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REGULATORY MATTERS

3 Months Ended

Mar. 31, 2024

REGULATORY MATTERS

REGULATORY MATTERS

NOTE 9 – REGULATORY MATTERS

Banks and certain bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action.

Under regulatory guidance for non-advanced approaches institutions, the Bank and Company are required to maintain minimum amounts and ratios of common equity Tier I capital to risk-weighted assets, including an additional conservation buffer determined by banking regulators. As of March 31, 2024 and December 31, 2023, this buffer was 2.5%. The Bank met all capital adequacy requirements to which they are subject as of March 31, 2024 and December 31, 2023.

Actual and required capital amounts and ratios are presented below at period-end:

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​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​				​	​	​	​	​	​	To Be Well
​	​	​	​	​	​	​	​	​	​	​	​	Minimum Capital				​	Capitalized Under
​	​	​	​	​	​	​	For Capital				​	Adequacy with				​	Prompt Corrective
​	​	Actual				​	Adequacy Purposes				​	Capital Buffer				​	Action Provisions
​		Amount			Ratio		Amount			Ratio		Amount			Ratio		Amount			Ratio	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
March 31, 2024	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total capital (to risk-weighted assets):		​					​					​					​				​
Company	​	$	473,440		13.49	%	$	280,722		8.00	%	$	368,447		10.50	%	​	NA		NA	​
Bank	​	$	429,412		12.24	%	$	280,562		8.00	%	$	368,237		10.50	%	$	350,702		10.00	%
Tier 1 capital (to risk-weighted assets):	​		​	​	​	​					​					​		​			​
Company	​	$	423,164		12.06	%	$	210,541		6.00	%	$	298,267		8.50	%	​	NA		NA	​
Bank	​	$	391,136		11.15	%	$	210,421		6.00	%	$	298,097		8.50	%	$	280,562		8.00	%
Common Equity Tier 1 capital (to risk-weighted assets):	​		​	​	​	​					​					​					​
Company	​	$	423,164		12.06	%	$	157,906		4.50	%	$	245,632		7.00	%	​	NA		NA	​
Bank	​	$	391,136		11.15	%	$	157,816		4.50	%	$	245,491		7.00	%	$	227,956		6.50	%
Tier 1 capital (to average assets):	​	​	​	​	​	​	​				​					​					​
Company	​	$	423,164		10.73	%	$	157,788		4.00	%	$	157,788		4.00	%	​	NA		NA	​
Bank	​	$	391,136		9.91	%	$	157,946		4.00	%	$	157,946		4.00	%	$	197,433		5.00	%
December 31, 2023	​		​			​		​			​					​					​
Total capital (to risk-weighted assets):	​		​			​					​					​					​
Company	​	$	484,398		13.99	%	$	276,904		8.00	%	$	363,437		10.50	%	​	NA		NA	​
Bank	​	$	446,634		12.91	%	$	276,726		8.00	%	$	363,202		10.50	%	$	345,907		10.00	%
Tier 1 capital (to risk-weighted assets):	​		​	​	​	​					​					​		​			​
Company	​	$	437,979		12.65	%	$	207,678		6.00	%	$	294,211		8.50	%	​	NA		NA	​
Bank	​	$	412,215		11.92	%	$	207,544		6.00	%	$	294,021		8.50	%	$	276,726		8.00	%
Common Equity Tier 1 capital (to risk-weighted assets):	​		​	​	​	​					​					​					​
Company	​	$	433,979		12.54	%	$	155,759		4.50	%	$	242,291		7.00	%	​	NA		NA	​
Bank	​	$	412,215		11.92	%	$	155,658		4.50	%	$	242,135		7.00	%	$	224,840		6.50	%
Tier 1 capital (to average assets):	​		​	​	​	​					​					​					​
Company	​	$	437,979		11.05	%	$	158,581		4.00	%	$	158,581		4.00	%	​	NA		NA	​
Bank	​	$	412,215		10.40	%	$	158,585		4.00	%	$	158,585		4.00	%	$	198,231		5.00	%

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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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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
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