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Regulatory Matters | 9 Months Ended
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Sep. 30, 2025
Regulatory Matters [Abstract] |
Regulatory Matters | Regulatory Matters Capital guidelines adopted by federal and state regulatory agencies and restrictions imposed by law limit the amount of cash dividends our Bank can pay to us. Under these guidelines, the amount of dividends that may be paid in any calendar year is limited to the Bank’s current year net profits, combined with the retained net profits of the preceding two years. Further, the Bank cannot pay a dividend at any time that it has negative undivided profits. As of September 30, 2025, the Bank had positive undivided pro fits of $215.1 million. It is not our intent to have dividends paid in amounts that would reduce the capital of our Bank to levels below those which we consider prudent or that would not be in accordance with guidelines of regulatory authorities. We are also subject to various regulatory capital requirements. The prompt corrective action regulations establish quantitative measures to ensure capital adequacy and require minimum amounts and ratios of total, Tier 1, and common equity Tier 1 capital to risk-weighted assets and Tier 1 capital to average assets. Failure to meet minimum capital requirements can result in certain mandatory, and possibly discretionary, actions by regulators that could have a material effect on our interim condensed consolidated financial statements. In addition, capital adequacy rules include a common equity Tier 1 capital conservation buffer of 2.5% of risk-weighted assets that applies to all supervised financial institutions. To avoid limits on capital distributions and certain discretionary bonus payments we must meet the minimum ratio for adequately capitalized institutions plus the buffer. Under capital adequacy guidelines, we must meet specific capital requirements that involve quantitative measures as well as qualitative judgments by the regulators. The most recent regulatory filings as of September 30, 2025 and December 31, 2024, categorized our Bank as well capitalized and exceeding the minimum ratio for adequately capitalized institutions plus the capital conservation buffer. Management is not aware of any conditions or events that would have changed the most recent Federal Deposit Insurance Corporation (“FDIC”) categorization. Our actual capital amounts and ratios follow (1):
| Actual |  | Minimum for Adequately Capitalized Institutions |  | Minimum for Well-Capitalized Institutions
| Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
| (Dollars in thousands)
September 30, 2025 |  |  |  |  |  |  |  |  |  |  |
Total capital to risk-weighted assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 610,808 |  |  | 13.66 | % |  | $ | 357,706 |  |  | 8.00 | % |  | NA |  | NA
Independent Bank | 561,840 |  |  | 12.58 |  |  | 357,199 |  |  | 8.00 |  |  | $ | 446,499 |  |  | 10.00 | %
Tier 1 capital to risk-weighted assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 554,774 |  |  | 12.41 | % |  | $ | 268,280 |  |  | 6.00 | % |  | NA |  | NA
Independent Bank | 505,884 |  |  | 11.33 |  |  | 267,899 |  |  | 6.00 |  |  | $ | 357,199 |  |  | 8.00 | %
Common equity tier 1 capital to risk-weighted assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 516,151 |  |  | 11.54 | % |  | $ | 201,210 |  |  | 4.50 | % |  | NA |  | NA
Independent Bank | 505,884 |  |  | 11.33 |  |  | 200,925 |  |  | 4.50 |  |  | $ | 290,224 |  |  | 6.50 | %
Tier 1 capital to average assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 554,774 |  |  | 10.07 | % |  | $ | 220,377 |  |  | 4.00 | % |  | NA |  | NA
Independent Bank | 505,884 |  |  | 9.19 |  |  | 220,083 |  |  | 4.00 |  |  | $ | 275,104 |  |  | 5.00 | %
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |
Total capital to risk-weighted assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 622,444 |  |  | 14.22 | % |  | $ | 350,113 |  |  | 8.00 | % |  | NA |  | NA
Independent Bank | 567,254 |  |  | 12.99 |  |  | 349,335 |  |  | 8.00 |  |  | $ | 436,668 |  |  | 10.00 | %
Tier 1 capital to risk-weighted assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 527,616 |  |  | 12.06 | % |  | $ | 262,585 |  |  | 6.00 | % |  | NA |  | NA
Independent Bank | 512,546 |  |  | 11.74 |  |  | 262,001 |  |  | 6.00 |  |  | $ | 349,335 |  |  | 8.00 | %
Common equity tier 1 capital to risk-weighted assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 489,044 |  |  | 11.17 | % |  | $ | 196,939 |  |  | 4.50 | % |  | NA |  | NA
Independent Bank | 512,546 |  |  | 11.74 |  |  | 196,501 |  |  | 4.50 |  |  | $ | 283,834 |  |  | 6.50 | %
Tier 1 capital to average assets |  |  |  |  |  |  |  |  |  |  |
Consolidated | $ | 527,616 |  |  | 9.85 | % |  | $ | 214,332 |  |  | 4.00 | % |  | NA |  | NA
Independent Bank | 512,546 |  |  | 9.58 |  |  | 214,112 |  |  | 4.00 |  |  | $ | 267,640 |  |  | 5.00 | %
_______________________________________
(1) | These ratios do not reflect a capital conservation buffer of 2.50% at September 30, 2025 and December 31, 2024.
NA - Not applicable The components of our regulatory capital are as follows:
| Consolidated |  | Independent Bank
| September 30, 2025 |  | December 31, 2024 |  | September 30, 2025 |  | December 31, 2024
| (In thousands)
Total shareholders' equity | $ | 490,742 |  |  | $ | 454,686 |  |  | $ | 480,475 |  |  | $ | 478,188 |
Add (deduct) |  |  |  |  |  |  |
Accumulated other comprehensive loss for regulatory purposes | 54,832 |  |  | 64,146 |  |  | 54,832 |  |  | 64,146 |
Goodwill and other intangibles | (29,423) |  |  | (29,788) |  |  | (29,423) |  |  | (29,788) |
Common equity tier 1 capital | 516,151 |  |  | 489,044 |  |  | 505,884 |  |  | 512,546 |
Qualifying trust preferred securities | 38,623 |  |  | 38,572 |  |  | — |  |  | — |
Tier 1 capital | 554,774 |  |  | 527,616 |  |  | 505,884 |  |  | 512,546 |
Subordinated debt | — |  |  | 40,000 |  |  | — |  |  | — |
Allowance for credit losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets | 56,034 |  |  | 54,828 |  |  | 55,956 |  |  | 54,708 |
Total risk-based capital | $ | 610,808 |  |  | $ | 622,444 |  |  | $ | 561,840 |  |  | $ | 567,254 |

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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 -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1D -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1D Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1F + Details
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