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Regulatory Capital Matters
 12 Months Ended
Dec. 31, 2023
Banking and Thrift, Other Disclosure [Abstract]  
Regulatory Capital Matters Regulatory Capital Matters
Banks and financial holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, for the Bank, prompt corrective action ("PCA") 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 result in regulatory enforcement actions. The net unrealized gain or loss on AFS debt securities is excluded from computing regulatory capital. Management believes as of December 31, 2023 the Corporation and the Bank meet all capital adequacy requirements to which they are subject.

The PCA regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms alone do not represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion; brokered deposits may not be accepted, renewed or rolled over; and capital restoration plans are required. As of December 31, 2023 and 2022, the most recent regulatory notifications categorized the Bank as well capitalized under the PCA. There are no events or conditions since this notification that management believes have changed the Bank’s capital category.
Actual and required capital amounts and ratios are presented below as of December 31, 2023 and 2022. The capital adequacy ratio includes the capital conservation buffer.

 Actual
For Capital
Adequacy Purposes (1)
To Be Well Capitalized
Under Prompt Corrective
Action Provisions
 AmountRatioAmountRatioAmountRatio
December 31, 2023
Total Capital to Risk Weighted Assets
Consolidated$725,091 15.99 %$476,235 10.50 %N/AN/A
Bank603,409 13.36 474,339 10.50 $451,751 10.00 %
Tier 1 (Core) Capital to Risk Weighted Assets
Consolidated598,785 13.20 385,523 8.50 N/AN/A
Bank563,412 12.47 383,989 8.50 361,401 8.00 
Common equity Tier 1 to Risk Weighted Assets
Consolidated521,000 11.49 317,490 7.00 N/AN/A
Bank556,033 12.31 316,226 7.00 293,638 6.50 
Tier 1 (Core) Capital to Average Assets
Consolidated598,785 10.54 227,231 4.00 N/AN/A
Bank563,412 9.86 228,573 4.00 285,716 5.00 
December 31, 2022
Total Capital to Risk Weighted Assets
Consolidated$688,164 16.08 %$449,370 10.50 %N/AN/A
Bank525,048 12.32 447,436 10.50 $426,130 10.00 %
Tier 1 (Core) Capital to Risk Weighted Assets
Consolidated566,454 13.24 363,776 8.50 N/AN/A
Bank489,374 11.48 362,210 8.50 340,904 8.00 
Common equity Tier 1 to Risk Weighted Assets
Consolidated488,669 11.42 299,580 7.00 N/AN/A
Bank481,995 11.31 298,291 7.00 276,984 6.50 
Tier 1 (Core) Capital to Average Assets
Consolidated566,454 10.74 210,988 4.00 N/AN/A
Bank489,374 9.22 212,283 4.00 265,354 5.00 
(1) The minimum amounts and ratios as of December 31, 2023 and 2022 include the full phase in of the capital conservation buffer of 2.5 percent required by the Basel III framework.

Certain restrictions exist regarding the ability of the Bank to transfer funds to the Corporation in the form of cash dividends, loans or advances. During 2023, $421.5 million of accumulated net earnings of the Bank included in consolidated shareholders’ equity, plus any 2024 net profits retained to the date of the dividend declared, is available for distribution to the Corporation as dividends without prior regulatory approval, subject to regulatory capital requirements described above.