Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2023

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, 2023				December 31, 2022
(Dollars in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets
Cash, cash equivalents, and federal funds sold (1)	$	127,642	$	127,642	$	105,598	$	105,598
Equity investments		10,542		10,542		10,293		10,293
Investment securities		53,175		53,175		48,492		48,492
Loans receivable		2,123,905		2,123,905		1,853,108		1,853,108
Accrued interest receivable (2)		13,593		13,593		12,613		12,613
Equity securities (3)		1,671		1,671		1,724		1,724
Financial liabilities
Funds borrowed		2,099,918		2,099,918		1,833,484		1,833,484
Accrued interest payable (2)		4,624		4,624		4,790		4,790

(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, 2023 and $1.3 million as of December 31, 2022. 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.