Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Summary of Unrealized Portion Related to Equity Securities

The following table presents the unrealized portion related to the equity securities held.

	Three Months Ended March 31,
(Dollars in thousands)	2024			2023
Net gains (losses) recognized during the period on equity securities	$	(19	)	$	28
Less: Net gains (losses) recognized during the period on equity    securities sold during the period		—			—
Unrealized gains (losses) recognized during the reporting period on    equity securities still held at the reporting date	$	(19	)	$	28

Summary of Finalized Adoption Related to Allowance for Credit Losses on Loans

The CECL methodology transition effects on the allowance for credit losses are shown in the following table:

(Dollars in thousands)	December 31, 2022 Pre-Topic 326 Adoption		Effect of ASC 326 Adoption (Transition Amounts)		January 1, 2023 Post-ASC 326 Adoption
Assets:
Loans:
Recreation	$	41,966	$	10,037	$	52,003
Home improvement		11,340		1,518		12,858
Commercial		1,049		2,157		3,206
Taxi medallion		9,490		—		9,490
Strategic partnership		—		—		—
Allowance for credit losses on loans	$	63,845	$	13,712	$	77,557

Schedule of Intangible Assets

The following table details the intangible assets as of the dates presented:

(Dollars in thousands)	March 31, 2024		December 31, 2023
Brand-related intellectual property	$	15,400	$	15,675
Home improvement contractor relationships		4,830		4,916
Total intangible assets	$	20,230	$	20,591

Summary of the Calculation of Basic and Diluted EPS

The table below shows the calculation of basic and diluted EPS.

	Three Months Ended March 31,
(Dollars in thousands, except share and per share data)	2024		2023
Net income attributable to common stockholders	$	10,024	$	15,361
Weighted average common shares outstanding applicable to basic EPS		22,641,385		22,342,911
Effect of restricted stock grants		610,333		483,429
Effect of dilutive stock options		254,793		149,117
Effect of performance stock unit grants		258,534		—
Adjusted weighted average common shares outstanding applicable to diluted EPS		23,765,045		22,975,457
Basic net income per share	$	0.44	$	0.69
Diluted net income per share		0.42		0.67

Summary of Bank's Actual Capital Amounts and Ratios, and the Regulatory Minimum Ratios

The Bank’s actual capital amounts and ratios, and the regulatory minimum ratios are presented in the following table.

	Regulatory
(Dollars in thousands)	Minimum			Well-Capitalized			March 31, 2024			December 31, 2023
Common equity tier 1 capital							$	298,662		$	293,774
Tier 1 capital								367,450			362,561
Total capital								395,297			390,153
Average assets								2,236,357			2,232,816
Risk-weighted assets								2,176,939			2,155,641
Leverage ratio (1)		4.0	%		5.0	%		16.4	%		16.2	%
Common equity tier 1 capital ratio (2)		7.0			6.5			13.7			13.6
Tier 1 capital ratio (3)		8.5			8.0			16.9			16.8
Total capital ratio (3)		10.5			10.0			18.2			18.1

(1)Calculated by dividing Tier 1 capital by average assets.

(2)Calculated by subtracting preferred stock or non-controlling interest from Tier 1 capital and dividing by risk-weighted assets.

(3)Calculated by dividing Tier 1 or total capital by risk-weighted assets.