		2,508,728
Over-Allotment Option
Class of Stock [Line Items]
Net proceeds from stock issuance (shares)	499,999

Shareholders' Equity - Accumula

Shareholders' Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ 231,036	$ 191,246
Current period other comprehensive income before reclassification	43,498	8,979
Amounts reclassified from accumulated other comprehensive income	(3,863)	(517)
Balance at end of period	294,299	231,036
Accumulated Other Comprehensive Income/(Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	6,401	(2,061)
Balance at end of period	46,036	6,401
Unrealized Gains/ (Losses) on Available-for- Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	4,071	(1,785)
Current period other comprehensive income before reclassification	27,566	6,373
Amounts reclassified from accumulated other comprehensive income	(2,679)	(517)
Balance at end of period	28,958	4,071
Derivative Asset/(Liability)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	2,330	(276)
Current period other comprehensive income before reclassification	15,932	2,606
Amounts reclassified from accumulated other comprehensive income	(1,184)	0
Balance at end of period	$ 17,078	$ 2,330

Parent Company Financial Info_3

Parent Company Financial Information - Statement of Financial Condition (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Cash and due from banks	$ 16,405	$ 1,579
Other assets	15,696	13,300
Total assets	5,586,235	2,128,127
Notes payable		3,714
Subordinated debentures, net and other	15,831	15,816
Accrued expenses and other liabilities	28,079	13,907
Total liabilities	5,291,936	1,897,091
Commitments and contingencies
Preferred stock	0	0
Additional paid-in capital	129,726	132,138
Retained earnings	118,348	92,310
Accumulated other comprehensive income	46,036	6,401
Total shareholders’ equity	294,299	231,036	$ 191,246
Total liabilities and shareholders’ equity	5,586,235	2,128,127
Class A Common Stock
Condensed Financial Statements, Captions [Line Items]
Common stock	188	178
Class B Common Stock
Condensed Financial Statements, Captions [Line Items]
Common stock	1	9
The Company
Condensed Financial Statements, Captions [Line Items]
Cash and due from banks	1,991	19,086
Investments in subsidiaries	308,740	231,927
Other assets	236	816
Total assets	310,967	251,829
Notes payable	0	3,714
Subordinated debentures, net and other	15,831	15,816
Accrued expenses and other liabilities	837	1,263
Total liabilities	16,668	20,793
Commitments and contingencies
Preferred stock	0	0
Additional paid-in capital	129,726	132,138
Retained earnings	118,348	92,310
Accumulated other comprehensive income	46,036	6,401
Total shareholders’ equity	294,299	231,036
Total liabilities and shareholders’ equity	310,967	251,829
The Company | Class A Common Stock
Condensed Financial Statements, Captions [Line Items]
Common stock	188	178
The Company | Class B Common Stock
Condensed Financial Statements, Captions [Line Items]
Common stock	$ 1	$ 9

Parent Company Financial Info_4

Parent Company Financial Information - Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Total interest income	$ 22,208	$ 19,305	$ 18,015	$ 20,062	$ 20,112	$ 21,388	$ 19,472	$ 20,063	$ 79,590	$ 81,035
Interest expense
Notes payable and other									36	747
Subordinated debentures									1,047	1,072
Total interest expense	300	379	1,963	4,584	4,482	2,945	1,904	747	7,226	10,078
Net interest expense	21,908	18,926	16,052	15,478	15,630	18,443	17,568	19,316	72,364	70,957
Noninterest expense
Salaries and employee benefits									36,493	33,897
Occupancy and equipment									5,690	3,638
Communications and data processing									5,406	4,607
Professional services									4,460	4,605
Correspondent bank charges									1,533	1,191
Other general and administrative									4,525	3,713
Total noninterest expense	17,625	14,133	13,972	13,875	13,660	12,611	12,721	13,486	59,605	52,478
Income before income taxes	8,978	8,757	7,292	6,167	5,100	9,289	6,849	13,434	31,194	34,672
Income tax benefit	(141)	1,697	1,826	1,774	1,502	2,633	1,693	3,998	5,156	9,826
Net income	$ 9,119	$ 7,060	$ 5,466	$ 4,393	$ 3,598	$ 6,656	$ 5,156	$ 9,436	26,038	24,846
The Company
Condensed Financial Statements, Captions [Line Items]
Total interest income									22	29
Interest expense
Notes payable and other									36	224
Subordinated debentures									1,047	1,072
Total interest expense									1,083	1,296
Net interest expense									(1,061)	(1,267)
Noninterest expense
Salaries and employee benefits									1,071	957
Occupancy and equipment									102	92
Communications and data processing									176	173
Professional services									1,104	687
Correspondent bank charges									1	0
Other general and administrative									280	127
Total noninterest expense									2,734	2,036
Income before income taxes									(3,795)	(3,303)
Income tax benefit									(1,032)	(895)
Equity in undistributed earnings of subsidiaries									28,801	27,254
Net income									$ 26,038	$ 24,846

Parent Company Financial Info_5

Parent Company Financial Information - Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net income	$ 9,119	$ 7,060	$ 5,466	$ 4,393	$ 3,598	$ 6,656	$ 5,156	$ 9,436	$ 26,038	$ 24,846
Adjustments to reconcile net income to net cash used in operating activities:
Other, net									(70)	474
Changes in operating assets and liabilities:
Accrued interest receivable and other assets									(6,779)	(1,223)
Accrued expenses and other liabilities									(1,354)	(3,328)
Net cash used in operating activities									(479,314)	(126,862)
Cash flows from investing activities
Net cash used in investing activities									(70,582)	(574,501)
Cash flows from financing activities
Payments made on notes payable									(3,714)	(1,143)
Proceeds from common stock issuance, net									0	6,462
Proceeds from stock option exercise									41	0
Taxes paid related to net share settlement of equity awards									(3,335)	(157)
Other, net									90	285
Net cash provided by financing activities									3,378,379	160,547
Net increase (decrease) in cash and cash equivalents									2,828,483	(540,816)
Cash and cash equivalents, beginning of period				133,604				674,420	133,604	674,420
Cash and cash equivalents, end of period	2,962,087				133,604				2,962,087	133,604
The Company
Cash flows from operating activities
Net income									26,038	24,846
Adjustments to reconcile net income to net cash used in operating activities:
Equity in undistributed earnings of subsidiaries									(28,801)	(27,254)
Other, net									323	403
Changes in operating assets and liabilities:
Accrued interest receivable and other assets									187	1,538
Accrued expenses and other liabilities									(424)	(944)
Net cash used in operating activities									(2,677)	(1,411)
Cash flows from investing activities
Investments in subsidiaries									(7,500)	0
Net cash used in investing activities									(7,500)	0
Cash flows from financing activities
Payments made on notes payable									(3,714)	(1,143)
Proceeds from common stock issuance, net									0	6,454
Proceeds from stock option exercise									41	0
Taxes paid related to net share settlement of equity awards									(3,335)	(157)
Other, net									90	(12)
Net cash provided by financing activities									(6,918)	5,142
Net increase (decrease) in cash and cash equivalents									(17,095)	3,731
Cash and cash equivalents, beginning of period				$ 19,086				$ 15,355	19,086	15,355
Cash and cash equivalents, end of period	$ 1,991				$ 19,086				$ 1,991	$ 19,086

Quarterly Financial Data (Una_3

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Interest income	$ 22,208	$ 19,305	$ 18,015	$ 20,062	$ 20,112	$ 21,388	$ 19,472	$ 20,063	$ 79,590	$ 81,035
Interest expense	300	379	1,963	4,584	4,482	2,945	1,904	747	7,226	10,078
Net interest income before provision for loan losses	21,908	18,926	16,052	15,478	15,630	18,443	17,568	19,316	72,364	70,957
Provision for (reversal of) loan losses	153	0	222	367	0	(858)	152	267	742	(439)
Net interest income after provision for loan losses	21,755	18,926	15,830	15,111	15,630	19,301	17,416	19,049	71,622	71,396
Noninterest income	4,848	3,964	5,434	4,931	3,130	2,599	2,154	7,871	19,177	15,754
Noninterest expense	17,625	14,133	13,972	13,875	13,660	12,611	12,721	13,486	59,605	52,478
Income before income taxes	8,978	8,757	7,292	6,167	5,100	9,289	6,849	13,434	31,194	34,672
Income tax expense	(141)	1,697	1,826	1,774	1,502	2,633	1,693	3,998	5,156	9,826
Net income	$ 9,119	$ 7,060	$ 5,466	$ 4,393	$ 3,598	$ 6,656	$ 5,156	$ 9,436	$ 26,038	$ 24,846
Basic earnings per share (USD per share)	$ 0.49	$ 0.38	$ 0.29	$ 0.24	$ 0.20	$ 0.37	$ 0.29	$ 0.53	$ 1.39	$ 1.38
Diluted earnings per share (USD per share)	$ 0.47	$ 0.37	$ 0.29	$ 0.23	$ 0.19	$ 0.36	$ 0.28	$ 0.52	$ 1.36	$ 1.35

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 26, 2021	Dec. 31, 2020	Dec. 31, 2019
Subsequent Event [Line Items]
Aggregate net proceeds of stock offering		$ 0	$ 6,462
Subsequent Event | Follow-on Offering, including Over-Allotment Option | Class A Common Stock
Subsequent Event [Line Items]
Stock issued during period (shares)	4,563,493
Offering price per share (USD per share)	$ 63
Aggregate gross proceeds of stock offering	$ 287,500
Aggregate net proceeds of stock offering	$ 272,100
Subsequent Event | Over-Allotment Option | Class A Common Stock
Subsequent Event [Line Items]
Stock issued during period (shares)	595,238