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Regulatory Matters | 12 Months Ended
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Dec. 31, 2021
Banking and Thrift, Interest [Abstract] |
Regulatory Matters | Regulatory MattersApplicable regulations require the Bank to maintain minimum levels of regulatory capital. Under the regulations in effect at December 31, 2021, the Bank was required to maintain a minimum ratio of Tier 1 capital to total average assets of 4.0%; a minimum ratio of common equity Tier 1 capital to risk-weighted assets of 7.0%; a minimum ratio of Tier 1 capital to risk-weighted assets of 8.5%; and a minimum ratio of total (core and supplementary) capital to risk-weighted assets of 10.5%. These ratios include the impact of the required 2.50% capital conservation buffer. With its conversion to a bank holding company on January 31, 2018, the Company became subject to substantially similar consolidated capital requirements imposed by Federal Reserve Board (“FRB”) regulations. Under the regulatory framework for prompt corrective action, federal regulators are required to take certain supervisory actions (and may take additional discretionary actions) with respect to an undercapitalized institution. Such actions could have a direct material effect on the institution’s financial statements. The regulations establish a framework for the classification of banking institutions into five categories: well-capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized. Generally, an institution is considered well-capitalized if it has a Tier 1 capital rati o of 5.0%; a common equity Tier 1 risk-based ratio of at least 6.5%; a Tier 1 risk-based ratio of at least 8.0%; and a total risk-based capital ratio of at least 10.0%. At December 31, 2021 and 2020, the Company and the Bank exceeded all regulatory capital requirements currently applicable. The following is a summary of the Bank’s and the Company’s regulatory capital amounts and ratios as of December 31, 2021 and 2020 compared to the regulatory minimum capital adequacy requirements and the regulatory requirements for classification as a well-capitalized institution then in effect (dollars in thousands):
As of December 31, 2021 | Actual |  | For capital adequacy purposes |  | To be well-capitalized under prompt corrective action
Bank: | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Tier 1 capital (to average assets) | $ | 1,027,660 |  |  | 9.08 | % |  | $ | 452,669 |  |  | 4.00 | % |  | $ | 565,836 |  |  | 5.00 | %
Common equity Tier 1 (to risk-weighted assets) | 1,027,660 |  |  | 11.62 |  |  | 619,178 |  |  | 7.00 |  | (1) | 574,951 |  |  | 6.50 |
Tier 1 capital (to risk-weighted assets) | 1,027,660 |  |  | 11.62 |  |  | 751,860 |  |  | 8.50 |  | (1) | 707,633 |  |  | 8.00 |
Total capital (to risk-weighted assets) | 1,079,766 |  |  | 12.21 |  |  | 928,768 |  |  | 10.50 |  | (1) | 884,541 |  |  | 10.00 |
Company: |  |  |  |  |  |  |  |  |  |  |
Tier 1 capital (to average assets) | $ | 1,044,518 |  |  | 9.22 | % |  | $ | 453,087 |  |  | 4.00 | % |  | N/A |  | N/A
Common equity Tier 1 (to risk-weighted assets) | 917,088 |  |  | 10.26 |  |  | 625,801 |  |  | 7.00 |  | (1) | N/A |  | N/A
Tier 1 capital (to risk-weighted assets) | 1,044,518 |  |  | 11.68 |  |  | 759,902 |  |  | 8.50 |  | (1) | N/A |  | N/A
Total capital (to risk-weighted assets) | 1,257,372 |  |  | 14.06 |  |  | 938,702 |  |  | 10.50 |  | (1) | N/A |  | N/A
As of December 31, 2020 | Actual |  | For capital adequacy purposes |  | To be well-capitalized under prompt corrective action
Bank: | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Tier 1 capital (to average assets) | $ | 942,122 |  |  | 8.48 | % |  | $ | 444,648 |  |  | 4.00 | % |  | $ | 555,810 |  |  | 5.00 | %
Common equity Tier 1 (to risk-weighted assets) | 942,122 |  |  | 12.11 |  |  | 544,625 |  |  | 7.00 |  | (1) | 505,724 |  |  | 6.50 |
Tier 1 capital (to risk-weighted assets) | 942,122 |  |  | 12.11 |  |  | 661,331 |  |  | 8.50 |  | (1) | 622,429 |  |  | 8.00 |
Total capital (to risk-weighted assets) | 1,004,480 |  |  | 12.91 |  |  | 816,938 |  |  | 10.50 |  | (1) | 778,036 |  |  | 10.00 |
Company: |  |  |  |  |  |  |  |  |  |  |
Tier 1 capital (to average assets) | $ | 998,273 |  |  | 9.44 | % |  | $ | 423,028 |  |  | 4.00 | % |  | N/A |  | N/A
Common equity Tier 1 (to risk-weighted assets) | 871,385 |  |  | 11.05 |  |  | 552,075 |  |  | 7.00 |  | (1) | N/A |  | N/A
Tier 1 capital (to risk-weighted assets) | 998,273 |  |  | 12.66 |  |  | 670,377 |  |  | 8.50 |  | (1) | N/A |  | N/A
Total capital (to risk-weighted assets) | 1,230,370 |  |  | 15.60 |  |  | 828,113 |  |  | 10.50 |  | (1) | N/A |  | N/A
(1) Includes the Capital Conservation Buffer of 2.50%. The Bank satisfies the criteria to be “well-capitalized” under the Prompt Corrective Action Regulations. On January 1, 2019, the full capital conservation buffer requirement of 2.50% became effective. Capital distributions and certain discretionary bonus payments are limited if the capital conservation buffer is not maintained. Applicable regulations also impose limitations upon capital distributions by the Company, such as dividends and payments to repurchase or otherwise acquire shares. The Company may not declare or pay cash dividends on or repurchase any of its shares of common stock if the effect thereof would cause stockholders’ equity to be reduced below applicable regulatory capital minimum requirements or if such declaration and payment would otherwise violate regulatory requirements.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958575-112826 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958569-112826 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958573-112826 + Details
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