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NOTE 9 - REGULATORY CAPITAL REQUIREMENTS | 3 Months Ended
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Mar. 31, 2019
Notes to Financial Statements |
REGULATORY CAPITAL REQUIREMENTS | NOTE 9 – REGULATORY CAPITAL REQUIREMENTS The Company (on a consolidated basis) and the subsidiary banks are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company and subsidiary banks' financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the subsidiary banks 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. Quantitative measures established by regulation to ensure capital adequacy require the Company and the subsidiary banks to maintain minimum amounts and ratios (set forth in the following table) of total common equity Tier 1 and Tier 1 capital to risk-weighted assets and of Tier 1 capital to average assets, each as defined by regulation. Management believes, as of March 31, 2019 and December 31, 2018, that the Company and the subsidiary banks met all capital adequacy requirements to which they are subject. Under the regulatory framework for prompt corrective action, to be categorized as “well capitalized,” an institution must maintain minimum total risk-based, Tier 1 risk-based, Tier 1 leverage and common equity Tier 1 ratios as set forth in the following tables. The Company and the subsidiary banks' actual capital amounts and ratios as of March 31, 2019 and December 31, 2018 are presented in the following table (dollars in thousands). As of March 31, 2019 and December 31, 2018, each of the subsidiary banks met the requirements to be “well capitalized”.
|  |  |  |  |  |  |  |  |  |  |  | For Capital |  | To Be Well |
|  |  |  |  |  |  |  |  |  |  |  | Adequacy Purposes |  | Capitalized Under |
|  |  |  |  |  |  | For Capital |  | With Capital |  | Prompt Corrective |
|  | Actual |  | Adequacy Purposes |  | Conservation Buffer* |  | Action Provisions |
|  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio |
As of March 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 538,030 |  | 12.26 | % | $ | 351,173 | > | 8.00 | % | $ | 460,914 | > | 10.50 | % | $ | 438,966 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 433,453 |  | 9.87 | % |  | 263,379 | > | 6.00 |  |  | 373,121 | > | 8.50 |  |  | 351,173 | > | 8.00 |
Tier 1 leverage |  |  | 433,453 |  | 8.90 | % |  | 194,905 | > | 4.00 |  |  | 194,905 | > | 4.00 |  |  | 243,632 | > | 5.00 |
Common equity Tier 1 |  |  | 395,740 |  | 9.02 | % |  | 197,535 | > | 4.50 |  |  | 307,276 | > | 7.00 |  |  | 295,328 | > | 6.50 |
Quad City Bank & Trust: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 166,864 |  | 11.59 | % | $ | 115,131 | > | 8.00 | % | $ | 151,110 | > | 10.50 | % | $ | 143,914 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 153,375 |  | 10.66 | % |  | 86,349 | > | 6.00 |  |  | 122,327 | > | 8.50 |  |  | 115,131 | > | 8.00 |
Tier 1 leverage |  |  | 153,375 |  | 9.21 | % |  | 66,621 | > | 4.00 |  |  | 66,621 | > | 4.00 |  |  | 83,277 | > | 5.00 |
Common equity Tier 1 |  |  | 153,375 |  | 10.66 | % |  | 64,761 | > | 4.50 |  |  | 100,740 | > | 7.00 |  |  | 93,544 | > | 6.50 |
Cedar Rapids Bank & Trust: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 152,230 |  | 11.59 | % | $ | 105,103 | > | 8.00 | % | $ | 137,947 | > | 10.50 | % | $ | 131,379 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 139,406 |  | 10.61 | % |  | 78,827 | > | 6.00 |  |  | 111,672 | > | 8.50 |  |  | 105,103 | > | 8.00 |
Tier 1 leverage |  |  | 139,406 |  | 10.03 | % |  | 55,617 | > | 4.00 |  |  | 55,617 | > | 4.00 |  |  | 69,521 | > | 5.00 |
Common equity Tier 1 |  |  | 139,406 |  | 10.61 | % |  | 59,120 | > | 4.50 |  |  | 91,965 | > | 7.00 |  |  | 85,396 | > | 6.50 |
Community State Bank: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 82,640 |  | 12.23 | % | $ | 54,069 | > | 8.00 | % | $ | 70,966 | > | 10.50 | % | $ | 67,587 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 76,329 |  | 11.29 | % |  | 40,552 | > | 6.00 |  |  | 57,449 | > | 8.50 |  |  | 54,069 | > | 8.00 |
Tier 1 leverage |  |  | 76,329 |  | 9.97 | % |  | 30,630 | > | 4.00 |  |  | 30,630 | > | 4.00 |  |  | 38,287 | > | 5.00 |
Common equity Tier 1 |  |  | 76,329 |  | 11.29 | % |  | 30,414 | > | 4.50 |  |  | 47,311 | > | 7.00 |  |  | 43,931 | > | 6.50 |
Springfield First Community Bank: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 62,958 |  | 13.04 | % | $ | 38,639 | > | 8.00 | % | $ | 50,713 | > | 10.50 | % | $ | 48,298 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 56,666 |  | 11.73 | % |  | 28,979 | > | 6.00 |  |  | 41,053 | > | 8.50 |  |  | 38,639 | > | 8.00 |
Tier 1 leverage |  |  | 56,666 |  | 10.36 | % |  | 21,883 | > | 4.00 |  |  | 21,883 | > | 4.00 |  |  | 27,353 | > | 5.00 |
Common equity Tier 1 |  |  | 56,666 |  | 11.73 | % |  | 21,734 | > | 4.50 |  |  | 33,809 | > | 7.00 |  |  | 31,394 | > | 6.50 |
Rockford Bank & Trust: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 51,286 |  | 10.93 | % | $ | 37,530 | > | 8.00 | % | $ | 49,259 | > | 10.50 | % | $ | 46,913 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 45,408 |  | 9.68 | % |  | 28,148 | > | 6.00 |  |  | 39,876 | > | 8.50 |  |  | 37,530 | > | 8.00 |
Tier 1 leverage |  |  | 45,408 |  | 8.84 | % |  | 20,544 | > | 4.00 |  |  | 20,544 | > | 4.00 |  |  | 25,681 | > | 5.00 |
Common equity Tier 1 |  |  | 45,408 |  | 9.68 | % |  | 21,111 | > | 4.50 |  |  | 32,839 | > | 7.00 |  |  | 30,494 | > | 6.50 |
|  |  |  |  |  |  |  |  |  |  |  | For Capital |  | To Be Well |
|  |  |  |  |  |  |  |  |  |  |  | Adequacy Purposes |  | Capitalized Under |
|  |  |  |  |  |  | For Capital |  | With Capital |  | Prompt Corrective |
|  | Actual |  | Adequacy Purposes |  | Conservation Buffer |  | Action Provisions |
|  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio |
As of December 31, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 460,416 |  | 10.69 | % | $ | 344,551 | > | 8.00 | % | $ | 425,305 | > | 9.875 | % | $ | 430,689 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 420,569 |  | 9.77 | % |  | 258,413 | > | 6.00 |  |  | 339,168 | > | 7.875 |  |  | 344,551 | > | 8.00 |
Tier 1 leverage |  |  | 420,569 |  | 8.87 | % |  | 189,858 | > | 4.00 |  |  | 189,858 | > | 4.000 |  |  | 237,322 | > | 5.00 |
Common equity Tier 1 |  |  | 382,899 |  | 8.89 | % |  | 193,810 | > | 4.50 |  |  | 274,564 | > | 6.375 |  |  | 279,948 | > | 6.50 |
Quad City Bank & Trust: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 162,009 |  | 11.38 | % | $ | 113,900 | > | 8.00 | % | $ | 140,596 | > | 9.875 | % | $ | 142,376 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 148,529 |  | 10.43 | % |  | 85,425 | > | 6.00 |  |  | 112,121 | > | 7.875 |  |  | 113,900 | > | 8.00 |
Tier 1 leverage |  |  | 148,529 |  | 9.04 | % |  | 65,744 | > | 4.00 |  |  | 65,744 | > | 4.000 |  |  | 82,180 | > | 5.00 |
Common equity Tier 1 |  |  | 148,529 |  | 10.43 | % |  | 64,069 | > | 4.50 |  |  | 90,764 | > | 6.375 |  |  | 92,544 | > | 6.50 |
Cedar Rapids Bank & Trust: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 146,292 |  | 11.55 | % | $ | 101,310 | > | 8.00 | % | $ | 125,054 | > | 9.875 | % | $ | 126,637 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 133,982 |  | 10.58 | % |  | 75,982 | > | 6.00 |  |  | 99,727 | > | 7.875 |  |  | 101,310 | > | 8.00 |
Tier 1 leverage |  |  | 133,982 |  | 9.98 | % |  | 53,682 | > | 4.00 |  |  | 53,682 | > | 4.000 |  |  | 67,103 | > | 5.00 |
Common equity Tier 1 |  |  | 133,982 |  | 10.58 | % |  | 56,987 | > | 4.50 |  |  | 80,731 | > | 6.375 |  |  | 82,314 | > | 6.50 |
Community State Bank: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 75,233 |  | 11.24 | % | $ | 53,567 | > | 8.00 | % | $ | 66,122 | > | 9.875 | % | $ | 66,959 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 69,101 |  | 10.32 | % |  | 40,175 | > | 6.00 |  |  | 52,730 | > | 7.875 |  |  | 53,567 | > | 8.00 |
Tier 1 leverage |  |  | 69,101 |  | 9.19 | % |  | 30,070 | > | 4.00 |  |  | 30,070 | > | 4.000 |  |  | 37,588 | > | 5.00 |
Common equity Tier 1 |  |  | 69,101 |  | 10.32 | % |  | 30,131 | > | 4.50 |  |  | 42,686 | > | 6.375 |  |  | 43,523 | > | 6.50 |
Springfield First Community Bank: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 57,051 |  | 12.24 | % | $ | 37,278 | > | 8.00 | % | $ | 46,016 | > | 9.875 | % | $ | 46,598 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 51,279 |  | 11.00 | % |  | 27,959 | > | 6.00 |  |  | 36,696 | > | 7.875 |  |  | 37,278 | > | 8.00 |
Tier 1 leverage |  |  | 51,279 |  | 9.39 | % |  | 21,849 | > | 4.00 |  |  | 21,849 | > | 4.000 |  |  | 27,312 | > | 5.00 |
Common equity Tier 1 |  |  | 51,279 |  | 11.00 | % |  | 20,969 | > | 4.50 |  |  | 29,706 | > | 6.375 |  |  | 30,289 | > | 6.50 |
Rockford Bank & Trust: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 50,648 |  | 10.89 | % | $ | 37,208 | > | 8.00 | % | $ | 45,929 | > | 9.875 | % | $ | 46,511 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 44,821 |  | 9.64 | % |  | 27,906 | > | 6.00 |  |  | 36,627 | > | 7.875 |  |  | 37,208 | > | 8.00 |
Tier 1 leverage |  |  | 44,821 |  | 8.93 | % |  | 20,081 | > | 4.00 |  |  | 20,081 | > | 4.000 |  |  | 25,101 | > | 5.00 |
Common equity Tier 1 |  |  | 44,821 |  | 9.64 | % |  | 20,930 | > | 4.50 |  |  | 29,650 | > | 6.375 |  |  | 30,232 | > | 6.50 |
* March 31, 2019 minimums reflect the fully phased-in ratios (including the capital conservation buffer).

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- Definition The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958572-112826 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958573-112826 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958570-112826 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958569-112826 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958577-112826 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958575-112826 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958574-112826 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958568-112826 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=84167132&loc=d3e65071-112826 + Details
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