v3.25.1
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 6,941 $ 15,398
Restricted cash 28,226 30,919
Interest bearing deposits in banks 346,207 137,689
Total cash and cash equivalents 381,374 184,006
Debt securities available-for-sale, at fair value 23,916 32,171
Loans held for sale, at fair value 372,286 118,867
Loans held for sale, at LCM 58,803 56,607
Loans held for investment, at fair value 369,746 469,801
Loans held for investment, at amortized cost, net of deferred fees and costs 621,651 336,305
Allowance for credit losses (30,233) (12,574)
Loans held for investment, at amortized cost, net 591,418 323,731
Federal Home Loan Bank and Federal Reserve Bank stock 3,585 3,635
Settlement receivable 52,465 62,230
Goodwill and intangibles 14,752 30,120
Right of use assets 5,688 5,701
Deferred tax asset, net 0 5,230
Servicing assets, at fair value 22,062 29,336
Servicing assets, at LCM 24,195 10,389
Other assets 60,636 56,102
Assets held for sale 21,308 0
Total assets 2,059,912 1,429,513
Deposits:    
Noninterest-bearing 11,142 10,053
Interest-bearing 961,910 453,452
Total deposits 973,052 463,505
Borrowings 708,041 644,122
Dividends payable 5,233 4,792
Lease liabilities 6,498 6,952
Deferred tax liabilities, net 2,244 0
Due to participants 21,532 23,796
Accounts payable, accrued expenses and other liabilities 40,806 37,300
Liabilities directly associated with assets held for sale 6,224 0
Total liabilities 1,763,630 1,180,467
Commitment and contingencies (Note 15)
Shareholders' Equity:    
Preferred stock (par value $0.02 per share; authorized 20 shares, 20 shares issued and outstanding) 19,738 19,738
Common stock (par value $0.02 per share; authorized 199,980 shares, 26,291 and 24,680 shares issued and outstanding, respectively) 526 492
Additional paid-in capital 218,266 200,913
Retained earnings 57,773 28,051
Accumulated other comprehensive income (loss), net of income taxes (21) (148)
Total shareholders' equity 296,282 249,046
Total liabilities and shareholders' equity 2,059,912 1,429,513
Joint Ventures and Other Non-Control Investments    
ASSETS    
Investments $ 57,678 $ 41,587