BAYFIRST FINANCIAL CORP., 10-Q filed on 11/12/2025
Quarterly Report
v3.25.3
Cover - shares
 9 Months Ended
Sep. 30, 2025
Nov. 05, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2025  
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 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  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   4,110,003
Entity Central Index Key 0001649739  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Amendment Flag false  
v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 5,193 $ 4,499
Interest-bearing deposits in banks 113,357 73,289
Cash and cash equivalents 118,550 77,788
Time deposits in banks 1,284 2,270
Investment securities available for sale, at fair value (amortized cost: $32,614 and $40,279 at September 30, 2025 and December 31, 2024, respectively) 29,857 36,291
Investment securities held to maturity, at amortized cost, net of allowance for credit losses of $9 and $12 (fair value: $2,375 and $2,346 at September 30, 2025 and December 31, 2024, respectively) 2,491 2,488
Nonmarketable equity securities 7,028 4,526
Government guaranteed loans HFI, at fair value 61,780 60,833
Loans HFI, at amortized cost 936,903 1,005,726
Allowance for credit losses on loans (24,485) (15,512)
Net loans HFI, at amortized cost 912,418 990,214
Accrued interest receivable 8,898 9,155
Premises and equipment, net 31,695 33,249
Loan servicing rights 15,663 16,534
Deferred income tax asset 5,839 0
Right-of-use operating lease assets 14,833 15,814
Bank owned life insurance 27,071 26,513
Other real estate owned 400 132
Other assets 14,119 12,490
Total assets 1,345,978 1,288,297
Liabilities:    
Noninterest-bearing deposit accounts 105,937 101,743
Interest-bearing transaction accounts 210,336 256,793
Savings and money market deposit accounts 479,262 474,425
Time deposits 375,922 310,268
Total deposits 1,171,457 1,143,229
FHLB borrowings 50,000 0
Subordinated notes 5,961 5,956
Notes payable 1,593 1,934
Accrued interest payable 1,082 1,036
Operating lease liabilities 13,554 14,510
Deferred income tax liabilities 0 301
Accrued expenses and other liabilities 12,603 10,411
Total liabilities 1,256,250 1,177,377
Shareholders’ equity:    
Common stock and additional paid-in capital; no par value, 15,000,000 shares authorized, 4,116,913 and 4,132,986 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 54,764 54,764
Accumulated other comprehensive loss, net (2,069) (2,956)
Unearned compensation (538) (752)
Retained earnings 21,841 44,134
Total shareholders’ equity 89,728 110,920
Total liabilities and shareholders’ equity 1,345,978 1,288,297
Preferred Stock, Series A    
Shareholders’ equity:    
Preferred stock 6,161 6,161
Preferred Stock, Series B    
Shareholders’ equity:    
Preferred stock 3,123 3,123
Preferred Stock, Series C    
Shareholders’ equity:    
Preferred stock 6,446 6,446
Government guaranteed loans held for sale    
ASSETS    
Government guaranteed loans held for sale $ 94,052 $ 0
v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
ASSETS    
Amortized cost $ 32,614 $ 40,279
Allowance for credit loss for HTM securities 9 12
Fair
Value $ 2,375 $ 2,346
Shareholders’ equity:    
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) 4,116,913 4,132,986
Common stock and additional paid-in capital, shares outstanding (in shares) 4,116,913 4,132,986
Preferred Stock, Series A    
Shareholders’ equity:    
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 Stock, Series B    
Shareholders’ equity:    
Preferred stock, shares authorized (in shares) 20,000 20,000
Preferred stock, shares issued (in shares) 3,210 3,210
Preferred stock, shares outstanding (in shares) 3,210 3,210
Preferred stock, aggregate liquidation preference $ 3,210 $ 3,210
Preferred Stock, Series C    
Shareholders’ equity:    
Preferred stock, shares authorized (in shares) 10,000 10,000
Preferred stock, shares issued (in shares) 6,446 6,446
Preferred stock, shares outstanding (in shares) 6,446 6,446
Preferred stock, aggregate liquidation preference $ 6,446 $ 6,446
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest income:        
Loans, including fees $ 20,708 $ 20,442 $ 61,918 $ 58,084
Interest-bearing deposits in banks and other 946 1,000 2,926 2,972
Total interest income 21,654 21,442 64,844 61,056
Interest expense:        
Deposits 9,576 11,609 28,289 32,272
Borrowings 798 384 1,928 1,411
Total interest expense 10,374 11,993 30,217 33,683
Net interest income 11,280 9,449 34,627 27,373
Provision for credit losses 10,915 3,122 22,579 10,180
Net interest income after provision for credit losses 365 6,327 12,048 17,193
Noninterest income:        
Loan servicing income, net 761 918 1,981 2,518
Gain on sale of government guaranteed loans, net 3,063 6,143 16,526 19,827
Service charges and fees 474 447 1,396 1,343
Government guaranteed loans fair value gain (loss), net (882) 3,416 805 9,923
Fair value adjustment on loans held for sale (5,096) 0 (5,096) 0
Government guaranteed loan packaging fees 380 903 1,673 3,332
Other noninterest income 254 445 1,215 1,250
Total noninterest income (1,046) 12,272 18,500 38,193
Noninterest expense:        
Salaries and benefits 7,637 7,878 23,748 23,712
Bonus, commissions, and incentives 530 1,141 863 3,371
Occupancy and equipment 1,525 1,248 4,738 3,631
Data processing 2,049 1,789 6,172 4,996
Marketing and business development 262 532 1,152 1,660
Professional services 859 853 2,373 3,079
Loan origination and collection 3,273 1,956 6,866 5,633
Employee recruiting and development 364 595 1,443 1,741
Regulatory assessments 484 309 1,175 870
Restructure charges 7,262 0 7,262 0
Other noninterest expense 970 763 2,764 2,754
Total noninterest expense 25,215 17,064 58,556 51,447
Income (loss) from continuing operations before income taxes (25,896) 1,535 (28,008) 3,939
Income tax expense (benefit) from continuing operations (6,994) 398 (7,534) 1,043
Net income (loss) from continuing operations (18,902) 1,137 (20,474) 2,896
Loss from discontinued operations before income taxes 0 0 0 (92)
Income tax benefit from discontinued operations 0 0 0 (23)
Net loss from discontinued operations 0 0 0 (69)
Net income (loss) (18,902) 1,137 (20,474) 2,827
Preferred stock dividends 385 385 1,156 1,156
Net income available to (loss attributable to) common shareholders $ (19,287) $ 752 $ (21,630) $ 1,671
Basic earnings (loss) per common share:        
Continuing operations (in dollars per share) $ (4.66) $ 0.18 $ (5.23) $ 0.42
Discontinued operations (in dollars per share) 0 0 0 (0.02)
Total basic earnings (loss) per common share (in dollars per share) (4.66) 0.18 (5.23) 0.40
Diluted earnings (loss) per common share:        
Continuing operations (in dollars per share) (4.66) 0.18 (5.23) 0.42
Discontinued operations (in dollars per share) 0 0 0 (0.02)
Total diluted earnings (loss) per common share (in dollars per share) $ (4.66) $ 0.18 $ (5.23) $ 0.40
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ (18,902) $ 1,137 $ (20,474) $ 2,827
Net unrealized gains (losses) on investment securities available for sale 397 1,074 1,231 902
Deferred income tax expense (98) (273) (344) (233)
Other comprehensive income, net 299 801 887 669
Comprehensive income (loss) $ (18,603) $ 1,938 $ (19,587) $ 3,496
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Preferred Stock
Preferred Stock, Series A
Preferred Stock
Preferred Stock, Series B
Preferred Stock
Preferred Stock, Series C
Common Stock, Additional Paid-in Capital, and Unearned Compensation
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Beginning balance at Dec. 31, 2023 $ 100,707 $ 6,161 $ 3,123 $ 6,446 $ 53,563 $ (2,981) $ 34,395
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 2,827           2,827
Unearned ESOP shares allocation (44)       (44)    
Stock-based awards - common stock:              
Restricted stock expense, net of tax impact 252       252    
Stock option expense 31       31    
Other comprehensive income (loss), net 669         669  
Dividends declared on:              
Preferred stock (1,156)           (1,156)
Common stock (993)           (993)
Ending balance at Sep. 30, 2024 102,293 6,161 3,123 6,446 53,802 (2,312) 35,073
Beginning balance at Jun. 30, 2024 100,962 6,161 3,123 6,446 53,692 (3,113) 34,653
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 1,137           1,137
Stock-based awards - common stock:              
Restricted stock expense, net of tax impact 101       101    
Stock option expense 9       9    
Other comprehensive income (loss), net 801         801  
Dividends declared on:              
Preferred stock (385)           (385)
Common stock (332)           (332)
Ending balance at Sep. 30, 2024 102,293 6,161 3,123 6,446 53,802 (2,312) 35,073
Beginning balance at Dec. 31, 2024 110,920 6,161 3,123 6,446 54,012 (2,956) 44,134
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (20,474)           (20,474)
Non-qualified stock purchase plan 38       38    
Repurchase of common stock (335)       (335)    
Unearned ESOP shares allocation 368       368    
Stock-based awards - common stock:              
Restricted stock expense, net of tax impact 65       65    
Stock option expense 78       78    
Other comprehensive income (loss), net 887         887  
Dividends declared on:              
Preferred stock (1,156)           (1,156)
Common stock (663)           (663)
Ending balance at Sep. 30, 2025 89,728 6,161 3,123 6,446 54,226 (2,069) 21,841
Beginning balance at Jun. 30, 2025 108,223 6,161 3,123 6,446 53,733 (2,368) 41,128
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (18,902)           (18,902)
Non-qualified stock purchase plan 38       38    
Unearned ESOP shares allocation 368       368    
Stock-based awards - common stock:              
Restricted stock expense, net of tax impact 83       83    
Stock option expense 4       4    
Other comprehensive income (loss), net 299         299  
Dividends declared on:              
Preferred stock (385)           (385)
Ending balance at Sep. 30, 2025 $ 89,728 $ 6,161 $ 3,123 $ 6,446 $ 54,226 $ (2,069) $ 21,841
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED) (Parenthetical) - $ / shares
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Stockholders' Equity [Abstract]      
Dividend declared on common stock (in dollars per share) $ 0.08 $ 0.16 $ 0.24
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income (loss) from continuing operations $ (20,474) $ 2,896
Net loss from discontinued operations 0 (69)
Net income (loss) (20,474) 2,827
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation of fixed assets 1,657 1,847
Net securities premium amortization 34 89
Amortization of debt issuance costs 5 5
Amortization of premium on loans purchased, net 863 596
Provision for credit losses 22,579 10,180
Accretion of discount on unguaranteed loans (2,919) (2,207)
Deferred tax expense (benefit) (189) 772
Origination of government guaranteed loans held for sale 0 (2,821)
Proceeds from sales of government guaranteed loans held for sale 196,745 306,139
Net gains on sales of government guaranteed loans (16,526) (19,827)
Fair value adjustment on loans held for sale 5,096 0
Change in fair value of government guaranteed loans HFI, at fair value (805) (9,923)
Amortization of loan servicing rights 5,360 4,389
Gain on other real estate owned (423) 0
Loss on sale of repossessed assets 9 0
Non-qualified stock purchase plan expense 13 18
Stock based compensation expense 143 283
Income from bank owned life insurance (558) (530)
Impairment of equipment and software 1,422 0
Changes in:    
Accrued interest receivable 257 (1,407)
Other assets (8,207) 4,100
Accrued interest payable 46 232
Other liabilities 636 (1,418)
Net cash provided by operating activities of continuing operations 184,764 293,413
Net cash used in operating activities of discontinued operations 0 (341)
Net cash provided by operating activities 184,764 293,072
Cash flows from investing activities:    
Purchase of investment securities available for sale (5,718) (4,458)
Principal payments on investment securities available for sale 2,240 6,862
Principal payments on investment securities held to maturity 0 1
Call of investment securities held to maturity 11,109 0
Net purchase of nonmarketable equity securities (2,502) (227)
Purchase of time deposits in banks (14) (14)
Maturity of time deposits in banks 1,000 2,396
Purchase of government guaranteed loans 0 (812)
Loan originations, net (226,566) (414,023)
Purchase related to other real estate owned 0 (1,229)
Purchase of premises and equipment (276) (1,709)
Proceeds on sales of other real estate owned 155 1,633
Proceeds on sales of repossessed assets 59 0
Net cash used in investing activities (220,513) (411,580)
Cash flows from financing activities:    
Net change in deposits 28,228 127,058
Net increase in short-term borrowings 50,000 0
Payments on notes payable (341) (341)
Proceeds from issuance of common stock for benefit plans, net 25 (18)
Common share buyback - redeemed stock (335) 0
Unearned ESOP shares 368 (44)
Dividends paid on common stock (663) (993)
Dividends paid on preferred stock (771) (1,156)
Net cash provided by financing activities 76,511 124,506
Net change in cash and cash equivalents 40,762 5,998
Cash and cash equivalents, beginning of period 77,788 58,385
Cash and cash equivalents, end of period 118,550 64,383
Supplemental cash flow information    
Interest paid 30,171 33,451
Income taxes paid 5,296 8
Supplemental noncash disclosures    
Net change in unrealized holding gains (losses) on investment securities available for sale, net of tax effect 887 669
Accumulated unpaid preferred dividends (385) 0
Transfer of government guaranteed loans HFI to loans HFS 283,856 289,482
Transfer of loans HFI to OREO 0 404
Transfer of loans HFI to repossessed assets 53 0
Recognition of right of use asset in exchange for new operating lease liabilities $ 0 $ 296
v3.25.3
BASIS OF PRESENTATION
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
BASIS OF PRESENTATION BASIS OF PRESENTATION
The accompanying unaudited condensed consolidated financial statements include BayFirst Financial Corp. and its wholly owned subsidiary, BayFirst National Bank (“the Bank”), together referred to as “the Company”.
These unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles followed within the financial services industry for interim financial information and Article 8 of Regulation S-X. Accordingly, certain information and note disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to these rules and regulations. The consolidated balance sheet as of December 31, 2024 has been derived from the audited consolidated financial statements of BayFirst Financial Corp. for that date.
The Company currently operates one business segment. In the third quarter of 2022, the Company discontinued the Bank’s nationwide residential mortgage loan segment. The operations of this segment are reported as discontinued operations.
In the opinion of management, all adjustments, consisting of normal and recurring items, considered necessary for a fair presentation of the condensed consolidated financial statements for the interim periods have been included. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain amounts reported in prior periods have been reclassified to conform to current year presentation. These reclassifications did not have a material effect on previously reported net income, shareholders’ equity, or cash flows.
Operating results for the nine months ended September 30, 2025 are not necessarily indicative of the results that may be expected for the year ending December 31, 2025. These statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2024.
The Company’s significant accounting policies are described in Note 1 of the Notes to Consolidated Financial Statements for the year ended December 31, 2024 in the Company’s Annual Report filed on Form 10-K. For interim reporting purposes, the Company follows the same basic accounting policies and considers each interim period as an integral part of an annual period.
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 ACL, government guaranteed loan servicing rights, and fair value of government guaranteed loans HFI.
Emerging Growth Company Status: The Company is expected to remain an "emerging growth company," 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. The Company has elected to take advantage of this extended transition period, which means these financial statements, as well as financial statements they file in the future for as long as the Company remains 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 is at times engaged in various legal proceedings that arise in the course of normal business, some of which were outstanding as of September 30, 2025. Although the ultimate outcome of all claims and lawsuits outstanding as of September 30, 2025 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:
In October 2023, the FASB issued ASU No. 2023-06 “Disclosure Improvements - Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative” (“ASU 2023-06”). ASU 2023-06 amends the ASC to incorporate certain disclosure requirements from SEC Release No. 33-10532 - Disclosure Update and Simplification that was issued in 2018. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company does not believe this standard will have a material impact on its Consolidated Financial Statements.
In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures ("ASU 2023-09"). This ASU was issued to enhance the transparency and decision usefulness of income tax disclosures. The ASU addresses investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. Retrospective application in all prior periods is permitted. The amendments in this standard will be effective for the Company for annual periods beginning after December 15, 2025. The Company is currently assessing the impact of this standard and does not expect it to have a material impact on the Company’s consolidated financial statements.
In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Disaggregation of Income Statement Expenses Disclosure (“ASU 2024-03”). This ASU was issued to improve the disclosures about public business entity’s expenses and address investor’s requests for more detailed information about the types of expenses (including purchases of inventory, employee compensation, depreciation, amortization, and depletion) in commonly presented expense captions. The amendments in this standard will be effective for the Company for the fiscal year ended December 31, 2027 and subsequent interim periods. The amendments should be applied either prospectively to the financial statements issued for reporting periods after the effective date of this update or retrospectively to any and all prior periods presented in the financial statements. We are currently evaluating the impact these changes may have on the Company’s consolidated financial statements.
v3.25.3
DISCONTINUED OPERATIONS
 9 Months Ended
Sep. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS DISCONTINUED OPERATIONS
During the third quarter of 2022, the Company discontinued the Bank’s nationwide residential mortgage loan production operations. The decision was based on a number of strategic priorities and other factors, including the precipitous decline in mortgage volumes and the uncertain outlook for mortgage lending over future periods. As a result of these actions, the Company classified the operations of the residential mortgage lending division as discontinued under ASC 205-20. There were no assets or liabilities for the discontinued operations of the residential mortgage lending division at September 30, 2025 and December 31, 2024 or operating results for the current period.
The following presents operating results of the discontinued operations of the residential mortgage lending division for the three and nine months ended September 30, 2024:
Three Months Ended September 30,Nine Months Ended September 30,
20242024
Noninterest income$— $51 
Total net revenue— 51 
Noninterest expense— 143 
Loss from discontinued operations before income taxes— (92)
Income tax benefit— (23)
Net loss from discontinued operations$— $(69)
v3.25.3
INVESTMENT SECURITIES
 9 Months Ended
Sep. 30, 2025
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 and investment securities held to maturity at September 30, 2025 and December 31, 2024 as well as the ACL for investment securities held to maturity at September 30, 2025 and December 31, 2024 are summarized as follows:
September 30, 2025Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Investment securities available for sale:
Asset-backed securities
$2,942 $4 $(16)$2,930 
Mortgage-backed securities:
U.S. Government-sponsored enterprises
5,390 15 (439)4,966 
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises
20,442 20 (2,382)18,080 
Corporate bonds3,840 41 — 3,881 
Total investment securities available for sale
$32,614 $80 $(2,837)$29,857 
September 30, 2025Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value		ACL
Investment securities held to maturity:
Corporate bonds$2,500 $— $(125)$2,375 $9 
Total investment securities held to maturity
$2,500 $— $(125)$2,375 $9 
December 31, 2024Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Investment securities available for sale:
Asset-backed securities
$5,029 $— $(39)$4,990 
Mortgage-backed securities:
U.S. Government-sponsored enterprises
7,791 — (661)7,130 
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises
18,627 — (3,341)15,286 
Corporate bonds8,832 53 — 8,885 
Total investment securities available for sale
$40,279 $53 $(4,041)$36,291 
December 31, 2024Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value		ACL
Investment securities held to maturity:
Corporate bonds$2,500 $— $(154)$2,346 $12 
Total investment securities held to maturity
$2,500 $— $(154)$2,346 $12 
`
The amortized cost and fair value of investment securities as of September 30, 2025 are shown in the table below by contractual maturity. Actual timing may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties.
Available for SaleHeld to Maturity
Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
One to five years$3,840 $3,881$1,500 $1,494
Five to ten years— —1,000 881
Beyond ten years28,774 25,976— —
Total$32,614 $29,857$2,500 $2,375
No ACL for investment securities AFS was needed at September 30, 2025 or December 31, 2024. Declines in the fair value of the AFS investment portfolio are believed by management to be unrelated to credit losses. When evaluating an investment for credit loss, management considers, among other things, the financial condition of the issuer through the review of credit ratings and, if necessary, corporate financial statements; adverse conditions specifically related to the security such as past due principal or interest; underlying assets that collateralize the debt security; other economic conditions and demographics; and the intent and ability of the Company to hold the investment until the loss position is recovered. Any unrealized losses were largely due to increases in market interest rates over the yields available at the time of purchase. The fair value is expected to recover as the bonds approach their maturity date or market yields for similar investments decline. Management does not believe any of the securities are impaired due to reasons of credit quality. At September 30, 2025, the Company did not intend to sell and believed it was not likely to be required to sell the available for sale securities that were in a loss position prior to full recovery.
As of September 30, 2025, there were no past due principal and interest payments associated with the HTM securities. The Company monitors the credit quality of debt securities held to maturity quarterly through the use of credit ratings. However, the corporate bonds that are held to maturity have no credit rating and the corporate bonds in an unrealized loss position at September 30, 2025 are not material to the financial statements. There was an ACL of $9 on corporate bonds HTM at September 30, 2025 and $12 at December 31, 2024, which was calculated based on applying the long-term historical credit loss rate for similarly rated securities.
The following table presents the activity in the ACL for investment securities HTM by major security type for the three and nine months ended September 30, 2025 and September 30, 2024:
For the Three Months Ended
For the Nine Months Ended
For the Three Months Ended
For the Nine Months Ended
Corporate BondsSeptember 30, 2025September 30, 2024
Balance at beginning of period$9 $12 $14 $17 
Provision for credit losses on HTM investment securities— (3)(1)(4)
Investment securities charge-offs— — — — 
Investment securities recoveries— — — — 
Balance at end of period$9 $9 $13 $13 
The following table summarizes investment securities with unrealized losses at September 30, 2025 aggregated by security type and length of time in a continuous unrealized loss position:
Less than 12 Months12 Months or LongerTotal
September 30, 2025Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized LossesNumber of Securities
Investment securities available for sale:
Asset-backed securities$— $— $1,469 $(16)$1,469 $(16)1
Mortgage-backed securities:
U.S. Government-sponsored enterprises— — 2,574 (439)2,574 (439)2
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises— — 14,837 (2,382)14,837 (2,382)7
Total investment securities available for sale$— $— $18,880 $(2,837)$18,880 $(2,837)10
Investment securities held to maturity:
Corporate bonds$— $— $2,375 $(125)$2,375 $(125)3
Total investment securities held to maturity$— $— $2,375 $(125)$2,375 $(125)3
The following table summarizes investment securities with unrealized losses at December 31, 2024 aggregated by security type and length of time in a continuous unrealized loss position:
Less than 12 Months12 Months or LongerTotal
December 31, 2024Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized LossesNumber of Securities
Investment securities available for sale:
Asset-backed securities$1,540 $(3)$3,450 $(36)$4,990 $(39)3
Mortgage-backed securities:
U.S. Government-sponsored enterprises4,412 (51)2,718 (610)7,130 (661)3
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises— — 15,286 (3,341)15,286 (3,341)7
Corporate bonds— — — — — — 0
Total investment securities available for sale$5,952 $(54)$21,454 $(3,987)$27,406 $(4,041)13
Investment securities held to maturity:
Corporate bonds$416 $(84)$1,930 $(70)$2,346 $(154)3
Total investment securities held to maturity$416 $(84)$1,930 $(70)$2,346 $(154)3
No investment securities were pledged as of September 30, 2025 or December 31, 2024, and there were no sales of investment securities for the three or nine months ended September 30, 2025 or September 30, 2024.
v3.25.3
LOANS
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
LOANS LOANS
Loans HFI, excluding loans measured at fair value, at September 30, 2025 and December 31, 2024 were as follows:
September 30,
2025		December 31,
2024
Real estate:
Residential
$364,020 $330,870 
Commercial
231,039 305,721 
Construction and land
43,700 32,914 
Commercial and industrial
194,654 226,522 
Commercial and industrial - PPP
13 941 
Consumer and other
90,946 93,826 
Loans HFI, excluding loans measured at fair value, gross
924,372 990,794 
Deferred loan costs, net
17,096 19,499 
Discount on government guaranteed loans(1)
(7,506)(8,306)
Premium on loans purchased, net
2,941 3,739 
Allowance for credit losses
(24,485)(15,512)
Net loans HFI, excluding loans measured at fair value
$912,418 $990,214 
(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.
v3.25.3
ALLOWANCE FOR CREDIT LOSSES
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
ALLOWANCE FOR CREDIT LOSSES ALLOWANCE FOR CREDIT LOSSES
The following schedules present the activity in the ACL by loan segment for the three and nine months ended September 30, 2025 and September 30, 2024:
Three Months EndedReal Estate - ResidentialReal Estate - CommercialReal Estate - Construction and LandCommercial and IndustrialCommercial and Industrial - PPPConsumer and OtherTotal
September 30, 2025
Beginning Balance$1,179 $2,135 $847 $11,106 $— $1,774 $17,041 
Charge-offs(121)— — (3,185)(1)(312)(3,619)
Recoveries— 2 — 191 — 132 325 
Provision1,224 (150)(231)9,526 1 368 10,738 
Ending Balance$2,282 $1,987 $616 $17,638 $— $1,962 $24,485 
September 30, 2024
Beginning Balance$1,234 $1,864 $555 $7,714 $— $2,476 $13,843 
Charge-offs(20)— — (2,375)— (550)(2,945)
Recoveries— 2 — 111 — 75 188 
Provision(41)(3)(41)2,855 — 330 3,100 
Ending Balance$1,173 $1,863 $514 $8,305 $— $2,331 $14,186 
Real Estate - ResidentialReal Estate - CommercialReal Estate - Construction and LandCommercial and IndustrialCommercial and Industrial - PPPConsumer and OtherTotal
Nine Months Ended
September 30, 2025
Beginning Balance$1,181 $2,096 $507 $9,607 $— $2,121 $15,512 
Charge-offs(963)(431)— (11,212)(1)(1,763)(14,370)
Recoveries27 4 — 654 — 291 976 
Provision2,037 318 109 18,589 1 1,313 22,367 
Ending Balance$2,282 $1,987 $616 $17,638 $— $1,962 $24,485 
September 30, 2024
Beginning Balance$1,987 $1,818 $519 $6,579 $— $2,594 $13,497 
Charge-offs(20)(60)— (7,898)— (2,299)(10,277)
Recoveries— 6 — 352 — 249 607 
Provision(794)99 (5)9,272 — 1,787 10,359 
Ending Balance$1,173 $1,863 $514 $8,305 $— $2,331 $14,186 
The ACL represents management’s best estimate of future lifetime expected losses on its HFI loan portfolio. The Company calculates its ACL by estimating expected credit losses on a collective basis for loans that share similar risk characteristics. Loans that do not share similar risk characteristics with other loans are evaluated for credit losses on an individual basis. The Company uses a combination of modeled and non-modeled approaches that incorporates current and future economic
conditions to estimate lifetime expected losses on a collective basis. Individually evaluated loans are evaluated for impairment and 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 adjusted for selling costs as appropriate if repayment is expected solely from the collateral.
The Company uses reasonable and supportable forecasts that are developed with internal and external data. These are updated quarterly by management and utilize data from the FOMC’s median forecasts of change in national GDP and of national unemployment. The FOMC’s forecast of GDP and unemployment for the next calendar year is used in conjunction with the most recent 4 quarters of historical data from FRED (Federal Reserve Economic Data) to determine changes in certain qualitative factors used in calculating loss rates.
See Note 1 and Note 5 of the Notes to Consolidated Financial Statements for further discussion of the Company’s ACL methodology in the December 31, 2024 Form 10-K.
The Company maintains a separate ACL for its off-balance sheet unfunded loan commitments. The ACL on unfunded loan commitments is based on estimates of probability that these commitments will be drawn upon according to historical utilization experience, expected loss severity and loss rates as determined for pooled funded loans. As of September 30, 2025 and December 31, 2024, the ACL for unfunded commitments recorded in other liabilities was $731 and $516, respectively.
The following table presents the activity in the ACL for unfunded commitments for the three and nine months ended September 30, 2025 and September 30, 2024:
For the Three Months Ended
For the Nine Months Ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Balance at beginning of period$554 $641 $516 $839 
Provision for credit losses on unfunded commitments177 23 215 (175)
Unfunded commitments charge-offs— — — — 
Unfunded commitments recoveries— — — — 
Balance at end of period$731 $664 $731 $664 
The following tables present the principal balance of nonaccrual loans and loans past due over 89 days on accrual by loan segment at September 30, 2025 and December 31, 2024. In the following tables, the principal balance does not include the government guaranteed balance or loans measured at fair value.
September 30, 2025
Nonaccrual with no ACL(1)
Nonaccrual with ACL(1)
Loans Past Due Over
89 Days and Accruing(1)
Real estate - residential
$— $4,861 $— 
Real estate - commercial
2,628 4,026 — 
Real estate - construction and land
— 815 
Commercial and industrial
1,160 2,194 — 
Consumer and other
— 83 55 
Total
$3,788 $11,979 $55 
December 31, 2024
Nonaccrual with no ACL(1)
Nonaccrual with ACL(1)
Loans Past Due Over
89 Days and Accruing(1)
Real estate - residential
$— $5,818 $— 
Real estate - commercial
2,709 2,052 — 
Commercial and industrial
— 2,696 — 
Consumer and other— — 295 
Total
$2,709 $10,566 $295 
(1) Excludes loans measured at fair value. See Note 6. Fair Value for additional information.
A financial asset is considered collateral dependent when the debtor is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. Expected credit losses for collateral dependent loans are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. Significant quarter over quarter changes are reflective of changes in nonaccrual status and not necessarily associated with credit quality indicators like appraised value. The following tables present the principal balance, including government guaranteed balances, of individually analyzed collateral dependent loans by loan portfolio segment as of September 30, 2025 and December 31, 2024:
September 30, 2025Type of CollateralACL
Real Estate
Real estate - commercial$2,628 $— 
Commercial and industrial1,160 — 
Total$3,788 $— 
.
December 31, 2024Type of CollateralACL
Real Estate
Real estate - commercial$2,709 $— 
The following table presents the aging of the principal balance of past due loans HFI at amortized cost at September 30, 2025 by loan segment:
30-89 Days
Past Due		Greater Than
89 Days
Past Due
Total
Past Due
Loans Not
Past Due (1)
Total
Loans
Real estate - residential
$3,868 $4,496 $8,364 $355,656 $364,020 
Real estate - commercial
840 3,394 4,234 226,805 231,039 
Real estate - construction and land
— 814 814 42,886 43,700 
Commercial and industrial
3,659 1,312 4,971 189,683 194,654 
Commercial and industrial - PPP
— — — 13 13 
Consumer and other
1,214 55 1,269 89,677 90,946 
Total
$9,581 $10,071 $19,652 $904,720 $924,372 
(1) $437 of balances 30-89 days past due and $7,422 of balances greater than 89 days past due are reported as Loans Not Past Due as a result of the government guarantee.
The following table presents the aging of the principal balance of past due loans HFI at amortized cost at December 31, 2024 by loan segment:
30-89 Days
Past Due		Greater Than
89 Days
Past Due
Total
Past Due
Loans Not
Past Due (1)
Total
Loans
Real estate - residential
$1,049 $5,818 $6,867 $324,003 $330,870 
Real estate - commercial
1,857 4,492 6,349 299,372 305,721 
Real estate - construction and land
— — — 32,914 32,914 
Commercial and industrial
3,572 1,561 5,133 221,389 226,522 
Commercial and industrial - PPP
— — — 941 941 
Consumer and other
417 295 712 93,114 93,826 
Total
$6,895 $12,166 $19,061 $971,733 $990,794 
(1) $10,429 of balances 30-89 days past due and $3,407 of balances greater than 89 days past due are reported as Loans Not Past Due as a result of the government guarantee. Of those loans, $135 of commercial and industrial PPP loans were delinquent as of December 31, 2024.
Modifications to Borrowers Experiencing Financial Difficulty
For the three and nine months ended September 30, 2025 and the year ended December 31, 2024, there were no loan modifications to borrowers experiencing financial difficulty and no loan modifications that subsequently defaulted during the period.
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 have potential weaknesses that may, if not checked or corrected, weaken the asset, or inadequately protect the Company’s position at some future date. These assets pose elevated risk, but their weakness does not yet justify a “Substandard” classification.
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 liquidation in full, on the basis of currently known facts, conditions, and values, highly questionable and improbable.

The table below sets forth principal balance for the commercial loan portfolio disaggregated by loan segment based on internally assigned risk ratings at September 30, 2025 and gross write offs for the nine months ended September 30, 2025:
RevolvingRevolving
LoansLoans
Term Loans Amortized Cost Basis by Origination YearAmortizedConverted
20252024202320222021PriorCost Basisto TermTotal
Real estate - commercial
Risk Rating
Pass$21,209 $52,576 $38,491 $44,020 $23,862 $30,815 $3,243 $— $214,216 
Special mention— 80 499 615 111 374 15 — 1,694 
Substandard— 2,735 3,081 3,340 4,429 1,544 — — 15,129 
Doubtful— — — — — — — — — 
Total real estate - commercial loans, at amortized cost, gross21,209 55,391 42,071 47,975 28,402 32,733 3,258 — 231,039 
Gross write offs— — 130 216 — 85 — — 431 
RevolvingRevolving
LoansLoans
Term Loans Amortized Cost Basis by Origination YearAmortizedConverted
20252024202320222021PriorCost Basisto TermTotal
Real estate - construction and land
Risk Rating
Pass3,229 5,926 15,118 8,407 1,062 — — — 33,742 
Special mention— — — — — — — — — 
Substandard— — 9,958 — — — — — 9,958 
Doubtful— — — — — — — — — 
Total real estate - construction and land loans, at amortized cost, gross3,229 5,926 25,076 8,407 1,062 — — — 43,700 
Gross write offs— — — — — — — — — 
Commercial and industrial
Risk Rating
Pass39,139 46,648 33,371 24,340 3,583 22,561 10,734 — 180,376 
Special mention22 562 1,163 1,376 172 683 252 — 4,230 
Substandard44 1,315 3,248 1,782 374 3,041 — — 9,804 
Doubtful72 — 22 57 8 85 — — 244 
Total commercial and industrial loans, at amortized cost, gross39,277 48,525 37,804 27,555 4,137 26,370 10,986 — 194,654 
Gross write offs135 2,234 3,615 2,347 319 2,529 33 — 11,212 
Commercial and industrial - PPP
Risk Rating
Pass— — — — — 13 — — 13 
Special mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful— — — — — — — — — 
Total commercial and industrial - PPP loans, at amortized cost, gross— — — — — 13 — — 13 
Gross write offs— — — — — 1 — — 1 
The table below sets forth principal balance for the commercial loan portfolio disaggregated by loan segment based on internally assigned risk ratings at December 31, 2024 and gross write offs for the year ended December 31, 2024:
RevolvingRevolving
LoansLoans
Term Loans Amortized Cost Basis by Origination YearAmortizedConverted
2024202320222021PriorCost Basisto TermTotal
Real estate - commercial
Risk Rating
Pass$58,597 $67,244 $67,994 $46,851 $52,733 $2,430 $— $295,849 
Special mention153 919 2,890 538 489 15 — 5,004 
Substandard— 2,971 857 99 941 — — 4,868 
Doubtful— — — — — — — — 
Total real estate - commercial loans, at amortized cost, gross58,750 71,134 71,741 47,488 54,163 2,445 — 305,721 
Gross write offs— — 60 — — — — 60 
Real estate - construction and land
Risk Rating
Pass1,947 18,261 9,891 2,815 — — — 32,914 
Special mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total real estate - construction and land loans, at amortized cost, gross1,947 18,261 9,891 2,815 — — — 32,914 
Gross write offs— — — — — — — — 
Commercial and industrial
Risk Rating
Pass84,402 40,301 32,982 10,715 36,641 8,778 — 213,819 
Special mention189 1,991 3,003 682 3,696 — — 9,561 
Substandard31 1,464 725 — 626 116 — 2,962 
Doubtful— 93 — 7 80 — — 180 
Total commercial and industrial loans, at amortized cost, gross84,622 43,849 36,710 11,404 41,043 8,894 — 226,522 
Gross write offs— 3,286 3,210 361 4,099 — — 10,956 
RevolvingRevolving
LoansLoans
Term Loans Amortized Cost Basis by Origination YearAmortizedConverted
2024202320222021PriorCost Basisto TermTotal
Commercial and industrial - PPP
Risk Rating
Pass— — — 135 302 — — 437 
Special mention— — — — 504 — — 504 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total commercial and industrial - PPP loans, at amortized cost, gross— — — 135 806 — — 941 
Gross write offs— — — — — — — — 
The Company considers the performance of the loan portfolio to determine its impact on the ACL. For residential and consumer loan classes, the Company evaluates credit quality based on the aging status of the loan by payment activity. The following table presents the principal balance at September 30, 2025 of residential and consumer loans based on payment activity as well as gross write offs for the nine months ended September 30, 2025.
RevolvingRevolving
LoansLoans
Term Loans Amortized Cost Basis by Origination YearAmortizedConverted
20252024202320222021PriorCost Basisto TermTotal
Real estate - residential
Payment Performance
Performing$8,856 $33,761 $25,087 $68,521 $21,808 $16,080 $185,046 $— $359,159 
Nonperforming— — 312 799 490 2,402 858 — 4,861 
Total real estate - residential loans, at amortized cost, gross8,856 33,761 25,399 69,320 22,298 18,482 185,904 — 364,020 
Gross write offs— — — 121 — — 842 — 963 
RevolvingRevolving
LoansLoans
Term Loans Amortized Cost Basis by Origination YearAmortizedConverted
20252024202320222021PriorCost Basisto TermTotal
Consumer and other
Payment Performance
Performing11,893 52,314 19,091 5,294 207 50 1,959 — 90,808 
Nonperforming— 83 — 55 — — — — 138 
Total consumer and other loans, at amortized cost, gross11,893 52,397 19,091 5,349 207 50 1,959 — 90,946 
Gross write offs43 641 209 815 22 9 24 — 1,763 
The following table presents the principal balance at December 31, 2024 of residential and consumer loans based on payment activity as well as gross write offs for the year ended December 31, 2024.
RevolvingRevolving
LoansLoans
Term Loans Amortized Cost Basis by Origination YearAmortizedConverted
2024202320222021PriorCost Basisto TermTotal
Real estate - residential
Payment Performance
Performing$29,086 $26,473 $65,598 $32,235 $26,395 $145,265 $— $325,052 
Nonperforming— — 3,565 293 — 1,960 — 5,818 
Total real estate - residential loans, at amortized cost, gross29,086 26,473 69,163 32,528 26,395 147,225 — 330,870 
Gross write offs— — — — 20 — — 20 
Consumer and other
Payment Performance
Performing59,591 21,860 9,840 603 53 1,584 — 93,531 
Nonperforming84 — 186 — — 25 — 295 
Total consumer and other loans, at amortized cost, gross59,675 21,860 10,026 603 53 1,609 — 93,826 
Gross write offs— 236 2,351 35 316 — — 2,938 
v3.25.3
FAIR VALUE
 9 Months Ended
Sep. 30, 2025
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 investment securities, but rather by relying on the investment securities’ relationship to other benchmark quoted investment securities (Level 2). Management obtains the fair values of investment securities available for sale on a monthly basis from a third party pricing service.
Government Guaranteed Loans HFI, at Fair Value: The Company has elected to account for certain government guaranteed loans HFI 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.
Individually Evaluated Loans: Periodically, the Company records nonrecurring adjustments to the carrying value of loans based on fair value measurements for partial charge-offs of the uncollectible portions of those loans. Nonrecurring adjustments can also include certain impairment amounts for collateral-dependent loans calculated when establishing the ACL. Loans are considered collateral dependent when the Company has determined that foreclosure of the collateral is probable or when a borrower is experiencing financial difficulty and the loan is expected to be repaid substantially through the operation or sale of collateral. A collateral dependent loan’s ACL is measured based on the difference between the fair value of the collateral and the amortized cost basis of the loan as of the measurement date. Fair value of the loan’s collateral is determined by appraisals, independent valuation, or management’s estimation of fair value which is then adjusted for the cost related to liquidation of the collateral. Collateral dependent loans are generally classified as Level 3 based on management’s judgment and estimation.
Other Real Estate Owned: Other real estate owned assets are recorded at fair value less estimated costs to sell upon the transfer of a loan to other real estate owned and, subsequently, continue to be measured and carried at fair value. The fair value of other real estate owned is based on recent real estate appraisals which are generally updated annually. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales, cost, and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value.
Appraisals for other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by either the Company or the Company's appraisal services vendor. Once received, management reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Management compares the best-efforts price of collateral that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraised value to arrive at fair value.    
Repossessed Assets: Repossessed assets are recorded at fair value less estimated costs to sell upon the transfer of a loan to repossessed assets. The fair value of a repossessed asset, upon initial recognition, is estimated using a market approach or based on observable market data, such as a current appraisal, recent sale price of similar assets, or assumptions specific to the individual property or equipment, such as management applied discounts used to further reduce values to a net realizable value when observable inputs become stale.
Assets measured at fair value on a recurring basis at September 30, 2025 are summarized below. There were no liabilities carried at fair value on a recurring basis at September 30, 2025.
Quoted Prices in
Active Markets
for Identical Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Financial assets
Investment securities available for sale
$— $29,857 $— $29,857 
Government guaranteed loans HFI, at fair value
— — 61,780 61,780 
Assets measured at fair value on a recurring basis at December 31, 2024 are summarized below. There were no liabilities carried at fair value on a recurring basis at December 31, 2024.
Quoted Prices in
Active Markets
for Identical Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Financial assets
Investment securities available for sale
$— $36,291 $— $36,291 
Government guaranteed loans HFI, at fair value
— — 60,833 60,833 
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 elected the fair value option for certain of its government guaranteed loans HFI 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 government guaranteed loans on a loan-by-loan basis. The portion of these loans guaranteed by the government 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 HFI.
The following tables provide more information about the fair value carrying amount and the unpaid principal outstanding of HFI government guaranteed loans measured at fair value at September 30, 2025 and December 31, 2024.
September 30, 2025
Total Loans
Nonaccrual(1)
90 Days or More Past Due(1)
Fair Value Carrying AmountUnpaid Principal BalanceFair Value Gain (Loss)Fair Value Carrying AmountUnpaid Principal BalanceFair Value Gain (Loss)Fair Value Carrying AmountUnpaid Principal BalanceFair Value Gain (Loss)
Real estate - commercial
$12,808 $12,630 $178 $244 $243 $1 $— $— $— 
Commercial and industrial
48,972 53,665 (4,693)1,141 6,372 (5,231)— — — 
Total loans HFI, at fair value$61,780 $66,295 $(4,515)$1,385 $6,615 $(5,230)$— $— $— 
December 31, 2024
Total Loans
Nonaccrual(1)
90 Days or More Past Due(1)
Fair Value Carrying AmountUnpaid Principal BalanceFair Value Gain (Loss)Fair Value Carrying AmountUnpaid Principal BalanceFair Value Gain (Loss)Fair Value Carrying AmountUnpaid Principal BalanceFair Value Gain (Loss)
Real estate - commercial
$15,136 $15,075 $61 $— $— $— $— $— $— 
Commercial and industrial
45,697 46,981 (1,284)1,491 2,630 (1,139)— — — 
Total loans HFI, at fair value$60,833 $62,056 $(1,223)$1,491 $2,630 $(1,139)$— $— $— 
(1) The nonaccrual and 90 days or more past due loan balances do not include the portion of government guaranteed loan balances.
The total amount of net gains and losses from changes in fair value and interest income included in earnings for the nine months ended September 30, 2025 and September 30, 2024 for government guaranteed loans HFI, at fair value, were as follows:
Nine Months Ended September 30,
20252024
Interest income$6,074 $5,978 
Change in fair value805 9,923 
Total gain, net
$6,879 $15,901 
Changes in fair value for government guaranteed loans HFI, at fair value, were included in Government guaranteed loans fair value gain (loss), net on the Condensed Consolidated Statements of Income.
The table below presents a reconciliation of government guaranteed loans HFI, at fair value, which were valued on a recurring basis and used significant unobservable inputs (Level 3) for the nine months ended September 30, 2025 and September 30, 2024:
 Nine Months Ended September 30,
20252024
Balance of government guaranteed loans HFI at fair value, beginning of period
$60,833 $91,508 
New government guaranteed originations at fair value51,287 105,754 
Loans sold(32,884)(116,977)
Principal payments
(6,285)(3,767)
Transfer to HFS
(11,976)— 
Total fair value gains (losses) during the period
805 9,923 
Balance of government guaranteed loans HFI at fair value, end of period
$61,780 $86,441 
The Company’s valuation of government guaranteed loans HFI, 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 government guaranteed loans HFI that fall within Level 3 of the fair value hierarchy at September 30, 2025 and December 31, 2024:
Fair ValueValuation
Technique		Unobservable InputsRange (Weighted Average)
September 30, 2025
Government guaranteed loans HFI, at fair value
$61,780 DiscountedDiscount rate
5.61%-9.11% (8.76%)
cash flowConditional prepayment rate
5.77%-18.43% (9.33%)
December 31, 2024
Government guaranteed loans HFI, at fair value
$60,833 DiscountedDiscount rate
6.07%-9.57% (8.69%)
cash flowConditional prepayment rate
0.00%-18.13% (11.61%)
The significant unobservable inputs impacting the fair value measurement of government guaranteed loans HFI, 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.
Assets measured at fair value on a nonrecurring basis at September 30, 2025 are summarized below:
 Fair ValueValuation Technique(s)Significant
Unobservable
Input(s)		Discount % AmountValuation Level
SBA loans held for sale$94,052 Transaction priceNA—%2
Individually evaluated loans
$3,788 Discounted appraisals, estimated net realizable value of collateralCollateral discounts10%3
Other real estate owned
$400 Discounted appraisals, estimated net realizable value of collateralCollateral discounts10%3
Repossessed assets
$32 Discounted appraisals, estimated net realizable value of collateralCollateral discounts10%3
Assets measured at fair value on a nonrecurring basis at December 31, 2024 are summarized below:
Fair ValueValuation Technique(s)Significant
Unobservable
Input(s)		Discount % AmountValuation level
Individually evaluated loans
$2,709 Discounted appraisals, estimated net realizable value of collateralCollateral discounts
10%
3
Other real estate owned$132 Discounted appraisals, estimated net realizable value of collateralCollateral discounts10%3
Repossessed assets$36 Discounted appraisals, estimated net realizable value of collateralCollateral discounts10%3
Fair Value of Financial Instruments
The carrying values and estimated fair values of financial instruments not carried at fair value, at September 30, 2025 and December 31, 2024 are as follows:
September 30, 2025December 31, 2024
LevelCarrying ValueFair ValueCarrying ValueFair Value
Assets:
Cash and cash equivalents
1$118,550 $118,550 $77,788 $77,788 
Time deposits in banks
21,284 1,280 2,270 2,212 
Investment securities held to maturity
22,491 2,375 2,488 2,346 
Nonmarketable equity securities, at cost
27,028 7,028 4,526 4,526 
Loans HFI, at amortized cost
3912,418 927,651 990,214 986,406 
Accrued interest receivable
28,898 8,898 9,155 9,155 
Government guaranteed loan servicing rights
315,663 19,503 16,534 19,473 
Liabilities:
Noninterest-bearing deposit accounts
2$105,937 $105,937 $101,743 $101,743 
Interest-bearing transaction accounts
2210,336 210,336 256,793 256,793 
Savings and money market deposit accounts
2479,262 479,262 474,425 474,425 
Time deposits
2375,922 376,548 310,268 307,925 
FHLB borrowings250,000 50,000 — — 
Subordinated notes
25,961 5,563 5,956 5,511 
Notes payable
21,593 1,580 1,934 1,919 
Accrued interest payable
21,082 1,082 1,036 1,036 
v3.25.3
GOVERNMENT GUARANTEED LOAN SERVICING ACTIVITIES
 9 Months Ended
Sep. 30, 2025
Transfers and Servicing [Abstract]  
GOVERNMENT GUARANTEED LOAN SERVICING ACTIVITIES GOVERNMENT GUARANTEED LOAN SERVICING ACTIVITIES
At September 30, 2025 and December 31, 2024, the balance of government guaranteed loans HFI, excluding PPP loans, retained by the Company was $313,980 and $425,963, respectively, of which $75,280 and $148,543 represented the guaranteed portion of the loans. At September 30, 2025, the balance and fair value of government guaranteed loans HFS was $94,052, of which $50,120 represented the guaranteed portion of the loans. The Company had no government guaranteed loans HFS at December 31, 2024. Loans serviced for others are not included in the accompanying Condensed Consolidated Balance Sheets. The unpaid principal balances of government guaranteed loans serviced for others requiring recognition of a servicing asset were $1,038,738 and $1,056,665 at September 30, 2025 and December 31, 2024, respectively.
Activity for government guaranteed loan servicing rights for the three and nine months ended September 30, 2025 and September 30, 2024 follows:
Three Months EndedNine Months Ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Beginning of period
$16,074 $15,770 $16,534 $14,959 
Additions
1,274 1,704 4,489 5,396 
Amortization
(1,685)(1,508)(5,360)(4,389)
End of period
$15,663 $15,966 $15,663 $15,966 
The fair value of government guaranteed loan servicing rights was $19,503 and $19,473 at September 30, 2025 and December 31, 2024, respectively. Fair value was determined using a weighted average discount rate of 14.00% and a weighted average prepayment speed of 11.02% at September 30, 2025. Fair value was determined using a weighted average discount rate of 14.63% and a weighted average prepayment speed of 11.97% at December 31, 2024. The government guaranteed loan servicing rights are amortized over the life of a loan on a loan-by-loan basis.
At September 30, 2025, $592 of loan servicing rights were classified as held for sale and related to the HFS portfolio expected to sell in December. This sale is pending approval from the SBA and OCC which may be delayed as a result of the government shutdown.
The following table presents the components of net gain on sale of government guaranteed loans for the three and nine months ended September 30, 2025 and September 30, 2024:
Three Months EndedNine Months Ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Gain on sale of guaranteed portion of government guaranteed loans
$1,789 $4,439 $12,037 $14,431 
Fair value of loan servicing rights created
1,274 1,704 4,489 5,396 
Gain on sale of government guaranteed loans, net
$3,063 $6,143 $16,526 $19,827 
v3.25.3
LEASES
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
LEASES LEASES
On December 23, 2024, the Bank agreed to a sale-leaseback transaction with Mountainseed Real Estate Services, LLC (the “Buyer”), pursuant to which the Bank sold to the Buyer two properties owned and operated as branch locations (the “Properties”) for an aggregate purchase price of $15,000, including customary closing adjustments. On December 31, 2024, the Bank also entered into triple net lease agreements (the “Lease Agreements”) with the Buyer under which the Bank leases each of the Properties, and pursuant to which the Bank is responsible for the insurance, real estate taxes, and maintenance and repairs for each of the properties. Each of the Lease Agreements became effective upon the closing and have an initial term of 15 years. The Bank’s obligations under the Lease Agreements are guaranteed by BayFirst Financial Corp.
As the rate implicit in the leases generally is not readily determinable for our operating leases, the discount rates used to determine the present value of our lease liability are based on our incremental borrowing rate at the lease commencement date and commensurate with the remaining lease term. Our incremental borrowing rate for a lease is the rate of interest we would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment.
For the three and nine months ended September 30, 2025 and September 30, 2024, the components of total lease cost and supplemental information related to operating leases were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Operating lease cost
$561 $202 $1,712 $699 
Short-term lease cost
35 30 142 102 
Total lease cost, net (1)
$596 $232 $1,854 $801 
(1) There were no lease costs reported as discontinued operations for the three and nine months ended September 30, 2025 and for the three months ended September 30, 2024 and $131 for the nine months ended September 30, 2024.
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Cash flows related to operating lease liabilities
$242 $151 738 600 
Right-of-use assets obtained in exchange for new operating lease liabilities
— — — 296 
At September 30, 2025, the weighted average discount rate of operating leases was 7.01% and the weighted average remaining life of operating leases was 12.89 years.
The future minimum lease payments for operating leases, subsequent to September 30, 2025, as recorded on the balance sheet, are summarized as follows:
2025$412 
20262,119 
20271,751 
20281,313 
20291,339 
Thereafter14,961 
Total undiscounted lease payments
$21,895 
Less: imputed interest
(8,341)
Net lease liabilities
$13,554 
v3.25.3
OTHER BORROWINGS
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
OTHER BORROWINGS OTHER BORROWINGS
At September 30, 2025, the Company had $50,000 of borrowings at 4.33% from the FHLB and no borrowings from the FRB. There were no borrowings from the FHLB or FRB at December 31, 2024.
The Bank is a member of the FHLB of Atlanta, which provides short- and long-term funding collateralized by mortgage-related assets to its members. FHLB short-term borrowings bear interest at variable rates set by the FHLB. Any advances that the Bank were to obtain would be secured by a blanket lien on $375,157 of real estate-related loans as of September 30, 2025. Based on this collateral and the Bank's holdings of FHLB stock, the Bank was eligible to borrow up to $145,586 from the FHLB at September 30, 2025.
In addition, the Bank has a secured line of credit with the Federal Reserve Bank of Atlanta which was secured by $79,165 of commercial loans as of September 30, 2025. FRB short-term borrowings bear interest at variable rates based on the FOMC's target range for the federal funds rate. Based on this collateral, the Bank was eligible to borrow up to $55,686 from the FRB at September 30, 2025.
The Company has $6,000 of Subordinated Notes (the “Notes”) that mature June 30, 2031 and are redeemable after 5 years which is June 30, 2026. The Notes carry interest at a fixed rate of 4.50% per annum for the initial 5 years of term and carry interest at a floating rate for the final 5 years of term after June 30, 2026. Under the note agreements, the floating rates are based on a SOFR benchmark plus 3.78% per annum. The balance of Notes outstanding at the Company, net of offering costs, amounted to $5,961 and $5,956 at September 30, 2025 and December 31, 2024, respectively. As of September 30, 2025, the Company was not in compliance with certain debt covenants. A waiver of these covenants has been requested, and approval has not yet been received.
The Company has a term note with quarterly principal and interest payments with interest at Prime (7.25% at September 30, 2025). The note matures on March 10, 2029 and the balance of the note was $1,593 and $1,934 at September 30, 2025 and December 31, 2024, 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 September 30, 2025, the Company was not in compliance with certain debt covenants. A waiver of these covenants has been requested, and approval has not yet been received.
If a waiver is denied, the Company could be subject to a default rate of interest or other conditions.
v3.25.3
STOCK-BASED COMPENSATION
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
The Equity Plan governs the Company’s restricted stock grants and stock options. Total compensation cost charged against income related to the Equity Plan was $239 and $281 for the nine months ended September 30, 2025 and September 30, 2024, respectively.
Restricted Stock
The Company awarded shares of restricted common stock to certain employees and directors for which compensation expense is recognized ratably over the 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 nine months ended September 30, 2025 and September 30, 2024 follows:
SharesWeighted-Average
Grant-Date
Fair Value, per share
Nonvested at January 1, 2025
47,485 $14.54 
Granted
25,800 15.78 
Vested
(24,225)(13.23)
Forfeited
(1,680)(15.41)
Nonvested at September 30, 2025
47,380 $15.85 
SharesWeighted-Average
Grant-Date
Fair Value, per share
Nonvested at January 1, 2024
52,195 $18.75 
Granted
30,650 11.70 
Vested
(29,835)(18.24)
Forfeited
(1,125)(16.05)
Nonvested at September 30, 2024
51,885 $14.93 
At September 30, 2025, there was $548 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 1.5 years. The total fair value of shares vested during the nine months ended September 30, 2025 and September 30, 2024 on the vesting date was $370 and $359, respectively.
Stock Options
The Equity Plan permits the grant of stock options to the Company’s employees and 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
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 Nasdaq on the date of the grant. Those option awards generally have a vesting period of 5 years for employees and 3 years for 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 volatility is based on an average of historical volatility 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 the grant.
A summary of the activity in the Equity Plan for the nine months ended September 30, 2025 and September 30, 2024 follows:
SharesWeighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term (in years)		Aggregate
Intrinsic
Value
Outstanding at January 1, 2025
364,063 $15.68 
Exercised
(1,050)(14.67)
Forfeited
(195)(14.67)
Outstanding at September 30, 2025
362,818 $15.68 3.89$— 
Vested and exercisable at September 30, 2025
357,748 $15.69 3.87$— 
SharesWeighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term (in years)		Aggregate
Intrinsic
Value
Outstanding at January 1, 2024
367,033 $15.68 
Forfeited
(2,970)(15.56)
Outstanding at September 30, 2024
364,063 $15.57 4.92$— 
Vested and exercisable at September 30, 2024
349,385 $15.71 4.88$— 
There were no options granted during the nine months ended September 30, 2025 or September 30, 2024. Total unrecognized compensation cost related to nonvested stock options granted under the Equity Plan was $5 at September 30, 2025. This cost is expected to be recognized over a weighted average period of 0.29 years.
v3.25.3
OTHER BENEFIT PLANS
 9 Months Ended
Sep. 30, 2025
Postemployment Benefits [Abstract]  
OTHER BENEFIT PLANS OTHER BENEFIT PLANS
The Company has established a stock dividend reinvestment and stock purchase plan. Under the DRIP, eligible shareholders can voluntarily purchase stock with their dividend or can make additional stock purchases. For the nine months ended September 30, 2025 and September 30, 2024, there were no shares issued.
All employees and Directors are eligible to participate in the NSPP. Expense recognized in relation to the NSPP for the nine months ended September 30, 2025 and September 30, 2024 was $13 and $18, respectively. During the nine months ended September 30, 2025, 3,391 shares were purchased at an average price of $9.03. For the nine months ended September 30, 2024, there were no shares issued.
The Company has a Salary Continuation Agreement (the “Agreement”) with the Company’s retired CEO. In accordance with the Agreement, the executive will receive an annual benefit of $25 for twenty years following separation of service. The liability recorded for the Agreement was $312 and $327 at September 30, 2025 and December 31, 2024, respectively, and the related expense for the nine months ended September 30, 2025 was $10 and the related expense for the nine months ended September 30, 2024 was $(3). Payments began in July 2024 as a result of the retirement of the CEO on December 31, 2023.
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. There was no match of contributions in 2024. Expense recognized in relation to the 401(k) plan was $715 and $749 for the nine months ended September 30, 2025 and September 30, 2024, respectively.

The Company had an ESOP for eligible employees with outstanding loans as a result of the acquisition of shares in 2021 and the termination of the nationwide residential lending division in 2022. On September 30, 2025, the Plan was terminated and the remaining 19,691 shares in the ESOP unallocated account with a fair value of $175 were returned to the Company in partial satisfaction of the outstanding balances on the ESOP loans. The ESOP accounts of the participants were 100% vested as of the date of the termination. As part of the termination of the plan, the Company forgave the indebtedness of the
outstanding loans which totaled $365. There was $190 of expense related to the ESOP for the nine months ended September 30, 2025 and $149 expense for the nine months ended September 30, 2024. The Company’s ESOP, which is internally leveraged, did not report the loan receivable extended to the ESOP as an asset and did not report the ESOP debt due to the Company.
v3.25.3
REGULATORY MATTERS
 9 Months Ended
Sep. 30, 2025
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 capital adequacy requirements to which it was subject at September 30, 2025 and December 31, 2024.
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. The Bank must maintain a “well capitalized” rating to access brokered deposits without FDIC waiver. An “adequately capitalized” rating requires an FDIC waiver to access brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. At September 30, 2025, the Bank did not meet all of its regulatory capital requirements to be well-capitalized and is taking steps towards meeting the capital requirements established by the regulators. The Bank requested a waiver from the FDIC to continue to access brokered deposits, which is under review by the FDIC.
In February 2019, the federal bank regulatory agencies issued a final rule that revised certain capital regulations under ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and included a transition option that allows banking organizations to phase in, over a three year period, the day one adverse effects of adoption on their regulatory capital ratios (three year transition option). In connection with the adoption of ASC 326 on January 1, 2023, the Company recognized an after-tax cumulative effect reduction to retained earnings. The Company elected to adopt the three year transition option and the deferral has been applied in capital ratios presented below. Actual and required capital amounts and ratios for the Bank are presented below at September 30, 2025:
Actual
Required for Capital
Adequacy Purposes
To be Well
Capitalized Under
Prompt Corrective
Action Regulations
AmountRatioAmount
Ratio
AmountRatio
Total Capital
(to Risk Weighted Assets)
$102,017 9.71%$84,088 8.00%$105,111 10.00%
Tier 1 Capital
(to Risk Weighted Assets)
$88,737 8.44%$63,066 6.00%$84,088 8.00%
Common Equity Tier 1 Capital
(to Risk Weighted Assets)
$88,737 8.44%$47,300 4.50%$68,322 6.50%
Tier 1 Capital
(to Average Assets)
$88,737 6.64%$53,458 4.00%$66,823 5.00%
Actual and required capital amounts and ratios for the Bank are presented below at December 31, 2024:
Actual
Required for Capital
Adequacy Purposes
To be Well
Capitalized Under
Prompt Corrective
Action Regulations
AmountRatioAmountRatioAmountRatio
Total Capital
(to Risk Weighted Assets)
$124,420 12.14%$81,985 8.00%$102,482 10.00%
Tier 1 Capital
(to Risk Weighted Assets)
$111,586 10.89%$61,489 6.00%$81,985 8.00%
Common Equity Tier 1 Capital
(to Risk Weighted Assets)
$111,586 10.89%$46,117 4.50%$66,613 6.50%
Tier 1 Capital
(to Average Assets)
$111,586 8.82%$50,579 4.00%$63,224 5.00%
Dividend Restrictions
Banking regulations limit the amount of dividends that may be paid. Approval by regulatory authorities is required if the effect of dividends declared would cause the regulatory capital of the Bank to fall below specified minimum levels. Approval is also required if dividends declared exceed the net profits of the Bank for that year combined with the retained net profits for the preceding two years. The Company has temporarily suspended common and preferred stock dividends, see Part II Item 3 of this report for additional information.
v3.25.3
LOAN COMMITMENTS AND OTHER RELATED ACTIVITIES
 9 Months Ended
Sep. 30, 2025
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, and letters of credit, 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 September 30, 2025 and December 31, 2024 were as follows:
September 30, 2025December 31, 2024
Unfunded loan commitments
$34,878 $21,174 
Unused lines of credit
221,625 199,411 
Standby letters of credit
1,259 276 
All unused lines of credit at September 30, 2025 and December 31, 2024 were variable rate lines of credit and the majority of unfunded loan commitments at September 30, 2025 and December 31, 2024 were commitments to fund variable rate loans. Unfunded loan commitments are generally entered into for periods of 90 days or less.
The Company maintains an ACL for its off-balance sheet loan commitments which is calculated by loan type using estimated line utilization rates based on peer historical usage. Loss rates for outstanding loans are applied to the estimated utilization rates to calculate the ACL for off-balance sheet loan commitments. At September 30, 2025 and December 31, 2024, ACL for off-balance sheet loan commitments totaled $731 and $516, respectively.
v3.25.3
EARNINGS PER COMMON SHARE
 9 Months Ended
Sep. 30, 2025
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 three and nine months ended September 30, 2025 and September 30, 2024:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Basic:
Income (loss) from continuing operations
$(18,902)$1,137 $(20,474)$2,896 
Loss from discontinued operations
— — — (69)
Net income (loss)
(18,902)1,137 (20,474)2,827 
Less: Preferred stock dividends
385 385 1,156 1,156 
Net income available to (loss attributable to) common shareholders
$(19,287)$752 $(21,630)$1,671 
Weighted average common shares outstanding
4,135,106 4,134,169 4,135,949 4,133,082 
Basic earnings (loss) per common share:
Continuing operations
$(4.66)$0.18 $(5.23)$0.42 
Discontinued operations
— — — (0.02)
Total
$(4.66)$0.18 $(5.23)$0.40 
Diluted:
Income (loss) from continuing operations
$(18,902)$1,137 $(20,474)$2,896 
Loss from discontinued operations
— — — (69)
Net income (loss)
(18,902)1,137 (20,474)2,827 
Less: Preferred stock dividends
385 385 1,156 1,156 
Add: Series B preferred stock and preferred C stock dividends
— — — — 
Net income available to (loss attributable to) common shareholders
$(19,287)$752 $(21,630)$1,671 
Weighted average common shares outstanding for basic earnings per common share
4,135,106 4,134,169 4,135,949 4,133,082 
Add: Dilutive effects of conversion of Series B preferred stock and Preferred C to common stock
— — — — 
Add: Dilutive effects of assumed exercises of stock options and warrants
— — — — 
Average shares and dilutive potential common shares
4,135,106 4,134,169 4,135,949 4,133,082 
Diluted earnings (loss) per common share:
Continuing operations
$(4.66)$0.18 $(5.23)$0.42 
Discontinued operations
— — — (0.02)
Total
$(4.66)$0.18 $(5.23)$0.40 
-
The following securities outstanding at September 30, 2025 and September 30, 2024 have been excluded from the calculation of weighted average shares outstanding as their effect on the calculation of earnings (loss) per share are antidilutive:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Common stock options
363,917364,576363,192365,680
Convertible Series B preferred stock3,2103,2103,2103,210
Convertible Series C preferred stock6,4466,4466,4466,446
v3.25.3
SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company’s revenue is primarily derived from the business of banking. The Company’s financial performance is monitored on a consolidated basis by senior management, who are considered to be the Bank’s Chief Operating Decision Maker (“CODM”). Senior management includes the following officers of the Company: Chief Executive Officer; President, Chief Operating Officer; and Executive Vice President, Chief Financial Officer.
All of the Company’s financial results are similar and considered by management to be aggregated into one reportable operating segment. While the Company has assigned certain management responsibilities by branch location or department, the Company’s CODM evaluates financial performance on a Company-wide basis. The majority of the Company’s revenue is from the business of banking, and the Company’s branch locations have similar economic characteristics, products, services and customers. Accordingly, all of the Company’s operations are considered by the CODM to be aggregated in one reportable operating segment.
Financial performance is measured monthly and the primary measures of performance are net interest income after provision for credit losses, return on average assets, and return on average common equity, and significant operating expenses detailed below, as compared to the budget when assessing the Company’s segment. The allocation of resources throughout the Company is based on consolidated profitability. The presentation of financial performance is consistent with amounts and financial statement line items shown in the Company’s condensed consolidated balance sheets and condensed consolidated statements of income. Additionally, the Company’s significant expenses are adequately segmented by category and amount in the condensed consolidated statements of income to include all significant items when considering both qualitative and quantitative factors. Significant expenses of the Company include interest on deposits and borrowings, professional fees, loan origination expenses, and compensation.
v3.25.3
Restructuring and Related Activities
 9 Months Ended
Sep. 30, 2025
Restructuring and Related Activities [Abstract]  
RESTRUCTURE RESTRUCTURE CHARGES
v3.25.3
SUBSEQUENT EVENTS
 9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
On August 14, 2025, BayFirst National Bank (“BayFirst”) was notified of a cybersecurity incident experienced by a third-party provider of marketing services. On October 28, 2025, the third-party provider confirmed that some customer information was exposed by this incident. None of the Bank’s own internal systems or data were compromised.
The third-party provider immediately launched an investigation, worked with BayFirst to understand the scope of the issue, and engaged the appropriate cybersecurity experts to assist. The third-party provider also promptly notified law enforcement. The incident was limited to the third-party provider’s environment. Based on the information available to date, personal information, including name, date of birth, and social security/tax identification numbers of some BayFirst customers was accessed without authorization. To date, there is no evidence of the misuse, or attempted misuse, of personal information as a result of this incident. Impacted customers will be notified directly of this incident.
BayFirst cannot quantify any material impact to its financial condition or operations, at this time.
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.3
BASIS OF PRESENTATION (Policies)
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements include BayFirst Financial Corp. and its wholly owned subsidiary, BayFirst National Bank (“the Bank”), together referred to as “the Company”.
These unaudited condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles followed within the financial services industry for interim financial information and Article 8 of Regulation S-X. Accordingly, certain information and note disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to these rules and regulations. The consolidated balance sheet as of December 31, 2024 has been derived from the audited consolidated financial statements of BayFirst Financial Corp. for that date.
Segment Reporting
The Company currently operates one business segment. In the third quarter of 2022, the Company discontinued the Bank’s nationwide residential mortgage loan segment. The operations of this segment are reported as discontinued operations.
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 ACL, government guaranteed loan servicing rights, and fair value of government guaranteed loans HFI.
Contingencies Contingencies: Due to the nature of their activities, the Company is at times engaged in various legal proceedings that arise in the course of normal business, some of which were outstanding as of September 30, 2025. Although the ultimate outcome of all claims and lawsuits outstanding as of September 30, 2025 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
New Accounting Standards Not Yet Adopted:
In October 2023, the FASB issued ASU No. 2023-06 “Disclosure Improvements - Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative” (“ASU 2023-06”). ASU 2023-06 amends the ASC to incorporate certain disclosure requirements from SEC Release No. 33-10532 - Disclosure Update and Simplification that was issued in 2018. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company does not believe this standard will have a material impact on its Consolidated Financial Statements.
In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures ("ASU 2023-09"). This ASU was issued to enhance the transparency and decision usefulness of income tax disclosures. The ASU addresses investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. Retrospective application in all prior periods is permitted. The amendments in this standard will be effective for the Company for annual periods beginning after December 15, 2025. The Company is currently assessing the impact of this standard and does not expect it to have a material impact on the Company’s consolidated financial statements.
In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Disaggregation of Income Statement Expenses Disclosure (“ASU 2024-03”). This ASU was issued to improve the disclosures about public business entity’s expenses and address investor’s requests for more detailed information about the types of expenses (including purchases of inventory, employee compensation, depreciation, amortization, and depletion) in commonly presented expense captions. The amendments in this standard will be effective for the Company for the fiscal year ended December 31, 2027 and subsequent interim periods. The amendments should be applied either prospectively to the financial statements issued for reporting periods after the effective date of this update or retrospectively to any and all prior periods presented in the financial statements. We are currently evaluating the impact these changes may have on the Company’s consolidated financial statements.
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 investment securities, but rather by relying on the investment securities’ relationship to other benchmark quoted investment securities (Level 2). Management obtains the fair values of investment securities available for sale on a monthly basis from a third party pricing service.
Government Guaranteed Loans HFI, at Fair Value: The Company has elected to account for certain government guaranteed loans HFI 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.
Individually Evaluated Loans: Periodically, the Company records nonrecurring adjustments to the carrying value of loans based on fair value measurements for partial charge-offs of the uncollectible portions of those loans. Nonrecurring adjustments can also include certain impairment amounts for collateral-dependent loans calculated when establishing the ACL. Loans are considered collateral dependent when the Company has determined that foreclosure of the collateral is probable or when a borrower is experiencing financial difficulty and the loan is expected to be repaid substantially through the operation or sale of collateral. A collateral dependent loan’s ACL is measured based on the difference between the fair value of the collateral and the amortized cost basis of the loan as of the measurement date. Fair value of the loan’s collateral is determined by appraisals, independent valuation, or management’s estimation of fair value which is then adjusted for the cost related to liquidation of the collateral. Collateral dependent loans are generally classified as Level 3 based on management’s judgment and estimation.
Other Real Estate Owned: Other real estate owned assets are recorded at fair value less estimated costs to sell upon the transfer of a loan to other real estate owned and, subsequently, continue to be measured and carried at fair value. The fair value of other real estate owned is based on recent real estate appraisals which are generally updated annually. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales, cost, and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value.
Appraisals for other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by either the Company or the Company's appraisal services vendor. Once received, management reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Management compares the best-efforts price of collateral that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraised value to arrive at fair value.    
Repossessed Assets: Repossessed assets are recorded at fair value less estimated costs to sell upon the transfer of a loan to repossessed assets. The fair value of a repossessed asset, upon initial recognition, is estimated using a market approach or based on observable market data, such as a current appraisal, recent sale price of similar assets, or assumptions specific to the individual property or equipment, such as management applied discounts used to further reduce values to a net realizable value when observable inputs become stale.
v3.25.3
DISCONTINUED OPERATIONS (Tables)
 9 Months Ended
Sep. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Operating Results of the Discontinued Operations of the Residential Mortgage Lending Division
The following presents operating results of the discontinued operations of the residential mortgage lending division for the three and nine months ended September 30, 2024:
Three Months Ended September 30,Nine Months Ended September 30,
20242024
Noninterest income$— $51 
Total net revenue— 51 
Noninterest expense— 143 
Loss from discontinued operations before income taxes— (92)
Income tax benefit— (23)
Net loss from discontinued operations$— $(69)
v3.25.3
INVESTMENT SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2025
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 and investment securities held to maturity at September 30, 2025 and December 31, 2024 as well as the ACL for investment securities held to maturity at September 30, 2025 and December 31, 2024 are summarized as follows:
September 30, 2025Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Investment securities available for sale:
Asset-backed securities
$2,942 $4 $(16)$2,930 
Mortgage-backed securities:
U.S. Government-sponsored enterprises
5,390 15 (439)4,966 
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises
20,442 20 (2,382)18,080 
Corporate bonds3,840 41 — 3,881 
Total investment securities available for sale
$32,614 $80 $(2,837)$29,857 
September 30, 2025Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value		ACL
Investment securities held to maturity:
Corporate bonds$2,500 $— $(125)$2,375 $9 
Total investment securities held to maturity
$2,500 $— $(125)$2,375 $9 
December 31, 2024Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Investment securities available for sale:
Asset-backed securities
$5,029 $— $(39)$4,990 
Mortgage-backed securities:
U.S. Government-sponsored enterprises
7,791 — (661)7,130 
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises
18,627 — (3,341)15,286 
Corporate bonds8,832 53 — 8,885 
Total investment securities available for sale
$40,279 $53 $(4,041)$36,291 
December 31, 2024Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value		ACL
Investment securities held to maturity:
Corporate bonds$2,500 $— $(154)$2,346 $12 
Total investment securities held to maturity
$2,500 $— $(154)$2,346 $12 
`
Schedule of Securities Held to Maturity
The amortized costs, gross unrealized gains and losses, and estimated fair values of investment securities available for sale and investment securities held to maturity at September 30, 2025 and December 31, 2024 as well as the ACL for investment securities held to maturity at September 30, 2025 and December 31, 2024 are summarized as follows:
September 30, 2025Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Investment securities available for sale:
Asset-backed securities
$2,942 $4 $(16)$2,930 
Mortgage-backed securities:
U.S. Government-sponsored enterprises
5,390 15 (439)4,966 
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises
20,442 20 (2,382)18,080 
Corporate bonds3,840 41 — 3,881 
Total investment securities available for sale
$32,614 $80 $(2,837)$29,857 
September 30, 2025Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value		ACL
Investment securities held to maturity:
Corporate bonds$2,500 $— $(125)$2,375 $9 
Total investment securities held to maturity
$2,500 $— $(125)$2,375 $9 
December 31, 2024Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Investment securities available for sale:
Asset-backed securities
$5,029 $— $(39)$4,990 
Mortgage-backed securities:
U.S. Government-sponsored enterprises
7,791 — (661)7,130 
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises
18,627 — (3,341)15,286 
Corporate bonds8,832 53 — 8,885 
Total investment securities available for sale
$40,279 $53 $(4,041)$36,291 
December 31, 2024Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value		ACL
Investment securities held to maturity:
Corporate bonds$2,500 $— $(154)$2,346 $12 
Total investment securities held to maturity
$2,500 $— $(154)$2,346 $12 
`
The following table summarizes investment securities with unrealized losses at September 30, 2025 aggregated by security type and length of time in a continuous unrealized loss position:
Less than 12 Months12 Months or LongerTotal
September 30, 2025Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized LossesNumber of Securities
Investment securities available for sale:
Asset-backed securities$— $— $1,469 $(16)$1,469 $(16)1
Mortgage-backed securities:
U.S. Government-sponsored enterprises— — 2,574 (439)2,574 (439)2
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises— — 14,837 (2,382)14,837 (2,382)7
Total investment securities available for sale$— $— $18,880 $(2,837)$18,880 $(2,837)10
Investment securities held to maturity:
Corporate bonds$— $— $2,375 $(125)$2,375 $(125)3
Total investment securities held to maturity$— $— $2,375 $(125)$2,375 $(125)3
The following table summarizes investment securities with unrealized losses at December 31, 2024 aggregated by security type and length of time in a continuous unrealized loss position:
Less than 12 Months12 Months or LongerTotal
December 31, 2024Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized LossesNumber of Securities
Investment securities available for sale:
Asset-backed securities$1,540 $(3)$3,450 $(36)$4,990 $(39)3
Mortgage-backed securities:
U.S. Government-sponsored enterprises4,412 (51)2,718 (610)7,130 (661)3
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises— — 15,286 (3,341)15,286 (3,341)7
Corporate bonds— — — — — — 0
Total investment securities available for sale$5,952 $(54)$21,454 $(3,987)$27,406 $(4,041)13
Investment securities held to maturity:
Corporate bonds$416 $(84)$1,930 $(70)$2,346 $(154)3
Total investment securities held to maturity$416 $(84)$1,930 $(70)$2,346 $(154)3
Schedule of Investments Classified by Contractual Maturity
The amortized cost and fair value of investment securities as of September 30, 2025 are shown in the table below by contractual maturity. Actual timing may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties.
Available for SaleHeld to Maturity
Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
One to five years$3,840 $3,881$1,500 $1,494
Five to ten years— —1,000 881
Beyond ten years28,774 25,976— —
Total$32,614 $29,857$2,500 $2,375
Schedule of Allowance for Credit Losses for Investment Securities
The following table presents the activity in the ACL for investment securities HTM by major security type for the three and nine months ended September 30, 2025 and September 30, 2024:
For the Three Months Ended
For the Nine Months Ended
For the Three Months Ended
For the Nine Months Ended
Corporate BondsSeptember 30, 2025September 30, 2024
Balance at beginning of period$9 $12 $14 $17 
Provision for credit losses on HTM investment securities— (3)(1)(4)
Investment securities charge-offs— — — — 
Investment securities recoveries— — — — 
Balance at end of period$9 $9 $13 $13 
Schedule of Investment Securities With Unrealized Losses
The following table summarizes investment securities with unrealized losses at September 30, 2025 aggregated by security type and length of time in a continuous unrealized loss position:
Less than 12 Months12 Months or LongerTotal
September 30, 2025Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized LossesNumber of Securities
Investment securities available for sale:
Asset-backed securities$— $— $1,469 $(16)$1,469 $(16)1
Mortgage-backed securities:
U.S. Government-sponsored enterprises— — 2,574 (439)2,574 (439)2
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises— — 14,837 (2,382)14,837 (2,382)7
Total investment securities available for sale$— $— $18,880 $(2,837)$18,880 $(2,837)10
Investment securities held to maturity:
Corporate bonds$— $— $2,375 $(125)$2,375 $(125)3
Total investment securities held to maturity$— $— $2,375 $(125)$2,375 $(125)3
The following table summarizes investment securities with unrealized losses at December 31, 2024 aggregated by security type and length of time in a continuous unrealized loss position:
Less than 12 Months12 Months or LongerTotal
December 31, 2024Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized LossesNumber of Securities
Investment securities available for sale:
Asset-backed securities$1,540 $(3)$3,450 $(36)$4,990 $(39)3
Mortgage-backed securities:
U.S. Government-sponsored enterprises4,412 (51)2,718 (610)7,130 (661)3
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises— — 15,286 (3,341)15,286 (3,341)7
Corporate bonds— — — — — — 0
Total investment securities available for sale$5,952 $(54)$21,454 $(3,987)$27,406 $(4,041)13
Investment securities held to maturity:
Corporate bonds$416 $(84)$1,930 $(70)$2,346 $(154)3
Total investment securities held to maturity$416 $(84)$1,930 $(70)$2,346 $(154)3
v3.25.3
LOANS (Tables)
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Schedule of Loans HFI Excluding Loans Measured at Fair Value
Loans HFI, excluding loans measured at fair value, at September 30, 2025 and December 31, 2024 were as follows:
September 30,
2025		December 31,
2024
Real estate:
Residential
$364,020 $330,870 
Commercial
231,039 305,721 
Construction and land
43,700 32,914 
Commercial and industrial
194,654 226,522 
Commercial and industrial - PPP
13 941 
Consumer and other
90,946 93,826 
Loans HFI, excluding loans measured at fair value, gross
924,372 990,794 
Deferred loan costs, net
17,096 19,499 
Discount on government guaranteed loans(1)
(7,506)(8,306)
Premium on loans purchased, net
2,941 3,739 
Allowance for credit losses
(24,485)(15,512)
Net loans HFI, excluding loans measured at fair value
$912,418 $990,214 
(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.
v3.25.3
ALLOWANCE FOR CREDIT LOSSES (Tables)
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Schedule of Allowance for Credit Losses by Loan Segment, for Unfunded Commitments and Recorded Investment in Loans by Loan Segment
The following schedules present the activity in the ACL by loan segment for the three and nine months ended September 30, 2025 and September 30, 2024:
Three Months EndedReal Estate - ResidentialReal Estate - CommercialReal Estate - Construction and LandCommercial and IndustrialCommercial and Industrial - PPPConsumer and OtherTotal
September 30, 2025
Beginning Balance$1,179 $2,135 $847 $11,106 $— $1,774 $17,041 
Charge-offs(121)— — (3,185)(1)(312)(3,619)
Recoveries— 2 — 191 — 132 325 
Provision1,224 (150)(231)9,526 1 368 10,738 
Ending Balance$2,282 $1,987 $616 $17,638 $— $1,962 $24,485 
September 30, 2024
Beginning Balance$1,234 $1,864 $555 $7,714 $— $2,476 $13,843 
Charge-offs(20)— — (2,375)— (550)(2,945)
Recoveries— 2 — 111 — 75 188 
Provision(41)(3)(41)2,855 — 330 3,100 
Ending Balance$1,173 $1,863 $514 $8,305 $— $2,331 $14,186 
Real Estate - ResidentialReal Estate - CommercialReal Estate - Construction and LandCommercial and IndustrialCommercial and Industrial - PPPConsumer and OtherTotal
Nine Months Ended
September 30, 2025
Beginning Balance$1,181 $2,096 $507 $9,607 $— $2,121 $15,512 
Charge-offs(963)(431)— (11,212)(1)(1,763)(14,370)
Recoveries27 4 — 654 — 291 976 
Provision2,037 318 109 18,589 1 1,313 22,367 
Ending Balance$2,282 $1,987 $616 $17,638 $— $1,962 $24,485 
September 30, 2024
Beginning Balance$1,987 $1,818 $519 $6,579 $— $2,594 $13,497 
Charge-offs(20)(60)— (7,898)— (2,299)(10,277)
Recoveries— 6 — 352 — 249 607 
Provision(794)99 (5)9,272 — 1,787 10,359 
Ending Balance$1,173 $1,863 $514 $8,305 $— $2,331 $14,186 
Schedule of Allowance for Credit Loss on Unfunded Commitments
The following table presents the activity in the ACL for unfunded commitments for the three and nine months ended September 30, 2025 and September 30, 2024:
For the Three Months Ended
For the Nine Months Ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Balance at beginning of period$554 $641 $516 $839 
Provision for credit losses on unfunded commitments177 23 215 (175)
Unfunded commitments charge-offs— — — — 
Unfunded commitments recoveries— — — — 
Balance at end of period$731 $664 $731 $664 
Schedule of Recorded Investment in Nonaccrual and Loans Past Due over 89 Days Still on Accrual by Loan Segment
The following tables present the principal balance of nonaccrual loans and loans past due over 89 days on accrual by loan segment at September 30, 2025 and December 31, 2024. In the following tables, the principal balance does not include the government guaranteed balance or loans measured at fair value.
September 30, 2025
Nonaccrual with no ACL(1)
Nonaccrual with ACL(1)
Loans Past Due Over
89 Days and Accruing(1)
Real estate - residential
$— $4,861 $— 
Real estate - commercial
2,628 4,026 — 
Real estate - construction and land
— 815 
Commercial and industrial
1,160 2,194 — 
Consumer and other
— 83 55 
Total
$3,788 $11,979 $55 
December 31, 2024
Nonaccrual with no ACL(1)
Nonaccrual with ACL(1)
Loans Past Due Over
89 Days and Accruing(1)
Real estate - residential
$— $5,818 $— 
Real estate - commercial
2,709 2,052 — 
Commercial and industrial
— 2,696 — 
Consumer and other— — 295 
Total
$2,709 $10,566 $295 
(1) Excludes loans measured at fair value. See Note 6. Fair Value for additional information.
Schedule of Credit Exposure for the Loan Portfolio Disaggregated by Loan Segment The following tables present the principal balance, including government guaranteed balances, of individually analyzed collateral dependent loans by loan portfolio segment as of September 30, 2025 and December 31, 2024:
September 30, 2025Type of CollateralACL
Real Estate
Real estate - commercial$2,628 $— 
Commercial and industrial1,160 — 
Total$3,788 $— 
.
December 31, 2024Type of CollateralACL
Real Estate
Real estate - commercial$2,709 $— 
The table below sets forth principal balance for the commercial loan portfolio disaggregated by loan segment based on internally assigned risk ratings at September 30, 2025 and gross write offs for the nine months ended September 30, 2025:
RevolvingRevolving
LoansLoans
Term Loans Amortized Cost Basis by Origination YearAmortizedConverted
20252024202320222021PriorCost Basisto TermTotal
Real estate - commercial
Risk Rating
Pass$21,209 $52,576 $38,491 $44,020 $23,862 $30,815 $3,243 $— $214,216 
Special mention— 80 499 615 111 374 15 — 1,694 
Substandard— 2,735 3,081 3,340 4,429 1,544 — — 15,129 
Doubtful— — — — — — — — — 
Total real estate - commercial loans, at amortized cost, gross21,209 55,391 42,071 47,975 28,402 32,733 3,258 — 231,039 
Gross write offs— — 130 216 — 85 — — 431 
RevolvingRevolving
LoansLoans
Term Loans Amortized Cost Basis by Origination YearAmortizedConverted
20252024202320222021PriorCost Basisto TermTotal
Real estate - construction and land
Risk Rating
Pass3,229 5,926 15,118 8,407 1,062 — — — 33,742 
Special mention— — — — — — — — — 
Substandard— — 9,958 — — — — — 9,958 
Doubtful— — — — — — — — — 
Total real estate - construction and land loans, at amortized cost, gross3,229 5,926 25,076 8,407 1,062 — — — 43,700 
Gross write offs— — — — — — — — — 
Commercial and industrial
Risk Rating
Pass39,139 46,648 33,371 24,340 3,583 22,561 10,734 — 180,376 
Special mention22 562 1,163 1,376 172 683 252 — 4,230 
Substandard44 1,315 3,248 1,782 374 3,041 — — 9,804 
Doubtful72 — 22 57 8 85 — — 244 
Total commercial and industrial loans, at amortized cost, gross39,277 48,525 37,804 27,555 4,137 26,370 10,986 — 194,654 
Gross write offs135 2,234 3,615 2,347 319 2,529 33 — 11,212 
Commercial and industrial - PPP
Risk Rating
Pass— — — — — 13 — — 13 
Special mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful— — — — — — — — — 
Total commercial and industrial - PPP loans, at amortized cost, gross— — — — — 13 — — 13 
Gross write offs— — — — — 1 — — 1 
The table below sets forth principal balance for the commercial loan portfolio disaggregated by loan segment based on internally assigned risk ratings at December 31, 2024 and gross write offs for the year ended December 31, 2024:
RevolvingRevolving
LoansLoans
Term Loans Amortized Cost Basis by Origination YearAmortizedConverted
2024202320222021PriorCost Basisto TermTotal
Real estate - commercial
Risk Rating
Pass$58,597 $67,244 $67,994 $46,851 $52,733 $2,430 $— $295,849 
Special mention153 919 2,890 538 489 15 — 5,004 
Substandard— 2,971 857 99 941 — — 4,868 
Doubtful— — — — — — — — 
Total real estate - commercial loans, at amortized cost, gross58,750 71,134 71,741 47,488 54,163 2,445 — 305,721 
Gross write offs— — 60 — — — — 60 
Real estate - construction and land
Risk Rating
Pass1,947 18,261 9,891 2,815 — — — 32,914 
Special mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total real estate - construction and land loans, at amortized cost, gross1,947 18,261 9,891 2,815 — — — 32,914 
Gross write offs— — — — — — — — 
Commercial and industrial
Risk Rating
Pass84,402 40,301 32,982 10,715 36,641 8,778 — 213,819 
Special mention189 1,991 3,003 682 3,696 — — 9,561 
Substandard31 1,464 725 — 626 116 — 2,962 
Doubtful— 93 — 7 80 — — 180 
Total commercial and industrial loans, at amortized cost, gross84,622 43,849 36,710 11,404 41,043 8,894 — 226,522 
Gross write offs— 3,286 3,210 361 4,099 — — 10,956 
RevolvingRevolving
LoansLoans
Term Loans Amortized Cost Basis by Origination YearAmortizedConverted
2024202320222021PriorCost Basisto TermTotal
Commercial and industrial - PPP
Risk Rating
Pass— — — 135 302 — — 437 
Special mention— — — — 504 — — 504 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total commercial and industrial - PPP loans, at amortized cost, gross— — — 135 806 — — 941 
Gross write offs— — — — — — — — 
The following table presents the principal balance at September 30, 2025 of residential and consumer loans based on payment activity as well as gross write offs for the nine months ended September 30, 2025.
RevolvingRevolving
LoansLoans
Term Loans Amortized Cost Basis by Origination YearAmortizedConverted
20252024202320222021PriorCost Basisto TermTotal
Real estate - residential
Payment Performance
Performing$8,856 $33,761 $25,087 $68,521 $21,808 $16,080 $185,046 $— $359,159 
Nonperforming— — 312 799 490 2,402 858 — 4,861 
Total real estate - residential loans, at amortized cost, gross8,856 33,761 25,399 69,320 22,298 18,482 185,904 — 364,020 
Gross write offs— — — 121 — — 842 — 963 
RevolvingRevolving
LoansLoans
Term Loans Amortized Cost Basis by Origination YearAmortizedConverted
20252024202320222021PriorCost Basisto TermTotal
Consumer and other
Payment Performance
Performing11,893 52,314 19,091 5,294 207 50 1,959 — 90,808 
Nonperforming— 83 — 55 — — — — 138 
Total consumer and other loans, at amortized cost, gross11,893 52,397 19,091 5,349 207 50 1,959 — 90,946 
Gross write offs43 641 209 815 22 9 24 — 1,763 
The following table presents the principal balance at December 31, 2024 of residential and consumer loans based on payment activity as well as gross write offs for the year ended December 31, 2024.
RevolvingRevolving
LoansLoans
Term Loans Amortized Cost Basis by Origination YearAmortizedConverted
2024202320222021PriorCost Basisto TermTotal
Real estate - residential
Payment Performance
Performing$29,086 $26,473 $65,598 $32,235 $26,395 $145,265 $— $325,052 
Nonperforming— — 3,565 293 — 1,960 — 5,818 
Total real estate - residential loans, at amortized cost, gross29,086 26,473 69,163 32,528 26,395 147,225 — 330,870 
Gross write offs— — — — 20 — — 20 
Consumer and other
Payment Performance
Performing59,591 21,860 9,840 603 53 1,584 — 93,531 
Nonperforming84 — 186 — — 25 — 295 
Total consumer and other loans, at amortized cost, gross59,675 21,860 10,026 603 53 1,609 — 93,826 
Gross write offs— 236 2,351 35 316 — — 2,938 
Schedule of Aging of Recorded Investment in Past Due Gross Loans at Amortized Cost
The following table presents the aging of the principal balance of past due loans HFI at amortized cost at September 30, 2025 by loan segment:
30-89 Days
Past Due		Greater Than
89 Days
Past Due
Total
Past Due
Loans Not
Past Due (1)
Total
Loans
Real estate - residential
$3,868 $4,496 $8,364 $355,656 $364,020 
Real estate - commercial
840 3,394 4,234 226,805 231,039 
Real estate - construction and land
— 814 814 42,886 43,700 
Commercial and industrial
3,659 1,312 4,971 189,683 194,654 
Commercial and industrial - PPP
— — — 13 13 
Consumer and other
1,214 55 1,269 89,677 90,946 
Total
$9,581 $10,071 $19,652 $904,720 $924,372 
(1) $437 of balances 30-89 days past due and $7,422 of balances greater than 89 days past due are reported as Loans Not Past Due as a result of the government guarantee.
The following table presents the aging of the principal balance of past due loans HFI at amortized cost at December 31, 2024 by loan segment:
30-89 Days
Past Due		Greater Than
89 Days
Past Due
Total
Past Due
Loans Not
Past Due (1)
Total
Loans
Real estate - residential
$1,049 $5,818 $6,867 $324,003 $330,870 
Real estate - commercial
1,857 4,492 6,349 299,372 305,721 
Real estate - construction and land
— — — 32,914 32,914 
Commercial and industrial
3,572 1,561 5,133 221,389 226,522 
Commercial and industrial - PPP
— — — 941 941 
Consumer and other
417 295 712 93,114 93,826 
Total
$6,895 $12,166 $19,061 $971,733 $990,794 
(1) $10,429 of balances 30-89 days past due and $3,407 of balances greater than 89 days past due are reported as Loans Not Past Due as a result of the government guarantee. Of those loans, $135 of commercial and industrial PPP loans were delinquent as of December 31, 2024.
v3.25.3
FAIR VALUE (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets measured at fair value on a recurring basis at September 30, 2025 are summarized below. There were no liabilities carried at fair value on a recurring basis at September 30, 2025.
Quoted Prices in
Active Markets
for Identical Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Financial assets
Investment securities available for sale
$— $29,857 $— $29,857 
Government guaranteed loans HFI, at fair value
— — 61,780 61,780 
Assets measured at fair value on a recurring basis at December 31, 2024 are summarized below. There were no liabilities carried at fair value on a recurring basis at December 31, 2024.
Quoted Prices in
Active Markets
for Identical Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Financial assets
Investment securities available for sale
$— $36,291 $— $36,291 
Government guaranteed loans HFI, at fair value
— — 60,833 60,833 
Schedule of Fair Value for Loans
The following tables provide more information about the fair value carrying amount and the unpaid principal outstanding of HFI government guaranteed loans measured at fair value at September 30, 2025 and December 31, 2024.
September 30, 2025
Total Loans
Nonaccrual(1)
90 Days or More Past Due(1)
Fair Value Carrying AmountUnpaid Principal BalanceFair Value Gain (Loss)Fair Value Carrying AmountUnpaid Principal BalanceFair Value Gain (Loss)Fair Value Carrying AmountUnpaid Principal BalanceFair Value Gain (Loss)
Real estate - commercial
$12,808 $12,630 $178 $244 $243 $1 $— $— $— 
Commercial and industrial
48,972 53,665 (4,693)1,141 6,372 (5,231)— — — 
Total loans HFI, at fair value$61,780 $66,295 $(4,515)$1,385 $6,615 $(5,230)$— $— $— 
December 31, 2024
Total Loans
Nonaccrual(1)
90 Days or More Past Due(1)
Fair Value Carrying AmountUnpaid Principal BalanceFair Value Gain (Loss)Fair Value Carrying AmountUnpaid Principal BalanceFair Value Gain (Loss)Fair Value Carrying AmountUnpaid Principal BalanceFair Value Gain (Loss)
Real estate - commercial
$15,136 $15,075 $61 $— $— $— $— $— $— 
Commercial and industrial
45,697 46,981 (1,284)1,491 2,630 (1,139)— — — 
Total loans HFI, at fair value$60,833 $62,056 $(1,223)$1,491 $2,630 $(1,139)$— $— $— 
(1) The nonaccrual and 90 days or more past due loan balances do not include the portion of government guaranteed loan balances.
The total amount of net gains and losses from changes in fair value and interest income included in earnings for the nine months ended September 30, 2025 and September 30, 2024 for government guaranteed loans HFI, at fair value, were as follows:
Nine Months Ended September 30,
20252024
Interest income$6,074 $5,978 
Change in fair value805 9,923 
Total gain, net
$6,879 $15,901 
Schedule of Valuation Technique and Unobservable Inputs Used in the Valuation of Government Guaranteed Loans HFI, at Fair Value
The table below presents a reconciliation of government guaranteed loans HFI, at fair value, which were valued on a recurring basis and used significant unobservable inputs (Level 3) for the nine months ended September 30, 2025 and September 30, 2024:
 Nine Months Ended September 30,
20252024
Balance of government guaranteed loans HFI at fair value, beginning of period
$60,833 $91,508 
New government guaranteed originations at fair value51,287 105,754 
Loans sold(32,884)(116,977)
Principal payments
(6,285)(3,767)
Transfer to HFS
(11,976)— 
Total fair value gains (losses) during the period
805 9,923 
Balance of government guaranteed loans HFI at fair value, end of period
$61,780 $86,441 
The following table provides information about the valuation techniques and unobservable inputs used in the valuation of government guaranteed loans HFI that fall within Level 3 of the fair value hierarchy at September 30, 2025 and December 31, 2024:
Fair ValueValuation
Technique		Unobservable InputsRange (Weighted Average)
September 30, 2025
Government guaranteed loans HFI, at fair value
$61,780 DiscountedDiscount rate
5.61%-9.11% (8.76%)
cash flowConditional prepayment rate
5.77%-18.43% (9.33%)
December 31, 2024
Government guaranteed loans HFI, at fair value
$60,833 DiscountedDiscount rate
6.07%-9.57% (8.69%)
cash flowConditional prepayment rate
0.00%-18.13% (11.61%)
Schedule of Assets Measured at Fair Value on a Nonrecurring Basis
Assets measured at fair value on a nonrecurring basis at September 30, 2025 are summarized below:
 Fair ValueValuation Technique(s)Significant
Unobservable
Input(s)		Discount % AmountValuation Level
SBA loans held for sale$94,052 Transaction priceNA—%2
Individually evaluated loans
$3,788 Discounted appraisals, estimated net realizable value of collateralCollateral discounts10%3
Other real estate owned
$400 Discounted appraisals, estimated net realizable value of collateralCollateral discounts10%3
Repossessed assets
$32 Discounted appraisals, estimated net realizable value of collateralCollateral discounts10%3
Assets measured at fair value on a nonrecurring basis at December 31, 2024 are summarized below:
Fair ValueValuation Technique(s)Significant
Unobservable
Input(s)		Discount % AmountValuation level
Individually evaluated loans
$2,709 Discounted appraisals, estimated net realizable value of collateralCollateral discounts
10%
3
Other real estate owned$132 Discounted appraisals, estimated net realizable value of collateralCollateral discounts10%3
Repossessed assets$36 Discounted appraisals, estimated net realizable value of collateralCollateral discounts10%3
Schedule 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 September 30, 2025 and December 31, 2024 are as follows:
September 30, 2025December 31, 2024
LevelCarrying ValueFair ValueCarrying ValueFair Value
Assets:
Cash and cash equivalents
1$118,550 $118,550 $77,788 $77,788 
Time deposits in banks
21,284 1,280 2,270 2,212 
Investment securities held to maturity
22,491 2,375 2,488 2,346 
Nonmarketable equity securities, at cost
27,028 7,028 4,526 4,526 
Loans HFI, at amortized cost
3912,418 927,651 990,214 986,406 
Accrued interest receivable
28,898 8,898 9,155 9,155 
Government guaranteed loan servicing rights
315,663 19,503 16,534 19,473 
Liabilities:
Noninterest-bearing deposit accounts
2$105,937 $105,937 $101,743 $101,743 
Interest-bearing transaction accounts
2210,336 210,336 256,793 256,793 
Savings and money market deposit accounts
2479,262 479,262 474,425 474,425 
Time deposits
2375,922 376,548 310,268 307,925 
FHLB borrowings250,000 50,000 — — 
Subordinated notes
25,961 5,563 5,956 5,511 
Notes payable
21,593 1,580 1,934 1,919 
Accrued interest payable
21,082 1,082 1,036 1,036 
v3.25.3
GOVERNMENT GUARANTEED LOAN SERVICING ACTIVITIES (Tables)
 9 Months Ended
Sep. 30, 2025
Transfers and Servicing [Abstract]  
Schedule of Activity for Government Guaranteed Loan Servicing Rights
Activity for government guaranteed loan servicing rights for the three and nine months ended September 30, 2025 and September 30, 2024 follows:
Three Months EndedNine Months Ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Beginning of period
$16,074 $15,770 $16,534 $14,959 
Additions
1,274 1,704 4,489 5,396 
Amortization
(1,685)(1,508)(5,360)(4,389)
End of period
$15,663 $15,966 $15,663 $15,966 
Schedule of Net Gain on Sale of Government Guaranteed Loans
The following table presents the components of net gain on sale of government guaranteed loans for the three and nine months ended September 30, 2025 and September 30, 2024:
Three Months EndedNine Months Ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Gain on sale of guaranteed portion of government guaranteed loans
$1,789 $4,439 $12,037 $14,431 
Fair value of loan servicing rights created
1,274 1,704 4,489 5,396 
Gain on sale of government guaranteed loans, net
$3,063 $6,143 $16,526 $19,827 
v3.25.3
LEASES (Tables)
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Schedule of Total Lease Cost and Supplemental Information
For the three and nine months ended September 30, 2025 and September 30, 2024, the components of total lease cost and supplemental information related to operating leases were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Operating lease cost
$561 $202 $1,712 $699 
Short-term lease cost
35 30 142 102 
Total lease cost, net (1)
$596 $232 $1,854 $801 
(1) There were no lease costs reported as discontinued operations for the three and nine months ended September 30, 2025 and for the three months ended September 30, 2024 and $131 for the nine months ended September 30, 2024.
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Cash flows related to operating lease liabilities
$242 $151 738 600 
Right-of-use assets obtained in exchange for new operating lease liabilities
— — — 296 
Schedule of Future Minimum Lease Payments
The future minimum lease payments for operating leases, subsequent to September 30, 2025, as recorded on the balance sheet, are summarized as follows:
2025$412 
20262,119 
20271,751 
20281,313 
20291,339 
Thereafter14,961 
Total undiscounted lease payments
$21,895 
Less: imputed interest
(8,341)
Net lease liabilities
$13,554 
v3.25.3
STOCK-BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Nonvested Restricted Shares
A summary of changes in the Company’s nonvested restricted shares for the nine months ended September 30, 2025 and September 30, 2024 follows:
SharesWeighted-Average
Grant-Date
Fair Value, per share
Nonvested at January 1, 2025
47,485 $14.54 
Granted
25,800 15.78 
Vested
(24,225)(13.23)
Forfeited
(1,680)(15.41)
Nonvested at September 30, 2025
47,380 $15.85 
SharesWeighted-Average
Grant-Date
Fair Value, per share
Nonvested at January 1, 2024
52,195 $18.75 
Granted
30,650 11.70 
Vested
(29,835)(18.24)
Forfeited
(1,125)(16.05)
Nonvested at September 30, 2024
51,885 $14.93 
Schedule of Activity in the Equity Plan
A summary of the activity in the Equity Plan for the nine months ended September 30, 2025 and September 30, 2024 follows:
SharesWeighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term (in years)		Aggregate
Intrinsic
Value
Outstanding at January 1, 2025
364,063 $15.68 
Exercised
(1,050)(14.67)
Forfeited
(195)(14.67)
Outstanding at September 30, 2025
362,818 $15.68 3.89$— 
Vested and exercisable at September 30, 2025
357,748 $15.69 3.87$— 
SharesWeighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term (in years)		Aggregate
Intrinsic
Value
Outstanding at January 1, 2024
367,033 $15.68 
Forfeited
(2,970)(15.56)
Outstanding at September 30, 2024
364,063 $15.57 4.92$— 
Vested and exercisable at September 30, 2024
349,385 $15.71 4.88$— 
v3.25.3
REGULATORY MATTERS (Tables)
 9 Months Ended
Sep. 30, 2025
Banking And Thrift Disclsoure [Abstract]  
Schedule of Actual and Required Capital Amounts and Ratios for the Bank Actual and required capital amounts and ratios for the Bank are presented below at September 30, 2025:
Actual
Required for Capital
Adequacy Purposes
To be Well
Capitalized Under
Prompt Corrective
Action Regulations
AmountRatioAmount
Ratio
AmountRatio
Total Capital
(to Risk Weighted Assets)
$102,017 9.71%$84,088 8.00%$105,111 10.00%
Tier 1 Capital
(to Risk Weighted Assets)
$88,737 8.44%$63,066 6.00%$84,088 8.00%
Common Equity Tier 1 Capital
(to Risk Weighted Assets)
$88,737 8.44%$47,300 4.50%$68,322 6.50%
Tier 1 Capital
(to Average Assets)
$88,737 6.64%$53,458 4.00%$66,823 5.00%
Actual and required capital amounts and ratios for the Bank are presented below at December 31, 2024:
Actual
Required for Capital
Adequacy Purposes
To be Well
Capitalized Under
Prompt Corrective
Action Regulations
AmountRatioAmountRatioAmountRatio
Total Capital
(to Risk Weighted Assets)
$124,420 12.14%$81,985 8.00%$102,482 10.00%
Tier 1 Capital
(to Risk Weighted Assets)
$111,586 10.89%$61,489 6.00%$81,985 8.00%
Common Equity Tier 1 Capital
(to Risk Weighted Assets)
$111,586 10.89%$46,117 4.50%$66,613 6.50%
Tier 1 Capital
(to Average Assets)
$111,586 8.82%$50,579 4.00%$63,224 5.00%
v3.25.3
LOAN COMMITMENTS AND OTHER RELATED ACTIVITIES (Tables)
 9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Financial Instruments With Off-Balance Sheet Risk
The contractual amounts of financial instruments with off-balance sheet risk at September 30, 2025 and December 31, 2024 were as follows:
September 30, 2025December 31, 2024
Unfunded loan commitments
$34,878 $21,174 
Unused lines of credit
221,625 199,411 
Standby letters of credit
1,259 276 
v3.25.3
EARNINGS PER COMMON SHARE (Tables)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Common Share
The following table sets forth the computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2025 and September 30, 2024:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Basic:
Income (loss) from continuing operations
$(18,902)$1,137 $(20,474)$2,896 
Loss from discontinued operations
— — — (69)
Net income (loss)
(18,902)1,137 (20,474)2,827 
Less: Preferred stock dividends
385 385 1,156 1,156 
Net income available to (loss attributable to) common shareholders
$(19,287)$752 $(21,630)$1,671 
Weighted average common shares outstanding
4,135,106 4,134,169 4,135,949 4,133,082 
Basic earnings (loss) per common share:
Continuing operations
$(4.66)$0.18 $(5.23)$0.42 
Discontinued operations
— — — (0.02)
Total
$(4.66)$0.18 $(5.23)$0.40 
Diluted:
Income (loss) from continuing operations
$(18,902)$1,137 $(20,474)$2,896 
Loss from discontinued operations
— — — (69)
Net income (loss)
(18,902)1,137 (20,474)2,827 
Less: Preferred stock dividends
385 385 1,156 1,156 
Add: Series B preferred stock and preferred C stock dividends
— — — — 
Net income available to (loss attributable to) common shareholders
$(19,287)$752 $(21,630)$1,671 
Weighted average common shares outstanding for basic earnings per common share
4,135,106 4,134,169 4,135,949 4,133,082 
Add: Dilutive effects of conversion of Series B preferred stock and Preferred C to common stock
— — — — 
Add: Dilutive effects of assumed exercises of stock options and warrants
— — — — 
Average shares and dilutive potential common shares
4,135,106 4,134,169 4,135,949 4,133,082 
Diluted earnings (loss) per common share:
Continuing operations
$(4.66)$0.18 $(5.23)$0.42 
Discontinued operations
— — — (0.02)
Total
$(4.66)$0.18 $(5.23)$0.40 
Schedule of Antidilutive Securities Excluded from Calculation of Weighted Average Shares Outstanding
The following securities outstanding at September 30, 2025 and September 30, 2024 have been excluded from the calculation of weighted average shares outstanding as their effect on the calculation of earnings (loss) per share are antidilutive:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Common stock options
363,917364,576363,192365,680
Convertible Series B preferred stock3,2103,2103,2103,210
Convertible Series C preferred stock6,4466,4466,4466,446
v3.25.3
BASIS OF PRESENTATION (Details)
 9 Months Ended
Sep. 30, 2025
segment
Accounting Policies [Abstract]  
Number of business segments 1
v3.25.3
DISCONTINUED OPERATIONS - Narrative (Details) - Discontinued Operations, Held-for-sale - Nationwide Residential Mortgage Loan Production Operations - USD ($)
Sep. 30, 2025
Dec. 31, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Assets $ 0 $ 0
Liabilities $ 0 $ 0
v3.25.3
DISCONTINUED OPERATIONS - Operating Results of the Discontinued Operations of the Sba 7(a) Lending and Residential Mortgage Lending Division (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Loss from discontinued operations before income taxes $ 0 $ 0 $ 0 $ (92)
Income tax benefit 0 0 0 (23)
Net loss from discontinued operations $ 0 0 $ 0 (69)
Discontinued Operations, Held-for-sale | Nationwide Residential Mortgage Loan Production Operations        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Noninterest income   0   51
Total net revenue   0   51
Noninterest expense   0   143
Loss from discontinued operations before income taxes   0   (92)
Income tax benefit   0   (23)
Net loss from discontinued operations   $ 0   $ (69)
v3.25.3
INVESTMENT SECURITIES - Debt Securities Available for Sale and Held to Maturity (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Debt Securities, Available-for-Sale [Line Items]            
Amortized
Cost $ 32,614   $ 40,279      
Gross
Unrealized
Gains 80   53      
Gross
Unrealized
Losses (2,837)   (4,041)      
Fair
Value 29,857   36,291      
Schedule of Held-to-Maturity Securities [Line Items]            
Amortized
Cost 2,500   2,500      
Gross
Unrealized
Gains 0   0      
Gross
Unrealized
Losses (125)   (154)      
Fair
Value 2,375   2,346      
ACL 9 $ 9 12 $ 13 $ 14 $ 17
Asset-backed securities            
Debt Securities, Available-for-Sale [Line Items]            
Amortized
Cost 2,942   5,029      
Gross
Unrealized
Gains 4   0      
Gross
Unrealized
Losses (16)   (39)      
Fair
Value 2,930   4,990      
Mortgage-backed securities: U.S. Government-sponsored enterprises            
Debt Securities, Available-for-Sale [Line Items]            
Amortized
Cost 5,390   7,791      
Gross
Unrealized
Gains 15   0      
Gross
Unrealized
Losses (439)   (661)      
Fair
Value 4,966   7,130      
Collateralized mortgage obligations: U.S. Government-sponsored enterprises            
Debt Securities, Available-for-Sale [Line Items]            
Amortized
Cost 20,442   18,627      
Gross
Unrealized
Gains 20   0      
Gross
Unrealized
Losses (2,382)   (3,341)      
Fair
Value 18,080   15,286      
Corporate bonds            
Debt Securities, Available-for-Sale [Line Items]            
Amortized
Cost 3,840   8,832      
Gross
Unrealized
Gains 41   53      
Gross
Unrealized
Losses 0   0      
Fair
Value 3,881   8,885      
Schedule of Held-to-Maturity Securities [Line Items]            
Amortized
Cost 2,500   2,500      
Gross
Unrealized
Gains 0   0      
Gross
Unrealized
Losses (125)   (154)      
Fair
Value 2,375   2,346      
ACL $ 9   $ 12      
v3.25.3
INVESTMENT SECURITIES - Investments Classified by Contractual Maturity (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Amortized
Cost    
One to five years $ 3,840  
Five to ten years 0  
Beyond ten years 28,774  
Amortized
Cost 32,614 $ 40,279
Fair
Value    
One to five years 3,881  
Five to ten years 0  
Beyond ten years 25,976  
Total 29,857 36,291
Amortized
Cost    
One to five years 1,500  
Five to ten years 1,000  
Beyond ten years 0  
Amortized
Cost 2,500 2,500
Fair
Value    
One to five years 1,494  
Five to ten years 881  
Beyond ten years 0  
Total $ 2,375 $ 2,346
v3.25.3
INVESTMENT SECURITIES - Narrative (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]            
Allowance for credit loss for HTM securities $ 9 $ 9 $ 12 $ 13 $ 14 $ 17
v3.25.3
INVESTMENT SECURITIES - Allowance for Credit Losses for Investment Securities (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]        
Beginning Balance $ 9 $ 14 $ 12 $ 17
Provision for credit losses on HTM investment securities 0 (1) (3) (4)
Investment securities charge-offs 0 0 0 0
Investment securities recoveries 0 0 0 0
Ending Balance $ 9 $ 13 $ 9 $ 13
v3.25.3
INVESTMENT SECURITIES - Investment Securities With Unrealized Losses (Details)
$ in Thousands
Sep. 30, 2025
USD ($)
security
Dec. 31, 2024
USD ($)
security
Investment securities available for sale:    
Less than 12 months, Fair Value $ 0 $ 5,952
Less than 12 months, Unrealized Losses 0 (54)
12 months or longer, Fair Value 18,880 21,454
12 months or longer, Unrealized Losses (2,837) (3,987)
Total Fair Value 18,880 27,406
Total Unrealized Losses $ (2,837) $ (4,041)
Number of Securities | security 10 13
Investment securities held to maturity:    
Less than 12 months, Fair Value $ 0 $ 416
Less than 12 months, Unrealized Losses 0 (84)
12 months or longer, Fair Value 2,375 1,930
12 months or longer, Unrealized Losses (125) (70)
Total Fair Value 2,375 2,346
Total Unrealized Losses $ (125) $ (154)
Number of Securities | security 3 3
Asset-backed securities    
Investment securities available for sale:    
Less than 12 months, Fair Value $ 0 $ 1,540
Less than 12 months, Unrealized Losses 0 (3)
12 months or longer, Fair Value 1,469 3,450
12 months or longer, Unrealized Losses (16) (36)
Total Fair Value 1,469 4,990
Total Unrealized Losses $ (16) $ (39)
Number of Securities | security 1 3
Mortgage-backed securities: U.S. Government-sponsored enterprises    
Investment securities available for sale:    
Less than 12 months, Fair Value $ 0 $ 4,412
Less than 12 months, Unrealized Losses 0 (51)
12 months or longer, Fair Value 2,574 2,718
12 months or longer, Unrealized Losses (439) (610)
Total Fair Value 2,574 7,130
Total Unrealized Losses $ (439) $ (661)
Number of Securities | security 2 3
Collateralized mortgage obligations: U.S. Government-sponsored enterprises    
Investment securities available for sale:    
Less than 12 months, Fair Value $ 0 $ 0
Less than 12 months, Unrealized Losses 0 0
12 months or longer, Fair Value 14,837 15,286
12 months or longer, Unrealized Losses (2,382) (3,341)
Total Fair Value 14,837 15,286
Total Unrealized Losses $ (2,382) $ (3,341)
Number of Securities | security 7 7
Corporate bonds    
Investment securities available for sale:    
Less than 12 months, Fair Value   $ 0
Less than 12 months, Unrealized Losses   0
12 months or longer, Fair Value   0
12 months or longer, Unrealized Losses   0
Total Fair Value   0
Total Unrealized Losses   $ 0
Number of Securities | security   0
Investment securities held to maturity:    
Less than 12 months, Fair Value $ 0 $ 416
Less than 12 months, Unrealized Losses 0 (84)
12 months or longer, Fair Value 2,375 1,930
12 months or longer, Unrealized Losses (125) (70)
Total Fair Value 2,375 2,346
Total Unrealized Losses $ (125) $ (154)
Number of Securities | security 3 3
v3.25.3
LOANS (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Loans HFI, excluding loans measured at fair value, gross $ 924,372   $ 990,794      
Deferred loan costs, net 17,096   19,499      
Discount on government guaranteed loans (7,506)   (8,306)      
Premium on loans purchased, net 2,941   3,739      
Allowance for credit losses (24,485) $ (17,041) (15,512) $ (14,186) $ (13,843) $ (13,497)
Net loans HFI, at amortized cost 912,418   990,214      
Residential            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Loans HFI, excluding loans measured at fair value, gross 364,020   330,870      
Allowance for credit losses (2,282) (1,179) (1,181) (1,173) (1,234) (1,987)
Commercial            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Loans HFI, excluding loans measured at fair value, gross 231,039   305,721      
Allowance for credit losses (1,987) (2,135) (2,096) (1,863) (1,864) (1,818)
Construction and land            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Loans HFI, excluding loans measured at fair value, gross 43,700   32,914      
Allowance for credit losses (616) (847) (507) (514) (555) (519)
Commercial and Industrial            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Loans HFI, excluding loans measured at fair value, gross 194,654   226,522      
Allowance for credit losses (17,638) (11,106) (9,607) (8,305) (7,714) (6,579)
Commercial and industrial - PPP            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Loans HFI, excluding loans measured at fair value, gross 13   941      
Allowance for credit losses 0   0 0   0
Consumer and other            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Loans HFI, excluding loans measured at fair value, gross 90,946   93,826      
Allowance for credit losses $ (1,962) $ (1,774) $ (2,121) $ (2,331) $ (2,476) $ (2,594)
v3.25.3
ALLOWANCE FOR CREDIT LOSSES - Allowance for Credit Losses by Loan Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance $ 17,041 $ 13,843 $ 15,512 $ 13,497
Transfer to HFS (3,619) (2,945) (14,370) (10,277)
Recoveries 325 188 976 607
Provision 10,738 3,100 22,367 10,359
Ending balance 24,485 14,186 24,485 14,186
Real Estate - Residential        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance 1,179 1,234 1,181 1,987
Transfer to HFS (121) (20) (963) (20)
Recoveries 0 0 27 0
Provision 1,224 (41) 2,037 (794)
Ending balance 2,282 1,173 2,282 1,173
Real Estate - Commercial        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance 2,135 1,864 2,096 1,818
Transfer to HFS 0 0 (431) (60)
Recoveries 2 2 4 6
Provision (150) (3) 318 99
Ending balance 1,987 1,863 1,987 1,863
Real Estate - Construction and Land        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance 847 555 507 519
Transfer to HFS 0 0 0 0
Recoveries 0 0 0 0
Provision (231) (41) 109 (5)
Ending balance 616 514 616 514
Commercial and Industrial        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance 11,106 7,714 9,607 6,579
Transfer to HFS (3,185) (2,375) (11,212) (7,898)
Recoveries 191 111 654 352
Provision 9,526 2,855 18,589 9,272
Ending balance 17,638 8,305 17,638 8,305
Commercial and industrial - PPP        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance     0 0
Transfer to HFS (1) 0 (1) 0
Recoveries 0 0 0 0
Provision 1 0 1 0
Ending balance 0 0 0 0
Consumer and Other        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance 1,774 2,476 2,121 2,594
Transfer to HFS (312) (550) (1,763) (2,299)
Recoveries 132 75 291 249
Provision 368 330 1,313 1,787
Ending balance $ 1,962 $ 2,331 $ 1,962 $ 2,331
v3.25.3
ALLOWANCE FOR CREDIT LOSSES - Narrative (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Receivables [Abstract]            
Allowance for credit loss for unfunded commitments $ 731 $ 554 $ 516 $ 664 $ 641 $ 839
v3.25.3
ALLOWANCE FOR CREDIT LOSSES - Allowance for Credit Losses for Unfunded Commitments (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Off-Balance-Sheet, Credit Loss, Liability [Roll Forward]        
Balance at beginning of period $ 554 $ 641 $ 516 $ 839
Provision for credit losses on unfunded commitments 177 23 215 (175)
Unfunded commitments charge-offs 0 0 0 0
Unfunded commitments recoveries 0 0 0 0
Balance at end of period $ 731 $ 664 $ 731 $ 664
v3.25.3
ALLOWANCE FOR CREDIT LOSSES - Recorded Investment in Nonaccrual and Loans Past Due over 89 Days Still on Accrual by Loan Segment (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual with no ACL $ 3,788 $ 2,709
Nonaccrual with ACL 11,979 10,566
Loans Past Due Over 89 Days and Accruing 55 295
Real estate - residential    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual with no ACL 0 0
Nonaccrual with ACL 4,861 5,818
Loans Past Due Over 89 Days and Accruing 0 0
Real estate - commercial    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual with no ACL 2,628 2,709
Nonaccrual with ACL 4,026 2,052
Loans Past Due Over 89 Days and Accruing 0 0
Real estate - construction and land    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual with no ACL 0  
Nonaccrual with ACL 815  
Loans Past Due Over 89 Days and Accruing  
Commercial and industrial    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual with no ACL 1,160 0
Nonaccrual with ACL 2,194 2,696
Loans Past Due Over 89 Days and Accruing 0 0
Consumer and other    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual with no ACL 0 0
Nonaccrual with ACL 83 0
Loans Past Due Over 89 Days and Accruing $ 55 $ 295
v3.25.3
ALLOWANCE FOR CREDIT LOSSES - Amortized Cost Basis of Individually Analyzed Collateral Dependent Loans (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]            
Loans HFI, excluding loans measured at fair value, gross $ 936,903   $ 1,005,726      
Allowance for credit loss 24,485 $ 17,041 15,512 $ 14,186 $ 13,843 $ 13,497
Real Estate            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Loans HFI, excluding loans measured at fair value, gross 3,788          
Allowance for credit loss 0          
Real Estate - Commercial            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Loans HFI, excluding loans measured at fair value, gross 231,039   305,721      
Allowance for credit loss 1,987 $ 2,135 2,096 $ 1,863 $ 1,864 $ 1,818
Real Estate - Commercial | Real Estate            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Loans HFI, excluding loans measured at fair value, gross 2,628   2,709      
Allowance for credit loss 0   $ 0      
Commercial and industrial | Real Estate            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Loans HFI, excluding loans measured at fair value, gross 1,160          
Allowance for credit loss $ 0          
v3.25.3
ALLOWANCE FOR CREDIT LOSSES - Aging of Recorded Investment in Past Due Gross Loans at Amortized Cost (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross $ 924,372 $ 990,794
Total Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 19,652 19,061
30-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 9,581 6,895
Government guaranteed loan balance 437 10,429
Greater Than 89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 10,071 12,166
Government guaranteed loan balance 7,422 3,407
Loans Not Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 904,720 971,733
Real estate - residential    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 364,020 330,870
Real estate - residential | Total Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 8,364 6,867
Real estate - residential | 30-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 3,868 1,049
Real estate - residential | Greater Than 89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 4,496 5,818
Real estate - residential | Loans Not Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 355,656 324,003
Real estate - commercial    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 231,039 305,721
Real estate - commercial | Total Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 4,234 6,349
Real estate - commercial | 30-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 840 1,857
Real estate - commercial | Greater Than 89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 3,394 4,492
Real estate - commercial | Loans Not Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 226,805 299,372
Real estate - construction and land    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 43,700 32,914
Real estate - construction and land | Total Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 814 0
Real estate - construction and land | 30-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 0 0
Real estate - construction and land | Greater Than 89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 814 0
Real estate - construction and land | Loans Not Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 42,886 32,914
Commercial and industrial    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 194,654 226,522
Commercial and industrial | Total Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 4,971 5,133
Commercial and industrial | 30-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 3,659 3,572
Commercial and industrial | Greater Than 89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 1,312 1,561
Commercial and industrial | Loans Not Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 189,683 221,389
Commercial and industrial - PPP    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 13 941
Commercial and industrial - PPP | Total Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 0 0
Commercial and industrial - PPP | 30-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 0 0
Commercial and industrial - PPP | Greater Than 89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 0 0
Commercial and industrial - PPP | Loans Not Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 13 941
Consumer and other    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 90,946 93,826
Consumer and other | Total Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 1,269 712
Consumer and other | 30-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 1,214 417
Consumer and other | Greater Than 89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross 55 295
Consumer and other | Loans Not Past Due    
Financing Receivable, Past Due [Line Items]    
Loans HFI, excluding loans measured at fair value, gross $ 89,677 93,114
PPP Loan Delinquencies    
Financing Receivable, Past Due [Line Items]    
Delinquent loans   $ 135
v3.25.3
ALLOWANCE FOR CREDIT LOSSES - Credit Exposure for the Loan Portfolio Disaggregated by Loan Segment (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Risk Rating    
Total $ 936,903 $ 1,005,726
Real estate - commercial    
Risk Rating    
Year one 21,209 58,750
Year two 55,391 71,134
Year three 42,071 71,741
Year four 47,975 47,488
Year five 28,402 54,163
Prior 32,733  
Revolving Loans Amortized Cost Basis 3,258 2,445
Revolving Loans Converted to Term 0 0
Total 231,039 305,721
Gross write offs    
Year one 0 0
Year two 0 0
Year three 130 60
Year four 216 0
Year five 0  
Prior 85  
Prior   0
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 431 60
Real estate - commercial | Pass    
Risk Rating    
Year one 21,209 58,597
Year two 52,576 67,244
Year three 38,491 67,994
Year four 44,020 46,851
Year five 23,862 52,733
Prior 30,815  
Revolving Loans Amortized Cost Basis 3,243 2,430
Revolving Loans Converted to Term 0 0
Total 214,216 295,849
Real estate - commercial | Special mention    
Risk Rating    
Year one 0 153
Year two 80 919
Year three 499 2,890
Year four 615 538
Year five 111 489
Prior 374  
Revolving Loans Amortized Cost Basis 15 15
Revolving Loans Converted to Term 0 0
Total 1,694 5,004
Real estate - commercial | Substandard    
Risk Rating    
Year one 0 0
Year two 2,735 2,971
Year three 3,081 857
Year four 3,340 99
Year five 4,429 941
Prior 1,544  
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 15,129 4,868
Real estate - commercial | Doubtful    
Risk Rating    
Year one 0 0
Year two 0 0
Year three 0 0
Year four 0 0
Year five 0 0
Prior 0  
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 0 0
Real estate - construction and land    
Risk Rating    
Year one 3,229 1,947
Year two 5,926 18,261
Year three 25,076 9,891
Year four 8,407 2,815
Year five 1,062 0
Prior 0  
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 43,700 32,914
Gross write offs    
Year one 0 0
Year two 0 0
Year three 0 0
Year four 0 0
Year five 0  
Prior 0  
Prior   0
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 0 0
Real estate - construction and land | Pass    
Risk Rating    
Year one 3,229 1,947
Year two 5,926 18,261
Year three 15,118 9,891
Year four 8,407 2,815
Year five 1,062 0
Prior 0  
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 33,742 32,914
Real estate - construction and land | Special mention    
Risk Rating    
Year one 0 0
Year two 0 0
Year three 0 0
Year four 0 0
Year five 0 0
Prior 0  
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 0 0
Real estate - construction and land | Substandard    
Risk Rating    
Year one 0 0
Year two 0 0
Year three 9,958 0
Year four 0 0
Year five 0 0
Prior 0  
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 9,958 0
Real estate - construction and land | Doubtful    
Risk Rating    
Year one 0 0
Year two 0 0
Year three 0 0
Year four 0 0
Year five 0 0
Prior 0  
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 0 0
Commercial and industrial    
Risk Rating    
Year one 39,277 84,622
Year two 48,525 43,849
Year three 37,804 36,710
Year four 27,555 11,404
Year five 4,137 41,043
Prior 26,370  
Revolving Loans Amortized Cost Basis 10,986 8,894
Revolving Loans Converted to Term 0 0
Total 194,654 226,522
Gross write offs    
Year one 135 0
Year two 2,234 3,286
Year three 3,615 3,210
Year four 2,347 361
Year five 319  
Prior 2,529  
Prior   4,099
Revolving Loans Amortized Cost Basis 33 0
Revolving Loans Converted to Term 0 0
Total 11,212 10,956
Commercial and industrial | Pass    
Risk Rating    
Year one 39,139 84,402
Year two 46,648 40,301
Year three 33,371 32,982
Year four 24,340 10,715
Year five 3,583 36,641
Prior 22,561  
Revolving Loans Amortized Cost Basis 10,734 8,778
Revolving Loans Converted to Term 0 0
Total 180,376 213,819
Commercial and industrial | Special mention    
Risk Rating    
Year one 22 189
Year two 562 1,991
Year three 1,163 3,003
Year four 1,376 682
Year five 172 3,696
Prior 683  
Revolving Loans Amortized Cost Basis 252 0
Revolving Loans Converted to Term 0 0
Total 4,230 9,561
Commercial and industrial | Substandard    
Risk Rating    
Year one 44 31
Year two 1,315 1,464
Year three 3,248 725
Year four 1,782 0
Year five 374 626
Prior 3,041  
Revolving Loans Amortized Cost Basis 0 116
Revolving Loans Converted to Term 0 0
Total 9,804 2,962
Commercial and industrial | Doubtful    
Risk Rating    
Year one 72 0
Year two 0 93
Year three 22 0
Year four 57 7
Year five 8 80
Prior 85  
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 244 180
Commercial and industrial - PPP    
Risk Rating    
Year one 0 0
Year two 0 0
Year three 0 0
Year four 0 135
Year five 0 806
Prior 13  
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 13 941
Gross write offs    
Year one 0 0
Year two 0 0
Year three 0 0
Year four 0 0
Year five 0  
Prior 1  
Prior   0
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 1 0
Commercial and industrial - PPP | Pass    
Risk Rating    
Year one 0 0
Year two 0 0
Year three 0 0
Year four 0 135
Year five 0 302
Prior 13  
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 13 437
Commercial and industrial - PPP | Special mention    
Risk Rating    
Year one 0 0
Year two 0 0
Year three 0 0
Year four 0 0
Year five 0 504
Prior 0  
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 0 504
Commercial and industrial - PPP | Substandard    
Risk Rating    
Year one 0 0
Year two 0 0
Year three 0 0
Year four 0 0
Year five 0 0
Prior 0  
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 0 0
Commercial and industrial - PPP | Doubtful    
Risk Rating    
Year one 0 0
Year two 0 0
Year three 0 0
Year four 0 0
Year five 0 0
Prior 0  
Revolving Loans Amortized Cost Basis 0 0
Revolving Loans Converted to Term 0 0
Total 0 0
Real Estate - Residential    
Risk Rating    
Year one 8,856 29,086
Year two 33,761 26,473
Year three 25,399 69,163
Year four 69,320 32,528
Year five 22,298 26,395
Prior 18,482  
Revolving Loans Amortized Cost Basis 185,904 147,225
Revolving Loans Converted to Term 0 0
Total 364,020 330,870
Gross write offs    
Year one 0 0
Year two 0 0
Year three 0 0
Year four 121 0
Year five 0  
Prior 0  
Prior   20
Revolving Loans Amortized Cost Basis 842 0
Revolving Loans Converted to Term 0 0
Total 963 20
Real Estate - Residential | Pass    
Risk Rating    
Year one 8,856 29,086
Year two 33,761 26,473
Year three 25,087 65,598
Year four 68,521 32,235
Year five 21,808 26,395
Prior 16,080  
Revolving Loans Amortized Cost Basis 185,046 145,265
Revolving Loans Converted to Term 0 0
Total 359,159 325,052
Real Estate - Residential | Doubtful    
Risk Rating    
Year one 0 0
Year two 0 0
Year three 312 3,565
Year four 799 293
Year five 490 0
Prior 2,402  
Revolving Loans Amortized Cost Basis 858 1,960
Revolving Loans Converted to Term 0 0
Total 4,861 5,818
Consumer and Other    
Risk Rating    
Year one 11,893 59,675
Year two 52,397 21,860
Year three 19,091 10,026
Year four 5,349 603
Year five 207 53
Prior 50  
Revolving Loans Amortized Cost Basis 1,959 1,609
Revolving Loans Converted to Term 0 0
Total 90,946 93,826
Gross write offs    
Year one 43 0
Year two 641 236
Year three 209 2,351
Year four 815 35
Year five 22  
Prior 9  
Prior   316
Revolving Loans Amortized Cost Basis 24 0
Revolving Loans Converted to Term 0 0
Total 1,763 2,938
Consumer and Other | Pass    
Risk Rating    
Year one 11,893 59,591
Year two 52,314 21,860
Year three 19,091 9,840
Year four 5,294 603
Year five 207 53
Prior 50  
Revolving Loans Amortized Cost Basis 1,959 1,584
Revolving Loans Converted to Term 0 0
Total 90,808 93,531
Consumer and Other | Doubtful    
Risk Rating    
Year one 0 84
Year two 83 0
Year three 0 186
Year four 55 0
Year five 0 0
Prior 0  
Revolving Loans Amortized Cost Basis 0 25
Revolving Loans Converted to Term 0 0
Total $ 138 $ 295
v3.25.3
FAIR VALUE - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Financial assets    
Government guaranteed loans HFI, at fair value $ 61,780 $ 60,833
Fair Value, Recurring    
Financial assets    
Investment securities available for sale 29,857 36,291
Government guaranteed loans HFI, at fair value 61,780 60,833
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring    
Financial assets    
Investment securities available for sale 0 0
Government guaranteed loans HFI, at fair value 0 0
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring    
Financial assets    
Investment securities available for sale 29,857 36,291
Government guaranteed loans HFI, at fair value 0 0
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring    
Financial assets    
Investment securities available for sale 0 0
Government guaranteed loans HFI, at fair value $ 61,780 $ 60,833
v3.25.3
FAIR VALUE - Fair Value Carrying Amount and the Unpaid Principal Outstanding of HFI Government Guaranteed Loans (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Fair Value, Option, Quantitative Disclosures [Line Items]    
Total Loans, Fair Value Carrying Amount $ 61,780 $ 60,833
Total Loans, Unpaid Principal Balance 66,295 62,056
Total Loans, Fair Value Gain (Loss) (4,515) (1,223)
Nonaccrual, Fair Value Carrying Amount 1,385 1,491
Nonaccrual, Unpaid Principal Balance 6,615 2,630
Nonaccrual, Fair Value Gain (Loss) (5,230) (1,139)
90 Days or More Past Due, Fair Value Carrying Amount 0 0
90 Days or More Past Due, Unpaid Principal Balance 0 0
90 Days or More Past Due, Fair Value Gain (Loss) 0 0
Real estate - commercial    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Total Loans, Fair Value Carrying Amount 12,808 15,136
Total Loans, Unpaid Principal Balance 12,630 15,075
Total Loans, Fair Value Gain (Loss) 178 61
Nonaccrual, Fair Value Carrying Amount 244 0
Nonaccrual, Unpaid Principal Balance 243 0
Nonaccrual, Fair Value Gain (Loss) 1 0
90 Days or More Past Due, Fair Value Carrying Amount 0 0
90 Days or More Past Due, Unpaid Principal Balance 0 0
90 Days or More Past Due, Fair Value Gain (Loss) 0 0
Commercial and industrial    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Total Loans, Fair Value Carrying Amount 48,972 45,697
Total Loans, Unpaid Principal Balance 53,665 46,981
Total Loans, Fair Value Gain (Loss) (4,693) (1,284)
Nonaccrual, Fair Value Carrying Amount 1,141 1,491
Nonaccrual, Unpaid Principal Balance 6,372 2,630
Nonaccrual, Fair Value Gain (Loss) (5,231) (1,139)
90 Days or More Past Due, Fair Value Carrying Amount 0 0
90 Days or More Past Due, Unpaid Principal Balance 0 0
90 Days or More Past Due, Fair Value Gain (Loss) $ 0 $ 0
v3.25.3
FAIR VALUE - Gains and Losses from Changes in Fair Value and Interest Income Included in Earnings (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Fair Value, Option, Quantitative Disclosures [Line Items]        
Change in fair value $ (882) $ 3,416 $ 805 $ 9,923
Government guaranteed loan servicing rights        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Interest income     6,074 5,978
Change in fair value     805 9,923
Total gain, net     $ 6,879 $ 15,901
v3.25.3
FAIR VALUE - Government Guaranteed Loans HFI, at Fair Value, Which Were Valued on a Recurring Basis and Used Significant Unobservable Inputs (Details) - Loans Receivable - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance of government guaranteed loans HFI at fair value, beginning of period $ 60,833 $ 91,508
New government guaranteed originations at fair value 51,287 105,754
Loans sold (32,884) (116,977)
Principal payments (6,285) (3,767)
Transfer to HFS (11,976) 0
Total fair value gains (losses) during the period 805 9,923
Balance of government guaranteed loans HFI at fair value, end of period $ 61,780 $ 86,441
v3.25.3
FAIR VALUE - Valuation Technique and Unobservable Inputs Used in the Valuation of Government Guaranteed HFI, at Fair Value (Details)
$ in Thousands
Sep. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Government guaranteed loans HFI, at fair value $ 61,780 $ 60,833
Fair Value, Recurring    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Government guaranteed loans HFI, at fair value 61,780 60,833
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Government guaranteed loans HFI, at fair value 61,780 60,833
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Government guaranteed loans HFI, at fair value    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Government guaranteed loans HFI, at fair value $ 61,780 $ 60,833
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Minimum | Discount rate | Government guaranteed loans HFI, at fair value    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Loans receivable, measurement input (as a percent) 0.0561 0.0607
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Minimum | Conditional prepayment rate | Government guaranteed loans HFI, at fair value    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Loans receivable, measurement input (as a percent) 0.0577 0.0000
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Maximum | Discount rate | Government guaranteed loans HFI, at fair value    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Loans receivable, measurement input (as a percent) 0.0911 0.0957
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Maximum | Conditional prepayment rate | Government guaranteed loans HFI, at fair value    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Loans receivable, measurement input (as a percent) 0.1843 0.1813
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Weighted Average | Discount rate | Government guaranteed loans HFI, at fair value    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Loans receivable, measurement input (as a percent) 0.0876 0.0869
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Weighted Average | Conditional prepayment rate | Government guaranteed loans HFI, at fair value    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Loans receivable, measurement input (as a percent) 0.0933 0.1161
v3.25.3
FAIR VALUE - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Fair Value, Nonrecurring [Line Items]    
Individually evaluated loans, fair value $ 3,788 $ 2,709
Other real estate owned, fair value 400 132
Repossessed assets, fair value $ 32 $ 36
Discount rate    
Fair Value, Nonrecurring [Line Items]    
Individually evaluated loans, fair value (as a percent) 10.00% 10.00%
Other real estate owned, fair value (as a percent) 0.10 0.10
Repossessed assets, fair value (as a percent) 0.10 0.10
v3.25.3
FAIR VALUE - Assets and Liabilities Not Carried at Fair Value (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Assets:    
Investment securities held to maturity $ 2,375 $ 2,346
Loans HFI, at amortized cost 61,780 60,833
Fair Value, Inputs, Level 1 | Carrying Value | Cash and cash equivalents    
Assets:    
Cash and cash equivalents 118,550 77,788
Fair Value, Inputs, Level 1 | Fair Value | Cash and cash equivalents    
Assets:    
Cash and cash equivalents 118,550 77,788
Fair Value, Inputs, Level 2 | Carrying Value    
Assets:    
Investment securities held to maturity 2,491 2,488
Nonmarketable equity securities, at cost 7,028 4,526
Accrued interest receivable 8,898 9,155
Liabilities:    
FHLB borrowings 50,000 0
Subordinated notes 5,961 5,956
Notes payable 1,593 1,934
Accrued interest payable 1,082 1,036
Fair Value, Inputs, Level 2 | Carrying Value | Time deposits in banks    
Assets:    
Cash and cash equivalents 1,284 2,270
Liabilities:    
Deposits, liabilities 375,922 310,268
Fair Value, Inputs, Level 2 | Carrying Value | Noninterest-bearing deposit accounts    
Liabilities:    
Deposits, liabilities 105,937 101,743
Fair Value, Inputs, Level 2 | Carrying Value | Interest-bearing transaction accounts    
Liabilities:    
Deposits, liabilities 210,336 256,793
Fair Value, Inputs, Level 2 | Carrying Value | Savings and money market deposit accounts    
Liabilities:    
Deposits, liabilities 479,262 474,425
Fair Value, Inputs, Level 2 | Fair Value    
Assets:    
Investment securities held to maturity 2,375 2,346
Nonmarketable equity securities, at cost 7,028 4,526
Accrued interest receivable 8,898 9,155
Liabilities:    
FHLB borrowings 50,000 0
Subordinated notes 5,563 5,511
Notes payable 1,580 1,919
Accrued interest payable 1,082 1,036
Fair Value, Inputs, Level 2 | Fair Value | Time deposits in banks    
Assets:    
Cash and cash equivalents 1,280 2,212
Liabilities:    
Deposits, liabilities 376,548 307,925
Fair Value, Inputs, Level 2 | Fair Value | Noninterest-bearing deposit accounts    
Liabilities:    
Deposits, liabilities 105,937 101,743
Fair Value, Inputs, Level 2 | Fair Value | Interest-bearing transaction accounts    
Liabilities:    
Deposits, liabilities 210,336 256,793
Fair Value, Inputs, Level 2 | Fair Value | Savings and money market deposit accounts    
Liabilities:    
Deposits, liabilities 479,262 474,425
Fair Value, Inputs, Level 3 | Carrying Value    
Assets:    
Loans HFI, at amortized cost 912,418 990,214
Fair Value, Inputs, Level 3 | Carrying Value | Government guaranteed loan servicing rights    
Assets:    
Government guaranteed loan servicing rights 15,663 16,534
Fair Value, Inputs, Level 3 | Fair Value    
Assets:    
Loans HFI, at amortized cost 927,651 986,406
Fair Value, Inputs, Level 3 | Fair Value | Government guaranteed loan servicing rights    
Assets:    
Government guaranteed loan servicing rights $ 19,503 $ 19,473
v3.25.3
GOVERNMENT GUARANTEED LOAN SERVICING ACTIVITIES - Narrative (Details) - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Servicing Asset at Amortized Cost [Line Items]    
Principal balance of government guaranteed loans, excluding PPP loans $ 313,980,000 $ 425,963,000
Principal balance of government guaranteed loans, excluding PPP loans, guaranteed portion 75,280,000 148,543,000
Principal balance of government guaranteed loans, HFS 94,052,000 0
Principal balance of government guaranteed loans, excluding PPP loans, HFS 50,120,000  
Unpaid principal balances of government guaranteed loans serviced for others $ 1,038,738,000 $ 1,056,665,000
Servicing assets, weighted average discount rate (as a percent) 14.00% 14.63%
Servicing assets, weighted average prepayment speed (as a percent) 11.02% 11.97%
Government guaranteed loan servicing rights | Significant Unobservable Inputs (Level 3) | Fair Value    
Servicing Asset at Amortized Cost [Line Items]    
Servicing asset rights at fair value $ 19,503,000 $ 19,473,000
v3.25.3
GOVERNMENT GUARANTEED LOAN SERVICING ACTIVITIES - Activity for Government Guaranteed Loan Servicing Rights (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Servicing Asset at Amortized Cost, Balance [Roll Forward]        
Beginning of period     $ 16,534  
End of period $ 15,663   15,663  
Government guaranteed loan servicing rights        
Servicing Asset at Amortized Cost, Balance [Roll Forward]        
Beginning of period 16,074 $ 15,770 16,534 $ 14,959
Additions 1,274 1,704 4,489 5,396
Amortization (1,685) (1,508) (5,360) (4,389)
End of period $ 15,663 $ 15,966 $ 15,663 $ 15,966
v3.25.3
GOVERNMENT GUARANTEED LOAN SERVICING ACTIVITIES - Net Gain on Sale of Government Guaranteed Loans (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Servicing Asset at Amortized Cost [Line Items]        
Gain on sale of government guaranteed loans, net $ 3,063 $ 6,143 $ 16,526 $ 19,827
Government guaranteed loan servicing rights        
Servicing Asset at Amortized Cost [Line Items]        
Gain on sale of guaranteed portion of government guaranteed loans 1,789 4,439 12,037 14,431
Fair value of loan servicing rights created 1,274 1,704 4,489 5,396
Gain on sale of government guaranteed loans, net $ 3,063 $ 6,143 $ 16,526 $ 19,827
v3.25.3
LEASES - Narrative (Details)
$ in Thousands
Dec. 23, 2024
USD ($)
property
Sep. 30, 2025
Leases [Abstract]    
Number of properties sold | property 2  
Sale leaseback transaction, book value | $ $ 15,000  
Lease term 15 years  
Weighted average discount rate (as a percent)   7.01%
Weighted average remaining life   12 years 10 months 20 days
v3.25.3
LEASES - Total Lease Cost and Supplemental Information (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Operating lease cost $ 561,000 $ 202,000 $ 1,712,000 $ 699,000
Short-term lease cost 35,000 30,000 142,000 102,000
Total lease cost, net 596,000 232,000 1,854,000 801,000
Cash flows related to operating lease liabilities 242,000 151,000 738,000 600,000
Right-of-use assets obtained in exchange for new operating lease liabilities 0 0 0 296,000
Discontinued Operations, Held-for-sale | Nationwide Residential Mortgage Loan Production Operations        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Total lease cost, net $ 0 $ 0 $ 0 $ 131,000
v3.25.3
LEASES - Future Minimum Lease Payments (Details)
$ in Thousands
Sep. 30, 2025
USD ($)
Leases [Abstract]  
2025 $ 412
2026 2,119
2027 1,751
2028 1,313
2029 1,339
Thereafter 14,961
Total undiscounted lease payments 21,895
Less: imputed interest $ (8,341)
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Operating lease liabilities, Liabilities
Net lease liabilities $ 13,554
v3.25.3
OTHER BORROWINGS (Details) - USD ($)
 9 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Blanket lien $ 375,157,000  
Additional FHLB borrowings 145,586,000  
Subordinated notes 5,961,000 $ 5,956,000
Notes payable 1,593,000 1,934,000
Federal Reserve Bank Advances    
Debt Instrument [Line Items]    
Short term borrowings 0 $ 0
Federal Home Loan Bank Advances    
Debt Instrument [Line Items]    
Short term borrowings $ 50,000,000  
Debt instrument, fixed interest rate (as a percent) 4.33%  
Federal Reserve Bank Advances | Secured Debt    
Debt Instrument [Line Items]    
Line of credit, capacity $ 55,686,000  
Federal Reserve Bank Advances | Secured Debt | SBA Loan    
Debt Instrument [Line Items]    
Line of credit, capacity $ 79,165,000  
Subordinated Debt | June 2031 Subordinated Notes    
Debt Instrument [Line Items]    
Debt instrument, fixed interest rate (as a percent) 4.50%  
Debt instrument, face amount $ 6,000,000  
Debt instrument, redemption period 5 years  
Debt instrument, initial term 5 years  
Subordinated Debt | June 2031 Subordinated Notes | Secured Overnight Financing Rate (SOFR)    
Debt Instrument [Line Items]    
Debt Instrument, final term 5 years  
Debt instrument, floating rate (as a percent) 3.78%  
Notes Payable, Other Payables | Amortizing Note Payable    
Debt Instrument [Line Items]    
Debt instrument, collateral, percentage of bank's stock (as a percent) 100.00%  
Notes Payable, Other Payables | Amortizing Note Payable | Prime Rate    
Debt Instrument [Line Items]    
Debt instrument, floating rate (as a percent) 7.25%  
v3.25.3
STOCK-BASED COMPENSATION - Narrative (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Granted (in shares) 0 0
Unrecognized compensation cost related to nonvested stock options granted $ 5  
Restricted Stock    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Unrecognized compensation expense $ 548  
Expected period for recognition 1 year 6 months  
Fair value of shares vested $ 370 $ 359
Common stock options    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Expected period for recognition 3 months 14 days  
Maximum percentage of stock granted (as a percent) 15.00%  
Maximum number of shares issued and outstanding (in shares) 1,500,000  
Contractual term 10 years  
Common stock options | Share-based Payment Arrangement, Employee    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Award vesting period 5 years  
Common stock options | Share-based Payment Arrangement, Nonemployee    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Award vesting period 3 years  
Equity Plan    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Compensation cost charged against income $ 239 $ 281
v3.25.3
STOCK-BASED COMPENSATION - Nonvested Restricted Shares (Details) - Restricted Stock - $ / shares
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Shares    
Nonvested beginning balance (in shares) 47,485 52,195
Granted (in shares) 25,800 30,650
Vested (in shares) (24,225) (29,835)
Forfeited (in shares) (1,680) (1,125)
Nonvested ending balance (in shares) 47,380 51,885
Weighted-Average Grant-Date Fair Value, per share    
Nonvested beginning balance (in dollars per share) $ 14.54 $ 18.75
Granted (in dollars per share) 15.78 11.70
Vested (in dollars per share) (13.23) (18.24)
Forfeited (in dollars per share) (15.41) (16.05)
Nonvested ending balance (in dollars per share) $ 15.85 $ 14.93
v3.25.3
STOCK-BASED COMPENSATION - Activity in the Equity Plan (Details) - USD ($)
$ / shares in Units, $ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Shares    
Outstanding beginning balance (in shares) 364,063 367,033
Exercised (in shares) (1,050)  
Forfeited (in shares) (195) (2,970)
Outstanding ending balance (in shares) 362,818 364,063
Vested at ending balance (in shares) 357,748 349,385
Exercisable at ending balance (in shares) 357,748 349,385
Weighted Average Exercise Price    
Outstanding beginning balance (in dollars per share) $ 15.68 $ 15.68
Exercised (in dollars per share) (14.67)  
Forfeited (in dollars per share) (14.67) (15.56)
Outstanding ending balance (in dollars per share) 15.68 15.57
Vested at ending balance (in dollars per share) 15.69 15.71
Exercisable at ending balance (in dollars per share) $ 15.69 $ 15.71
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value    
Weighted Average Remaining Contractual Term, Outstanding 3 years 10 months 20 days 4 years 11 months 1 day
Weighted Average Remaining Contractual Term, Vested 3 years 10 months 13 days 4 years 10 months 17 days
Weighted Average Remaining Contractual Term, Exercisable 3 years 10 months 13 days 4 years 10 months 17 days
Aggregate Intrinsic Value, Outstanding $ 0 $ 0
Aggregate Intrinsic Value, Vested 0 0
Aggregate Intrinsic Value, Exercisable $ 0 $ 0
v3.25.3
OTHER BENEFIT PLANS (Details) - USD ($)
$ / shares in Units, $ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock purchased in DRIP (in shares) 0 0  
Non-qualified stock purchase plan, shares, purchased during period (in shares) 3,391    
Non-qualified stock purchase plan, shares, issued during period 0    
Non-qualified stock purchase plan, average price per share (in dollars per share) $ 9.03    
Salary continuation agreement, annual benefit $ 25    
Salary continuation agreement, annual benefit, duration 20 years    
Salary continuation agreement, liability $ 312   $ 327
Post employment benefits, period expense $ 10 $ 3  
Employer contribution over employees' gross pay 3.00%    
Expense recognized in relation of plan, amount $ 715 749  
ESOP, number of remaining shares (in shares) 19,691    
Unallocated account, fair value returned to the company $ 175    
ESOP, vesting percentage in contribution of employees laid off (as a percent) 100.00%    
ESOP, remaining indebtedness of the outstanding loans $ 365    
Stock based compensation expense 190 149  
Employee Stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expense recognized in relation to the non-qualified stock purchase plan $ 13 $ 18  
v3.25.3
REGULATORY MATTERS (Details)
$ in Thousands
Sep. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Total Capital    
Total Capital, Actual $ 102,017 $ 124,420
Total Capital, Actual, Ratio 0.0971 0.1214
Total Capital, Required for Capital Adequacy Purposes $ 84,088 $ 81,985
Total Capital, Required for Capital Adequacy Purposes, Ratio 0.0800 0.0800
Total Capital, To be Well Capitalized Under Prompt Corrective Action Regulations $ 105,111 $ 102,482
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 $ 88,737 $ 111,586
Tier One Risk-Based Capital, Actual, Ratio 0.0844 0.1089
Tier One Risk-Based Capital, Required for Capital Adequacy Purposes $ 63,066 $ 61,489
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 $ 84,088 $ 81,985
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 $ 88,737 $ 111,586
Common Equity Tier One Risk-Based Capital, Actual, Ratio 0.0844 0.1089
Common Equity Tier One Risk-Based Capital, Required for Capital Adequacy Purposes $ 47,300 $ 46,117
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 $ 68,322 $ 66,613
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 $ 88,737 $ 111,586
Tier One Leverage Capital, Actual, Ratio 0.0664 0.0882
Tier One Leverage Capital, Required for Capital Adequacy Purposes $ 53,458 $ 50,579
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 $ 66,823 $ 63,224
Tier One Leverage Capital, To be Well Capitalized Under Prompt Corrective Action Regulations, Ratio 0.0500 0.0500
v3.25.3
LOAN COMMITMENTS AND OTHER RELATED ACTIVITIES - Financial Instruments With Off-Balance Sheet Risk (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Unfunded loan commitments    
Other Commitments [Line Items]    
Financial commitments, contractual amount $ 34,878 $ 21,174
Unused lines of credit    
Other Commitments [Line Items]    
Financial commitments, contractual amount 221,625 199,411
Standby letters of credit    
Other Commitments [Line Items]    
Financial commitments, contractual amount $ 1,259 $ 276
v3.25.3
LOAN COMMITMENTS AND OTHER RELATED ACTIVITIES - Narrative (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Jun. 30, 2025
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Other Commitments [Line Items]            
Total ACL for off-balance sheet loan commitments $ 731 $ 516 $ 554 $ 664 $ 641 $ 839
Unfunded loan commitments            
Other Commitments [Line Items]            
Total ACL for off-balance sheet loan commitments $ 731 $ 516        
Unfunded loan commitments            
Other Commitments [Line Items]            
Unfunded loan commitment period 90 days 90 days        
v3.25.3
EARNINGS PER COMMON SHARE - Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Basic:        
Income (loss) from continuing operations $ (18,902) $ 1,137 $ (20,474) $ 2,896
Loss from discontinued operations 0 0 0 (69)
Net income (loss) (18,902) 1,137 (20,474) 2,827
Less: Preferred stock dividends 385 385 1,156 1,156
Net income available to (loss attributable to) common shareholders $ (19,287) $ 752 $ (21,630) $ 1,671
Weighted average common shares outstanding (in shares) 4,135,106 4,134,169 4,135,949 4,133,082
Basic earnings (loss) per common share, Continuing operations (in dollars per share) $ (4.66) $ 0.18 $ (5.23) $ 0.42
Basic earnings (loss) per common share, Discontinued operations (in dollars per share) 0 0 0 (0.02)
Total basic earnings (loss) per common share (in dollars per share) $ (4.66) $ 0.18 $ (5.23) $ 0.40
Diluted:        
Income (loss) from continuing operations $ (18,902) $ 1,137 $ (20,474) $ 2,896
Loss from discontinued operations 0 0 0 (69)
Net income (loss) (18,902) 1,137 (20,474) 2,827
Less: Preferred stock dividends 385 385 1,156 1,156
Add: Series B preferred stock and preferred C stock dividends 0 0 0 0
Net income available to (loss attributable to) common shareholders $ (19,287) $ 752 $ (21,630) $ 1,671
Weighted average common shares outstanding for basic earnings per common share (in shares) 4,135,106 4,134,169 4,135,949 4,133,082
Add: Dilutive effects of conversion of Series B preferred stock and Preferred C to common stock (in shares) 0 0 0 0
Add: Dilutive effects of assumed exercises of stock options and warrants (in shares) 0 0 0 0
Average shares and dilutive potential common shares (in shares) 4,135,106 4,134,169 4,135,949 4,133,082
Diluted earnings (loss) per common share:        
Continuing operations (in dollars per share) $ (4.66) $ 0.18 $ (5.23) $ 0.42
Discontinued operations (in dollars per share) 0 0 0 (0.02)
Total diluted earnings (loss) per common share (in dollars per share) $ (4.66) $ 0.18 $ (5.23) $ 0.40
v3.25.3
EARNINGS PER COMMON SHARE - Antidilutive Securities Excluded from Calculation of Weighted Average Shares Outstanding (Details) - shares
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Common stock options        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive shares excluded from calculation of weighted average shares outstanding (in shares) 363,917 364,576 363,192 365,680
Convertible Series B preferred stock        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive shares excluded from calculation of weighted average shares outstanding (in shares) 3,210 3,210 3,210 3,210
Convertible Series C preferred stock        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive shares excluded from calculation of weighted average shares outstanding (in shares) 6,446 6,446 6,446 6,446
v3.25.3
SEGMENT INFORMATION (Details)
 9 Months Ended
Sep. 30, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 1
v3.25.3
Restructuring and Related Activities (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Restructuring Cost and Reserve [Line Items]        
Restructure charges $ 7,262 $ 0 $ 7,262 $ 0
Employee Severance        
Restructuring Cost and Reserve [Line Items]        
Restructure charges 3,758      
Impaired Assets        
Restructuring Cost and Reserve [Line Items]        
Restructure charges 2,865      
Broker Costs        
Restructuring Cost and Reserve [Line Items]        
Restructure charges 375      
Other Restructuring        
Restructuring Cost and Reserve [Line Items]        
Restructure charges $ 264