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Supplementary Regulatory Capital Disclosure | 6 Months Ended
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Jun. 30, 2024
Debt Disclosure [Abstract] |
Supplementary Regulatory Capital Disclosure |
18. | Supplementary Regulatory Capital Disclosure
The Company’s subsidiary, WEX Bank, is subject to various regulatory capital requirements administered by the FDIC and the UDFI. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, WEX Bank must meet specific capital guidelines that involve quantitative measures of WEX Bank’s assets, liabilities and certain off-balance sheet items. WEX Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could limit business activities and have a material effect on the Company’s business, results of operations and financial condition. Quantitative measures established by regulation to ensure capital adequacy require WEX Bank to maintain minimum amounts and ratios as defined in the regulations. The most recent FDIC exam report categorized WEX Bank as “well capitalized” under the regulatory framework for prompt corrective action. There are no conditions or events subsequent to that examination report that management believes have changed WEX Bank’s capital rating. The following table presents WEX Bank’s actual and regulatory minimum capital amounts and ratios:
(in millions) | Actual Amount |  | Ratio |  | Minimum for Capital Adequacy Purposes Amount |  | Ratio |  | Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions Amount |  | Ratio
June 30, 2024 |  |  |  |  |  |  |  |  |  |  |
Total Capital to risk-weighted assets | $ | 719.2 |  |  | 14.15 | % |  | $ | 406.7 |  |  | 8.00 | % |  | $ | 508.4 |  |  | 10.00 | %
Tier 1 Capital to average assets | $ | 665.9 |  |  | 9.63 | % |  | $ | 276.5 |  |  | 4.00 | % |  | $ | 345.7 |  |  | 5.00 | %
Common equity to risk-weighted assets | $ | 665.9 |  |  | 13.10 | % |  | $ | 228.8 |  |  | 4.50 | % |  | $ | 330.4 |  |  | 6.50 | %
Tier 1 Capital to risk-weighted assets | $ | 665.9 |  |  | 13.10 | % |  | $ | 305.0 |  |  | 6.00 | % |  | $ | 406.7 |  |  | 8.00 | %
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |
Total Capital to risk-weighted assets | $ | 727.2 |  |  | 16.27 | % |  | $ | 357.5 |  |  | 8.00 | % |  | $ | 446.9 |  |  | 10.00 | %
Tier 1 Capital to average assets | $ | 675.2 |  |  | 10.21 | % |  | $ | 264.4 |  |  | 4.00 | % |  | $ | 330.5 |  |  | 5.00 | %
Common equity to risk-weighted assets | $ | 675.2 |  |  | 15.11 | % |  | $ | 201.1 |  |  | 4.50 | % |  | $ | 290.5 |  |  | 6.50 | %
Tier 1 Capital to risk-weighted assets | $ | 675.2 |  |  | 15.11 | % |  | $ | 268.1 |  |  | 6.00 | % |  | $ | 357.5 |  |  | 8.00 | %

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1D -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1D Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1F + Details
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