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Regulatory Capital

12 Months Ended

Dec. 31, 2024

14. Regulatory Capital

Under current capital regulations, the Bank is required to comply with four separate capital adequacy standards. These capital adequacy standards require maintaining minimum ratios of tier 1 capital (4.0%), common equity tier 1 capital (“CET1”) (4.5%), tier 1 risk-based capital (6.0%) and total risk-based capital (8.0%). As of December 31, 2024 and 2023, the Bank continued to exceed all capital adequacy levels and was categorized as “well-capitalized” under these regulations. Additionally, the Bank is also required to comply with a capital conservation buffer (“CCB”). The CCB is designed to establish a capital range above minimum capital requirements and impose constraints on dividends, share buybacks and discretionary bonus payments when capital levels fall below prescribed levels. The minimum CCB is 2.5%. The CCB for the Bank at December 31, 2024 and 2023 was 5.11% and 4.81%, respectively.

Set forth below is a summary of the Bank’s compliance with banking regulatory capital standards.


	December 31, 2024				December 31, 2023
			Percent of				Percent of
	Amount		Assets		Amount		Assets

	(Dollars in thousands)
Tier I (leverage) capital:
Capital level	$	847,588	9.31	%	$	825,104	9.47	%
Requirement to be well-capitalized		455,335	5.00			435,792	5.00
Excess		392,253	4.31			389,312	4.47

Common Equity Tier I risk-based capital:
Capital level	$	847,588	12.51	%	$	825,104	12.22	%
Requirement to be well-capitalized		440,259	6.50			438,878	6.50
Excess		407,329	6.01			386,226	5.72

Tier I risk-based capital:
Capital level	$	847,588	12.51	%	$	825,104	12.22	%
Requirement to be well-capitalized		541,857	8.00			540,157	8.00
Excess		305,731	4.51			284,947	4.22

Total risk-based capital:
Capital level	$	887,902	13.11	%	$	864,999	12.81	%
Requirement to be well-capitalized		677,321	10.00			675,196	10.00
Excess		210,581	3.11			189,803	2.81

The Holding Company is subject to the same regulatory capital requirements as the Bank. As of December 31, 2024, the Holding Company continues to exceed all capital adequacy levels and was categorized as “well-capitalized” under these regulations. The CCB for the Holding Company at December 31, 2024 and 2023 was 4.82% and 4.93%, respectively.

Set forth below is a summary of the Holding Company’s compliance with banking regulatory capital standards.


	December 31, 2024				December 31, 2023
			Percent of				Percent of
	Amount		Assets		Amount		Assets

	(Dollars in thousands)
Tier I (leverage) capital:
Capital level	$	731,958	8.04	%	$	737,732	8.47	%
Requirement to be well-capitalized		455,297	5.00			435,748	5.00
Excess		276,661	3.04			301,984	3.47

Common Equity Tier I risk-based capital:
Capital level	$	685,004	10.13	%	$	691,754	10.25	%
Requirement to be well-capitalized		439,533	6.50			438,770	6.50
Excess		245,471	3.63			252,984	3.75

Tier I risk-based capital:
Capital level	$	731,958	10.82	%	$	737,732	10.93	%
Requirement to be well-capitalized		540,964	8.00			540,024	8.00
Excess		190,994	2.82			197,708	2.93

Total risk-based capital:
Capital level	$	962,272	14.23	%	$	967,627	14.33	%
Requirement to be well-capitalized		676,205	10.00			675,030	10.00
Excess		286,067	4.23			292,597	4.33

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

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