Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

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, 2022				December 31, 2021
(Dollars in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets
Cash, cash equivalents, and federal funds sold (1)	$	98,202	$	98,202	$	124,484	$	124,484
Equity investments		10,670		10,670		9,726		9,726
Investment securities		48,354		48,354		44,772		44,772
Loans receivable		1,793,975		1,793,975		1,438,758		1,438,758
Accrued interest receivable (2)		11,959		11,959		10,621		10,621
Equity securities(3)		1,721		1,721		1,950		1,950
Financial liabilities
Funds borrowed		1,782,465		1,782,465		1,478,001		1,478,001
Accrued interest payable (2)		3,432		3,432		3,395		3,395

(1)Categorized as level 1 within the fair value hierarchy, excluding $1.3 million in interest bearing deposits categorized as level 2 as of September 30, 2022 and December 31, 2021. 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.