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Regulatory Matters | 9 Months Ended
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Sep. 30, 2019
Regulatory Matters |
Regulatory Matters | NOTE 18 Regulatory Matters The Bank is 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’s and the Bank’s consolidated financial statements. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the following table) of common equity tier 1, tier 1, and total capital (as defined in the regulations) to risk weighted assets (as defined) and of tier 1 capital (as defined) to average assets (as defined). Management believes as of September 30, 2019 and December 31, 2018, the Bank had met all of the capital adequacy requirements to which it is subject and would be considered well capitalized under the regulatory framework for prompt corrective action. The following table presents the Company’s and the Bank’s actual capital amounts and ratios as of September 30, 2019 and December 31, 2018:
|  | September 30, 2019 |
|  |  |  |  |  |  |  |  |  |  | Minimum to be |
|  |  |  |  |  |  | Requirements |  | Well Capitalized |
|  |  |  |  |  |  | for Capital |  | Under Prompt |
|  | Actual |  | Adequacy Purposes |  | Corrective Action |
(dollars in thousands) |  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio |
Common equity tier 1 capital to risk weighted assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 233,030 |  | 12.38 | % | 84,705 |  | 4.50 | % | N/A |  | N/A |
Bank |  |  | 222,600 |  | 11.84 | % | 84,594 |  | 4.50 | % | 122,192 |  | 6.50 | %
Tier 1 capital to risk weighted assets |  |  |  |  |  |  |  |  |  |  | . |  |  |
Consolidated |  |  | 241,197 |  | 12.81 | % | 112,940 |  | 6.00 | % | N/A |  | N/A |
Bank |  |  | 222,600 |  | 11.84 | % | 112,792 |  | 6.00 | % | 150,390 |  | 8.00 | %
Total capital to risk weighted assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 313,700 |  | 16.67 | % | 150,587 |  | 8.00 | % | N/A |  | N/A |
Bank |  |  | 245,585 |  | 13.06 | % | 150,390 |  | 8.00 | % | 187,987 |  | 10.00 | %
Tier 1 capital to average assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 241,197 |  | 11.33 | % | 85,152 |  | 4.00 | % | N/A |  | N/A |
Bank |  |  | 222,600 |  | 10.47 | % | 85,009 |  | 4.00 | % | 106,261 |  | 5.00 | %
|  | December 31, 2018 |
|  |  |  |  |  |  |  |  |  |  | Minimum to be |
|  |  |  |  |  |  | Requirements |  | Well Capitalized |
|  |  |  |  |  |  | for Capital |  | Under Prompt |
|  | Actual |  | Adequacy Purposes |  | Corrective Action |
(dollars in thousands) |  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio |
Common equity tier 1 capital to risk weighted assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 151,745 |  | 8.43 | % | N/A |  | N/A |  | N/A |  | N/A |
Bank |  |  | 204,680 |  | 11.39 | % | 80,866 |  | 4.50 | % | 116,806 |  | 6.50 | %
Tier 1 capital to risk weighted assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 159,774 |  | 8.87 | % | N/A |  | N/A |  | N/A |  | N/A |
Bank |  |  | 204,680 |  | 11.39 | % | 107,821 |  | 6.00 | % | 143,761 |  | 8.00 | %
Total capital to risk weighted assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 231,510 |  | 12.86 | % | N/A |  | N/A |  | N/A |  | N/A |
Bank |  |  | 226,854 |  | 12.62 | % | 143,806 |  | 8.00 | % | 179,758 |  | 10.00 | %
Tier 1 capital to average assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 159,774 |  | 7.51 | % | N/A |  | N/A |  | N/A |  | N/A |
Bank |  |  | 204,680 |  | 9.63 | % | 85,018 |  | 4.00 | % | 106,272 |  | 5.00 | %
The Bank is subject to certain restrictions on the amount of dividends that it may pay without prior regulatory approval. In addition, the Company must adhere to various U.S. Department of Housing and Urban Development (“HUD”) regulatory guidelines including required minimum capital and liquidity to maintain their Federal Housing Administration approval status. Failure to comply with the HUD guidelines could result in withdrawal of this certification. As of September 30, 2019, and December 31, 2018, the Company was in compliance with HUD guidelines.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958572-112826 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958570-112826 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958577-112826 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -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 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958574-112826 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=117337116&loc=d3e65071-112826 + Details
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