Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Investments All Other Investments [Abstract]

Summary of Carrying Values and Fair Values of Financial Instruments

The fair value of the debentures payable to the SBA is estimated based on current market interest rates for similar debt.

	September 30, 2021				December 31, 2020
(Dollars in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets
Cash, cash equivalents and federal funds sold(1)	$	85,374	$	85,374	$	112,040	$	112,040
Equity investments		10,214		10,214		9,746		9,746
Investment securities		47,511		47,511		46,792		46,792
Loans receivable		1,372,233		1,372,233		1,172,290		1,172,290
Accrued interest receivable(2)		9,646		9,646		10,338		10,338
Equity securities(3)		1,969		1,969		—		—
Financial liabilities
Funds borrowed(4)		1,425,518		1,425,518		1,312,255		1,312,591
Accrued interest payable(2)		3,047		3,047		4,673		4,673

(1)Categorized as level 1 within the fair value hierarchy, excluding $1,250 and $1,500 in interest bearing deposits categorized as level 2 as of September 30, 2021 and December 31, 2020. See Note 13.

(2)Categorized as level 3 within the fair value hierarchy. See Note 13.

(3)Included within other assets on the balance sheet.

(4)There were no publicly traded retail notes as of September 30, 2021. As of December 31, 2020, publicly traded retail notes traded at a premium to par of $336.