BayFirst Financial (BAFN) 10-K 30 Mar 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 23, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-41068
Entity Registrant Name	BAYFIRST FINANCIAL CORP.
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	59-3665079
Entity Address, Address Line One	700 Central Avenue
Entity Address, City or Town	St. Petersburg
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33701
City Area Code	727
Local Phone Number	440-6848
Title of 12(b) Security	Common stock
Trading Symbol	BAFN
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
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	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 74,537,483
Entity Common Stock, Shares Outstanding		4,013,173
Entity Central Index Key	0001649739
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	Dixon Hughes Goodman LLP
Auditor Firm ID	57
Auditor Location	Tampa, Florida

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and due from banks	$ 2,869	$ 2,790
Interest-bearing deposits in banks	106,858	52,589
Cash and cash equivalents	109,727	55,379
Time deposits in banks	2,381	2,381
Investment securities available for sale	30,893	0
Investment securities held to maturity	2	41
Restricted equity securities, at cost	2,827	2,362
SBA loans held for investment, at fair value	9,614	9,264
Loans held for investment, at amortized cost net of allowance for loan losses of $13,452 and $21,162	560,882	1,197,896
Accrued interest receivable	3,564	7,300
Premises and equipment, net	29,671	18,115
Loan servicing rights	6,619	8,160
Deferred income taxes	454	3,808
Right-of-use operating lease assets	4,543	3,737
Bank owned life insurance	24,547	12,183
Other assets	15,780	15,361
Total assets	917,095	1,544,691
Liabilities:
Noninterest-bearing deposits	83,638	62,650
Interest-bearing transaction accounts	163,495	140,265
Savings and money market deposits	423,864	286,744
Time deposits	50,688	69,125
Total deposits	721,685	558,784
Subordinated debentures	5,985	5,948
Notes payable	3,299	3,754
PPP Liquidity Facility	69,654	881,262
Accrued interest payable	326	1,999
Operating lease liabilities	4,747	3,925
Accrued expenses and other liabilities	15,109	17,950
Total liabilities	820,805	1,473,622
Shareholders’ equity:
Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 3,981,117 and 3,485,018 shares issued and outstanding at December 31, 2021 and December 31, 2020	51,496	43,043
Accumulated other comprehensive income (loss), net	(420)	0
Unearned compensation	(17)	(41)
Retained earnings	35,947	13,390
Total shareholders’ equity	96,290	71,069
Total liabilities and shareholders’ equity	917,095	1,544,691
Residential loans held for sale
ASSETS
Loans held for sale	114,131	208,704
Government guaranteed loans
ASSETS
Loans held for sale	1,460	0
Preferred Shares, Series A
Shareholders’ equity:
Preferred stock	6,161	6,161
Preferred Shares, Series B
Shareholders’ equity:
Preferred stock	$ 3,123	$ 8,516

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance for loan losses	$ 13,452	$ 21,162	$ 10,742
Common stock and additional paid-in capital, shares authorized (in shares)	15,000,000	15,000,000
Common stock and additional paid-in capital, shares issued (in shares)	3,981,117	3,485,018
Common stock and additional paid-in capital, shares outstanding (in shares)	3,981,117	3,485,018
Preferred Shares, Series A
Preferred stock, shares authorized (in shares)	10,000	10,000
Preferred stock, shares issued (in shares)	6,395	6,395
Preferred stock, shares outstanding (in shares)	6,395	6,395
Preferred stock, aggregate liquidation preference	$ 6,395	$ 6,395
Preferred Shares, Series B
Preferred stock, shares authorized (in shares)	20,000	20,000
Preferred stock, shares issued (in shares)	3,210	8,760
Preferred stock, shares outstanding (in shares)	3,210	8,760
Preferred stock, aggregate liquidation preference	$ 3,210	$ 8,760

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Interest income:
Loans, including fees	$ 46,973	$ 43,089
Interest-bearing deposits in banks and other	570	641
Total interest income	47,543	43,730
Interest expense:
Deposits	4,885	7,490
Borrowings	2,415	2,788
Total interest expense	7,300	10,278
Net interest income	40,243	33,452
Provision for loan losses	(3,500)	16,900
Net interest income after provision for loan losses	43,743	16,552
Noninterest income:
Residential loan fee income	95,543	92,678
Loan servicing income, net	1,875	2,024
Service charges and fees	1,028	933
Other noninterest income	923	407
Total noninterest income	117,577	97,695
Noninterest expense:
Salaries and benefits	51,569	36,403
Bonus, commissions, and incentives	37,946	34,072
Mortgage banking	5,731	5,292
Occupancy and equipment	5,236	4,453
Data processing	6,532	4,418
Marketing and business development	7,620	3,553
Professional services	4,688	3,533
Loan origination and collection	2,452	2,040
Employee recruiting and development	3,345	1,769
Regulatory assessments	442	444
Other noninterest expense	3,281	2,492
Total noninterest expense	128,842	98,469
Income before income tax expense	32,478	15,778
Income tax expense	7,860	3,075
Net income	24,618	12,703
Less: Preferred stock dividends	1,005	863
Net income available to common shareholders	$ 23,613	$ 11,840
Basic earnings per common share (in USD per share)	$ 6.21	$ 3.45
Dilutive earnings per common share (in USD per share)	$ 5.74	$ 3.01
Government guaranteed loans
Gain (loss) on sale of government guaranteed loans, net	$ 18,024	$ 1,652
SBA Loan
Gain (loss) on sale of government guaranteed loans, net	4,207	1,652
SBA loan fair value gain	184	1
Interest income:
Total interest income	$ 559	$ 725

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 24,618	$ 12,703
Other comprehensive income (loss), net
Net unrealized gains (losses) on investment securities available for sale	(571)	0
Deferred income tax benefit	151	0
Other comprehensive income (loss), net	(420)	0
Comprehensive income	$ 24,198	$ 12,703

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($)		Total	Common Stock	Preferred StockPreferred Shares, Series A	Preferred StockPreferred Shares, Series B	Common Shares		Common SharesCommon Stock		Accumulated Other Comprehensive Income (Loss)	Unearned Compensation	Retained Earnings
Shares, beginning balance (in shares) at Dec. 31, 2019				7,895	0	3,393,788	[1]
Stockholders' equity, beginning balance at Dec. 31, 2019		$ 51,332,000		$ 7,661,000	$ 0	$ 41,362,000				$ 0	$ (156,000)	$ 2,465,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		12,703,000										12,703,000
Issuance of common stock under non-qualified stock purchase plan (in shares)	[1]					35,795
Issuance of common stock under non-qualified stock purchase plan		$ 434,000				$ 434,000
Issuance of common stock under dividend reinvestment plan (in shares)		34,737				34,737	[1]
Issuance of common stock under dividend reinvestment plan		$ 501,000				$ 501,000
Issuance of common stock under employee stock ownership plan (in shares)	[1]					17,552
Issuance of common stock under Employee stock ownership plan		260,000				$ 260,000
Issuance of stock during the period, net (in shares)					6,760
Issuance of stock during the period, net		6,516,000			$ 6,516,000
Conversion of subordinated debt to Series B preferred stock (in shares)					500
Conversion of subordinated debt to Series B preferred stock		500,000			$ 500,000
Stock-based awards - common stock: Restricted stock (in shares)	[1]					(9,055)
Stock-based awards - common stock: Restricted stock		1,000				$ (114,000)					115,000
Stock-based awards - common stock: Stock options		372,000				$ 372,000
Stock grants (in shares)	[1]					12,201
Stock grants		228,000				$ 228,000
Conversion of preferred stock (in shares)				(1,500)	1,500
Conversion of preferred stock		0		$ (1,500,000)	$ 1,500,000
Other comprehensive income (loss), net		0
Dividend declared on preferred stock		(863,000)										(863,000)
Dividend declared on common stock		(915,000)										(915,000)
Shares, ending balance (in shares) at Dec. 31, 2020				6,395	8,760	3,485,018	[1]
Stockholders' equity, ending balance at Dec. 31, 2020		71,069,000		$ 6,161,000	$ 8,516,000	$ 43,043,000				0	(41,000)	13,390,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		24,618,000										24,618,000
Issuance of common stock under non-qualified stock purchase plan (in shares)	[1]					36,494
Issuance of common stock under non-qualified stock purchase plan		$ 662,000				$ 662,000
Issuance of common stock under dividend reinvestment plan (in shares)		17,971				17,971	[1]
Issuance of common stock under dividend reinvestment plan		$ 389,000				$ 389,000
Issuance of common stock under employee stock ownership plan (in shares)	[1]					24,920
Issuance of common stock under Employee stock ownership plan		366,000				$ 366,000
Issuance of stock during the period, net (in shares)					740			43,471	[1]
Issuance of stock during the period, net		727,000	$ 856,000		$ 727,000			$ 856,000
Unearned ESOP shares allocation		(371,000)				$ (371,000)
Stock-based awards - common stock: Restricted stock (in shares)	[1]					2,031
Stock-based awards - common stock: Restricted stock		49,000				$ 25,000					24,000
Stock-based awards - common stock: Stock options		406,000				$ 406,000
Conversion of preferred stock (in shares)					(6,290)	371,212	[1]
Conversion of preferred stock		0			$ (6,120,000)	$ 6,120,000
Other comprehensive income (loss), net		(420,000)								(420,000)
Dividend declared on preferred stock		(1,005,000)										(1,005,000)
Dividend declared on common stock		(1,056,000)										(1,056,000)
Shares, ending balance (in shares) at Dec. 31, 2021				6,395	3,210	3,981,117	[1]
Stockholders' equity, ending balance at Dec. 31, 2021		$ 96,290,000		$ 6,161,000	$ 3,123,000	$ 51,496,000				$ (420,000)	$ (17,000)	$ 35,947,000
[1]	Common shares for all periods shown herein reflect the three-for-two stock split, effective on May 10, 2021.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 24,618	$ 12,703
Adjustments to reconcile net income to net cash from operating activities:
Depreciation of fixed assets	1,741	1,411
Net securities premium amortization	102	1
Amortization of debt issuance costs	105	32
Accretion of discount on PPP loans purchased	(84)	0
Provision for loan losses	(3,500)	16,900
Accretion of discount on unguaranteed loans	(1,923)	(2,397)
Deferred income taxes	3,505	(3,707)
Origination of government guaranteed loans held for sale	(1,460)	(23,877)
Origination of residential loans held for sale	(2,222,078)	(1,919,862)
Net gains on sales of residential loans held for sale	(89,578)	(88,336)
Amortization of loan servicing rights	3,008	3,650
Non-qualified stock purchase plan expense	57	43
Stock based compensation expense	461	373
Executive stock grants	0	228
Income from bank owned life insurance	(364)	(183)
Changes in:
Accrued interest receivable	3,736	(5,177)
Other assets	(1,225)	(13,181)
Accrued interest payable	(1,673)	1,779
Other liabilities	(2,019)	12,293
Net cash from (used in) operating activities	101,212	(107,822)
Cash flows from investing activities:
Purchase of investment securities available for sale	(33,208)	0
Principal payments on investment securities available for sale	1,643	0
Principal payments on investment securities held to maturity	38	1
Purchase of restricted equity securities	(465)
Purchase of restricted equity securities		137
Purchase of PPP loans	0	(22,404)
Proceeds from sales of PPP and government guaranteed loans originally classified as held for investment	376,206	0
Loan (originations) and payments, net	282,944
Loan (originations) and payments, net		(896,066)
Purchase of premises and equipment	(13,297)	(3,047)
Purchase of bank owned life insurance	(12,000)	(12,000)
Net cash from (used in) investing activities	601,861	(933,379)
Cash flows from financing activities:
Net change in deposits	162,901	110,190
Net proceeds (repayments) issuance of long-term FHLB advances	0	(10,000)
Proceeds from issuance of subordinated debt, net of costs	5,932	0
Payments on notes payable	(455)	(342)
Net proceeds (repayments) of PPP Liquidity Facility borrowings	(811,608)	881,262
Proceeds from issuance of preferred stock, net	727	6,516
Redemption of subordinated debt	(6,000)	(1,000)
Proceeds from sale of common stock, net	1,850	916
ESOP contribution	366	260
Unearned ESOP shares allocation	(371)	0
Dividends paid on common stock	(1,056)	(915)
Dividends paid on preferred stock	(1,005)	(863)
Tax benefit from options exercised	(6)	(24)
Net cash from financing activities	(648,725)	986,000
Net change in cash and cash equivalents	54,348	(55,201)
Cash and cash equivalents, beginning of period	55,379	110,580
Cash and cash equivalents, end of period	109,727	55,379
Supplemental cash flow information
Interest paid	8,973	8,499
Income taxes paid	10,383	9,748
Supplemental noncash disclosures
Net change in unrealized holding gain on investment securities available for sale	(420)	0
Recognition of right of use asset and operating lease liability	543	2,000
Conversion of subordinated debt to Series B preferred stock	0	500
Preferred Shares, Series B
Supplemental noncash disclosures
Conversion of stock	6,120	0
Preferred Shares, Series A
Supplemental noncash disclosures
Conversion of stock	0	1,500
Residential loans held for sale
Adjustments to reconcile net income to net cash from operating activities:
Proceeds from sale of loans held-for-sale	2,401,057	1,881,959
Net gains on sales of residential loans held for sale	(89,578)	(88,336)
Changes in fair value, gain (loss)	4,934	(6,049)
PPP and Government Loans
Adjustments to reconcile net income to net cash from operating activities:
Net gains on sales of PPP and governement loans	(18,024)	(1,652)
Government guaranteed loans
Adjustments to reconcile net income to net cash from operating activities:
Proceeds from sale of loans held-for-sale	0	25,228
Net gains on sales of PPP and governement loans	(18,024)	(1,652)
SBA Loan
Adjustments to reconcile net income to net cash from operating activities:
Net gains on sales of PPP and governement loans	(4,207)	(1,652)
Changes in fair value, gain (loss)	$ (184)	$ (1)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical)	12 Months Ended
	Dec. 31, 2021$ / shares	Dec. 31, 2020$ / shares
Statement of Stockholders' Equity [Abstract]
Dividend declared on common stock (in USD per share)	$ 0.277	$ 0.268

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Principles of Consolidation : The accompanying unaudited consolidated financial statements include BayFirst Financial Corp. and its wholly owned subsidiary, First Home Bank, together referred to as “the Company”. BayFirst Financial Corp. is a registered bank holding company, incorporated under the laws of the State of Florida. The Company owns all outstanding stock of First Home Bank (the “Bank”), a Florida chartered commercial bank. A significant portion of the Company’s assets and revenues are derived from the operations of the Bank. The Company provides a variety of traditional community banking services through its full-service banking centers located in St. Petersburg, Seminole, Pinellas Park, Clearwater, Sarasota, Tampa, and Belleair Bluffs, Florida. The Bank’s primary deposit products are demand deposits, NOW accounts, money market accounts, savings deposits, and time deposits and its primary lending products are residential mortgage, commercial, and installment loans. In addition, the Company provides lending services nationwide to small business customers, and as such, a significant portion of the loans originated by the Bank are guaranteed by the SBA. The guaranteed portion of the SBA loan can be sold in the secondary market, and the Bank routinely engages in the sale of participating interests of the non-guaranteed portion. The Company also engages in mortgage banking activities with offices located in a number of states and as such, originates and sells one-to-four family residential mortgage loans in the secondary market. The Company principally operates in two business segments, Banking and Residential Mortgage Lending. Effective May 10, 2021, the Company effected a three-for-two stock split. All share amounts and per share financial data contained in these financial statements related to periods prior and subsequent to this stock split have been adjusted to reflect the split. Use of Estimates : To prepare financial statements in conformity with GAAP, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. The most significant estimates relate to the allowance for loan losses, SBA loan servicing rights, and fair value of residential loans held for sale and residential mortgage derivatives. Reclassifications : Some items in the prior year financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or shareholders’ equity. Cash Flows : Cash and cash equivalents include cash, deposits with other financial institutions with original maturities less than 90 days, and federal funds sold. Net cash flows are reported for customer loan and deposit transactions, interest bearing deposits in other financial institutions, and federal funds purchased. Emerging Growth Company Status: The Company is an EGC, as defined in the JOBS Act, through December 31, 2026. Section 107 of the JOBS Act provides that an emerging growth company can take advantage of an extended transition period when complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of this extended transition period, which means these financial statements, as well as financial statements we file in the future for as long as we remain an emerging growth company, will be subject to all new or revised accounting standards generally applicable to private companies. Contingencies : Due to the nature of their activities, the Company and its subsidiary are at times engaged in various legal proceedings that arise in the course of normal business, some of which were outstanding as of December 31, 2021. Although the ultimate outcome of all claims and lawsuits outstanding as of December 31, 2021 cannot be ascertained at this time, it is the opinion of management that these matters, when resolved, will not have a material adverse effect on the Company’s results of operations or financial condition. New Accounting Standards Not Yet Adopted : Allowance for credit losses: In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”) . This new guidance was issued to replace the incurred loss model for loans and other financial assets with an expected loss model, which is referred to as the CECL model. The CECL model is applicable to the measurement of credit losses on financial assets measured at amortized cost, including loan receivables and debt securities held to maturity. It also applies to off-balance sheet credit exposures not accounted for as insurance (i.e., loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in certain leases recognized by a lessor. In addition, the amendments in ASU 2016-13 require credit losses on securities available for sale to be presented as a valuation allowance rather than as a direct write-down thereon. The amendments in this ASU are effective for the Company for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Early adoption is permitted; however, the Company has elected to adopt new or revised accounting standards using the delayed effective dates applicable to Emerging Growth Companies. Management is in the process of evaluating the impact of adoption of this ASU on its Consolidated Financial Statements, processes, and controls and is not currently able to reasonably estimate the impact of adoption on the Company’s consolidated financial position, results of operations, or cash flows; however, adoption is likely to lead to significant changes in accounting policies related to, and the methods employed in estimating, the allowance for credit losses. It is possible that the impact will be material to the Company’s consolidated financial position and results of operations. To date, the Company has established a CECL steering committee, has developed an implementation plan, and is implementing software to house and maintain the CECL model. Time Deposits in Banks : Time deposits with other banks have maturities ranging from August 2023 through December 2025 and bear interest at rates ranging from 2.15% to 3.50%. None of the time deposit had maturities of 12 months or less at the time of origination. All investments in time deposit are with FDIC insured financial institutions and none exceed the maximum insurable amount of $250,000. Investment Securities : Investment securities transactions are recorded on a trade date basis. The company has one debt security classified as held-to-maturity since management had the intent and ability to hold the security to maturity. The remaining investment securities are classified as available for sale since the Company may sell them before maturity. Available-for-sale securities are recorded at fair value. Unrealized gains and losses, net of the related tax effect, on available-for-sale securities are included in other comprehensive income and the related accumulated unrealized holding gains and losses are reported as a separate component of shareholders’ equity until realized. Equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments. Management evaluates securities for OTTI on at least a quarterly basis. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. Restricted Equity Securities : Restricted equity securities consist of FHLB Stock, FRB Stock, and stock in a correspondent bank, all of which are considered equity securities without readily determinable fair values. The Bank is a member of the FHLB system, and 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. The Bank is also a member of its regional FRB. Loans Held for Sale : The Company designates government guaranteed loans as held for sale based on its intent to sell guaranteed or non-guaranteed portions of these loans in the secondary market. The Company makes the determination of which loans to sell during each quarter, and these loans are typically sold and settled prior to quarter-end. Government guaranteed loans held for sale are accounted for at lower of cost or fair value. Gains or losses on the sale of these loans are recorded in non-interest income on the Consolidated Statements of Income. The Company also originates residential loans intended for sale in the secondary market which are carried at fair value with gains and losses recorded in non-interest income. Most residential loans are sold servicing released, so there is no servicing income recognized on those loans or an associated servicing asset recorded on the Consolidated Balance Sheets. Interest income is recognized on those loans held for sale until the loan sale is fully completed and the loan is transferred. Interest income on loans held for sale is reflected along with portfolio loans in interest and fees on loans in the Consolidated Statements of Income. Loans : Except for certain loans for which the fair value option was elected during 2018, as discussed in Note 5 , all other 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 and costs, and an allowance for loan losses. Interest income is accrued on the unpaid principal balances. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments. In general, interest income is discontinued, and the loan is placed on non-accrual status, at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Mortgage and commercial loans are evaluated on a loan-by-loan basis and are charged off to the extent principal is deemed uncollectible. Other consumer and personal loans continue to accrue interest and are typically charged off no later than 120 days past due. In all cases, loans are placed on non-accrual or charged off at an earlier date if collection of principal or interest is considered doubtful. Non-accrual loans and loans past due more than 89 days and still on accrual include both smaller balance homogenous loans that are collectively evaluated for impairment and individually classified impaired loans. All interest accrued but not collected for loans placed on non-accrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Under the cash-basis method, interest income is recorded when the payment is received in cash. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future contractal payments are reasonably assured. Concentration of Credit : The Company grants residential and commercial real estate, construction and land, commercial and industrial, and consumer loans in the State of Florida with primary concentration being the Tampa Bay region. The Company also grants residential real estate and SBA commercial real estate, construction and land, and commercial and industrial loans nationwide. Although the Company’s loan portfolio is diversified, a significant portion of its loans are secured by real estate. The following loan segments have been identified: Residential Real Estate – The Bank originates residential real estate loans for the purchase or refinancing of a mortgage in the Tampa Bay region. These loans are primarily collateralized by owner and non-owner occupied properties located in Tampa Bay and are held at amortized cost in the Company’s loan portfolio. The Bank also originates residential real estate loans nationwide for the purchase or refinancing of a mortgage. These loans are primarily collateralized by owner and non-owner occupied properties located in the area in which they were originated, and these loans are sold into the secondary market. Commercial Real Estate – Commercial real estate loans consist of loans to finance real estate purchases, refinancings, and expansions and improvements to commercial properties. These loans are secured primarily by first liens and may include office buildings, apartments, retail and mixed-use properties, churches, warehouses, and restaurants. Commercial real estate loans are generally larger than residential real estate loans and involve greater credit risk. The repayment of these loans largely depends on the results of operations and management of these properties. Construction and Land – Construction and land loans consist of loans to individuals for the construction of a primary or secondary residence and, in some cases, to real estate investors to acquire and develop land. To the extent construction loans are not made to owner-occupants of single-family homes, they are more vulnerable to changes in economic conditions. Further, the nature of these loans is such that they are more difficult to evaluate and monitor. The risk of loss on a construction loan is dependent largely upon the accuracy of the initial estimate of the property’s value upon completion of the project and the estimated cost, including interest, of the project. Commercial and Industrial – Commercial and industrial loans consist of business loans to small and medium sized businesses in the Tampa Bay region and nationwide SBA loans. Commercial and industrial loans are generally used for working capital purposes or for acquiring equipment, inventory, or furniture. These loans are generally secured by accounts receivable, inventory, and equipment. Commercial and industrial loans are typically made based on the borrower’s ability to make repayment from the cash flow of the borrower’s business, which makes them of higher risk than residential real estate loans, and the collateral securing loans may be difficult to appraise and may fluctuate in value based on the success of the business. Commercial and Industrial - PPP – Commercial and industrial PPP loans consist of all loans originated under the SBA 7(a) loan PPP pursuant to the CARES Act economic relief program and carry a 100% government guarantee. Consumer and Other – Consumer and other loans mainly consist of automobile, revolving credit plans, and other loans. The Bank’s consumer loans may be uncollateralized and rely on the borrower’s income for repayment. Allowance for Loan Losses : The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions, 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. 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 borrower is experiencing financial difficulty and the Company has granted an economic concession to the borrower that it would not otherwise consider are considered TDRs. In these instances, as part of a work-out alternative, the Company will make concessions including the extension of the loan term, a payment moratorium, a reduction in the interest rate, a period of interest-only payments, or a combination thereof. The impact of the TDR modifications and defaults are factored into the allowance for loan losses on a loan-by-loan basis as all TDRs are classified, by definition, as impaired loans. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impaired commercial real estate and commercial and industrial loans are individually evaluated for impairment. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the rate implicit in the original loan agreement or at the fair value of collateral if repayment is expected solely from the collateral. Troubled debt restructurings are individually evaluated for impairment and included in the separately identified impairment disclosures. TDRs are measured at the present value of estimated future 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 lesser of the cost basis or the fair value of the collateral. For TDRs that subsequently default, the Company determines the amount of the allowance on that loan in accordance with the accounting policy for the allowance for loan losses on loans individually identified as impaired. A TDR classification can be removed if the borrower’s financial condition improves such that the borrower is no longer in financial difficulty, the loan has not had any forgiveness of principal or interest, and the loan is subsequently refinanced or restructured at market terms and qualifies as a new loan. Performing loans receiving COVID-19 modifications are not classified as TDRs. For additional discussion regarding loans modified due to COVID-19, see Note 4 . The general component covers performing loans that are collectively evaluated for impairment. Large groups of smaller balance homogenous loans, such as consumer and residential real estate loans, are collectively evaluated for impairment, and accordingly, they are not included in the separately identified impairment disclosures. The general allowance component also includes loans that are not individually identified for impairment evaluation, such as commercial loans that are evaluated but are not considered impaired. The general component is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent one to three years, depending on the segment. The 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 of, and trends in, delinquencies and impaired loans; levels of, and trends in, charge-offs and recoveries; migration of loans to the classification of special mention, substandard, or doubtful; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentration. Premises and Equipment : Land is carried at cost. Premises and equipment are stated at cost, less accumulated depreciation. Buildings and related components are depreciated using the straight-line method with useful lives ranging from 15 to 40 years. Leasehold improvements are amortized using the straight-line method with useful lives ranging from 3 to 10 years based on the lesser of the useful life of the asset or the remaining expected term of the lease. Furniture, fixtures, and equipment are depreciated using the straight-line method with useful lives ranging from 3 to 10 years. SBA Loan Servicing Rights : When the Company sells the guaranteed portion of an SBA loan or a portion of the non-guaranteed portion of an SBA loan, the Company retains the servicing, and a servicing right asset is created. Servicing rights are initially recorded at fair value in gain (loss) on sales of loans. Fair value is based on market prices for comparable servicing contracts, when available or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Servicing rights are evaluated for impairment based upon the fair value of the rights as compared to the carrying amount. Impairment is determined based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported through gain (loss) on sales of loans on the Consolidated Statements of Income. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. There was no valuation allowance recorded on SBA loan servicing rights at December 31, 2021 and December 31, 2020 . Loan servicing income, which is reported on the Consolidated Statement of Income in non-interest income, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal. The amortization of servicing rights is netted against loan servicing fee income. Transfers of Financial Assets : Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, 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 the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Leases : The Company enters into leases in the normal course of business primarily for branch, corporate office, and loan production office locations. The Company’s leases have remaining terms ranging from month-to-month up to 10 years, some of which include renewal or termination options to extend the lease for up to 10 years. The Company’s leases do not include residual value guarantees or covenants. The Company includes lease extension and termination options in the lease terms if, after considering relevant economic factors, it is reasonably certain the Company will exercise the option. In addition, the Company has elected to account for any non-lease components in its real estate leases as part of the associated lease component. The Company has also elected not to recognize leases with original lease terms of 12 months or less (i.e., short-term leases) on the Consolidated Balance Sheets. Leases are classified as operating or finance leases at the lease commencement date; however, the Company has not entered into any finance leases. Lease expense for operating leases and short-term leases is recognized on a straight-line basis over the lease term. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Right-of-use assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company uses its incremental borrowing rate at lease commencement to calculate the present value of lease payments when the rate implicit in a lease is not known. The Company’s incremental borrowing rate is based on the FHLB amortizing advance rate, adjusted for the lease term and other factors. Bank Owned Life Insurance : The Company, through the Bank, has purchased life insurance policies on certain key officers. BOLI is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Other Real Estate Owned : OREO is initially recorded at fair value less 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 a similar legal agreement. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating costs after acquisition are also expensed. Loan Commitments and Related Financial Instruments : 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. Mortgage Banking Derivatives : In connection with the origination of mortgage loans intended for sale, the Bank enters into loan commitments for fixed rate mortgage loans, generally lasting 30 to 45 days and at market rates when initiated. Commitments to fund mortgage loans (i.e., interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free-standing derivatives. The fair value of the interest rate lock is recorded at the time the commitment to fund the mortgage loan is executed and is adjusted for the expected exercise of the commitment before the loan is funded. To deliver loans to the secondary market and to moderate its interest rate risk prior to sale, the Bank typically enters into non-exchange traded mandatory delivery forward sales contracts and best efforts forward sales contracts, which are also considered derivative instruments. These contracts are entered into for amounts and terms offsetting the interest rate risk of loan commitment derivatives and loans held for sale, and both are carried at their fair value with changes included in earnings. The Bank considers the best efforts forward sales contracts that meet the net settlement requirement to be derivatives, as there are penalties to the Bank if it does not deliver the loan to the investor once the loan closes with the borrower. Stock-Based Compensation : Compensation cost is recognized for stock options and restricted stock awards issued to employees, based on the fair value of these awards at the date of grant. A Black-Scholes model is used to estimate the fair value of stock options, while market price of the Company’s common stock at the date of grant is used for restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. The Company’s accounting policy is to recognize forfeitures as a reversal of compensation cost expenses in the period that they occur. Advertising : Advertising costs are expensed as incurred. These costs are included in marketing and business development expense in the Consolidated Statements of Income. 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 the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. There was no valuation allowance recognized at December 31, 2021 and December 31, 2020 . A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Employee 401(k) Plan : The Company has a 401(k) plan that covers all employees subject to certain age and service requirements. The Company contributes 3% of eligible employees’ salary each pay period as a safe harbor contribution. The Company may also match employee contributions each year at the discretion of the Board of Directors. Employee 401(k) expense is the amount of safe harbor and employee matching contributions to the 401(k) plan. Non-Qualified Stock Purchase Plan : Under the NSPP, all employees and Directors are eligible to participate in the plan. Employees may purchase available shares of common stock with post-tax dollars as of the grant date at a 10% discount to the price of shares offered under the DRIP, as determined by the Board of Directors, with limitations on deductions from employees’ income. Directors may purchase available shares of common stock with post-tax dollars as of the grant date at the price of shares offered under the DRIP, with no minimum deduction and a maximum deduction of the Directors’ board fees. NSPP compensation expense is recorded based on the 10% discount offered to employees and the number of shares purchased by employees. Employee Stock Ownership Plan : The Company has an ESOP for eligible employees. The amount of profit-sharing contributions to the ESOP is approved by the Board of Directors, and the Company purchases shares of the Company’s common stock based on the amount of approved contributions. Profit-sharing expense is the amount of contributions to the ESOP. Preferred Stock : The Company has issued cumulative nonconvertible Series A shares of preferred stock, on which it pays cash dividends at a rate of 9% (unless we have not redeemed the shares by the tenth anniversary of their issuance, in which event the rate is subject to be increased to 11%). The Company has also issued cumulative convertible

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investment Securities	INVESTMENT SECURITIES The amortized costs, gross unrealized gains and losses, and estimated fair values of investment securities available for sale at December 31, 2021 are summarized as follows: Amortized Gross Gross Fair Investment securities available for sale: Asset-backed securities $ 7,624 $ — $ (89) $ 7,535 Mortgage-backed securities: U.S. Government-sponsored enterprises 4,470 — (76) 4,394 Collateralized mortgage obligations: U.S. Government-sponsored enterprises 19,370 — (406) 18,964 Total investment securities available for sale $ 31,464 $ — $ (571) $ 30,893 As of December 31, 2021, the Company's investment portfolio consisted of 9 securities, all of which were in an unrealized loss position. The investment securities available for sale were purchased during the year ended December 31, 2021 and, therefore, had been in an unrealized loss position for less than 12 months at December 31, 2021.The Company expects full recovery of the carrying amount of these securities and does not intend to sell the securities in an unrealized loss position nor does it believe it will be required to sell securities in an unrealized loss position before the value is recovered. The Company does not consider these securities to be other-than-temporarily impaired at December 31, 2021. The Company had one security held to maturity at December 31, 2021 and December 31, 2020, which matures in August 2039. The security is a debt security to a government-sponsored enterprise and its amortized cost was $2 and $41, the unrecognized loss was $0 and $2, and the fair value was $2 and $39 at December 31, 2021 and December 31, 2020, respectively. The security held to maturity had been in an unrealized loss position for over 12 months at December 31, 2021 and December 31, 2020. The unrealized loss has not been recognized into income because the issuer is of high credit quality as a government-sponsored enterprise, management does not intend to sell and it is likely that management will not be required to sell the security prior to its anticipated recovery, and the decline in fair value is largely due to changes in interest rates and other market conditions. The issuer continues to make timely principal and interest payments and the fair value is expected to recover as the bond approaches maturity. No securities were pledged as of December 31, 2021 or December 31, 2020, and there were no sales of investment securities during the year ended December 31, 2021 or December 31, 2020.

Loans

Loans	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Loans	LOANS Loans held for investment, at amortized cost, at December 31, 2021 and December 31, 2020 were as follows: December 31, December 31, Real estate: Residential $ 87,235 $ 64,724 Commercial 163,477 114,884 Construction and land 18,632 15,113 Commercial and industrial 217,155 193,927 Commercial and industrial - PPP 80,158 838,847 Consumer and other 3,581 2,896 Loans held for investment, at amortized cost, gross 570,238 1,230,391 Deferred loan costs (fees), net 7,975 (5,819) Discount on SBA 7(a) loans sold (1) (3,866) (5,417) Discount on PPP loans purchased (13) (97) Allowance for loan losses (13,452) (21,162) Loans held for investment, at amortized cost $ 560,882 $ 1,197,896 (1) The Company allocates the retained portion of loans sold based on relative fair value of the retained portion and the sold portion, which results in a discount on the retained portion. Commercial and industrial – PPP which consists of loans originated under the CARES Act’s economic relief program and carry a 100% government guarantee. During the year ended December 31, 2021, the Company originated $329,315 and sold $326,318 in PPP loans. During the year ended December 31, 2020, the Company originated $876,603 and purchased $22,404 in PPP loans. The sale of the PPP loans resulted in a $13,817 gain from the sale in the second quarter of 2021.

Allowance for Loan Losses

Allowance for Loan Losses	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Allowance for Loan Losses	ALLOWANCE FOR LOAN LOSSES The following schedule presents the activity in the allowance for loan losses by loan segment for the year ended December 31, 2021 and 2020: Year Ended 2021 2020 Balance, beginning of period $ 21,162 $ 10,742 Charge-offs: Real estate - residential — (7) Real estate - commercial (169) (427) Commercial and industrial (4,919) (6,336) Consumer and other (70) (98) Total charge-offs (5,158) (6,868) Recoveries: Real estate - commercial 78 — Commercial and industrial 863 311 Consumer and other 7 77 Total recoveries 948 388 Net (charge-offs) recoveries (4,210) (6,480) Provision for loan losses (3,500) 16,900 Balance, end of period $ 13,452 $ 21,162 Net charge-offs (recoveries) to total average loans held for investment 0.44 % 0.70 % The following table presents the balance in the allowance for loan losses and the recorded investment in loans by loan segment and based on impairment method at December 31, 2021. The government guaranteed loan balances are included in the collectively evaluated for impairment balances. Real Estate- Real Estate- Real Estate - Commercial Commercial Consumer Unallocated Total Allowance for loan losses: Individually evaluated for impairment $ — $ 91 $ — $ 902 $ — $ — $ — $ 993 Collectively evaluated for impairment 1,437 2,258 241 8,300 — 154 69 12,459 Total $ 1,437 $ 2,349 $ 241 $ 9,202 $ — $ 154 $ 69 $ 13,452 Loans: Individually evaluated for impairment $ 124 $ 2,900 $ — $ 902 $ — $ — $ — $ 3,926 Collectively evaluated for impairment 87,111 160,577 18,632 216,253 80,158 3,581 — 566,312 Total $ 87,235 $ 163,477 $ 18,632 $ 217,155 $ 80,158 $ 3,581 $ — $ 570,238 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by loan segment and based on impairment method at December 31, 2020. The government guaranteed loan balances are included in the collectively evaluated for impairment balances. Real Estate- Real Estate- Real Estate - Commercial Commercial Consumer Unallocated Total Allowance for loan losses: Individually evaluated for impairment $ — $ 162 $ — $ 948 $ — $ — $ — $ 1,110 Collectively evaluated for impairment 2,088 2,737 310 14,470 — 252 195 20,052 Total $ 2,088 $ 2,899 $ 310 $ 15,418 $ — $ 252 $ 195 $ 21,162 Loans: Individually evaluated for impairment $ — $ 2,348 $ — $ 948 $ — $ — $ — $ 3,296 Collectively evaluated for impairment 64,724 112,536 15,113 192,979 838,847 2,896 — 1,227,095 Total $ 64,724 $ 114,884 $ 15,113 $ 193,927 $ 838,847 $ 2,896 $ — $ 1,230,391 The following table presents information related to impaired loans by loan segment at and for the year ended December 31, 2021: Unpaid Recorded Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Interest Recognized With no related allowance recorded: Real estate - residential $ 124 $ 124 $ — $ 31 $ — $ — Real estate - commercial 2,763 2,763 — 2,353 8 8 Real estate - construction and land — — — — — — Commercial and industrial — — — — — — Consumer and other — — — — — — Subtotal 2,887 2,887 — 2,384 8 8 With an allowance recorded: Real estate - residential — — — — — — Real estate - commercial 137 137 91 360 — — Real estate - construction and land — — — — — — Commercial and industrial 902 902 902 874 — — Consumer and other — — — — — — Subtotal 1,039 1,039 993 1,234 — — Total $ 3,926 $ 3,926 $ 993 $ 3,618 $ 8 $ 8 The following table presents information related to impaired loans by loan segment at and for the year ended December 31, 2020: Unpaid Recorded Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Interest Recognized With no related allowance recorded: Real estate - residential $ — $ — $ — $ 23 $ — $ — Real estate - commercial 1,699 1,272 — 946 48 36 Real estate - construction and land — — — — — — Commercial and industrial — — — 46 — — Consumer and other — — — — — — Subtotal 1,699 1,272 — 1,015 48 36 With an allowance recorded: Real estate - residential — — — — — — Real estate - commercial 1,076 1,076 162 1,085 — — Real estate - construction and land — — — — — — Commercial and industrial 948 948 948 2,008 — — Consumer and other — — — — — — Subtotal 2,024 2,024 1,110 3,093 — — Total $ 3,723 $ 3,296 $ 1,110 $ 4,108 $ 48 $ 36 The unpaid principal balance represents the outstanding contractual balance. For purposes of the impaired loans by loan segment tables above, the unpaid principal balance and recorded investment do not include the government guaranteed balance. The government guaranteed balances of impaired loans at December 31, 2021 and December 31, 2020 were $6,197 and $6,259, respectively. Nonaccrual loans and loans past due over 89 days still on accrual include both smaller balance homogenous loans that are collectively evaluated for impairment and individually classified impaired loans. The unguaranteed portions of government guaranteed loans that are under $100,000 are reserved in full. Impaired loans include commercial loans that are individually evaluated for impairment and deemed impaired as well as TDR for all loan portfolio segments. The sum of nonaccrual loans and loans past due over 89 days still on accrual will differ from the total impaired loan amount. The following tables present the recorded investment in nonaccrual and loans past due over 89 days still on accrual by loan segment at December 31, 2021 and December 31, 2020. In the following table, the recorded investment does not include the government guaranteed balance. Nonaccrual Loans Past Due Over December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Real estate - residential $ 124 $ — $ 126 $ 573 Real estate - commercial 2,815 1,806 — — Commercial and industrial 902 948 — — Total $ 3,841 $ 2,754 $ 126 $ 573 The following table presents the aging of the recorded investment in past due loans at December 31, 2021 by loan segment: 30-89 Days Greater Than Total Past Due Loans Not Past Due (1) Total Loans Real estate - residential $ 57 $ 250 $ 307 $ 86,928 $ 87,235 Real estate - commercial 192 1,778 1,970 161,507 163,477 Real estate - construction and land — — — 18,632 18,632 Commercial and industrial 991 424 1,415 215,740 217,155 Commercial and industrial - PPP — — — 80,158 80,158 Consumer and other — — — 3,581 3,581 Total $ 1,240 $ 2,452 $ 3,692 $ 566,546 $ 570,238 (1) For the purposes of the table above, $10,360 of balances 30-89 days past due and $2,807 of balances greater than 89 days past due are reported as Loans Not Past Due as a result of the government guaranty, $11,089 of commercial and industrial PPP loans are primarily due to delinquencies from borrowers with only a PPP loan and no other First Home Bank product. These borrowers were non-responsive to requests for forgiveness applications and payments, and applications were subsequently submitted to the SBA for their 100% guarantee purchase from the Bank. The following table presents the aging of the recorded investment in past due loans at December 31, 2020 by loan segment: 30-89 Days Greater Than Total Past Due Loans Not Past Due (1) Total Loans Real estate - residential $ 654 $ 573 $ 1,227 $ 63,497 $ 64,724 Real estate - commercial 954 1,743 2,697 112,187 114,884 Real estate - construction and land — — — 15,113 15,113 Commercial and industrial 1,613 — 1,613 192,314 193,927 Commercial and industrial - PPP — — — 838,847 838,847 Consumer and other 4 — 4 2,892 2,896 Total $ 3,225 $ 2,316 $ 5,541 $ 1,224,850 $ 1,230,391 (1) For the purposes of the table above, $252 of balances 30-89 days past due and $5,023 of balances greater than 89 days past due are reported as Loans Not Past Due as a result of the government guaranty. Credit Quality Indicators Internal risk-rating grades are assigned to loans by lending, credit administration or loan review personnel, based on an analysis of the financial and collateral strength and other credit attributes underlying each loan. Management analyzes the resulting ratings, as well as other statistics and factors such as delinquency, to track the migration performance of the portfolio balances. This analysis is performed at least annually. The Bank uses the following definitions for its risk ratings: Pass – Loans properly approved, documented, collateralized, and performing which do not reflect an abnormal credit risk. Special Mention – These credits constitute an undue and unwarranted credit risk, but not to a point of justifying a classification of “Substandard”. They have weaknesses that, if not checked or corrected, weaken the asset or inadequately protect the Bank. Substandard – These loans 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 Bank will sustain some loss if the deficiencies are not corrected. Doubtful – These loans have all the weaknesses inherent in those classified as Substandard with the added characteristic that the weaknesses make collection or repayment in full, on the basis of currently known facts, conditions, and values, highly questionable and improbable. The table below sets forth credit exposure for the loan portfolio disaggregated by loan segment based on internally assigned risk ratings at December 31, 2021: Pass Special Substandard Doubtful Total Loans Real estate - residential $ 87,233 $ — $ 2 $ — $ 87,235 Real estate - commercial 160,492 170 2,815 — 163,477 Real estate - construction and land 18,632 — — — 18,632 Commercial and industrial 212,544 1,850 2,761 — 217,155 Commercial and industrial - PPP 80,158 — — — 80,158 Consumer and other 3,581 — — — 3,581 Loans held for investment, at amortized cost $ 562,640 $ 2,020 $ 5,578 $ — $ 570,238 The table below sets forth credit exposure for the loan portfolio disaggregated by loan segment based on internally assigned risk ratings at December 31, 2020: Pass Special Substandard Doubtful Total Loans Real estate - residential $ 64,593 $ — $ 131 $ — $ 64,724 Real estate - commercial 112,260 431 2,193 — 114,884 Real estate - construction and land 15,113 — — — 15,113 Commercial and industrial 186,781 5,177 1,896 73 193,927 Commercial and industrial - PPP 838,847 — — — 838,847 Consumer and other 2,896 — — — 2,896 Loans held for investment, at amortized cost $ 1,220,490 $ 5,608 $ 4,220 $ 73 $ 1,230,391 Troubled Debt Restructurings The following table presents loans classified as TDR at December 31, 2021 and December 31, 2020: December 31, 2021 December 31, 2020 Accruing Nonaccruing Accruing Nonaccruing Real estate - commercial $ 85 $ 1,116 $ 542 $ 666 The Company had not committed to lend any additional amounts to the loans classified as TDR at December 31, 2021 and December 31, 2020. The Company estimated $38 and $0 of impaired loan loss reserves for these loans at December 31, 2021 and December 31, 2020, respectively. There were no loans which were modified in the previous twelve months that defaulted during the year ended December 31, 2021. There were no new loans classified as TDR during the year ended December 31, 2021. The CARES Act signed into law on March 27, 2020, permits financial institutions to suspend requirements under GAAP for loan modifications to borrowers affected by COVID-19 that would otherwise be characterized as TDR and suspend any determination related thereto if (i) the loan modification is made between March 1, 2020 and the earlier of December 31, 2020 or 60 days after the end of the coronavirus emergency declaration and (ii) the applicable loan was not more than 30 days past due as of December 31, 2019. The CAA signed into law on December 27, 2020, extends the applicable period to include modifications to loans held by financial institutions executed between March 1, 2020 and the earlier of (i) January 1, 2022 or (ii) 60 days after the date of the termination of the COVID-19 national emergency. In addition, federal bank regulatory authorities have issued guidance to encourage financial institutions to make loan modifications for borrowers affected by COVID-19 and have assured financial institutions that they will neither receive supervisory criticism for such prudent loan modifications, nor be required by examiners to automatically categorize COVID-19-related loan modifications as TDR. The Company is applying this guidance to qualifying loan modifications. Loan modifications related to COVID-19 at December 31, 2021 and December 31, 2020 are presented in the table below: December 31, 2021 December 31, 2020 Number of Outstanding Number of Loans Outstanding Recorded Investment Real estate - residential 1 $ 258 11 $ 7,106 Real estate - commercial — — 4 1,849 Real estate - construction and land — — 2 1,424 Commercial and industrial 23 1,113 220 9,624 Total loan modifications related to COVID-19 24 $ 1,371 237 $ 20,003

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value	FAIR VALUE Fair value is the exchange price that would be received for an asset or paid to transfer a liability (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. There are three levels of inputs that may be used to measure fair values: Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access at the measurement date. Level 2 – Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and 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. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following is a description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy. Investment Securities Available for Sale : The fair values of investment securities available for sale are determined by matrix pricing, which is a mathematical technique used to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2). Management obtains the fair values of securities available for sale on a monthly basis from a third party pricing service. Residential Loans Held for Sale : The Company has elected to account for residential loans held for sale at fair value. The fair value of loans held for sale is determined using either actual quoted prices for the assets (Level 1) whenever possible or quoted prices for similar assets, adjusted for specific attributes of that loan (Level 2). The gain (loss) on loans held for sale is included in residential fee income in the Consolidated Statements of Income. SBA Loans Held for Investment, at Fair Value : The Company has elected to account for certain SBA loans held for investment at fair value. Fair value is calculated based on the present value of estimated future payments (Level 3). The valuation model uses interest rate, prepayment speed, and default rate assumptions that market participants would use in estimating future payments. Whenever available, the present value is validated against available market data. Mortgage Banking Derivatives : Mortgage banking derivatives used in the ordinary course of business primarily consist of mandatory forward sales contracts, best efforts forward sales contracts, and interest rate lock commitments. The fair value of mandatory forward sales contracts is measured using quoted market prices (Level 1), or in some cases when quoted market prices are not available, the pricing is derived from market observable inputs that can generally be verified and do not typically involve significant judgment by the Company (Level 2). Interest rate lock commitments involve pricing derived from market observable inputs that are adjusted based on pull-through rates. Pull-through rates are an unobservable input which are the Company’s estimate of the percentage of interest rate lock commitments expected to result in closed loans (Level 3). The fair value of best efforts forward sales contracts is measured using market observable inputs that are adjusted using unobservable inputs including duration, spread, and pull-through rates (Level 3). Impaired Loans : A loan is considered to be impaired when it is probable the Bank will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. In most cases, the Bank measures fair value based on the value of the collateral securing the loan. Collateral may be in the form of real estate and/or business or personal assets, including but not limited to equipment, inventory, and accounts receivable. The fair value of real estate collateral is determined based on third party appraisals by qualified licensed appraisers as well as internal estimates. The fair value of other business or personal assets is generally based on amounts reported on the financial statements of the customer or customer’s business. Appraised and reported values may be adjusted based on management’s historical knowledge, changes in market conditions from the time of valuation and management’s knowledge of the customer and the customer’s business. Since not all valuation inputs are observable, these nonrecurring fair value determinations are classified as Level 3. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on the same factors previously identified. SBA Loan Servicing Rights : On a quarterly basis, SBA loan servicing rights are evaluated for impairment based upon the fair value of the rights as compared to the carrying amount. If the carrying amount exceeds fair value, impairment is recorded so that the servicing asset is carried at fair value. The fair value of SBA servicing rights is based on a valuation model that calculates the present value of estimated net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income. There were no SBA loan servicing rights carried at fair value at December 31, 2021 and December 31, 2020. Assets and liabilities measured at fair value on a recurring basis at December 31, 2021 are summarized below: Quoted Prices in Significant Significant Unobservable Inputs (Level 3) Total Financial assets Investment securities available for sale $ — $ 30,893 $ — $ 30,893 Residential loans held for sale 43,837 70,294 — 114,131 SBA loans held for investment, at fair value — — 9,614 9,614 Interest rate lock commitments — — 1,435 1,435 Mandatory forward sales contracts 88 — — 88 Best efforts forward sales contracts — — 27 27 Financial liabilities Interest rate lock commitments $ — $ — $ 23 $ 23 Mandatory forward sales contracts 166 — — 166 Assets and liabilities measured at fair value on a recurring basis at December 31, 2020 are summarized below: Quoted Prices in Significant Significant Unobservable Inputs (Level 3) Total Financial assets Residential loans held for sale $ 21,888 $ 186,816 $ — $ 208,704 SBA loans held for investment, at fair value — — 9,264 9,264 Interest rate lock commitments — — 7,565 7,565 Best efforts forward sales contracts — — 55 55 Financial liabilities Interest rate lock commitments $ — $ — $ 12 $ 12 Mandatory forward sales contracts 4,455 — — 4,455 There were no transfers between levels for assets and liabilities recorded at fair value on a recurring basis during the reported periods. Financial Instruments Recorded Using Fair Value Option The Company has elected the fair value option for residential loans held for sale. These loans are intended for sale and the Company believes that the fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual term of the loan and in accordance with the Company’s policy on loans held for investment. None of these loans are 90 days or more past due or on nonaccrual at December 31, 2021 and December 31, 2020. The aggregate fair value, contractual balance, and gain at December 31, 2021 and December 31, 2020 for residential loans held for sale were as follows: December 31, 2021 December 31, 2020 Aggregate fair value $ 114,131 $ 208,704 Contractual balance 110,335 199,974 Gain $ 3,796 $ 8,730 The total amount of gains and losses from changes in fair value and interest income included in earnings for the years ended December 31, 2021 and 2020 for residential loans held for sale were as follows: Year Ended December 31, 2021 2020 Interest income $ 3,717 $ 2,684 Change in fair value (4,934) 6,049 Total gain (loss) $ (1,217) $ 8,733 The Company also elected the fair value option for certain of its non-PPP SBA loans originated and fully funded during the year ended December 31, 2018 as the Company believed that fair value was the best indicator of the resolution of those loans at that time. Depending on market conditions and liquidity needs of the Company, management determines whether it is advantageous to hold or sell SBA loans on a loan-by-loan basis. The portion of these loans guaranteed by the SBA are generally readily marketable in the secondary market and the portion of the loans that are not guaranteed may be sold periodically to other third party financial institutions. Interest income on these loans is recorded based on the contractual term of the loan and in accordance with the Company’s policy on other loans held for investment. The aggregate fair value, contractual balance, and gain (loss) at December 31, 2021 and December 31, 2020 for SBA loans held for investment, at fair value, were as follows: December 31, 2021 December 31, 2020 Aggregate fair value $ 9,614 $ 9,264 Contractual balance 9,429 9,263 Gain (loss) $ 185 $ 1 The total amount of gains and losses from changes in fair value and interest income included in earnings for the years ended December 31, 2021 and 2020 for SBA loans held for investment, at fair value, were as follows: Year Ended December 31, 2021 2020 Interest income $ 559 $ 725 Change in fair value 184 1 Total gain $ 743 $ 726 Changes in fair value for SBA loans held for investment, at fair value, were included in SBA fair value gain (loss) on the Consolidated Statements of Income. The table below presents a reconciliation of SBA loans held for investment, at fair value, which were valued on a recurring basis and used significant unobservable inputs (Level 3) for the years ended December 31, 2021 and 2020: Year Ended December 31, 2021 2020 Balance of SBA loans held for investment at fair value, beginning of period $ 9,264 $ 10,341 Principal payments (1,227) (741) Charge-offs (8) (97) SBA repurchase of guaranteed balances — (240) Repurchase of guaranteed balances previously participated 1,401 — Total gains during the period 184 1 Balance of SBA loans held for investment at fair value, end of period $ 9,614 $ 9,264 The Company’s valuation of SBA loans held for investment, at fair value, was supported by an analysis prepared by an independent third party and approved by management. The approach to determine fair value involved several steps: 1) Identifying each loan’s unique characteristics, including balance, payment type, term, coupon, age, and principal and interest payment; 2) Projecting these loan level characteristics for the life of each loan; and 3) Performing discounted cash flow modeling. The following table provides information about the valuation techniques and unobservable inputs used in the valuation of SBA loans held for investment, at fair value, interest rate lock commitments, best efforts forward sales contracts falling within Level 3 of the fair value hierarchy at December 31, 2021 and December 31, 2020: Fair Value Valuation Unobservable Inputs Range (Weighted Average) December 31, 2021 SBA loans held for $ 9,614 Discounted Discount Rate 3.22%-6.72% (4.22%) investment, at fair value Cash Flow Conditional Prepayment Rate 10.56%-10.56% (10.56%) Interest rate lock commitments 1,412 Quoted market prices Pull-through expectations 24.00%-100.00% (84.40%) Best efforts forward sales contracts 27 Quoted market prices Pull-through expectations 24.00%-80.00% (65.79%) December 31, 2020 SBA loans held for $ 9,264 Discounted Discount Rate 3.24%-6.74% (4.37%) investment, at fair value Cash Flow Conditional Prepayment Rate 10.53%-10.56% (10.55%) Interest rate lock commitments 7,553 Quoted market prices Pull-through expectations 52.50%-100.00% (81.63%) Best efforts forward sales contracts 55 Quoted market prices Pull-through expectations 52.50%-80.00% (73.37%) The significant unobservable inputs impacting the fair value measurement of SBA loans held for investment, at fair value, include discount rates and conditional prepayment rates. Increases in discount rates or prepayment rates would result in a lower fair value measurement. Although the prepayment rate and discount rate are not directly interrelated, they generally move in opposite directions. The discount rates and conditional prepayment rates were weighted by the relative principal balance outstanding of these loans. The significant unobservable inputs impacting the fair value measurement of interest rate lock commitments and best efforts sales contracts include pull-through rate. An increase in the pull-through rate utilized in the fair value measurement of the interest rate lock commitments and best efforts forward sale contracts will result in positive fair value adjustments (and an increase in the fair value measurement). Conversely, a decrease in the pull-through rate will result in a negative fair value adjustment (and a decrease in the fair value measurement). Assets measured at fair value on a nonrecurring basis at December 31, 2021 are summarized below: Fair Value Valuation Technique(s) Significant Discount % Range/Amount Impaired loans $ 1,614 Discount appraisals, estimated net realizable value of collateral Collateral discounts 10% Assets measured at fair value on a nonrecurring basis at December 31, 2020 are summarized below: Fair Value Valuation Technique(s) Significant Discount % Range/Amount Impaired loans $ 1,583 Discount appraisals, estimated net realizable value of collateral Collateral discounts 20-75% Fair Value of Financial Instruments The carrying values and estimated fair values of financial instruments not carried at fair value, at December 31, 2021 and December 31, 2020 are as follows: December 31, 2021 December 31, 2020 Level Carrying Value Fair Value Carrying Value Fair Value Assets: Cash and cash equivalents 1 $ 109,727 $ 109,727 $ 55,379 $ 55,379 Time deposits in banks 2 2,381 2,437 2,381 2,521 Investment securities held to maturity 2 2 2 41 39 Restricted equity securities, at cost 2 2,827 2,827 2,362 2,362 Government guaranteed loans held for sale 2 1,460 1,460 — — Loans held for investment, at amortized cost 3 560,882 569,394 1,197,896 1,213,967 Accrued interest receivable 3 3,564 3,564 7,300 7,300 SBA loan servicing rights 3 6,407 8,050 8,160 9,709 Mortgage loan servicing rights 3 212 212 — — Liabilities: Noninterest-bearing deposits 2 $ 83,638 $ 83,638 $ 62,650 $ 62,650 Interest-bearing transaction accounts 2 163,495 163,495 140,265 140,265 Savings and money market deposits 2 423,864 423,864 286,744 286,744 Time deposits 2 50,688 51,049 69,125 69,743 Subordinated debentures 2 5,985 6,175 5,948 6,516 Notes payable 2 3,299 3,350 3,754 3,754 PPP Liquidity Facility 2 69,654 69,654 881,262 881,262 Accrued interest payable 2 326 326 1,999 1,999

SBA Loan Servicing Activities

SBA Loan Servicing Activities	12 Months Ended
	Dec. 31, 2021
Transfers and Servicing [Abstract]
SBA Loan Servicing Activities	SBA LOAN SERVICING ACTIVITIES At December 31, 2021 and December 31, 2020, the principal balance of SBA loans, excluding PPP loans, retained by the Company was $300,415 and $253,330, respectively, of which $171,548 and $110,196 represented the guaranteed portion of the loans. Loans serviced for others are not included in the accompanying Consolidated Balance Sheets. The unpaid principal balances of SBA loans serviced for others requiring recognition of a servicing asset were $459,670 and $524,910 at December 31, 2021 and December 31, 2020, respectively. Activity for SBA loan servicing rights for the year ended December 31, 2021 and 2020 follows: Year Ended December 31, 2021 December 31, 2020 Beginning of period $ 8,160 $ 11,280 Additions 1,229 530 Amortization (2,982) (3,650) End of period $ 6,407 $ 8,160 The fair value of SBA loan servicing rights was $8,050 and $9,709 at December 31, 2021 and December 31, 2020, respectively. Fair value was determined using a weighted average discount rate of 12.13% and a weighted average prepayment speed of 10.37% at December 31, 2021. Fair value was determined using a weighted average discount rate of 11.75% and a weighted average prepayment speed of 10.34% at December 31, 2020. The SBA loan servicing rights are amortized over the life of a loan on a loan-by-loan basis. The following table presents the components of net gain (loss) on sale of SBA loans, excluding sale of PPP loans, for the years ended December 31, 2021 and December 31, 2020: Year Ended December 31, 2021 December 31, 2020 Gain on sale of guaranteed SBA loans $ 3,435 $ 2,087 Loss on sale of unguaranteed SBA loans (406) (70) Costs recognized on sale of SBA loans (51) (895) Fair value of servicing rights created 1,229 530 Gain on sale of SBA loans, net $ 4,207 $ 1,652 The Company also sold PPP loans, servicing released, for a net gain of $13,817 for the year ended December 31, 2021.

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Premises and Equipment	PREMISES AND EQUIPMENT Premises and equipment at December 31, 2021 and 2020 were as follows: 2021 2020 Land and improvements $ 4,194 $ 3,543 Building and improvements 9,590 6,853 Leasehold improvements 2,433 1,972 Furniture, fixtures, and equipment 7,034 6,048 Fixed assets in process 12,247 4,417 Total premises and equipment 35,498 22,833 Accumulated depreciation and amortization (5,827) (4,718) Net premises and equipment $ 29,671 $ 18,115 Depreciation and amortization expense was $1,741 and $1,411 for the years ended December 31, 2021 and December 31, 2020 .

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	LEASES Lease Expense For the year ended December 31, 2021 and December 31, 2020, the components of total lease cost and supplemental information related to operating leases were as follows: Year Ended 2021 2020 Operating lease cost $ 1,456 $ 1,210 Short-term lease cost 694 670 Total lease cost, net $ 2,150 $ 1,880 Year Ended 2021 2020 Operating cash flows related to operating leases $ 1,440 $ 1,123 Right-of-use assets obtained in exchange for new operating lease liabilities 543 2,000 $ 1,983 $ 3,123 At December 31, 2021, the weighted average discount rate of operating leases was 2.03% and the weighted average remaining life of operating leases was 4.27 years. Lease Obligations The future minimum lease payments for operating leases, subsequent to December 31, 2021, as recorded on the balance sheet, are summarized as follows: 2022 $ 1,455 2023 1,162 2024 1,087 2025 685 2026 593 Thereafter 301 Total undiscounted lease payments $ 5,283 Less: imputed interest (536) Net lease liabilities $ 4,747

Other Borrowings

Other Borrowings	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Other Borrowings	OTHER BORROWINGS In June 2021 , the Company issued $6,000 of Subordinated Debentures (the “Debentures”) that mature June 30, 2031 and are redeemable after 5 years. The Debentures carry interest at a fixed rate of 4.50% per annum for the initial five years of term and carry interest at a floating rate for the final 5 years of term. Under the debt agreements, the floating rates are based on a SOFR benchmark plus 3.78% per annum. These Debentures were issued to redeem a $6,000 Subordinated Debenture which was issued in December 2018 and which carried interest at a rate of 6.875% per annum.The balance of Subordinated Debentures outstanding at the Company, net of offering costs, amounted to $5,985 and $5,948 at December 31, 2021 and December 31, 2020, respectively. In March 2020, the Company renegotiated the terms of its outstanding senior debt and combined its line of credit and term note into one amortizing note with quarterly principal and interest payments with interest at Prime (3.25% at December 31, 2021). The new note matures on March 10, 2029 and the balance of the note was $3,299 and $3,754 at December 31, 2021 and December 31, 2020, respectively. The note is secured by 100% of the stock of the Bank and requires the Company to comply with certain loan covenants during the term of the note. As of December 31, 2021, the Company was in compliance with all debt covenants.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock- Based Compensation	STOCK-BASED COMPENSATION The Equity Plan governs the Company’s restricted stock and stock options. Total compensation cost that was charged against income related to the Equity Plan was $461 and $397 for the years ended December 31, 2021 and 2020, respectively. Restricted Stock During the fourth quarter of 2020 and the first quarter of 2021, the Company awarded a total of 22,716 shares of restricted stock to Executive Officers representing a portion of their bonuses which vested immediately. Prior to 2019, the Company awarded shares of restricted common stock to certain officers for which compensation expense is recognized ratably over the five-year vesting period of the awards based on the fair value of the stock at issue date. A summary of changes in the Company’s nonvested restricted shares for the year ended December 31, 2021 follows: Shares Weighted-Average Nonvested at January 1, 2021 4,130 $ 14.63 Granted 4,008 13.33 Vested (5,655) 13.61 Forfeited — — Nonvested at December 31, 2021 2,483 $ 14.86 At December 31, 2021 there was $14 of total unrecognized compensation cost related to nonvested restricted shares granted under the Equity Plan that is expected to be recognized over a weighted average period of 0.6 years. The total fair value of shares vested during the years ended December 31, 2021 and 2020 was $85 and $321, respectively. Stock Options The Equity Plan permits the grant of stock options to the Company’s employees and non-employee directors for up to 15% of the total number of shares of Company common stock issued and outstanding, up to 1,500,000 shares. Option awards are generally granted with an exercise price equal to the market price of the Company’s common stock at the date of grant. The market price of the Company’s common stock is the closing sales price of the Common Stock on such date on the securities exchange having the greatest volume of trading in the Common Stock during the 30-day period preceding the day the value is to be determined or, if there is no reported closing sales price on such date, the next preceding date on which there was a reported closing price. Those option awards generally have a vesting period of 5 years for employees and 3 years for non-employee directors and have 10-year contractual terms. 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 an average of historical volatilities of peer financial institutions. The expected term of options granted represents the period of time that options granted are expected to be outstanding, which takes into account that the options are not transferable. 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 grant. The fair value of options granted during the year ended December 31, 2021 were determined using the following weighted average assumptions as of grant date: December 31, 2021 Risk-free interest rate (%) 0.82 Expected term (years) 7.50 Expected stock price volatility (%) 29.57 Dividend yield (%) 1.82 A summary of the activity in the Equity Plan for the year ended December 31, 2021 follows: Shares Weighted Weighted Aggregate Outstanding at January 1, 2021 332,708 $ 16.01 Granted 127,275 14.67 Exercised — — Forfeited (3,600) 15.13 Expired (5,625) 16.45 Outstanding at December 31, 2021 450,758 $ 15.64 7.71 $ 3,216 Vested and exercisable at December 31, 2021 180,318 $ 16.52 6.96 $ 1,191

Other Benefit Plans

Other Benefit Plans	12 Months Ended
	Dec. 31, 2021
Postemployment Benefits [Abstract]
Other Benefit Plans	OTHER BENEFIT PLANS The Company has established a stock dividend reinvestment and other stock purchase plan. Under the DRIP, eligible shareholders can voluntarily purchase stock with their dividend or can make additional stock purchases. During the year ended December 31, 2021 and 2020, 17,971 and 34,737 shares were purchased at an average price of $21.68 and $14.67, respectively. All employees and Directors are eligible to participate in the NSPP. Expense recognized in relation to the NSPP for the years ended December 31, 2021 and 2020 was $80 and $43, respectively. The Company has a Salary Continuation Agreement, (the “Agreement”), with an executive officer. In accordance with the Agreement, the executive will receive an annual benefit of $25 for twenty years following separation of service. If early termination occurs before December 31, 2022, the executive will not receive any benefit under the Agreement. The liability recorded for the Agreement was $312 and $241 at December 31, 2021 and 2020, respectively, and the related expense for the years ended December 31, 2021 and 2020 was $71 and $82, respectively. The Company has a 401(k) plan that covers all employees subject to certain age and service requirements. The Company contributes 3% of each employee’s salary each pay period as a safe harbor contribution. The Company may also match employee contributions each year at the discretion of the Board of Directors. Expense recognized in relation to the 401(k) plan was $2,487 and $1,978 for the years ended December 31, 2021 and 2020, respectively. In December 2018, the Company approved an ESOP for eligible employees as of January 1, 2018. Each year, the Company’s Board of Directors may approve a discretionary percentage of employees’ salaries to be contributed to the ESOP for eligible employees. The Board approved 1% and 2% of salaries for eligible employees in 2021 and 2020, respectively. Expense related to the ESOP was $490 and $395 for the years ended December 31, 2021 and 2020, respectively. During the year ended December 31, 2021 and 2020, $366 and $260, respectively, was contributed to the ESOP. The Company has contributed 57,620 common shares to the ESOP since its approval in December 2018.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Income tax expense (benefit) for the years ended December 31, 2021 and 2020 was as follows: 2021 2020 Current tax provision: Federal $ 3,852 $ 5,088 State 503 1,693 Total Current tax provision 4,355 6,781 Deferred expense (benefit): Federal 2,727 (2,902) State 778 (804) Total deferred expense (benefit): 3,505 (3,706) Total income tax expense $ 7,860 $ 3,075 The effective tax rate differed from the federal statutory rate of 21% in 2021 and 2020 as follows: 2021 2020 Federal tax based on federal corporate statutory rate $ 6,820 $ 3,313 State tax, net of federal effect 1,012 702 Changes resulting from: CARES Act tax benefit — (968) Other, net 28 28 Total Income tax expense $ 7,860 $ 3,075 Deferred tax assets and liabilities at December 31, 2021 and December 31, 2020 were due to the following: 2021 2020 Deferred tax assets: Allowance for loan losses $ 3,238 $ 5,364 Deferred loan fees 274 3,358 Discount on loans sold 934 1,396 Operating lease liabilities 1,143 995 Accrued bonuses 534 454 Other 962 598 Total gross deferred tax assets 7,085 12,165 Deferred tax liabilities: Mortgage banking fair value adjustments (1,074) (2,861) SBA loan servicing rights (1,542) (2,068) Deferred loan costs (2,193) (1,884) Right-of-use operating lease assets (1,094) (947) Depreciation (693) (597) Other (35) — Total gross deferred tax liabilities (6,631) (8,357) Net deferred tax asset $ 454 $ 3,808 At December 31, 2021 and December 31, 2020 , the Company did not have any federal net operating loss carryforwards. In March 2020, the Company recognized a one-time tax benefit of $968 as a result of the CARES Act, which allowed for carryback of 2018 net operating loss to tax years with higher corporate tax rates. The Company and its subsidiary file a consolidated U.S. Corporation federal income tax return which is subject to examination by taxing authorities for years 2018 and later.There were no unrecognized tax benefits at December 31, 2021, and the Company does not expect the total amount of unrecognized tax benefits to significantly increase in the next twelve months. The Company recognizes interest and/or penalties related to income tax matters in income tax expense when applicable. The Company did not record any interest and penalties for 2021 and 2020.

Regulatory Matters

Regulatory Matters	12 Months Ended
	Dec. 31, 2021
Banking And Thrift Disclsoure [Abstract]
Regulatory Matters	REGULATORY MATTERS 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. Management believes that the Bank met all capital adequacy requirements to which it was subject at December 31, 2021 and December 31, 2020. 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. At December 31, 2021 and December 31, 2020, 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 classification. Actual and required capital amounts and ratios for the Bank are presented below at December 31, 2021: Actual Required for Capital Adequacy Purposes To be Well Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk Weighted Assets) $ 106,002 21.25 % $ 39,909 8.00 % $ 49,886 10.00 % Tier 1 Capital (to Risk Weighted Assets) $ 99,656 19.98 % $ 29,932 6.00 % $ 39,909 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) $ 99,656 19.98 % $ 22,449 4.50 % $ 32,426 6.50 % Tier 1 Capital (to Average Assets) $ 99,656 12.22 % $ 32,619 4.00 % $ 40,774 5.00 % Actual and required capital amounts and ratios for the Bank are presented below at December 31, 2020: Actual Required for Capital Adequacy Purposes To be Well Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk Weighted Assets) $ 78,824 17.02 % $ 37,056 8.00 % $ 46,320 10.00 % Tier 1 Capital (to Risk Weighted Assets) $ 72,825 15.72 % $ 27,792 6.00 % $ 37,056 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) $ 72,825 15.72 % $ 20,844 4.50 % $ 30,108 6.50 % Tier 1 Capital (to Average Assets) $ 72,825 11.75 % $ 24,799 4.00 % $ 30,998 5.00 % Dividend Restrictions

Mortgage Banking Activities

Mortgage Banking Activities	12 Months Ended
	Dec. 31, 2021
Mortgage Banking [Abstract]
Mortgage Banking Activities	MORTGAGE BANKING ACTIVITIES The following table presents the components of residential loan fee income for the year ended December 31, 2021 and 2020: Year Ended 2021 2020 Net gain realized on sale of residential loans held for sale $ 89,578 $ 88,336 Net change in fair value recognized on residential loans held for sale (4,934) 6,049 Net change in fair value recognized on interest rate lock commitments (6,194) 6,536 Net change in fair value recognized on mandatory and best efforts forward sales contracts 7,229 (16,940) Mortgage banking fees 9,864 8,697 Residential loan fee income $ 95,543 $ 92,678 As part of its mortgage banking activities, the Company enters into interest rate lock commitments, which are commitments to originate loans where the interest rate on the loan is determined prior to funding and the clients have locked into that interest rate. The Company then locks in the loan and interest rate with an investor and commits to deliver the loan if settlement occurs (“best efforts”) or commits to deliver the locked loan in a binding (“mandatory”) delivery program with an investor. It is the Company’s practice to enter into forward commitments for the future delivery of residential mortgage loans when interest rate lock commitments are entered into in order to economically hedge the effect of changes in interest rates resulting from its commitments to fund the loans. Interest rate lock commitments and mandatory commitments to deliver loans to investors are considered derivatives. At December 31, 2021 and December 31, 2020, the Company had interest rate lock commitments of $108,122 and $398,722, mandatory forwards contracts of $142,500 and $514,000, and forward sales contracts of $7,375 and $19,803, respectively. The fair value of these mortgage banking derivatives was reflected by a total derivative asset of $1,550 and $7,620 and a total derivative liability of $189 and $4,467 at December 31, 2021 and December 31, 2020, respectively. Fair values were estimated based on changes in mortgage interest rates from the date of the commitments. Changes in the fair values of these mortgage banking derivatives are included in residential loan fee income in the Consolidated Statements of Income. The net gains (losses) relating to free-standing derivative instruments used for risk management at December 31, 2021 and December 31, 2020 are summarized below: December 31, 2021 December 31, 2020 Mandatory forward sales contracts $ (78) $ (4,455) Best efforts forward sales contracts 27 55 Interest rate lock commitments 1,412 7,553 The following table reflects the amount and fair value of mortgage banking derivatives included in the Consolidated Balance Sheets at December 31, 2021 and December 31, 2020: December 31, 2021 December 31, 2020 Notional Fair Notional Fair Included in other assets: Interest rate lock commitments $ 103,572 $ 1,435 $ 390,676 $ 7,565 Mandatory forward sales contracts 60,000 88 — — Best efforts forward sales contracts 7,375 27 19,803 55 Included in other liabilities: Interest rate lock commitments 4,550 23 8,046 12 Mandatory forward sales contracts 82,500 166 514,000 4,455

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Loans to principal officers, directors, and their affiliates during 2021 were as follows: 2021 Balance at December 31, 2020 $ 10,028 New loans 347 Repayments (3,061) Balance at December 31, 2021 $ 7,314 Deposits from principal officers, directors, and their affiliates at December 31, 2021 and December 31, 2020 were $7,112 and $5,774. The Company leases a portion of an office building from a related party of the Company. Rent payments related to these leases amounted to $539 and $409 for the years ended December 31, 2021 and 2020.

Loan Commitments and Other Rela

Loan Commitments and Other Related Activities	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Loan Commitments and Other Related Activities	LOAN COMMITMENTS AND OTHER RELATED ACTIVITIES Some financial instruments, such as loan commitments, credit lines, letters of credit, and overdraft protection, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies that are used for loans are used to make such commitments, including obtaining collateral at exercise of the commitment. The contractual amounts of financial instruments with off-balance sheet risk at December 31, 2021 and December 31, 2020 were as follows: December 31, 2021 December 31, 2020 Unfunded loan commitments $ 18,567 $ 34,867 Unused lines of credit 52,076 34,063 Standby letters of credit 68 68 All unused lines of credit at December 31, 2021 and December 31, 2020 were variable rate lines of credit and the majority of unfunded loan commitments at December 31, 2021 and December 31, 2020 were commitments to fund variable rate loans. Unfunded loan commitments are generally entered into for periods of 90 days or less.

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Common Share	EARNINGS PER COMMON SHARE The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2021 and 2020: Year Ended 2021 2020 Basic: Net income $ 24,618 $ 12,703 Less: Preferred stock dividends 1,005 863 Net income available to common shareholders $ 23,613 $ 11,840 Weighted average common shares outstanding 3,802,935 3,430,716 Basic earnings per common share $ 6.21 $ 3.45 Diluted: Net income $ 24,618 $ 12,703 Less: Preferred stock dividends 1,005 863 Add: Series B preferred stock dividends 429 186 Net income available to common shareholders $ 24,042 $ 12,026 Weighted average common shares outstanding for basic earnings per common share 3,802,935 3,430,716 Add: Dilutive effects of conversion of Series B preferred stock to common stock 270,743 570,607 Add: Dilutive effects of assumed exercises of stock options/warrants 111,905 — Average shares and dilutive potential common shares 4,185,583 4,001,323 Diluted earnings per common share $ 5.74 $ 3.01 There were no common stock options excluded in computing diluted earnings per share for the year ended December 31, 2021 compared to 94,865 shares of common stock options that were excluded in computing diluted earnings per common share for the year ended December 31, 2020, because they were anti-dilutive.

Operating Segments

Operating Segments	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Operating Segments	OPERATING SEGMENTS The Company has two reportable segments: Banking and Residential Mortgage Lending. The Banking segment provides a variety of traditional community banking services through its full-service banking centers located in St. Petersburg, Seminole, Pinellas Park, Clearwater, Sarasota,Tampa, and Belleair Bluffs, Florida, as well as SBA lending services throughout the nation. The Residential Mortgage Lending segment originates residential mortgage loans primarily for sale in the secondary market with offices throughout the nation. Loans and deposits provide the revenues in the Banking segment and loan sales provide the revenues in the Residential Lending segment. Segment profit and loss is measured by net income after income tax. Inter-segment transactions are recorded at cost and eliminated as part of the consolidation process. Due to the interrelationships of the various segments, the information presented is not indicative of how the segments would perform if they operated as independent entities. Information about reportable segments and reconciliation of such information to the Consolidated Financial Statements follows: Year Ended Year Ended Residential Banking Consolidated Residential Banking Consolidated Interest income $ 3,717 $ 43,826 $ 47,543 $ 2,684 $ 41,046 $ 43,730 Interest expense 2,480 4,820 7,300 1,914 8,364 10,278 Net interest income 1,237 39,006 40,243 770 32,682 33,452 Provision for loan losses — (3,500) (3,500) — 16,900 16,900 Noninterest income: Residential loan fee income 95,543 — 95,543 92,678 — 92,678 Internal transfer for portfolio loans originated 336 (336) — 35 (35) — Other noninterest income 49 21,985 22,034 64 4,953 5,017 Total noninterest income 95,928 21,649 117,577 92,777 4,918 97,695 Total noninterest expense 80,279 48,563 128,842 65,229 33,240 98,469 Income before income tax expense 16,886 15,592 32,478 28,318 (12,540) 15,778 Income tax expense 4,661 3,199 7,860 7,929 (4,854) 3,075 Net income $ 12,225 $ 12,393 $ 24,618 $ 20,389 $ (7,686) $ 12,703 Period end assets $ 115,810 $ 801,285 $ 917,095 $ 217,422 $ 1,327,269 $ 1,544,691

Parent Company Only Condensed F

Parent Company Only Condensed Financial Information	12 Months Ended
	Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]
Parent Company Only Condensed Financial Information	PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION Condensed financial information of BayFirst Financial Corp. follows: BALANCE SHEETS - PARENT COMPANY December 31, 2021 2020 Assets: Cash on deposit with subsidiary $ 2,551 $ 2,438 Loans held for investment, at amortized cost 36 63 Investment in subsidiary 103,481 78,410 Other assets 158 53 Total Assets $ 106,226 $ 80,964 Liabilities: Subordinated debentures $ 5,985 $ 5,948 Notes payable 3,299 3,754 Accrued interest payable 8 8 Accrued expenses and other liabilities 644 185 Total liabilities 9,936 9,895 Stockholders' equity: Preferred stock, Series A; no par value, 10,000 shares authorized, 6,395 and 6,395 shares issued and outstanding; aggregate liquidation preference of $6,395 and $6,395 6,161 6,161 Preferred stock, Series B; no par value, 20,000 shares authorized, 3,210 and 8,760 shares issued and outstanding; aggregate liquidation preference of $3,210 and $8,760 3,123 8,516 Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 3,981,117 and 3,485,018 shares issued and outstanding 51,496 43,043 Accumulated other comprehensive income (loss), net (420) — Unearned compensation (17) (41) Retained earnings 35,947 13,390 Total stockholders' equity 96,290 71,069 Total liabilities and stockholders' equity $ 106,226 $ 80,964 STATEMENTS OF INCOME - PARENT COMPANY For the Years Ended December 31, 2021 2020 Income: Dividend income from bank subsidiary $ 1,000 $ — Expense: Interest expense 567 596 Other expenses 1,279 397 Total expense 1,846 993 Loss before taxes and equity in earnings of subsidiary (846) (993) Income tax benefits (434) (298) Loss before equity in earnings of subsidiary (412) (695) Equity in undistributed earnings of subsidiary 25,030 13,398 Net income $ 24,618 $ 12,703 STATEMENTS OF CASH FLOWS - PARENT COMPANY For the Years Ended December 31, 2021 2020 Cash flows from operating activities: Net income $ 24,618 $ 12,703 Adjustments to reconcile net income to net cash from operating activities - Equity in earnings from subsidiary (25,030) (13,398) Amortization of debt issuance costs 105 13 Stock based compensation expense 51 24 Change in other assets (105) (8) Change in other liabilities and accrued interest payable 459 67 Net cash from operating activities 98 (599) Cash flows from investing activities: Contributions to subsidiary — (4,500) Loan origination and payments, net 27 9 Net cash from investing activities 27 (4,491) Cash flows from financing activities: Payments on notes payable (455) (342) Proceeds from issuance of subordinated debt, net of costs 5,932 — Redemption of subordinated debt (6,000) — Proceeds from issuance of preferred stock, net 727 6,516 Proceeds from sale of common stock, net 1,850 1,096 ESOP contribution 366 260 Unearned ESOP shares allocation (371) — Dividends paid on common stock (1,056) (915) Dividends paid on preferred stock (1,005) (863) Net cash from financing activities (12) 5,752 Net change in cash 113 662 Cash at beginning of year 2,438 1,776 Cash at end of year $ 2,551 $ 2,438 Supplemental noncash disclosures Conversion of Series B preferred stock to common stock $ 6,120 $ — Conversion of subordinated debt to preferred stock, Series B — 500 Conversion of Series A preferred stock to Series B preferred stock — 1,500

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Nature of Operations and Principles of Consolidation	Nature of Operations and Principles of Consolidation : The accompanying unaudited consolidated financial statements include BayFirst Financial Corp. and its wholly owned subsidiary, First Home Bank, together referred to as “the Company”. BayFirst Financial Corp. is a registered bank holding company, incorporated under the laws of the State of Florida. The Company owns all outstanding stock of First Home Bank (the “Bank”), a Florida chartered commercial bank. A significant portion of the Company’s assets and revenues are derived from the operations of the Bank. The Company provides a variety of traditional community banking services through its full-service banking centers located in St. Petersburg, Seminole, Pinellas Park, Clearwater, Sarasota, Tampa, and Belleair Bluffs, Florida. The Bank’s primary deposit products are demand deposits, NOW accounts, money market accounts, savings deposits, and time deposits and its primary lending products are residential mortgage, commercial, and installment loans. In addition, the Company provides lending services nationwide to small business customers, and as such, a significant portion of the loans originated by the Bank are guaranteed by the SBA. The guaranteed portion of the SBA loan can be sold in the secondary market, and the Bank routinely engages in the sale of participating interests of the non-guaranteed portion. The Company also engages in mortgage banking activities with offices located in a number of states and as such, originates and sells one-to-four family residential mortgage loans in the secondary market.
Segment Reporting and Operating Segments	The Company principally operates in two business segments, Banking and Residential Mortgage Lending. Operating Segments : Operating segments as defined by FASB ASC 280, “ Segment Reporting”
Use of Estimates	Use of Estimates : To prepare financial statements in conformity with GAAP, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. The most significant estimates relate to the allowance for loan losses, SBA loan servicing rights, and fair value of residential loans held for sale and residential mortgage derivatives.
Reclassifications	Reclassifications : Some items in the prior year financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or shareholders’ equity.
Cash Flows	Cash Flows: Cash and cash equivalents include cash, deposits with other financial institutions with original maturities less than 90 days, and federal funds sold. Net cash flows are reported for customer loan and deposit transactions, interest bearing deposits in other financial institutions, and federal funds purchased.
Contingencies and Loss Contingencies	Contingencies : Loss Contingencies : Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there now are such matters that will have a material effect on the financial statements.
New Accounting Standards Not Yet Adopted	New Accounting Standards Not Yet Adopted : Allowance for credit losses: In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”) . This new guidance was issued to replace the incurred loss model for loans and other financial assets with an expected loss model, which is referred to as the CECL model. The CECL model is applicable to the measurement of credit losses on financial assets measured at amortized cost, including loan receivables and debt securities held to maturity. It also applies to off-balance sheet credit exposures not accounted for as
Time Deposits in Banks	Time Deposits in Banks : Time deposits with other banks have maturities ranging from August 2023 through December 2025 and bear interest at rates ranging from 2.15% to 3.50%. None of the time deposit had maturities of 12 months or less at the time of origination. All investments in time deposit are with FDIC insured financial institutions and none exceed the maximum insurable amount of $250,000.
Investment Securities	Investment Securities : Investment securities transactions are recorded on a trade date basis. The company has one debt security classified as held-to-maturity since management had the intent and ability to hold the security to maturity. The remaining investment securities are classified as available for sale since the Company may sell them before maturity. Available-for-sale securities are recorded at fair value. Unrealized gains and losses, net of the related tax effect, on available-for-sale securities are included in other comprehensive income and the related accumulated unrealized holding gains and losses are reported as a separate component of shareholders’ equity until realized. Equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments.
Restricted Equity Securities	Restricted Equity Securities : Restricted equity securities consist of FHLB Stock, FRB Stock, and stock in a correspondent bank, all of which are considered equity securities without readily determinable fair values. The Bank is a member of the FHLB system, and 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. The Bank is also a member of its regional FRB.
Loans Held For Sale	Loans Held for Sale : The Company designates government guaranteed loans as held for sale based on its intent to sell guaranteed or non-guaranteed portions of these loans in the secondary market. The Company makes the determination of which loans to sell during each quarter, and these loans are typically sold and settled prior to quarter-end. Government guaranteed loans held for sale are accounted for at lower of cost or fair value. Gains or losses on the sale of these loans are recorded in non-interest income on the Consolidated Statements of Income.
Loans	Loans : Except for certain loans for which the fair value option was elected during 2018, as discussed in Note 5 , all other 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 and costs, and an allowance for loan losses. Interest income is accrued on the unpaid principal balances. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments. In general, interest income is discontinued, and the loan is placed on non-accrual status, at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Mortgage and commercial loans are evaluated on a loan-by-loan basis and are charged off to the extent principal is deemed uncollectible. Other consumer and personal loans continue to accrue interest and are typically charged off no later than 120 days past due. In all cases, loans are placed on non-accrual or charged off at an earlier date if collection of principal or interest is considered doubtful. Non-accrual loans and loans past due more than 89 days and still on accrual include both smaller balance homogenous loans that are collectively evaluated for impairment and individually classified impaired loans. All interest accrued but not collected for loans placed on non-accrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Under the cash-basis method, interest income is recorded when the payment is received in cash. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future contractal payments are reasonably assured.
Concentration of Credit	Concentration of Credit : The Company grants residential and commercial real estate, construction and land, commercial and industrial, and consumer loans in the State of Florida with primary concentration being the Tampa Bay region. The Company also grants residential real estate and SBA commercial real estate, construction and land, and commercial and industrial loans nationwide. Although the Company’s loan portfolio is diversified, a significant portion of its loans are secured by real estate. The following loan segments have been identified: Residential Real Estate – The Bank originates residential real estate loans for the purchase or refinancing of a mortgage in the Tampa Bay region. These loans are primarily collateralized by owner and non-owner occupied properties located in Tampa Bay and are held at amortized cost in the Company’s loan portfolio. The Bank also originates residential real estate loans nationwide for the purchase or refinancing of a mortgage. These loans are primarily collateralized by owner and non-owner occupied properties located in the area in which they were originated, and these loans are sold into the secondary market. Commercial Real Estate – Commercial real estate loans consist of loans to finance real estate purchases, refinancings, and expansions and improvements to commercial properties. These loans are secured primarily by first liens and may include office buildings, apartments, retail and mixed-use properties, churches, warehouses, and restaurants. Commercial real estate loans are generally larger than residential real estate loans and involve greater credit risk. The repayment of these loans largely depends on the results of operations and management of these properties. Construction and Land – Construction and land loans consist of loans to individuals for the construction of a primary or secondary residence and, in some cases, to real estate investors to acquire and develop land. To the extent construction loans are not made to owner-occupants of single-family homes, they are more vulnerable to changes in economic conditions. Further, the nature of these loans is such that they are more difficult to evaluate and monitor. The risk of loss on a construction loan is dependent largely upon the accuracy of the initial estimate of the property’s value upon completion of the project and the estimated cost, including interest, of the project. Commercial and Industrial – Commercial and industrial loans consist of business loans to small and medium sized businesses in the Tampa Bay region and nationwide SBA loans. Commercial and industrial loans are generally used for working capital purposes or for acquiring equipment, inventory, or furniture. These loans are generally secured by accounts receivable, inventory, and equipment. Commercial and industrial loans are typically made based on the borrower’s ability to make repayment from the cash flow of the borrower’s business, which makes them of higher risk than residential real estate loans, and the collateral securing loans may be difficult to appraise and may fluctuate in value based on the success of the business. Commercial and Industrial - PPP – Commercial and industrial PPP loans consist of all loans originated under the SBA 7(a) loan PPP pursuant to the CARES Act economic relief program and carry a 100% government guarantee. Consumer and Other – Consumer and other loans mainly consist of automobile, revolving credit plans, and other loans. The Bank’s consumer loans may be uncollateralized and rely on the borrower’s income for repayment.
Allowance for Loan Losses	Allowance for Loan Losses : The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions, 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. 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 borrower is experiencing financial difficulty and the Company has granted an economic concession to the borrower that it would not otherwise consider are considered TDRs. In these instances, as part of a work-out alternative, the Company will make concessions including the extension of the loan term, a payment moratorium, a reduction in the interest rate, a period of interest-only payments, or a combination thereof. The impact of the TDR modifications and defaults are factored into the allowance for loan losses on a loan-by-loan basis as all TDRs are classified, by definition, as impaired loans. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impaired commercial real estate and commercial and industrial loans are individually evaluated for impairment. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the rate implicit in the original loan agreement or at the fair value of collateral if repayment is expected solely from the collateral. Troubled debt restructurings are individually evaluated for impairment and included in the separately identified impairment disclosures. TDRs are measured at the present value of estimated future 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 lesser of the cost basis or the fair value of the collateral. For TDRs that subsequently default, the Company determines the amount of the allowance on that loan in accordance with the accounting policy for the allowance for loan losses on loans individually identified as impaired. A TDR classification can be removed if the borrower’s financial condition improves such that the borrower is no longer in financial difficulty, the loan has not had any forgiveness of principal or interest, and the loan is subsequently refinanced or restructured at market terms and qualifies as a new loan. Performing loans receiving COVID-19 modifications are not classified as TDRs. For additional discussion regarding loans modified due to COVID-19, see Note 4 . The general component covers performing loans that are collectively evaluated for impairment. Large groups of smaller balance homogenous loans, such as consumer and residential real estate loans, are collectively evaluated for impairment, and accordingly, they are not included in the separately identified impairment disclosures. The general allowance component also includes loans that are not individually identified for impairment evaluation, such as commercial loans that are evaluated but are not considered impaired. The general component is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent one to three years, depending on the segment. The 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 of, and trends in, delinquencies and impaired loans; levels of, and trends in, charge-offs and recoveries; migration of loans to the classification of special mention, substandard, or doubtful; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentration.
Premises and Equipment	Premises and Equipment : Land is carried at cost. Premises and equipment are stated at cost, less accumulated depreciation. Buildings and related components are depreciated using the straight-line method with useful lives ranging from 15 to 40 years. Leasehold improvements are amortized using the straight-line method with useful lives ranging from 3 to 10 years based on the lesser of the useful life of the asset or the remaining expected term of the lease. Furniture, fixtures, and equipment are depreciated using the straight-line method with useful lives ranging from 3 to 10 years.
SBA Loan Servicing Rights and Transfers of Financial Assets	SBA Loan Servicing Rights : When the Company sells the guaranteed portion of an SBA loan or a portion of the non-guaranteed portion of an SBA loan, the Company retains the servicing, and a servicing right asset is created. Servicing rights are initially recorded at fair value in gain (loss) on sales of loans. Fair value is based on market prices for comparable servicing contracts, when available or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Servicing rights are evaluated for impairment based upon the fair value of the rights as compared to the carrying amount. Impairment is determined based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported through gain (loss) on sales of loans on the Consolidated Statements of Income. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. There was no valuation allowance recorded on SBA loan servicing rights at December 31, 2021 and December 31, 2020 . Loan servicing income, which is reported on the Consolidated Statement of Income in non-interest income, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal. The amortization of servicing rights is netted against loan servicing fee income. Transfers of Financial Assets : Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, 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 the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
Leases	Leases : The Company enters into leases in the normal course of business primarily for branch, corporate office, and loan production office locations. The Company’s leases have remaining terms ranging from month-to-month up to 10 years, some of which include renewal or termination options to extend the lease for up to 10 years. The Company’s leases do not include residual value guarantees or covenants. The Company includes lease extension and termination options in the lease terms if, after considering relevant economic factors, it is reasonably certain the Company will exercise the option. In addition, the Company has elected to account for any non-lease components in its real estate leases as part of the associated lease component. The Company has also elected not to recognize leases with original lease terms of 12 months or less (i.e., short-term leases) on the Consolidated Balance Sheets. Leases are classified as operating or finance leases at the lease commencement date; however, the Company has not entered into any finance leases. Lease expense for operating leases and short-term leases is recognized on a straight-line basis over the lease term. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Right-of-use assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company uses its incremental borrowing rate at lease commencement to calculate the present value of lease payments when the rate implicit in a lease is not known. The Company’s incremental borrowing rate is based on the FHLB amortizing advance rate, adjusted for the lease term and other factors.
Bank Owned Life Insurance	Bank Owned Life Insurance : The Company, through the Bank, has purchased life insurance policies on certain key officers. BOLI is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement.
Other Real Estate Owned	Other Real Estate Owned : OREO is initially recorded at fair value less 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 a similar legal agreement. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating costs after acquisition are also expensed.
Loan Commitments and Related Financial Instruments	Loan Commitments and Related Financial Instruments: 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.
Mortgage Banking Derivatives	Mortgage Banking Derivatives : In connection with the origination of mortgage loans intended for sale, the Bank enters into loan commitments for fixed rate mortgage loans, generally lasting 30 to 45 days and at market rates when initiated. Commitments to fund mortgage loans (i.e., interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free-standing derivatives. The fair value of the interest rate lock is recorded at the time the commitment to fund the mortgage loan is executed and is adjusted for the expected exercise of the commitment before the loan is funded. To deliver loans to the secondary market and to moderate its interest rate risk prior to sale, the Bank typically enters into non-exchange traded mandatory delivery forward sales contracts and best efforts forward sales contracts, which are also considered derivative instruments. These contracts are entered into for amounts and terms offsetting the interest rate risk of loan commitment derivatives and loans held for sale, and both are carried at their fair value with changes included in earnings. The Bank considers the best efforts forward sales contracts that meet the net settlement requirement to be derivatives, as there are penalties to the Bank if it does not deliver the loan to the investor once the loan closes with the borrower.
Stock-Based Compensation	Stock-Based Compensation : Compensation cost is recognized for stock options and restricted stock awards issued to employees, based on the fair value of these awards at the date of grant. A Black-Scholes model is used to estimate the fair value of stock options, while market price of the Company’s common stock at the date of grant is used for restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. The Company’s accounting policy is to recognize forfeitures as a reversal of compensation cost expenses in the period that they occur.
Advertising	Advertising :
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 the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. There was no valuation allowance recognized at December 31, 2021 and December 31, 2020 .
Employee 401(k) Plan	Employee 401(k) Plan : The Company has a 401(k) plan that covers all employees subject to certain age and service requirements. The Company contributes 3% of eligible employees’ salary each pay period as a safe harbor contribution. The Company may also match employee contributions each year at the discretion of the Board of Directors. Employee 401(k) expense is the amount of safe harbor and employee matching contributions to the 401(k) plan.
Non-Qualified Stock Purchase Plan	Non-Qualified Stock Purchase Plan : Under the NSPP, all employees and Directors are eligible to participate in the plan. Employees may purchase available shares of common stock with post-tax dollars as of the grant date at a 10% discount to the price of shares offered under the DRIP, as determined by the Board of Directors, with limitations on deductions from employees’ income. Directors may purchase available shares of common stock with post-tax dollars as of the grant date at the price of shares offered under the DRIP, with no minimum deduction and a maximum deduction of the Directors’ board fees. NSPP compensation expense is recorded based on the 10% discount offered to employees and the number of shares purchased by employees.
Employee Stock Ownership Plan	Employee Stock Ownership Plan : The Company has an ESOP for eligible employees. The amount of profit-sharing contributions to the ESOP is approved by the Board of Directors, and the Company purchases shares of the Company’s common stock based on the amount of approved contributions. Profit-sharing expense is the amount of contributions to the ESOP.
Preferred Stock	Preferred Stock : The Company has issued cumulative nonconvertible Series A shares of preferred stock, on which it pays cash dividends at a rate of 9% (unless we have not redeemed the shares by the tenth anniversary of their issuance, in which event the rate is subject to be increased to 11%). The Company has also issued cumulative convertible Series B shares of preferred stock, on which it pays cash dividends at a rate of 8% (unless we have not redeemed the shares by the tenth anniversary of their issuance, in which event the rate is subject to be increased to 9%). The Series B shares are convertible
Restrictions on Cash	Restrictions on Cash: The Federal Reserve Board reduced reserve requirement ratios to 0% effective March 26, 2020. This action eliminated reserve requirements for all depository institutions. Cash was required to be pledged as collateral with a broker-dealer for trading mortgage banking derivatives.
Earnings per Common Share	Earnings per Common Share : Basic earnings per common share is net income less preferred stock dividends (i.e., net income available to common shareholders) divided by the weighted average number of common shares outstanding during the year. Diluted earnings per common share includes the dilutive effect of vested stock options that are considered in-the-money and the dilutive effect of the potential conversion of Series B preferred stock to common stock.
Revenue Recognition	Revenue Recognition : Revenue earned on interest-earning assets is recognized based on the effective yield of the financial instrument. Revenue recognized from contracts with customers, which is accounted for under ASC 606, “ Revenue from Contracts with Customers”, is primarily included in the Company’s non-interest income. Interest income and certain other types of non-interest income are accounted for under other applicable accounting standards. A description of the Company’s revenue streams accounted for under ASC 606 are as follows: Service Charges on Deposit Accounts – The Company earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include but are not limited to services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer’s request. Maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance. Debit Card Interchange Fees – The Company earns interchange fees from debit cardholder transactions through the MasterCard payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided to the cardholder.
Fair Value Measurement	Fair value is the exchange price that would be received for an asset or paid to transfer a liability (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. There are three levels of inputs that may be used to measure fair values: Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access at the measurement date. Level 2 – Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and 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. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following is a description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy. Investment Securities Available for Sale : The fair values of investment securities available for sale are determined by matrix pricing, which is a mathematical technique used to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2). Management obtains the fair values of securities available for sale on a monthly basis from a third party pricing service. Residential Loans Held for Sale : The Company has elected to account for residential loans held for sale at fair value. The fair value of loans held for sale is determined using either actual quoted prices for the assets (Level 1) whenever possible or quoted prices for similar assets, adjusted for specific attributes of that loan (Level 2). The gain (loss) on loans held for sale is included in residential fee income in the Consolidated Statements of Income. SBA Loans Held for Investment, at Fair Value : The Company has elected to account for certain SBA loans held for investment at fair value. Fair value is calculated based on the present value of estimated future payments (Level 3). The valuation model uses interest rate, prepayment speed, and default rate assumptions that market participants would use in estimating future payments. Whenever available, the present value is validated against available market data. Mortgage Banking Derivatives : Mortgage banking derivatives used in the ordinary course of business primarily consist of mandatory forward sales contracts, best efforts forward sales contracts, and interest rate lock commitments. The fair value of mandatory forward sales contracts is measured using quoted market prices (Level 1), or in some cases when quoted market prices are not available, the pricing is derived from market observable inputs that can generally be verified and do not typically involve significant judgment by the Company (Level 2). Interest rate lock commitments involve pricing derived from market observable inputs that are adjusted based on pull-through rates. Pull-through rates are an unobservable input which are the Company’s estimate of the percentage of interest rate lock commitments expected to result in closed loans (Level 3). The fair value of best efforts forward sales contracts is measured using market observable inputs that are adjusted using unobservable inputs including duration, spread, and pull-through rates (Level 3). Impaired Loans : A loan is considered to be impaired when it is probable the Bank will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. In most cases, the Bank measures fair value based on the value of the collateral securing the loan. Collateral may be in the form of real estate and/or business or personal assets, including but not limited to equipment, inventory, and accounts receivable. The fair value of real estate collateral is determined based on third party appraisals by qualified licensed appraisers as well as internal estimates. The fair value of other business or personal assets is generally based on amounts reported on the financial statements of the customer or customer’s business. Appraised and reported values may be adjusted based on management’s historical knowledge, changes in market conditions from the time of valuation and management’s knowledge of the customer and the customer’s business. Since not all valuation inputs are observable, these nonrecurring fair value determinations are classified as Level 3. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on the same factors previously identified. SBA Loan Servicing Rights : On a quarterly basis, SBA loan servicing rights are evaluated for impairment based upon the fair value of the rights as compared to the carrying amount. If the carrying amount exceeds fair value, impairment is recorded so that the servicing asset is carried at fair value. The fair value of SBA servicing rights is based on a valuation model that calculates the present value of estimated net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income. There were no SBA loan servicing rights carried at fair value at December 31, 2021 and December 31, 2020.

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of Securities Available for Sale	The amortized costs, gross unrealized gains and losses, and estimated fair values of investment securities available for sale at December 31, 2021 are summarized as follows: Amortized Gross Gross Fair Investment securities available for sale: Asset-backed securities $ 7,624 $ — $ (89) $ 7,535 Mortgage-backed securities: U.S. Government-sponsored enterprises 4,470 — (76) 4,394 Collateralized mortgage obligations: U.S. Government-sponsored enterprises 19,370 — (406) 18,964 Total investment securities available for sale $ 31,464 $ — $ (571) $ 30,893

Loans (Tables)

Loans (Tables)	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Schedule of Loans for Investment at Amortized Cost	Loans held for investment, at amortized cost, at December 31, 2021 and December 31, 2020 were as follows: December 31, December 31, Real estate: Residential $ 87,235 $ 64,724 Commercial 163,477 114,884 Construction and land 18,632 15,113 Commercial and industrial 217,155 193,927 Commercial and industrial - PPP 80,158 838,847 Consumer and other 3,581 2,896 Loans held for investment, at amortized cost, gross 570,238 1,230,391 Deferred loan costs (fees), net 7,975 (5,819) Discount on SBA 7(a) loans sold (1) (3,866) (5,417) Discount on PPP loans purchased (13) (97) Allowance for loan losses (13,452) (21,162) Loans held for investment, at amortized cost $ 560,882 $ 1,197,896 (1) The Company allocates the retained portion of loans sold based on relative fair value of the retained portion and the sold portion, which results in a discount on the retained portion.

Allowance for Loan Losses (Tabl

Allowance for Loan Losses (Tables)	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Schedule of Allowance for Loans Losses and Recorded Investment in Loans by Loan Segment	The following schedule presents the activity in the allowance for loan losses by loan segment for the year ended December 31, 2021 and 2020: Year Ended 2021 2020 Balance, beginning of period $ 21,162 $ 10,742 Charge-offs: Real estate - residential — (7) Real estate - commercial (169) (427) Commercial and industrial (4,919) (6,336) Consumer and other (70) (98) Total charge-offs (5,158) (6,868) Recoveries: Real estate - commercial 78 — Commercial and industrial 863 311 Consumer and other 7 77 Total recoveries 948 388 Net (charge-offs) recoveries (4,210) (6,480) Provision for loan losses (3,500) 16,900 Balance, end of period $ 13,452 $ 21,162 Net charge-offs (recoveries) to total average loans held for investment 0.44 % 0.70 % The following table presents the balance in the allowance for loan losses and the recorded investment in loans by loan segment and based on impairment method at December 31, 2021. The government guaranteed loan balances are included in the collectively evaluated for impairment balances. Real Estate- Real Estate- Real Estate - Commercial Commercial Consumer Unallocated Total Allowance for loan losses: Individually evaluated for impairment $ — $ 91 $ — $ 902 $ — $ — $ — $ 993 Collectively evaluated for impairment 1,437 2,258 241 8,300 — 154 69 12,459 Total $ 1,437 $ 2,349 $ 241 $ 9,202 $ — $ 154 $ 69 $ 13,452 Loans: Individually evaluated for impairment $ 124 $ 2,900 $ — $ 902 $ — $ — $ — $ 3,926 Collectively evaluated for impairment 87,111 160,577 18,632 216,253 80,158 3,581 — 566,312 Total $ 87,235 $ 163,477 $ 18,632 $ 217,155 $ 80,158 $ 3,581 $ — $ 570,238 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by loan segment and based on impairment method at December 31, 2020. The government guaranteed loan balances are included in the collectively evaluated for impairment balances. Real Estate- Real Estate- Real Estate - Commercial Commercial Consumer Unallocated Total Allowance for loan losses: Individually evaluated for impairment $ — $ 162 $ — $ 948 $ — $ — $ — $ 1,110 Collectively evaluated for impairment 2,088 2,737 310 14,470 — 252 195 20,052 Total $ 2,088 $ 2,899 $ 310 $ 15,418 $ — $ 252 $ 195 $ 21,162 Loans: Individually evaluated for impairment $ — $ 2,348 $ — $ 948 $ — $ — $ — $ 3,296 Collectively evaluated for impairment 64,724 112,536 15,113 192,979 838,847 2,896 — 1,227,095 Total $ 64,724 $ 114,884 $ 15,113 $ 193,927 $ 838,847 $ 2,896 $ — $ 1,230,391
Summary of Information Related to Impaired Loans by Loan Segment	The following table presents information related to impaired loans by loan segment at and for the year ended December 31, 2021: Unpaid Recorded Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Interest Recognized With no related allowance recorded: Real estate - residential $ 124 $ 124 $ — $ 31 $ — $ — Real estate - commercial 2,763 2,763 — 2,353 8 8 Real estate - construction and land — — — — — — Commercial and industrial — — — — — — Consumer and other — — — — — — Subtotal 2,887 2,887 — 2,384 8 8 With an allowance recorded: Real estate - residential — — — — — — Real estate - commercial 137 137 91 360 — — Real estate - construction and land — — — — — — Commercial and industrial 902 902 902 874 — — Consumer and other — — — — — — Subtotal 1,039 1,039 993 1,234 — — Total $ 3,926 $ 3,926 $ 993 $ 3,618 $ 8 $ 8 The following table presents information related to impaired loans by loan segment at and for the year ended December 31, 2020: Unpaid Recorded Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Interest Recognized With no related allowance recorded: Real estate - residential $ — $ — $ — $ 23 $ — $ — Real estate - commercial 1,699 1,272 — 946 48 36 Real estate - construction and land — — — — — — Commercial and industrial — — — 46 — — Consumer and other — — — — — — Subtotal 1,699 1,272 — 1,015 48 36 With an allowance recorded: Real estate - residential — — — — — — Real estate - commercial 1,076 1,076 162 1,085 — — Real estate - construction and land — — — — — — Commercial and industrial 948 948 948 2,008 — — Consumer and other — — — — — — Subtotal 2,024 2,024 1,110 3,093 — — Total $ 3,723 $ 3,296 $ 1,110 $ 4,108 $ 48 $ 36
Schedule of Recorded Investment in Nonaccrual and Loans Past Due over 89 Days Still on Accrual by Loan Segment	The following tables present the recorded investment in nonaccrual and loans past due over 89 days still on accrual by loan segment at December 31, 2021 and December 31, 2020. In the following table, the recorded investment does not include the government guaranteed balance. Nonaccrual Loans Past Due Over December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Real estate - residential $ 124 $ — $ 126 $ 573 Real estate - commercial 2,815 1,806 — — Commercial and industrial 902 948 — — Total $ 3,841 $ 2,754 $ 126 $ 573
Schedule of Aging of Recorded Investment in Past Due Loans	The following table presents the aging of the recorded investment in past due loans at December 31, 2021 by loan segment: 30-89 Days Greater Than Total Past Due Loans Not Past Due (1) Total Loans Real estate - residential $ 57 $ 250 $ 307 $ 86,928 $ 87,235 Real estate - commercial 192 1,778 1,970 161,507 163,477 Real estate - construction and land — — — 18,632 18,632 Commercial and industrial 991 424 1,415 215,740 217,155 Commercial and industrial - PPP — — — 80,158 80,158 Consumer and other — — — 3,581 3,581 Total $ 1,240 $ 2,452 $ 3,692 $ 566,546 $ 570,238 (1) For the purposes of the table above, $10,360 of balances 30-89 days past due and $2,807 of balances greater than 89 days past due are reported as Loans Not Past Due as a result of the government guaranty, $11,089 of commercial and industrial PPP loans are primarily due to delinquencies from borrowers with only a PPP loan and no other First Home Bank product. These borrowers were non-responsive to requests for forgiveness applications and payments, and applications were subsequently submitted to the SBA for their 100% guarantee purchase from the Bank. The following table presents the aging of the recorded investment in past due loans at December 31, 2020 by loan segment: 30-89 Days Greater Than Total Past Due Loans Not Past Due (1) Total Loans Real estate - residential $ 654 $ 573 $ 1,227 $ 63,497 $ 64,724 Real estate - commercial 954 1,743 2,697 112,187 114,884 Real estate - construction and land — — — 15,113 15,113 Commercial and industrial 1,613 — 1,613 192,314 193,927 Commercial and industrial - PPP — — — 838,847 838,847 Consumer and other 4 — 4 2,892 2,896 Total $ 3,225 $ 2,316 $ 5,541 $ 1,224,850 $ 1,230,391 (1) For the purposes of the table above, $252 of balances 30-89 days past due and $5,023 of balances greater than 89 days past due are reported as Loans Not Past Due as a result of the government guaranty.
Summary of Credit Exposure for the Loan Portfolio Disaggregated by Loan Segment	The table below sets forth credit exposure for the loan portfolio disaggregated by loan segment based on internally assigned risk ratings at December 31, 2021: Pass Special Substandard Doubtful Total Loans Real estate - residential $ 87,233 $ — $ 2 $ — $ 87,235 Real estate - commercial 160,492 170 2,815 — 163,477 Real estate - construction and land 18,632 — — — 18,632 Commercial and industrial 212,544 1,850 2,761 — 217,155 Commercial and industrial - PPP 80,158 — — — 80,158 Consumer and other 3,581 — — — 3,581 Loans held for investment, at amortized cost $ 562,640 $ 2,020 $ 5,578 $ — $ 570,238 The table below sets forth credit exposure for the loan portfolio disaggregated by loan segment based on internally assigned risk ratings at December 31, 2020: Pass Special Substandard Doubtful Total Loans Real estate - residential $ 64,593 $ — $ 131 $ — $ 64,724 Real estate - commercial 112,260 431 2,193 — 114,884 Real estate - construction and land 15,113 — — — 15,113 Commercial and industrial 186,781 5,177 1,896 73 193,927 Commercial and industrial - PPP 838,847 — — — 838,847 Consumer and other 2,896 — — — 2,896 Loans held for investment, at amortized cost $ 1,220,490 $ 5,608 $ 4,220 $ 73 $ 1,230,391
Schedule of Loans Classified as Troubled Debt Restructuring and Loan Modifications Related to Covid-19	The following table presents loans classified as TDR at December 31, 2021 and December 31, 2020: December 31, 2021 December 31, 2020 Accruing Nonaccruing Accruing Nonaccruing Real estate - commercial $ 85 $ 1,116 $ 542 $ 666 Loan modifications related to COVID-19 at December 31, 2021 and December 31, 2020 are presented in the table below: December 31, 2021 December 31, 2020 Number of Outstanding Number of Loans Outstanding Recorded Investment Real estate - residential 1 $ 258 11 $ 7,106 Real estate - commercial — — 4 1,849 Real estate - construction and land — — 2 1,424 Commercial and industrial 23 1,113 220 9,624 Total loan modifications related to COVID-19 24 $ 1,371 237 $ 20,003

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	Assets and liabilities measured at fair value on a recurring basis at December 31, 2021 are summarized below: Quoted Prices in Significant Significant Unobservable Inputs (Level 3) Total Financial assets Investment securities available for sale $ — $ 30,893 $ — $ 30,893 Residential loans held for sale 43,837 70,294 — 114,131 SBA loans held for investment, at fair value — — 9,614 9,614 Interest rate lock commitments — — 1,435 1,435 Mandatory forward sales contracts 88 — — 88 Best efforts forward sales contracts — — 27 27 Financial liabilities Interest rate lock commitments $ — $ — $ 23 $ 23 Mandatory forward sales contracts 166 — — 166 Assets and liabilities measured at fair value on a recurring basis at December 31, 2020 are summarized below: Quoted Prices in Significant Significant Unobservable Inputs (Level 3) Total Financial assets Residential loans held for sale $ 21,888 $ 186,816 $ — $ 208,704 SBA loans held for investment, at fair value — — 9,264 9,264 Interest rate lock commitments — — 7,565 7,565 Best efforts forward sales contracts — — 55 55 Financial liabilities Interest rate lock commitments $ — $ — $ 12 $ 12 Mandatory forward sales contracts 4,455 — — 4,455
Schedule of fair value for loans	The aggregate fair value, contractual balance, and gain at December 31, 2021 and December 31, 2020 for residential loans held for sale were as follows: December 31, 2021 December 31, 2020 Aggregate fair value $ 114,131 $ 208,704 Contractual balance 110,335 199,974 Gain $ 3,796 $ 8,730 The total amount of gains and losses from changes in fair value and interest income included in earnings for the years ended December 31, 2021 and 2020 for residential loans held for sale were as follows: Year Ended December 31, 2021 2020 Interest income $ 3,717 $ 2,684 Change in fair value (4,934) 6,049 Total gain (loss) $ (1,217) $ 8,733 The aggregate fair value, contractual balance, and gain (loss) at December 31, 2021 and December 31, 2020 for SBA loans held for investment, at fair value, were as follows: December 31, 2021 December 31, 2020 Aggregate fair value $ 9,614 $ 9,264 Contractual balance 9,429 9,263 Gain (loss) $ 185 $ 1 The total amount of gains and losses from changes in fair value and interest income included in earnings for the years ended December 31, 2021 and 2020 for SBA loans held for investment, at fair value, were as follows: Year Ended December 31, 2021 2020 Interest income $ 559 $ 725 Change in fair value 184 1 Total gain $ 743 $ 726
Schedule of valuation technique and unobservable inputs used in the valuation of SBA loans held for investment, at fair value	The table below presents a reconciliation of SBA loans held for investment, at fair value, which were valued on a recurring basis and used significant unobservable inputs (Level 3) for the years ended December 31, 2021 and 2020: Year Ended December 31, 2021 2020 Balance of SBA loans held for investment at fair value, beginning of period $ 9,264 $ 10,341 Principal payments (1,227) (741) Charge-offs (8) (97) SBA repurchase of guaranteed balances — (240) Repurchase of guaranteed balances previously participated 1,401 — Total gains during the period 184 1 Balance of SBA loans held for investment at fair value, end of period $ 9,614 $ 9,264 The following table provides information about the valuation techniques and unobservable inputs used in the valuation of SBA loans held for investment, at fair value, interest rate lock commitments, best efforts forward sales contracts falling within Level 3 of the fair value hierarchy at December 31, 2021 and December 31, 2020: Fair Value Valuation Unobservable Inputs Range (Weighted Average) December 31, 2021 SBA loans held for $ 9,614 Discounted Discount Rate 3.22%-6.72% (4.22%) investment, at fair value Cash Flow Conditional Prepayment Rate 10.56%-10.56% (10.56%) Interest rate lock commitments 1,412 Quoted market prices Pull-through expectations 24.00%-100.00% (84.40%) Best efforts forward sales contracts 27 Quoted market prices Pull-through expectations 24.00%-80.00% (65.79%) December 31, 2020 SBA loans held for $ 9,264 Discounted Discount Rate 3.24%-6.74% (4.37%) investment, at fair value Cash Flow Conditional Prepayment Rate 10.53%-10.56% (10.55%) Interest rate lock commitments 7,553 Quoted market prices Pull-through expectations 52.50%-100.00% (81.63%) Best efforts forward sales contracts 55 Quoted market prices Pull-through expectations 52.50%-80.00% (73.37%)
Schedule of assets measured at fair value on a nonrecurring basis	Assets measured at fair value on a nonrecurring basis at December 31, 2021 are summarized below: Fair Value Valuation Technique(s) Significant Discount % Range/Amount Impaired loans $ 1,614 Discount appraisals, estimated net realizable value of collateral Collateral discounts 10% Assets measured at fair value on a nonrecurring basis at December 31, 2020 are summarized below: Fair Value Valuation Technique(s) Significant Discount % Range/Amount Impaired loans $ 1,583 Discount appraisals, estimated net realizable value of collateral Collateral discounts 20-75%
Summary of the carrying values and estimated values of financial instruments not carried at fair value	The carrying values and estimated fair values of financial instruments not carried at fair value, at December 31, 2021 and December 31, 2020 are as follows: December 31, 2021 December 31, 2020 Level Carrying Value Fair Value Carrying Value Fair Value Assets: Cash and cash equivalents 1 $ 109,727 $ 109,727 $ 55,379 $ 55,379 Time deposits in banks 2 2,381 2,437 2,381 2,521 Investment securities held to maturity 2 2 2 41 39 Restricted equity securities, at cost 2 2,827 2,827 2,362 2,362 Government guaranteed loans held for sale 2 1,460 1,460 — — Loans held for investment, at amortized cost 3 560,882 569,394 1,197,896 1,213,967 Accrued interest receivable 3 3,564 3,564 7,300 7,300 SBA loan servicing rights 3 6,407 8,050 8,160 9,709 Mortgage loan servicing rights 3 212 212 — — Liabilities: Noninterest-bearing deposits 2 $ 83,638 $ 83,638 $ 62,650 $ 62,650 Interest-bearing transaction accounts 2 163,495 163,495 140,265 140,265 Savings and money market deposits 2 423,864 423,864 286,744 286,744 Time deposits 2 50,688 51,049 69,125 69,743 Subordinated debentures 2 5,985 6,175 5,948 6,516 Notes payable 2 3,299 3,350 3,754 3,754 PPP Liquidity Facility 2 69,654 69,654 881,262 881,262 Accrued interest payable 2 326 326 1,999 1,999

SBA Loan Servicing Activities (

SBA Loan Servicing Activities (Tables)	12 Months Ended
	Dec. 31, 2021
Transfers and Servicing [Abstract]
Schedule of activity for SBA loan servicing rights	Activity for SBA loan servicing rights for the year ended December 31, 2021 and 2020 follows: Year Ended December 31, 2021 December 31, 2020 Beginning of period $ 8,160 $ 11,280 Additions 1,229 530 Amortization (2,982) (3,650) End of period $ 6,407 $ 8,160
Schedule of net gain on sale of SBA loans	The following table presents the components of net gain (loss) on sale of SBA loans, excluding sale of PPP loans, for the years ended December 31, 2021 and December 31, 2020: Year Ended December 31, 2021 December 31, 2020 Gain on sale of guaranteed SBA loans $ 3,435 $ 2,087 Loss on sale of unguaranteed SBA loans (406) (70) Costs recognized on sale of SBA loans (51) (895) Fair value of servicing rights created 1,229 530 Gain on sale of SBA loans, net $ 4,207 $ 1,652

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Premises and Equipment	Premises and equipment at December 31, 2021 and 2020 were as follows: 2021 2020 Land and improvements $ 4,194 $ 3,543 Building and improvements 9,590 6,853 Leasehold improvements 2,433 1,972 Furniture, fixtures, and equipment 7,034 6,048 Fixed assets in process 12,247 4,417 Total premises and equipment 35,498 22,833 Accumulated depreciation and amortization (5,827) (4,718) Net premises and equipment $ 29,671 $ 18,115

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Summary of Total Lease Cost and Supplemental Information	For the year ended December 31, 2021 and December 31, 2020, the components of total lease cost and supplemental information related to operating leases were as follows: Year Ended 2021 2020 Operating lease cost $ 1,456 $ 1,210 Short-term lease cost 694 670 Total lease cost, net $ 2,150 $ 1,880 Year Ended 2021 2020 Operating cash flows related to operating leases $ 1,440 $ 1,123 Right-of-use assets obtained in exchange for new operating lease liabilities 543 2,000 $ 1,983 $ 3,123
Schedule of Future Minimum Lease Payments	The future minimum lease payments for operating leases, subsequent to December 31, 2021, as recorded on the balance sheet, are summarized as follows: 2022 $ 1,455 2023 1,162 2024 1,087 2025 685 2026 593 Thereafter 301 Total undiscounted lease payments $ 5,283 Less: imputed interest (536) Net lease liabilities $ 4,747

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Summary of Nonvested Restricted Shares	A summary of changes in the Company’s nonvested restricted shares for the year ended December 31, 2021 follows: Shares Weighted-Average Nonvested at January 1, 2021 4,130 $ 14.63 Granted 4,008 13.33 Vested (5,655) 13.61 Forfeited — — Nonvested at December 31, 2021 2,483 $ 14.86
Summary of Fair Value of Options Granted Using Weighted Average Assumptions	The fair value of options granted during the year ended December 31, 2021 were determined using the following weighted average assumptions as of grant date: December 31, 2021 Risk-free interest rate (%) 0.82 Expected term (years) 7.50 Expected stock price volatility (%) 29.57 Dividend yield (%) 1.82
Summary of Activity in the Equity Plan	A summary of the activity in the Equity Plan for the year ended December 31, 2021 follows: Shares Weighted Weighted Aggregate Outstanding at January 1, 2021 332,708 $ 16.01 Granted 127,275 14.67 Exercised — — Forfeited (3,600) 15.13 Expired (5,625) 16.45 Outstanding at December 31, 2021 450,758 $ 15.64 7.71 $ 3,216 Vested and exercisable at December 31, 2021 180,318 $ 16.52 6.96 $ 1,191

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	Income tax expense (benefit) for the years ended December 31, 2021 and 2020 was as follows: 2021 2020 Current tax provision: Federal $ 3,852 $ 5,088 State 503 1,693 Total Current tax provision 4,355 6,781 Deferred expense (benefit): Federal 2,727 (2,902) State 778 (804) Total deferred expense (benefit): 3,505 (3,706) Total income tax expense $ 7,860 $ 3,075
Effective Tax Rate Reconciliation	The effective tax rate differed from the federal statutory rate of 21% in 2021 and 2020 as follows: 2021 2020 Federal tax based on federal corporate statutory rate $ 6,820 $ 3,313 State tax, net of federal effect 1,012 702 Changes resulting from: CARES Act tax benefit — (968) Other, net 28 28 Total Income tax expense $ 7,860 $ 3,075
Deferred Tax Assets and Liabilities	Deferred tax assets and liabilities at December 31, 2021 and December 31, 2020 were due to the following: 2021 2020 Deferred tax assets: Allowance for loan losses $ 3,238 $ 5,364 Deferred loan fees 274 3,358 Discount on loans sold 934 1,396 Operating lease liabilities 1,143 995 Accrued bonuses 534 454 Other 962 598 Total gross deferred tax assets 7,085 12,165 Deferred tax liabilities: Mortgage banking fair value adjustments (1,074) (2,861) SBA loan servicing rights (1,542) (2,068) Deferred loan costs (2,193) (1,884) Right-of-use operating lease assets (1,094) (947) Depreciation (693) (597) Other (35) — Total gross deferred tax liabilities (6,631) (8,357) Net deferred tax asset $ 454 $ 3,808

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
	Dec. 31, 2021
Banking And Thrift Disclsoure [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	Actual and required capital amounts and ratios for the Bank are presented below at December 31, 2021: Actual Required for Capital Adequacy Purposes To be Well Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk Weighted Assets) $ 106,002 21.25 % $ 39,909 8.00 % $ 49,886 10.00 % Tier 1 Capital (to Risk Weighted Assets) $ 99,656 19.98 % $ 29,932 6.00 % $ 39,909 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) $ 99,656 19.98 % $ 22,449 4.50 % $ 32,426 6.50 % Tier 1 Capital (to Average Assets) $ 99,656 12.22 % $ 32,619 4.00 % $ 40,774 5.00 % Actual and required capital amounts and ratios for the Bank are presented below at December 31, 2020: Actual Required for Capital Adequacy Purposes To be Well Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk Weighted Assets) $ 78,824 17.02 % $ 37,056 8.00 % $ 46,320 10.00 % Tier 1 Capital (to Risk Weighted Assets) $ 72,825 15.72 % $ 27,792 6.00 % $ 37,056 8.00 % Common Equity Tier 1 Capital (to Risk Weighted Assets) $ 72,825 15.72 % $ 20,844 4.50 % $ 30,108 6.50 % Tier 1 Capital (to Average Assets) $ 72,825 11.75 % $ 24,799 4.00 % $ 30,998 5.00 %

Mortgage Banking Activities (Ta

Mortgage Banking Activities (Tables)	12 Months Ended
	Dec. 31, 2021
Mortgage Banking [Abstract]
Schedule of Components of Residential Loan Fee Income	The following table presents the components of residential loan fee income for the year ended December 31, 2021 and 2020: Year Ended 2021 2020 Net gain realized on sale of residential loans held for sale $ 89,578 $ 88,336 Net change in fair value recognized on residential loans held for sale (4,934) 6,049 Net change in fair value recognized on interest rate lock commitments (6,194) 6,536 Net change in fair value recognized on mandatory and best efforts forward sales contracts 7,229 (16,940) Mortgage banking fees 9,864 8,697 Residential loan fee income $ 95,543 $ 92,678
Schedule of Net Gains (Losses) Relating to Free-Standing Derivative Instruments Used for Risk Management	The net gains (losses) relating to free-standing derivative instruments used for risk management at December 31, 2021 and December 31, 2020 are summarized below: December 31, 2021 December 31, 2020 Mandatory forward sales contracts $ (78) $ (4,455) Best efforts forward sales contracts 27 55 Interest rate lock commitments 1,412 7,553
Schedule of Derivative Assets at Fair Value	The following table reflects the amount and fair value of mortgage banking derivatives included in the Consolidated Balance Sheets at December 31, 2021 and December 31, 2020: December 31, 2021 December 31, 2020 Notional Fair Notional Fair Included in other assets: Interest rate lock commitments $ 103,572 $ 1,435 $ 390,676 $ 7,565 Mandatory forward sales contracts 60,000 88 — — Best efforts forward sales contracts 7,375 27 19,803 55 Included in other liabilities: Interest rate lock commitments 4,550 23 8,046 12 Mandatory forward sales contracts 82,500 166 514,000 4,455
Schedule of Derivative Liabilities at Fair Value	December 31, 2021 December 31, 2020 Notional Fair Notional Fair Included in other assets: Interest rate lock commitments $ 103,572 $ 1,435 $ 390,676 $ 7,565 Mandatory forward sales contracts 60,000 88 — — Best efforts forward sales contracts 7,375 27 19,803 55 Included in other liabilities: Interest rate lock commitments 4,550 23 8,046 12 Mandatory forward sales contracts 82,500 166 514,000 4,455

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Loans to Principal Officers, Directors and their Affiliates	Loans to principal officers, directors, and their affiliates during 2021 were as follows: 2021 Balance at December 31, 2020 $ 10,028 New loans 347 Repayments (3,061) Balance at December 31, 2021 $ 7,314

Loan Commitments and Other Re_2

Loan Commitments and Other Related Activities (Tables)	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Summary of Financial Instruments With Off-Balance Sheet Risk	The contractual amounts of financial instruments with off-balance sheet risk at December 31, 2021 and December 31, 2020 were as follows: December 31, 2021 December 31, 2020 Unfunded loan commitments $ 18,567 $ 34,867 Unused lines of credit 52,076 34,063 Standby letters of credit 68 68

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2021 and 2020: Year Ended 2021 2020 Basic: Net income $ 24,618 $ 12,703 Less: Preferred stock dividends 1,005 863 Net income available to common shareholders $ 23,613 $ 11,840 Weighted average common shares outstanding 3,802,935 3,430,716 Basic earnings per common share $ 6.21 $ 3.45 Diluted: Net income $ 24,618 $ 12,703 Less: Preferred stock dividends 1,005 863 Add: Series B preferred stock dividends 429 186 Net income available to common shareholders $ 24,042 $ 12,026 Weighted average common shares outstanding for basic earnings per common share 3,802,935 3,430,716 Add: Dilutive effects of conversion of Series B preferred stock to common stock 270,743 570,607 Add: Dilutive effects of assumed exercises of stock options/warrants 111,905 — Average shares and dilutive potential common shares 4,185,583 4,001,323 Diluted earnings per common share $ 5.74 $ 3.01

Operating Segments (Tables)

Operating Segments (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of Information About Reportable Segments	Information about reportable segments and reconciliation of such information to the Consolidated Financial Statements follows: Year Ended Year Ended Residential Banking Consolidated Residential Banking Consolidated Interest income $ 3,717 $ 43,826 $ 47,543 $ 2,684 $ 41,046 $ 43,730 Interest expense 2,480 4,820 7,300 1,914 8,364 10,278 Net interest income 1,237 39,006 40,243 770 32,682 33,452 Provision for loan losses — (3,500) (3,500) — 16,900 16,900 Noninterest income: Residential loan fee income 95,543 — 95,543 92,678 — 92,678 Internal transfer for portfolio loans originated 336 (336) — 35 (35) — Other noninterest income 49 21,985 22,034 64 4,953 5,017 Total noninterest income 95,928 21,649 117,577 92,777 4,918 97,695 Total noninterest expense 80,279 48,563 128,842 65,229 33,240 98,469 Income before income tax expense 16,886 15,592 32,478 28,318 (12,540) 15,778 Income tax expense 4,661 3,199 7,860 7,929 (4,854) 3,075 Net income $ 12,225 $ 12,393 $ 24,618 $ 20,389 $ (7,686) $ 12,703 Period end assets $ 115,810 $ 801,285 $ 917,095 $ 217,422 $ 1,327,269 $ 1,544,691

Parent Company Only Condensed_2

Parent Company Only Condensed Financial Information (Tables)	12 Months Ended
	Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]
Balance Sheets	Condensed financial information of BayFirst Financial Corp. follows: BALANCE SHEETS - PARENT COMPANY December 31, 2021 2020 Assets: Cash on deposit with subsidiary $ 2,551 $ 2,438 Loans held for investment, at amortized cost 36 63 Investment in subsidiary 103,481 78,410 Other assets 158 53 Total Assets $ 106,226 $ 80,964 Liabilities: Subordinated debentures $ 5,985 $ 5,948 Notes payable 3,299 3,754 Accrued interest payable 8 8 Accrued expenses and other liabilities 644 185 Total liabilities 9,936 9,895 Stockholders' equity: Preferred stock, Series A; no par value, 10,000 shares authorized, 6,395 and 6,395 shares issued and outstanding; aggregate liquidation preference of $6,395 and $6,395 6,161 6,161 Preferred stock, Series B; no par value, 20,000 shares authorized, 3,210 and 8,760 shares issued and outstanding; aggregate liquidation preference of $3,210 and $8,760 3,123 8,516 Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 3,981,117 and 3,485,018 shares issued and outstanding 51,496 43,043 Accumulated other comprehensive income (loss), net (420) — Unearned compensation (17) (41) Retained earnings 35,947 13,390 Total stockholders' equity 96,290 71,069 Total liabilities and stockholders' equity $ 106,226 $ 80,964
Statements of Income	STATEMENTS OF INCOME - PARENT COMPANY For the Years Ended December 31, 2021 2020 Income: Dividend income from bank subsidiary $ 1,000 $ — Expense: Interest expense 567 596 Other expenses 1,279 397 Total expense 1,846 993 Loss before taxes and equity in earnings of subsidiary (846) (993) Income tax benefits (434) (298) Loss before equity in earnings of subsidiary (412) (695) Equity in undistributed earnings of subsidiary 25,030 13,398 Net income $ 24,618 $ 12,703
Statements of Cash Flows	STATEMENTS OF CASH FLOWS - PARENT COMPANY For the Years Ended December 31, 2021 2020 Cash flows from operating activities: Net income $ 24,618 $ 12,703 Adjustments to reconcile net income to net cash from operating activities - Equity in earnings from subsidiary (25,030) (13,398) Amortization of debt issuance costs 105 13 Stock based compensation expense 51 24 Change in other assets (105) (8) Change in other liabilities and accrued interest payable 459 67 Net cash from operating activities 98 (599) Cash flows from investing activities: Contributions to subsidiary — (4,500) Loan origination and payments, net 27 9 Net cash from investing activities 27 (4,491) Cash flows from financing activities: Payments on notes payable (455) (342) Proceeds from issuance of subordinated debt, net of costs 5,932 — Redemption of subordinated debt (6,000) — Proceeds from issuance of preferred stock, net 727 6,516 Proceeds from sale of common stock, net 1,850 1,096 ESOP contribution 366 260 Unearned ESOP shares allocation (371) — Dividends paid on common stock (1,056) (915) Dividends paid on preferred stock (1,005) (863) Net cash from financing activities (12) 5,752 Net change in cash 113 662 Cash at beginning of year 2,438 1,776 Cash at end of year $ 2,551 $ 2,438 Supplemental noncash disclosures Conversion of Series B preferred stock to common stock $ 6,120 $ — Conversion of subordinated debt to preferred stock, Series B — 500 Conversion of Series A preferred stock to Series B preferred stock — 1,500

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	May 10, 2021	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)
Property, Plant and Equipment [Line Items]
Number of business segments | segment		2
Stock split conversion	1.5
Remaining lease terms		10 years
Lease renewal terms		10 years
Employer contribution over employees' gross pay (in percentage)		3.00%
Cash pledged for trading | $		$ 948	$ 477
Non-Qualified Stock Purchase Plan
Property, Plant and Equipment [Line Items]
Discount to the price of shares		10.00%
Preferred Shares, Series A
Property, Plant and Equipment [Line Items]
Dividend rate		9.00%
Dividend rate if shares not redeemed by tenth anniversary		11.00%
Preferred Shares, Series B
Property, Plant and Equipment [Line Items]
Dividend rate		8.00%
Dividend rate if shares not redeemed by tenth anniversary		9.00%
Minimum
Property, Plant and Equipment [Line Items]
Time deposit, interest rates		2.15%
Minimum | Building
Property, Plant and Equipment [Line Items]
Useful life		15 years
Minimum | Leasehold improvements
Property, Plant and Equipment [Line Items]
Useful life		3 years
Minimum | Furniture, fixtures, and equipment
Property, Plant and Equipment [Line Items]
Useful life		3 years
Maximum
Property, Plant and Equipment [Line Items]
Time deposit, interest rates		3.50%
Maximum | Building
Property, Plant and Equipment [Line Items]
Useful life		40 years
Maximum | Leasehold improvements
Property, Plant and Equipment [Line Items]
Useful life		10 years
Maximum | Furniture, fixtures, and equipment
Property, Plant and Equipment [Line Items]
Useful life		10 years

Investment Securities - Schedul

Investment Securities - Schedule of Securities Available for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Investment securities available for sale:
Amortized Cost	$ 31,464
Gross Unrealized Gains	0
Gross Unrealized Losses	(571)
Investment securities available for sale	30,893	$ 0
Asset-backed securities
Investment securities available for sale:
Amortized Cost	7,624
Gross Unrealized Gains	0
Gross Unrealized Losses	(89)
Investment securities available for sale	7,535
Mortgage-backed securities, U.S Government-sponsored enterprises
Investment securities available for sale:
Amortized Cost	4,470
Gross Unrealized Gains	0
Gross Unrealized Losses	(76)
Investment securities available for sale	4,394
Collateralized mortgage obligations, U.S. Government-sponsored enterprises
Investment securities available for sale:
Amortized Cost	19,370
Gross Unrealized Gains	0
Gross Unrealized Losses	(406)
Investment securities available for sale	$ 18,964

Investment Securities - Narrati

Investment Securities - Narrative (Details) $ in Thousands	Dec. 31, 2021USD ($)security	Dec. 31, 2020USD ($)security
Investments, Debt and Equity Securities [Abstract]
Number of securities in an unrealized loss position | security	9
Number of securities held-to-maturity | security	1	1
Debt securities, held-to-maturity, amortized cost	$ 2	$ 41
Debt securities, held-to-maturity, accumulated unrecognized loss	0	2
Investment securities held to maturity	$ 2	$ 39
Weighted average market yield of securities	1.21%
Weighted average market yield of securities	1.21%

Loans - Schedule of Loans for I

Loans - Schedule of Loans for Investment at Amortized Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	$ 570,238	$ 1,230,391
Deferred loan costs (fees), net	7,975	(5,819)
Discount on SBA 7(a) loans sold	(3,866)	(5,417)
Discount on PPP loans purchased	(13)	(97)
Allowance for loan losses	(13,452)	(21,162)	$ (10,742)
Loans held for investment, at amortized cost	560,882	1,197,896
Real Estate- Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	87,235	64,724
Allowance for loan losses	(1,437)	(2,088)
Real Estate- Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	163,477	114,884
Allowance for loan losses	(2,349)	(2,899)
Real Estate - Construction and Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	18,632	15,113
Allowance for loan losses	(241)	(310)
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	217,155	193,927
Allowance for loan losses	(9,202)	(15,418)
Commercial and industrial - PPP
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	80,158	838,847
Allowance for loan losses	0	0
Consumer and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	3,581	2,896
Allowance for loan losses	$ (154)	$ (252)

Loans - Narrative (Details)

Loans - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Loans and Leases Receivable Disclosure [Line Items]
Loan (originations) and payments, net		$ 282,944
Commercial and industrial - PPP
Loans and Leases Receivable Disclosure [Line Items]
Loan (originations) and payments, net		329,315	$ 876,603
Proceeds from sale of loans		$ 326,318
Payments to acquire loans			$ 22,404
Gain on sale of loan	$ 13,817

Allowance for Loan Losses - Sch

Allowance for Loan Losses - Schedule of Allowance for Loans Losses by Loan Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 21,162	$ 10,742
Total charge-offs	(5,158)	(6,868)
Total recoveries	948	388
Net (charge-offs) recoveries	(4,210)	(6,480)
Provision for loan losses	(3,500)	16,900
Balance, end of period	$ 13,452	$ 21,162
Net charge-offs (recoveries) to total average loans held for investment	0.44%	0.70%
Real Estate- Residential
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 2,088
Total charge-offs	0	$ (7)
Balance, end of period	1,437	2,088
Real Estate- Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	2,899
Total charge-offs	(169)	(427)
Total recoveries	78	0
Balance, end of period	2,349	2,899
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	15,418
Total charge-offs	(4,919)	(6,336)
Total recoveries	863	311
Balance, end of period	9,202	15,418
Consumer and other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	252
Total charge-offs	(70)	(98)
Total recoveries	7	77
Balance, end of period	$ 154	$ 252

Allowance for Loan Losses - S_2

Allowance for Loan Losses - Schedule of Allowance for Loans Losses and Recorded Investment in Loans by Loan Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	$ 993	$ 1,110
Collectively evaluated for impairment	12,459	20,052
Total	13,452	21,162	$ 10,742
Individually evaluated for impairment	3,926	3,296
Collectively evaluated for impairment	566,312	1,227,095
Total	570,238	1,230,391
Real Estate- Residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	1,437	2,088
Total	1,437	2,088
Individually evaluated for impairment	124	0
Collectively evaluated for impairment	87,111	64,724
Total	87,235	64,724
Real Estate- Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	91	162
Collectively evaluated for impairment	2,258	2,737
Total	2,349	2,899
Individually evaluated for impairment	2,900	2,348
Collectively evaluated for impairment	160,577	112,536
Total	163,477	114,884
Real Estate - Construction and Land
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	241	310
Total	241	310
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	18,632	15,113
Total	18,632	15,113
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	902	948
Collectively evaluated for impairment	8,300	14,470
Total	9,202	15,418
Individually evaluated for impairment	902	948
Collectively evaluated for impairment	216,253	192,979
Total	217,155	193,927
Commercial and industrial - PPP
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	0	0
Total	0	0
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	80,158	838,847
Total	80,158	838,847
Consumer and other
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	154	252
Total	154	252
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	3,581	2,896
Total	3,581	2,896
Unallocated
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	69	195
Total	69	195
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	0	0
Total	$ 0	$ 0

Allowance for Loan Losses - Sum

Allowance for Loan Losses - Summary of Information Related to Impaired Loans by Loan Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Impaired [Line Items]
Impaired Loans with No Related Allowance Recorded - Unpaid Principal Balance	$ 2,887	$ 1,699
Impaired Loans with No Related Allowance Recorded - Recorded Investment	2,887	1,272
Impaired Loans with No Related Allowance Recorded - Average Recorded Investment	2,384	1,015
Impaired Loans with No Related Allowance Recorded - Interest Income Recognized	8	48
Impaired Loans with No Related Allowance Recorded - Cash Basis Interest Recognized	8	36
Impaired Loans with an Allowance Recorded - Unpaid Principal Balance	1,039	2,024
Impaired Loans with an Allowance Recorded - Recorded Investment	1,039	2,024
Impaired Loans with an Allowance Recorded - Allowance for Loan Losses Allocated	993	1,110
Impaired Loans with an Allowance Recorded - Average Recorded Investment	1,234	3,093
Impaired Loans with an Allowance Recorded - Interest Income Recognized	0	0
Impaired Loans with an Allowance Recorded - Cash Basis Interest Recognized	0	0
Impaired Loans - Unpaid Principal Balance	3,926	3,723
Impaired Loans - Recorded Investment	3,926	3,296
Impaired Loans - Average Recorded Investment	3,618	4,108
Impaired Loans - Interest Income Recognized	8	48
Impaired Loans - Cash Basis Interest Recognized	8	36
Real Estate- Residential
Financing Receivable, Impaired [Line Items]
Impaired Loans with No Related Allowance Recorded - Unpaid Principal Balance	124	0
Impaired Loans with No Related Allowance Recorded - Recorded Investment	124	0
Impaired Loans with No Related Allowance Recorded - Average Recorded Investment	31	23
Impaired Loans with No Related Allowance Recorded - Interest Income Recognized	0	0
Impaired Loans with No Related Allowance Recorded - Cash Basis Interest Recognized	0	0
Impaired Loans with an Allowance Recorded - Unpaid Principal Balance	0	0
Impaired Loans with an Allowance Recorded - Recorded Investment	0	0
Impaired Loans with an Allowance Recorded - Allowance for Loan Losses Allocated	0	0
Impaired Loans with an Allowance Recorded - Average Recorded Investment	0	0
Real Estate- Commercial
Financing Receivable, Impaired [Line Items]
Impaired Loans with No Related Allowance Recorded - Unpaid Principal Balance	2,763	1,699
Impaired Loans with No Related Allowance Recorded - Recorded Investment	2,763	1,272
Impaired Loans with No Related Allowance Recorded - Average Recorded Investment	2,353	946
Impaired Loans with No Related Allowance Recorded - Interest Income Recognized	8	48
Impaired Loans with No Related Allowance Recorded - Cash Basis Interest Recognized	8	36
Impaired Loans with an Allowance Recorded - Unpaid Principal Balance	137	1,076
Impaired Loans with an Allowance Recorded - Recorded Investment	137	1,076
Impaired Loans with an Allowance Recorded - Allowance for Loan Losses Allocated	91	162
Impaired Loans with an Allowance Recorded - Average Recorded Investment	360	1,085
Real Estate - Construction and Land
Financing Receivable, Impaired [Line Items]
Impaired Loans with No Related Allowance Recorded - Unpaid Principal Balance	0	0
Impaired Loans with No Related Allowance Recorded - Recorded Investment	0	0
Impaired Loans with No Related Allowance Recorded - Average Recorded Investment	0	0
Impaired Loans with No Related Allowance Recorded - Interest Income Recognized	0	0
Impaired Loans with No Related Allowance Recorded - Cash Basis Interest Recognized	0	0
Impaired Loans with an Allowance Recorded - Unpaid Principal Balance	0	0
Impaired Loans with an Allowance Recorded - Recorded Investment	0	0
Impaired Loans with an Allowance Recorded - Allowance for Loan Losses Allocated	0	0
Impaired Loans with an Allowance Recorded - Average Recorded Investment	0	0
Commercial and industrial
Financing Receivable, Impaired [Line Items]
Impaired Loans with No Related Allowance Recorded - Unpaid Principal Balance	0	0
Impaired Loans with No Related Allowance Recorded - Recorded Investment	0	0
Impaired Loans with No Related Allowance Recorded - Average Recorded Investment	0	46
Impaired Loans with No Related Allowance Recorded - Interest Income Recognized	0	0
Impaired Loans with No Related Allowance Recorded - Cash Basis Interest Recognized	0	0
Impaired Loans with an Allowance Recorded - Unpaid Principal Balance	902	948
Impaired Loans with an Allowance Recorded - Recorded Investment	902	948
Impaired Loans with an Allowance Recorded - Allowance for Loan Losses Allocated	902	948
Impaired Loans with an Allowance Recorded - Average Recorded Investment	874	2,008
Consumer and other
Financing Receivable, Impaired [Line Items]
Impaired Loans with No Related Allowance Recorded - Unpaid Principal Balance	0	0
Impaired Loans with No Related Allowance Recorded - Recorded Investment	0	0
Impaired Loans with No Related Allowance Recorded - Average Recorded Investment	0	0
Impaired Loans with No Related Allowance Recorded - Interest Income Recognized	0	0
Impaired Loans with No Related Allowance Recorded - Cash Basis Interest Recognized	0	0
Impaired Loans with an Allowance Recorded - Unpaid Principal Balance	0	0
Impaired Loans with an Allowance Recorded - Recorded Investment	0	0
Impaired Loans with an Allowance Recorded - Allowance for Loan Losses Allocated	0	0
Impaired Loans with an Allowance Recorded - Average Recorded Investment	$ 0	$ 0

Allowance for Loan Losses - Nar

Allowance for Loan Losses - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Impaired loans, unsold guaranteed balance	$ 6,197	$ 6,259
Estimated amount of loan loss reserves impaired	38	$ 0
Unguaranteed portion of guaranteed loan threshold for reserved in full	$ 100

Allowance for Loan Losses - S_3

Allowance for Loan Losses - Schedule of Recorded Investment in Nonaccrual and Loans Past Due over 89 Days Still on Accrual by Loan Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual	$ 3,841	$ 2,754
Loans Past Due Over 89 Days Still Accruing	126	573
Real Estate- Residential
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual	124	0
Loans Past Due Over 89 Days Still Accruing	126	573
Real Estate- Commercial
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual	2,815	1,806
Loans Past Due Over 89 Days Still Accruing	0	0
Commercial and industrial
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual	902	948
Loans Past Due Over 89 Days Still Accruing	$ 0	$ 0

Allowance for Loan Losses - S_4

Allowance for Loan Losses - Schedule of Aging of Recorded Investment in Past Due Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Loans, gross	$ 570,238	$ 1,230,391
30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	1,240	3,225
Government guaranteed loan balance	10,360	252
Greater Than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	2,452	2,316
Government guaranteed loan balance	2,807	5,023
Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	3,692	5,541
Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	566,546	1,224,850
Real Estate- Residential
Financing Receivable, Past Due [Line Items]
Loans, gross	87,235	64,724
Real Estate- Residential | 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	57	654
Real Estate- Residential | Greater Than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	250	573
Real Estate- Residential | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	307	1,227
Real Estate- Residential | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	86,928	63,497
Real Estate- Commercial
Financing Receivable, Past Due [Line Items]
Loans, gross	163,477	114,884
Real Estate- Commercial | 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	192	954
Real Estate- Commercial | Greater Than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	1,778	1,743
Real Estate- Commercial | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	1,970	2,697
Real Estate- Commercial | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	161,507	112,187
Real Estate - Construction and Land
Financing Receivable, Past Due [Line Items]
Loans, gross	18,632	15,113
Real Estate - Construction and Land | 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	0	0
Real Estate - Construction and Land | Greater Than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	0	0
Real Estate - Construction and Land | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	0	0
Real Estate - Construction and Land | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	18,632	15,113
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, gross	217,155	193,927
Commercial and industrial | 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	991	1,613
Commercial and industrial | Greater Than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	424	0
Commercial and industrial | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	1,415	1,613
Commercial and industrial | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	215,740	192,314
Commercial and industrial - PPP
Financing Receivable, Past Due [Line Items]
Loans, gross	80,158	838,847
Commercial and industrial - PPP | 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	0	0
Commercial and industrial - PPP | Greater Than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	0	0
Commercial and industrial - PPP | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	0	0
Commercial and industrial - PPP | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	80,158	838,847
PPP loan delinquencies
Financing Receivable, Past Due [Line Items]
Government guaranteed loan balance	11,089
Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, gross	3,581	2,896
Consumer and other | 30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	0	4
Consumer and other | Greater Than 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	0	0
Consumer and other | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	0	4
Consumer and other | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Loans, gross	$ 3,581	$ 2,892

Allowance for Loan Losses - S_5

Allowance for Loan Losses - Summary of Credit Exposure for the Loan Portfolio Disaggregated by Loan Segment (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	$ 570,238	$ 1,230,391
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	562,640	1,220,490
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	2,020	5,608
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	5,578	4,220
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	73
Real Estate- Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	87,235	64,724
Real Estate- Residential | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	87,233	64,593
Real Estate- Residential | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	0
Real Estate- Residential | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	2	131
Real Estate- Residential | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	0
Real Estate- Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	163,477	114,884
Real Estate- Commercial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	160,492	112,260
Real Estate- Commercial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	170	431
Real Estate- Commercial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	2,815	2,193
Real Estate- Commercial | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	0
Real Estate - Construction and Land
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	18,632	15,113
Real Estate - Construction and Land | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	18,632	15,113
Real Estate - Construction and Land | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	0
Real Estate - Construction and Land | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	0
Real Estate - Construction and Land | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	0
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	217,155	193,927
Commercial and industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	212,544	186,781
Commercial and industrial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	1,850	5,177
Commercial and industrial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	2,761	1,896
Commercial and industrial | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	73
Commercial and industrial - PPP
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	80,158	838,847
Commercial and industrial - PPP | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	80,158	838,847
Commercial and industrial - PPP | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	0
Commercial and industrial - PPP | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	0
Commercial and industrial - PPP | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	0
Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	3,581	2,896
Consumer and other | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	3,581	2,896
Consumer and other | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	0
Consumer and other | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	0
Consumer and other | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	$ 0	$ 0

Allowance for Loan Losses - S_6

Allowance for Loan Losses - Schedule of Loans Classified as Troubled Debt Restructuring (Details) - Real Estate- Commercial - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing receivable, TBR, accruing	$ 85	$ 542
Financing receivable, TBR, nonaccruing	$ 1,116	$ 666

Allowance for Loan Losses - S_7

Allowance for Loan Losses - Schedule of Loan Modifications Related to Covid-19 (Details) $ in Thousands	Dec. 31, 2021USD ($)contract	Dec. 31, 2020USD ($)contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | contract	24	237
Outstanding Recorded Investment | $	$ 1,371	$ 20,003
Real Estate- Residential
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | contract	1	11
Outstanding Recorded Investment | $	$ 258	$ 7,106
Real Estate- Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | contract	0	4
Outstanding Recorded Investment | $	$ 0	$ 1,849
Real Estate - Construction and Land
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | contract	0	2
Outstanding Recorded Investment | $	$ 0	$ 1,424
Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | contract	23	220
Outstanding Recorded Investment | $	$ 1,113	$ 9,624

Fair Value - Narrative (Details

Fair Value - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value option, loans held as assets, 90 days or more past due	$ 0	$ 0
Fair value option, loans held as assets, aggregate amount in nonaccrual status	$ 0	$ 0

Fair Value - Schedule of assets

Fair Value - Schedule of assets and liabilities measured at fair value on a recurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financial assets
Investment securities available for sale	$ 30,893	$ 0
SBA loans held for investment, at fair value	9,614	9,264
Fair Value, Recurring
Financial assets
Investment securities available for sale	30,893
Loans held for sale	114,131	208,704
SBA loans held for investment, at fair value	9,614	9,264
Fair Value, Recurring | Interest rate lock commitments
Financial assets
Derivative assets	1,435	7,565
Financial liabilities
Derivative liabilities	23	12
Fair Value, Recurring | Mandatory forward sales contracts
Financial assets
Derivative assets	88
Financial liabilities
Derivative liabilities	166	4,455
Fair Value, Recurring | Best efforts forward sales contracts
Financial assets
Derivative assets	27	55
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial assets
Investment securities available for sale	0
Loans held for sale	43,837	21,888
SBA loans held for investment, at fair value	0	0
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate lock commitments
Financial assets
Derivative assets	0	0
Financial liabilities
Derivative liabilities	0	0
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mandatory forward sales contracts
Financial assets
Derivative assets	88
Financial liabilities
Derivative liabilities	166	4,455
Fair Value, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Best efforts forward sales contracts
Financial assets
Derivative assets	0	0
Fair Value, Recurring | Significant Other Observable Inputs (Level 2)
Financial assets
Investment securities available for sale	30,893
Loans held for sale	70,294	186,816
SBA loans held for investment, at fair value	0	0
Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | Interest rate lock commitments
Financial assets
Derivative assets	0	0
Financial liabilities
Derivative liabilities	0	0
Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | Mandatory forward sales contracts
Financial assets
Derivative assets	0
Financial liabilities
Derivative liabilities	0	0
Fair Value, Recurring | Significant Other Observable Inputs (Level 2) | Best efforts forward sales contracts
Financial assets
Derivative assets	0	0
Fair Value, Recurring | Significant Unobservable Inputs (Level 3)
Financial assets
Investment securities available for sale	0
Loans held for sale	0	0
SBA loans held for investment, at fair value	9,614	9,264
Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | Interest rate lock commitments
Financial assets
Derivative assets	1,435	7,565
Financial liabilities
Derivative liabilities	23	12
Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | Mandatory forward sales contracts
Financial assets
Derivative assets	0
Financial liabilities
Derivative liabilities	0	0
Fair Value, Recurring | Significant Unobservable Inputs (Level 3) | Best efforts forward sales contracts
Financial assets
Derivative assets	$ 27	$ 55

Fair Value - Summary of loans a

Fair Value - Summary of loans accounted for under the fair value option (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Option, Quantitative Disclosures [Line Items]
Residential loans held for sale	$ 114,131	$ 208,704
Interest income	47,543	43,730
Residential loans held for sale
Fair Value, Option, Quantitative Disclosures [Line Items]
Contractual balance	110,335	199,974
Interest income	3,717	2,684
Gain (loss)	3,796	8,730
Change in fair value	(4,934)	6,049
Total gain (loss)	(1,217)	8,733
SBA Loan
Fair Value, Option, Quantitative Disclosures [Line Items]
Contractual balance	9,429	9,263
Interest income	559	725
Gain (loss)	185	1
Change in fair value	184	1
Total gain (loss)	$ 743	$ 726

Fair Value - Schedule of SBA lo

Fair Value - Schedule of SBA loans held for investment, at fair value, which were valued on a recurring basis and used significant unobservable inputs (Details) - Loans Receivable - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance of SBA loans held for investment at fair value, beginning of period	$ 9,264	$ 10,341
Principal payments	(1,227)	(741)
Charge-offs	(8)	(97)
SBA repurchase of guaranteed balances	0	(240)
Repurchase of guaranteed balances previously participated	1,401	0
Total gains during the period	184	1
Balance of SBA loans held for investment at fair value, end of period	$ 9,614	$ 9,264

Fair Value - Schedule of valuat

Fair Value - Schedule of valuation technique and unobservable inputs used in the valuation of SBA loans held for investment, at fair value (Details) $ in Thousands	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SBA loans held for investment, at fair value	$ 9,614	$ 9,264
Fair Value, Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SBA loans held for investment, at fair value	9,614	9,264
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SBA loans held for investment, at fair value	9,614	9,264
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Interest rate lock commitments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives, net	1,412	7,553
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Best efforts forward sales contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives, net	$ 27	$ 55
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Minimum | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SBA loans held for investment, measurement input	0.0322	0.0324
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Minimum | Conditional Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SBA loans held for investment, measurement input	0.1056	0.1053
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Minimum | Pull-through expectations | Interest rate lock commitments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives, net, measurement input	0.2400	0.5250
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Minimum | Pull-through expectations | Best efforts forward sales contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives, net, measurement input	0.2400	0.5250
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Maximum | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SBA loans held for investment, measurement input	0.0672	0.0674
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Maximum | Conditional Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SBA loans held for investment, measurement input	0.1056	0.1056
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Maximum | Pull-through expectations | Interest rate lock commitments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives, net, measurement input	1	1
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Maximum | Pull-through expectations | Best efforts forward sales contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives, net, measurement input	0.8000	0.8000
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Weighted Average | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SBA loans held for investment, measurement input	0.0422	0.0437
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Weighted Average | Conditional Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
SBA loans held for investment, measurement input	0.1056	0.1055
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Weighted Average | Pull-through expectations | Interest rate lock commitments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives, net, measurement input	0.8440	0.8163
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Weighted Average | Pull-through expectations | Best efforts forward sales contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivatives, net, measurement input	0.6579	0.7337

Fair Value - Schedule of asse_2

Fair Value - Schedule of assets measured at fair value on a nonrecurring basis (Details) - Fair Value, Nonrecurring - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Nonrecurring [Line Items]
Impaired loans	$ 1,614	$ 1,583
Discount Rate
Fair Value, Nonrecurring [Line Items]
Impaired loans, measurement input	1000.00%
Minimum | Discount Rate
Fair Value, Nonrecurring [Line Items]
Impaired loans, measurement input		20.00%
Maximum | Discount Rate
Fair Value, Nonrecurring [Line Items]
Impaired loans, measurement input		75.00%

Fair Value - Schedule of asse_3

Fair Value - Schedule of assets and liabilities not carried at fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Debt securities, held-to-maturity, fair value	$ 2	$ 39
SBA loans held for investment, at fair value	9,614	9,264
1 | Carrying Value | Cash and cash equivalents
ASSETS
Cash and cash equivalents	109,727	55,379
1 | Fair Value | Cash and cash equivalents
ASSETS
Cash and cash equivalents	109,727	55,379
2 | Carrying Value
ASSETS
Debt securities, held-to-maturity, fair value	2	41
Restricted equity securities, at cost	2,827	2,362
Government guaranteed loans held for sale	1,460	0
Liabilities:
Subordinated debentures	5,985	5,948
Notes payable	3,299	3,754
PPP Liquidity Facility	69,654	881,262
Accrued interest payable	326	1,999
2 | Carrying Value | Time deposits in banks
ASSETS
Cash and cash equivalents	2,381	2,381
Liabilities:
Deposits, liabilities	50,688	69,125
2 | Carrying Value | Noninterest-bearing deposits
Liabilities:
Deposits, liabilities	83,638	62,650
2 | Carrying Value | Interest-bearing transaction accounts
Liabilities:
Deposits, liabilities	163,495	140,265
2 | Carrying Value | Savings and money market deposits
Liabilities:
Deposits, liabilities	423,864	286,744
2 | Fair Value
ASSETS
Debt securities, held-to-maturity, fair value	2	39
Restricted equity securities, at cost	2,827	2,362
Government guaranteed loans held for sale	1,460	0
Liabilities:
Subordinated debentures	6,175	6,516
Notes payable	3,350	3,754
PPP Liquidity Facility	69,654	881,262
Accrued interest payable	326	1,999
2 | Fair Value | Time deposits in banks
ASSETS
Cash and cash equivalents	2,437	2,521
Liabilities:
Deposits, liabilities	51,049	69,743
2 | Fair Value | Noninterest-bearing deposits
Liabilities:
Deposits, liabilities	83,638	62,650
2 | Fair Value | Interest-bearing transaction accounts
Liabilities:
Deposits, liabilities	163,495	140,265
2 | Fair Value | Savings and money market deposits
Liabilities:
Deposits, liabilities	423,864	286,744
3 | Carrying Value
ASSETS
SBA loans held for investment, at fair value	560,882	1,197,896
Accrued interest receivable	3,564	7,300
3 | Carrying Value | SBA Loan
ASSETS
Loan servicing rights	6,407	8,160
3 | Carrying Value | Mortgage Loan
ASSETS
Loan servicing rights	212	0
3 | Fair Value
ASSETS
SBA loans held for investment, at fair value	569,394	1,213,967
Accrued interest receivable	3,564	7,300
3 | Fair Value | SBA Loan
ASSETS
Loan servicing rights	8,050	9,709
3 | Fair Value | Mortgage Loan
ASSETS
Loan servicing rights	$ 212	$ 0

SBA Loan Servicing Activities -

SBA Loan Servicing Activities - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Servicing Asset at Amortized Cost [Line Items]
Principal balance of SBA loans, excluding PPP loans	$ 300,415	$ 253,330
Principal balance of SBA loans, excluding PPP loans, guaranteed portion	171,548	110,196
Unpaid principal balances of SBA loans serviced for others	$ 459,670	$ 524,910
Servicing assets, weighted average discount rate (in percentage)	12.13%	11.75%
Servicing assets, weighted average prepayment speed (in percentage)	10.37%	10.34%
PPP and Government Loans
Servicing Asset at Amortized Cost [Line Items]
Gain on sale of loans	$ 18,024	$ 1,652
SBA Loan
Servicing Asset at Amortized Cost [Line Items]
Gain on sale of loans	4,207	1,652
SBA Loan | Significant Unobservable Inputs (Level 3) | Fair Value
Servicing Asset at Amortized Cost [Line Items]
Servicing asset rights at fair value	8,050	$ 9,709
PPP Loans
Servicing Asset at Amortized Cost [Line Items]
Gain on sale of loans	$ 13,817

SBA loan servicing activities_2

SBA loan servicing activities - Schedule of activity for SBA loan servicing rights (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Beginning of period	$ 8,160
End of period	6,619	$ 8,160
SBA Loan
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Beginning of period	8,160	11,280
Additions	1,229	530
Amortization	(2,982)	(3,650)
End of period	$ 6,407	$ 8,160

SBA loan servicing activities_3

SBA loan servicing activities - Schedule of net gain on sale of SBA loans (Details) - SBA Loan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Servicing Asset at Amortized Cost [Line Items]
Gain on sale of guaranteed SBA loans	$ 3,435	$ 2,087
Loss on sale of unguaranteed SBA loans	(406)	(70)
Costs recognized on sale of SBA loans	(51)	(895)
Fair value of servicing rights created	1,229	530
Net gain realized on sale of residential loans held for sale	$ 4,207	$ 1,652

Premises and Equipment (Details

Premises and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total premises and equipment	$ 35,498	$ 22,833
Accumulated depreciation and amortization	(5,827)	(4,718)
Net premises and equipment	29,671	18,115
Depreciation and amortization	1,741	1,411
Land and improvements
Property, Plant and Equipment [Line Items]
Total premises and equipment	4,194	3,543
Building and improvements
Property, Plant and Equipment [Line Items]
Total premises and equipment	9,590	6,853
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total premises and equipment	2,433	1,972
Furniture, fixtures, and equipment
Property, Plant and Equipment [Line Items]
Total premises and equipment	7,034	6,048
Fixed assets in process
Property, Plant and Equipment [Line Items]
Total premises and equipment	$ 12,247	$ 4,417

Leases - Summary of Total Lease

Leases - Summary of Total Lease Cost and Supplemental Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 1,456	$ 1,210
Short-term lease cost	694	670
Total lease cost, net	2,150	1,880
Operating cash flows related to operating leases	1,440	1,123
Right-of-use assets obtained in exchange for new operating lease liabilities	543	2,000
Supplemental information related to operating leases	$ 1,983	$ 3,123

Leases - Narrative (Details)

Leases - Narrative (Details)	Dec. 31, 2021
Leases [Abstract]
Weighted average discount rate	2.03%
Weighted average remaining life	4 years 3 months 7 days

Leases - Maturity (Details)

Leases - Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2022	$ 1,455
2023	1,162
2024	1,087
2025	685
2026	593
Thereafter	301
Total undiscounted lease payments	5,283
Less: imputed interest	(536)
Net lease liabilities	$ 4,747	$ 3,925

Other Borrowings (Details)

Other Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018
Debt Instrument [Line Items]
Subordinated debentures	$ 5,985		$ 5,985	$ 5,948
Notes payable	3,299		3,299	3,754
PPP Liquidity Facility	$ 69,654		$ 69,654	$ 881,262
Subordinated Debt | June 2021 Subordinated Debentures
Debt Instrument [Line Items]
Debt instrument, face amount		$ 6,000
Debt instrument, redemption period		5 years
Debt instrument, fixed interest rate		4.50%
Debt instrument, initial term		5 years
Subordinated Debt | December 2018 Subordinated Debentures
Debt Instrument [Line Items]
Debt instrument, face amount					$ 6,000
Debt instrument, fixed interest rate					6.875%
Subordinated Debt | Secured Overnight Financing Rate (SOFR) | June 2021 Subordinated Debentures
Debt Instrument [Line Items]
Debt Instrument, final term		5 years
Debt instrument, floating rate		3.78%
Notes Payable, Other Payables | Amortizing Note Payable
Debt Instrument [Line Items]
Debt instrument, collateral, percentage of Bank's stock			100.00%
Notes Payable, Other Payables | Prime Rate | Amortizing Note Payable
Debt Instrument [Line Items]
Debt instrument, floating rate	3.25%

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of options granted (in dollars per share)		$ 3.70	$ 3.71
Unrecognized compensation cost related to nonvested stock options granted		$ 622
Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost charged against income		$ 461	$ 397
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted in the period (in shares)	22,716	4,008
Award vesting period				5 years
Unrecognized compensation expense		$ 14
Expected period for recognition		7 months 6 days
Fair value of shares vested		$ 85	$ 321
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected period for recognition		2 years 3 months 29 days
Maximum percentage of stock granted		15.00%
Maximum number of shares issued and outstanding (in shares)		1,500,000
Contractual term		10 years
Stock Options | Share-based Payment Arrangement, Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		5 years
Stock Options | Share-based Payment Arrangement, Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Nonvested Restricted Shares (Details) - Restricted Stock - $ / shares	6 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2021
Shares
Nonvested beginning balance (in shares)		4,130
Stock grants (in shares)	22,716	4,008
Vested (in shares)		(5,655)
Forfeited (in shares)		0
Nonvested ending balance (in shares)		2,483
Weighted-Average Grant-Date Fair Value, per share
Nonvested beginning balance (in dollars per share)		$ 14.63
Granted (in dollars per share)		13.33
Vested (in dollars per share)		13.61
Forfeited (in dollars per share)		0
Nonvested ending balance (in dollars per share)		$ 14.86

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Fair Value of Options Granted Using Weighted Average Assumptions (Details)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Risk-free interest rate (%)	0.82%
Expected term (years)	7 years 6 months
Expected stock price volatility (%)	29.57%
Dividend yield (%)	1.82%

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Activity in the Equity Plan (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
Shares
Outstanding beginning balance (in shares) | shares	332,708
Granted (in shares) | shares	127,275
Exercised (in shares) | shares	0
Forfeited (in shares) | shares	(3,600)
Expired (in shares) | shares	(5,625)
Outstanding ending balance (in shares) | shares	450,758
Vested at ending balance (in shares) | shares	180,318
Exercisable at ending balance (in shares) | shares	180,318
Weighted Average Exercise Price
Outstanding beginning balance (in dollars per share) | $ / shares	$ 16.01
Granted (in dollars per share) | $ / shares	14.67
Exercised (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	15.13
Expired (in dollars per share) | $ / shares	16.45
Outstanding ending balance (in dollars per share) | $ / shares	15.64
Exercisable at ending balance (in dollars per share) | $ / shares	16.52
Vested at ending balance (in dollars per share) | $ / shares	$ 16.52
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Weighted Average Remaining Contractual Term, Outstanding	7 years 8 months 15 days
Weighted Average Remaining Contractual Term, Vested	6 years 11 months 15 days
Weighted Average Remaining Contractual Term, Exercisable	6 years 11 months 15 days
Aggregate Intrinsic Value, Outstanding | $	$ 3,216
Aggregate Intrinsic Value, Vested | $	1,191
Aggregate Intrinsic Value, Exercisable | $	$ 1,191

Other Benefit Plans - Narrative

Other Benefit Plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended		37 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock under dividend reinvestment plan (in shares)	17,971	34,737
Issue of common stock under dividend reinvestment plan, price per share (USD per share)	$ 21.68	$ 14.67
Salary continuation agreement, annual benefit	$ 25		$ 25
Salary continuation agreement, annual benefit, duration	20 years
Salary continuation agreement, liability	$ 312	$ 241	$ 312
Salary continuation agreement, period expense	$ 71	82
Employer contribution over employees' gross pay (in percentage)	3.00%
Expense recognized in relation of plan, amount	$ 2,487	$ 1,978
Employee Stock Ownership Plan (ESOP), percent of eligible employee salary approved for contribution	1.00%	2.00%
Stock based compensation expense	$ 490	$ 395
ESOP contribution	366	260
Issuance of common stock under employee stock ownership plan (in shares)			57,620
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expense recognized in relation to the Non-Qualified Stock Purchase Plan	$ 80	$ 43

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Current tax provision:
Federal	$ 3,852	$ 5,088
State	503	1,693
Total Current tax provision	4,355	6,781
Deferred expense (benefit):
Federal	2,727	(2,902)
State	778	(804)
Total deferred expense (benefit):	3,505	(3,706)
Total income tax expense	$ 7,860	$ 3,075

Income Taxes - Effective Tax Ra

Income Taxes - Effective Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Federal tax based on federal corporate statutory rate		$ 6,820	$ 3,313
State tax, net of federal effect		1,012	702
Changes resulting from:
CARES Act tax benefit	$ (968)	0	(968)
Other, net		28	28
Total income tax expense		$ 7,860	$ 3,075

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Allowance for loan losses	$ 3,238	$ 5,364
Deferred loan fees	274	3,358
Discount on loans sold	934	1,396
Operating lease liabilities	1,143	995
Accrued bonuses	534	454
Other	962	598
Total gross deferred tax assets	7,085	12,165
Deferred tax liabilities:
Mortgage banking fair value adjustments	(1,074)	(2,861)
SBA loan servicing rights	(1,542)	(2,068)
Deferred loan costs	(2,193)	(1,884)
Right-of-use operating lease assets	(1,094)	(947)
Depreciation	(693)	(597)
Other	(35)	0
Total gross deferred tax liabilities	(6,631)	(8,357)
Net deferred tax asset	$ 454	$ 3,808

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
CARES Act income tax benefit	$ 968	$ 0	$ 968

Regulatory Matters - Schedule o

Regulatory Matters - Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations (Details) $ in Thousands	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Total Capital
Total Capital, Actual	$ 106,002	$ 78,824
Total Capital, Actual, Ratio	0.2125	0.1702
Total Capital, Required for Capital Adequacy Purposes	$ 39,909	$ 37,056
Total Capital, Required for Capital Adequacy Purposes, Ratio	0.0800	0.0800
Total Capital, To be Well Capitalized Under Prompt Corrective Action Regulations	$ 49,886	$ 46,320
Total Capital, To be Well Capitalized Under Prompt Corrective Action Regulations, Ratio	0.1000	0.1000
Tier 1 Capital
Tier One Risk-Based Capital, Actual	$ 99,656	$ 72,825
Tier One Risk-Based Capital, Actual, Ratio	0.1998	0.1572
Tier One Risk-Based Capital, Required for Capital Adequacy Purposes	$ 29,932	$ 27,792
Tier One Risk-Based Capital, Required for Capital Adequacy Purposes, Ratio	0.0600	0.0600
Tier One Risk-Based Capital, To be Well Capitalized Under Prompt Corrective Action Regulations	$ 39,909	$ 37,056
Tier One Risk-Based Capital, To be Well Capitalized Under Prompt Corrective Action Regulations, Ratio	0.0800	0.0800
Common Equity Tier 1 Capital
Common Equity Tier One Risk-Based Capital, Actual	$ 99,656	$ 72,825
Common Equity Tier One Risk-Based Capital, Actual, Ratio	0.1998	0.1572
Common Equity Tier One Risk-Based Capital, Required for Capital Adequacy Purposes	$ 22,449	$ 20,844
Common Equity Tier One Risk-Based Capital, Required for Capital Adequacy Purposes, Ratio	0.0450	0.0450
Common Equity Tier One Risk-Based Capital, To be Well Capitalized Under Prompt Corrective Action Regulations	$ 32,426	$ 30,108
Common Equity Tier One Risk-Based Capital To be Well Capitalized Under Prompt Corrective Action Regulations, Ratio	0.0650	0.0650
Tier 1 Capital
Tier One Leverage Capital, Actual	$ 99,656	$ 72,825
Tier One Leverage Capital, Actual, Ratio	0.1222	0.1175
Tier One Leverage Capital, Required for Capital Adequacy Purposes	$ 32,619	$ 24,799
Tier One Leverage Capital, Required for Capital Adequacy Purposes, Ratio	0.0400	0.0400
Tier One Leverage Capital, To be Well Capitalized Under Prompt Corrective Action Regulations	$ 40,774	$ 30,998
Tier One Leverage Capital, To be Well Capitalized Under Prompt Corrective Action Regulations, Ratio	0.0500	0.0500

Mortgage Banking Activities - S

Mortgage Banking Activities - Schedule of components of residential loan fee income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Net gains on sales of residential loans held for sale	$ 89,578	$ 88,336
Mortgage banking fees	9,864	8,697
Residential loan fee income	95,543	92,678
Interest rate lock commitments
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Net change in fair value	(6,194)	6,536
Forward sales contracts
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Net change in fair value	7,229	(16,940)
Residential loans held for sale
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Net gains on sales of residential loans held for sale	89,578	88,336
SBA loan fair value gain	$ (4,934)	$ 6,049

Mortgage Banking Activities - N

Mortgage Banking Activities - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Derivative asset, fair value	$ 1,550	$ 7,620
Derivative liability, fair value	189	4,467
Interest rate lock commitments
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Derivative, notional amount	108,122	398,722
Mandatory forward sales contracts
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Derivative, notional amount	142,500	514,000
Best efforts forward sales contracts
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items]
Derivative, notional amount	$ 7,375	$ 19,803

Mortgage Banking Activities -_2

Mortgage Banking Activities - Schedule of net gains (losses) relating to free-standing derivative instruments used for risk management (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Mandatory forward sales contracts
Derivative [Line Items]
Derivative, gain (loss)	$ (78)	$ (4,455)
Best efforts forward sales contracts
Derivative [Line Items]
Derivative, gain (loss)	27	55
Interest rate lock commitments
Derivative [Line Items]
Derivative, gain (loss)	$ 1,412	$ 7,553

Mortgage Banking Activities -_3

Mortgage Banking Activities - Schedule of notional amount and fair value of mortgage banking derivatives (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Derivative asset, fair value	$ 1,550	$ 7,620
Derivative liability, fair value	189	4,467
Other assets | Interest rate lock commitments
Derivative [Line Items]
Derivative asset, notional amount	103,572	390,676
Derivative asset, fair value	1,435	7,565
Other assets | Mandatory forward sales contracts
Derivative [Line Items]
Derivative asset, notional amount	60,000	0
Derivative asset, fair value	88	0
Other assets | Best efforts forward sales contracts
Derivative [Line Items]
Derivative asset, notional amount	7,375	19,803
Derivative asset, fair value	27	55
Other liabilities | Interest rate lock commitments
Derivative [Line Items]
Derivative liability, notional amount	4,550	8,046
Derivative liability, fair value	23	12
Other liabilities | Mandatory forward sales contracts
Derivative [Line Items]
Derivative liability, notional amount	82,500	514,000
Derivative liability, fair value	$ 166	$ 4,455

Related Party Transactions - Lo

Related Party Transactions - Loans to Principal Officers, Directors and their Affiliates (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Loans and Leases Receivable, Related Parties [Roll Forward]
Balance	$ 10,028
New loans	347
Repayments	(3,061)
Balance	$ 7,314

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Related Party Transactions [Abstract]
Deposits, related parties	$ 7,112	$ 5,774
Related party leasing transactions
Related Party Transaction [Line Items]
Expenses from transactions with related parties	539	409
Related party insurance transactions
Related Party Transaction [Line Items]
Expenses from transactions with related parties	$ 299	$ 427

Loan Commitments and Other Re_3

Loan Commitments and Other Related Activities - Summary of Financial Instruments With Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Unfunded loan commitments
Other Commitments [Line Items]
Financial commitments, contractual amount	$ 18,567	$ 34,867
Unused lines of credit
Other Commitments [Line Items]
Financial commitments, contractual amount	52,076	34,063
Standby letters of credit
Other Commitments [Line Items]
Financial commitments, contractual amount	$ 68	$ 68

Loan Commitments and Other Re_4

Loan Commitments and Other Related Activities - Narrative (Details)	12 Months Ended
	Dec. 31, 2021
Unfunded loan commitments
Other Commitments [Line Items]
Unfunded loan commitment period	90 days

Earnings Per Common Share - Sch

Earnings Per Common Share - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Basic:
Net income	$ 24,618	$ 12,703
Less: Preferred stock dividends	1,005	863
Net income available to common shareholders	$ 23,613	$ 11,840
Weighted average common shares outstanding (in shares)	3,802,935	3,430,716
Basic earnings per common share (in USD per share)	$ 6.21	$ 3.45
Diluted:
Net income	$ 24,618	$ 12,703
Less: Preferred stock dividends	1,005	863
Add: Series B preferred stock dividends	429	186
Net income available to common shareholders	$ 24,042	$ 12,026
Weighted average common shares outstanding for basic earnings per common share (in shares)	3,802,935	3,430,716
Add: Dilutive effects of conversion of Series B preferred stock to common stock (in shares)	270,743	570,607
Add: Dilutive effects of assumed exercises of stock options (in shares)	111,905	0
Average shares and dilutive potential common shares (in shares)	4,185,583	4,001,323
Dilutive earnings per common share (in USD per share)	$ 5.74	$ 3.01

Earnings Per Common Share - Nar

Earnings Per Common Share - Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Antidilutive shares excluded from computation of diluted EPS (in shares)	0	94,865

Operating Segments - Narrative

Operating Segments - Narrative (Details)	12 Months Ended
	Dec. 31, 2021segment
Segment Reporting [Abstract]
Number of reportable segments	2

Operating Segments - Schedule o

Operating Segments - Schedule of information about reportable segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest income	$ 47,543	$ 43,730
Interest expense	7,300	10,278
Net interest income	40,243	33,452
Provision for loan losses	(3,500)	16,900
Residential loan fee income	95,543	92,678
Internal transfer for portfolio loans originated	0	0
Noninterest Income, Other Miscellaneous	22,034	5,017
Total noninterest income	117,577	97,695
Total noninterest expense	128,842	98,469
Income before income tax expense	32,478	15,778
Income tax expense	7,860	3,075
Net income	24,618	12,703
Total assets	917,095	1,544,691
Operating Segments | Residential Mortgage
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest income	3,717	2,684
Interest expense	2,480	1,914
Net interest income	1,237	770
Provision for loan losses	0	0
Residential loan fee income	95,543	92,678
Internal transfer for portfolio loans originated	336	35
Noninterest Income, Other Miscellaneous	49	64
Total noninterest income	95,928	92,777
Total noninterest expense	80,279	65,229
Income before income tax expense	16,886	28,318
Income tax expense	4,661	7,929
Net income	12,225	20,389
Total assets	115,810	217,422
Operating Segments | Banking
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest income	43,826	41,046
Interest expense	4,820	8,364
Net interest income	39,006	32,682
Provision for loan losses	(3,500)	16,900
Residential loan fee income	0	0
Internal transfer for portfolio loans originated	(336)	(35)
Noninterest Income, Other Miscellaneous	21,985	4,953
Total noninterest income	21,649	4,918
Total noninterest expense	48,563	33,240
Income before income tax expense	15,592	(12,540)
Income tax expense	3,199	(4,854)
Net income	12,393	(7,686)
Total assets	$ 801,285	$ 1,327,269

Parent Company Only Condensed_3

Parent Company Only Condensed Financial Information - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets:
Loans held for investment, at amortized cost	$ 560,882	$ 1,197,896
Other assets	15,780	15,361
Total assets	917,095	1,544,691
Liabilities:
Subordinated debentures	5,985	5,948
Notes payable	3,299	3,754
Accrued interest payable	326	1,999
Accrued expenses and other liabilities	15,109	17,950
Total liabilities	820,805	1,473,622
Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 3,981,117 and 3,485,018 shares issued and outstanding at December 31, 2021 and December 31, 2020	51,496	43,043
Accumulated other comprehensive income (loss), net	(420)	0
Unearned compensation	(17)	(41)
Retained earnings	35,947	13,390
Total shareholders’ equity	96,290	71,069	$ 51,332
Total liabilities and shareholders’ equity	$ 917,095	$ 1,544,691
Balance Sheet, Parenthetical Information [Abstract]
Common stock and additional paid-in capital, shares authorized (in shares)	15,000,000	15,000,000
Common stock and additional paid-in capital, shares issued (in shares)	3,981,117	3,485,018
Common stock and additional paid-in capital, shares outstanding (in shares)	3,981,117	3,485,018
Parent Company
Assets:
Cash on deposit with subsidiary	$ 2,551	$ 2,438
Loans held for investment, at amortized cost	36	63
Investment in subsidiary	103,481	78,410
Other assets	158	53
Total assets	106,226	80,964
Liabilities:
Subordinated debentures	5,985	5,948
Notes payable	3,299	3,754
Accrued interest payable	8	8
Accrued expenses and other liabilities	644	185
Total liabilities	9,936	9,895
Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 3,981,117 and 3,485,018 shares issued and outstanding at December 31, 2021 and December 31, 2020	51,496	43,043
Accumulated other comprehensive income (loss), net	(420)	0
Unearned compensation	(17)	(41)
Retained earnings	35,947	13,390
Total shareholders’ equity	96,290	71,069
Total liabilities and shareholders’ equity	$ 106,226	$ 80,964
Balance Sheet, Parenthetical Information [Abstract]
Common stock and additional paid-in capital, shares authorized (in shares)	15,000,000	15,000,000
Common stock and additional paid-in capital, shares issued (in shares)	3,981,117	3,485,018
Common stock and additional paid-in capital, shares outstanding (in shares)	3,981,117	3,485,018
Preferred Shares, Series A
Liabilities:
Preferred stock	$ 6,161	$ 6,161
Balance Sheet, Parenthetical Information [Abstract]
Preferred stock, shares authorized (in shares)	10,000	10,000
Preferred stock, shares issued (in shares)	6,395	6,395
Preferred stock, shares outstanding (in shares)	6,395	6,395
Preferred stock, aggregate liquidation preference	$ 6,395	$ 6,395
Preferred Shares, Series A | Parent Company
Liabilities:
Preferred stock	$ 6,161	$ 6,161
Balance Sheet, Parenthetical Information [Abstract]
Preferred stock, shares authorized (in shares)	10,000	10,000
Preferred stock, shares issued (in shares)	6,395	6,395
Preferred stock, shares outstanding (in shares)	6,395	6,395
Preferred stock, aggregate liquidation preference	$ 6,395	$ 6,395
Preferred Shares, Series B
Liabilities:
Preferred stock	$ 3,123	$ 8,516
Balance Sheet, Parenthetical Information [Abstract]
Preferred stock, shares authorized (in shares)	20,000	20,000
Preferred stock, shares issued (in shares)	3,210	8,760
Preferred stock, shares outstanding (in shares)	3,210	8,760
Preferred stock, aggregate liquidation preference	$ 3,210	$ 8,760
Preferred Shares, Series B | Parent Company
Liabilities:
Preferred stock	$ 3,123	$ 8,516
Balance Sheet, Parenthetical Information [Abstract]
Preferred stock, shares authorized (in shares)	20,000	20,000
Preferred stock, shares issued (in shares)	3,210	8,760
Preferred stock, shares outstanding (in shares)	3,210	8,760
Preferred stock, aggregate liquidation preference	$ 3,210	$ 8,760

Parent Company Only Condensed_4

Parent Company Only Condensed Financial Information - Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Expense:
Interest expense	$ 7,300	$ 10,278
Income tax expense	7,860	3,075
Net income	24,618	12,703
Parent Company
Income:
Dividend income from bank subsidiary	1,000	0
Expense:
Interest expense	567	596
Other expenses	1,279	397
Total noninterest expense	1,846	993
Income before income tax expense	(846)	(993)
Income tax expense	(434)	(298)
Loss before equity in earnings of subsidiary	(412)	(695)
Equity in undistributed earnings of subsidiary	25,030	13,398
Net income	$ 24,618	$ 12,703

Parent Company Only Condensed_5

Parent Company Only Condensed Financial Information - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 24,618	$ 12,703
Adjustments to reconcile net income to net cash from operating activities:
Amortization of debt issuance costs	105	32
Stock based compensation expense	461	373
Other assets	(1,225)	(13,181)
Net cash from (used in) operating activities	101,212	(107,822)
Cash flows from investing activities:
Loan (originations) and payments, net	282,944
Net cash from (used in) investing activities	601,861	(933,379)
Cash flows from financing activities:
Payments on notes payable	(455)	(342)
Proceeds from issuance of subordinated debt, net of costs	5,932	0
Redemption of subordinated debt	(6,000)	(1,000)
Proceeds from issuance of preferred stock, net	727	6,516
Proceeds from sale of common stock, net	1,850	916
ESOP contribution	366	260
Unearned ESOP shares allocation	(371)	0
Dividends paid on common stock	(1,056)	(915)
Dividends paid on preferred stock	(1,005)	(863)
Net cash from financing activities	(648,725)	986,000
Net change in cash and cash equivalents	54,348	(55,201)
Cash and cash equivalents, beginning of period	55,379	110,580
Cash and cash equivalents, end of period	109,727	55,379
Supplemental noncash disclosures
Conversion of subordinated debt to Series B preferred stock	0	500
Preferred Shares, Series B
Supplemental noncash disclosures
Conversion of stock	6,120	0
Preferred Shares, Series A
Supplemental noncash disclosures
Conversion of stock	0	1,500
Parent Company
Cash flows from operating activities:
Net income	24,618	12,703
Adjustments to reconcile net income to net cash from operating activities:
Equity in undistributed earnings of subsidiary	(25,030)	(13,398)
Amortization of debt issuance costs	105	13
Stock based compensation expense	51	24
Other assets	(105)	(8)
Change in other liabilities and accrued interest payable	459	67
Net cash from (used in) operating activities	98	(599)
Cash flows from investing activities:
Contributions to subsidiary	0	(4,500)
Loan (originations) and payments, net	27	9
Net cash from (used in) investing activities	27	(4,491)
Cash flows from financing activities:
Payments on notes payable	(455)	(342)
Proceeds from issuance of subordinated debt, net of costs	5,932	0
Redemption of subordinated debt	(6,000)	0
Proceeds from issuance of preferred stock, net	727	6,516
Proceeds from sale of common stock, net	1,850	1,096
ESOP contribution	366	260
Unearned ESOP shares allocation	(371)	0
Dividends paid on common stock	(1,056)	(915)
Dividends paid on preferred stock	(1,005)	(863)
Net cash from financing activities	(12)	5,752
Net change in cash and cash equivalents	113	662
Cash and cash equivalents, beginning of period	2,438	1,776
Cash and cash equivalents, end of period	2,551	2,438
Supplemental noncash disclosures
Conversion of subordinated debt to Series B preferred stock	0	500
Parent Company | Preferred Shares, Series B
Supplemental noncash disclosures
Conversion of stock	6,120	0
Parent Company | Preferred Shares, Series A
Supplemental noncash disclosures
Conversion of stock	$ 0	$ 1,500