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NOTE 10 - REGULATORY CAPITAL REQUIREMENTS | 9 Months Ended
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Sep. 30, 2019
Notes to Financial Statements |
REGULATORY CAPITAL REQUIREMENTS | NOTE 10 – 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 September 30, 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 September 30, 2019 and December 31, 2018 are presented in the following table (dollars in thousands). As of September 30, 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 September 30, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 567,977 |  | 12.22 | % | $ | 371,904 | > | 8.00 | % | $ | 488,124 | > | 10.50 | % | $ | 464,880 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 461,899 |  | 9.94 |  |  | 278,928 | > | 6.00 |  |  | 395,148 | > | 8.50 |  |  | 371,904 | > | 8.00 |
Tier 1 leverage |  |  | 461,899 |  | 9.02 |  |  | 204,868 | > | 4.00 |  |  | 204,868 | > | 4.00 |  |  | 256,085 | > | 5.00 |
Common equity Tier 1 |  |  | 424,102 |  | 9.12 |  |  | 209,196 | > | 4.50 |  |  | 325,416 | > | 7.00 |  |  | 302,172 | > | 6.50 |
Quad City Bank & Trust: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 177,834 |  | 11.72 | % | $ | 121,345 | > | 8.00 | % | $ | 159,265 | > | 10.50 | % | $ | 151,681 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 163,998 |  | 10.81 |  |  | 91,009 | > | 6.00 |  |  | 128,929 | > | 8.50 |  |  | 121,345 | > | 8.00 |
Tier 1 leverage |  |  | 163,998 |  | 9.85 |  |  | 66,604 | > | 4.00 |  |  | 66,604 | > | 4.00 |  |  | 83,255 | > | 5.00 |
Common equity Tier 1 |  |  | 163,998 |  | 10.81 |  |  | 68,257 | > | 4.50 |  |  | 106,177 | > | 7.00 |  |  | 98,593 | > | 6.50 |
Cedar Rapids Bank & Trust: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 168,158 |  | 11.64 | % | $ | 115,524 | > | 8.00 | % | $ | 151,625 | > | 10.50 | % | $ | 144,405 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 154,769 |  | 10.72 |  |  | 86,643 | > | 6.00 |  |  | 122,744 | > | 8.50 |  |  | 115,524 | > | 8.00 |
Tier 1 leverage |  |  | 154,769 |  | 9.99 |  |  | 61,993 | > | 4.00 |  |  | 61,993 | > | 4.00 |  |  | 77,491 | > | 5.00 |
Common equity Tier 1 |  |  | 154,769 |  | 10.72 |  |  | 64,982 | > | 4.50 |  |  | 101,083 | > | 7.00 |  |  | 93,863 | > | 6.50 |
Community State Bank: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 89,088 |  | 12.92 | % | $ | 55,147 | > | 8.00 | % | $ | 72,380 | > | 10.50 | % | $ | 68,933 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 82,399 |  | 11.95 |  |  | 41,360 | > | 6.00 |  |  | 58,593 | > | 8.50 |  |  | 55,147 | > | 8.00 |
Tier 1 leverage |  |  | 82,399 |  | 10.35 |  |  | 31,846 | > | 4.00 |  |  | 31,846 | > | 4.00 |  |  | 39,808 | > | 5.00 |
Common equity Tier 1 |  |  | 82,399 |  | 11.95 |  |  | 31,020 | > | 4.50 |  |  | 48,253 | > | 7.00 |  |  | 44,807 | > | 6.50 |
Springfield First Community Bank: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total risk-based capital |  | $ | 68,371 |  | 13.16 | % | $ | 41,561 | > | 8.00 | % | $ | 54,549 | > | 10.50 | % | $ | 51,951 | > | 10.00 | %
Tier 1 risk-based capital |  |  | 61,328 |  | 11.80 |  |  | 31,171 | > | 6.00 |  |  | 44,159 | > | 8.50 |  |  | 41,561 | > | 8.00 |
Tier 1 leverage |  |  | 61,328 |  | 9.67 |  |  | 25,375 | > | 4.00 |  |  | 25,375 | > | 4.00 |  |  | 31,719 | > | 5.00 |
Common equity Tier 1 |  |  | 61,328 |  | 11.80 |  |  | 23,378 | > | 4.50 |  |  | 36,366 | > | 7.00 |  |  | 33,768 | > | 6.50 |
* September 30, 2019 minimums reflect the fully phased-in ratios (including the capital conservation buffer).
|  |  |  |  |  |  |  |  |  |  |  | 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 |

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