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Regulatory Matters | 12 Months Ended
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Dec. 31, 2024
Banking Regulation [Abstract] |
Regulatory Matters | REGULATORY MATTERS The Company and the Bank are subject to various regulatory capital requirements administered by the federal and state banking agencies. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a material and adverse effect on the Company’s and the Bank’s business, financial condition and results of operation, such as restrictions on growth or the payment of dividends or other capital distributions or management fees. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. On January 1, 2020, the Company adopted ASU 2016-13 and implemented the CECL methodology. In response to the COVID-19 pandemic, federal regulatory agencies published a final rule that provides the option to delay the cumulative effect of the day 1 impact of CECL adoption on regulatory capital, along with 25% of the change in the adjusted allowance for credit losses (as computed for regulatory capital purposes, which excludes purchased credit deteriorated (“PCD”) loans), for two years, followed by a three-year phase-in period. The Company has elected the five-year transition period consistent with the final rule issued by the federal regulatory agencies. At December 31, 2024, the ratios for the Company and the Bank were sufficient to meet the fully phased-in conservation buffer. At December 31, 2024 and 2023, the Bank’s capital levels exceeded the minimums necessary to be considered “well-capitalized” under the regulatory framework for prompt corrective action. To generally be categorized as “well-capitalized”, the Bank must maintain a minimum total capital ratio, Tier 1 capital ratio, common equity Tier 1 capital ratio, and leverage ratio as set forth in the following table. Management is not aware of any conditions or events since December 31, 2024, that would cause management to believe the institution would be considered to be in a lower capital category. The Company’s and the Bank’s capital levels and regulatory ratios are presented in the tables below for the dates indicated and include the effects of the Company’s election to utilize the five-year transition described above:
| Actual |  |  |  | Ratio Required for Capital Adequacy Purposes |  | Ratio Required To Be Well-Capitalized |  |  |  | Ratio Required for Minimum Capital Adequacy With Capital Conservation Buffer |  |
December 31, 2024 | Amount |  | Ratio |  |  |  |  |  |
| (Dollars in thousands)
Common equity Tier 1 capital (to risk weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company | $ | 1,900,601 |  |  | 13.06 | % |  |  |  | 4.50 | % |  | N/A |  |  |  | 7.00 | % |  |
Bank | $ | 1,978,969 |  |  | 13.61 | % |  |  |  | 4.50 | % |  | 6.50 | % |  |  |  | 7.00 | % |  |
Tier 1 capital (to risk-weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company | $ | 2,005,840 |  |  | 13.79 | % |  |  |  | 6.00 | % |  | N/A |  |  |  | 8.50 | % |  |
Bank | $ | 1,978,969 |  |  | 13.61 | % |  |  |  | 6.00 | % |  | 8.00 | % |  |  |  | 8.50 | % |  |
Total capital (to risk-weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company | $ | 2,150,810 |  |  | 14.78 | % |  |  |  | 8.00 | % |  | N/A |  |  |  | 10.50 | % |  |
Bank | $ | 2,123,939 |  |  | 14.61 | % |  |  |  | 8.00 | % |  | 10.00 | % |  |  |  | 10.50 | % |  |
Leverage capital (to average assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company | $ | 2,005,840 |  |  | 11.83 | % |  |  |  | 4.00 | % |  | N/A |  |  |  | N/A |  |
Bank | $ | 1,978,969 |  |  | 11.68 | % |  |  |  | 4.00 | % |  | 5.00 | % |  |  |  | N/A |  |
| Actual |  |  |  | Ratio Required for Capital Adequacy Purposes |  | Ratio Required To Be Well-Capitalized |  |  |  | Ratio Required for Minimum Capital Adequacy With Capital Conservation Buffer |  |
December 31, 2023 | Amount |  | Ratio |  |  |  |  |  |
| (Dollars in thousands)
Common equity Tier 1 capital (to risk weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company | $ | 1,869,774 |  |  | 12.28 | % |  |  |  | 4.50 | % |  | N/A |  |  |  | 7.00 | % |  |
Bank | $ | 1,940,303 |  |  | 12.75 | % |  |  |  | 4.50 | % |  | 6.50 | % |  |  |  | 7.00 | % |  |
Tier 1 capital (to risk-weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company | $ | 1,973,698 |  |  | 12.96 | % |  |  |  | 6.00 | % |  | N/A |  |  |  | 8.50 | % |  |
Bank | $ | 1,940,303 |  |  | 12.75 | % |  |  |  | 6.00 | % |  | 8.00 | % |  |  |  | 8.50 | % |  |
Total capital (to risk-weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company | $ | 2,120,157 |  |  | 13.92 | % |  |  |  | 8.00 | % |  | N/A |  |  |  | 10.50 | % |  |
Bank | $ | 2,086,762 |  |  | 13.71 | % |  |  |  | 8.00 | % |  | 10.00 | % |  |  |  | 10.50 | % |  |
Leverage capital (to average assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company | $ | 1,973,698 |  |  | 10.11 | % |  |  |  | 4.00 | % |  | N/A |  |  |  | N/A |  |
Bank | $ | 1,940,303 |  |  | 9.94 | % |  |  |  | 4.00 | % |  | 5.00 | % |  |  |  | N/A |  |

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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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