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Regulatory Matters | 3 Months Ended
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Mar. 31, 2020
Regulatory Matters |
Regulatory Matters | NOTE 17 Regulatory Matters The Company and the Bank are 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 consolidated financial statements. Quantitative measures established by regulation to ensure capital adequacy require the Company and 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 at March 31, 2020 and December 31, 2019, each of the Company and the Bank had met all of the capital adequacy requirements to which it is subject. The following table presents the Company’s and the Bank’s actual capital amounts and ratios as of March 31, 2020 and December 31, 2019:
|  | March 31, 2020 |
|  |  |  |  |  |  |  |  |  |  |  |  | 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 |  | $ | 243,448 |  | 12.36 | % | $ | 88,643 |  | 4.50 | % | $ | N/A |  | N/A |
Bank |  |  | 232,162 |  | 11.80 | % |  | 88,567 |  | 4.50 | % |  | 127,930 |  | 6.50 | %
Tier 1 capital to risk weighted assets |  |  |  |  |  |  |  |  |  |  |  |  | . |  |  |
Consolidated |  |  | 251,671 |  | 12.78 | % |  | 118,190 |  | 6.00 | % |  | N/A |  | N/A |
Bank |  |  | 232,162 |  | 11.80 | % |  | 118,089 |  | 6.00 | % |  | 157,452 |  | 8.00 | %
Total capital to risk weighted assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 325,964 |  | 16.55 | % |  | 157,587 |  | 8.00 | % |  | N/A |  | N/A |
Bank |  |  | 256,793 |  | 13.05 | % |  | 157,452 |  | 8.00 | % |  | 196,815 |  | 10.00 | %
Tier 1 capital to average assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 251,671 |  | 10.62 | % |  | 94,826 |  | 4.00 | % |  | N/A |  | N/A |
Bank |  |  | 232,162 |  | 9.80 | % |  | 94,752 |  | 4.00 | % |  | 118,440 |  | 5.00 | %
|  | December 31, 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 |  | $ | 239,672 |  | 12.48 | % | $ | 86,452 |  | 4.50 | % | $ | N/A |  | N/A |
Bank |  |  | 228,512 |  | 11.91 | % |  | 86,362 |  | 4.50 | % |  | 124,745 |  | 6.50 | %
Tier 1 capital to risk weighted assets |  |  |  |  |  |  |  |  |  |  |  |  | . |  |  |
Consolidated |  |  | 247,866 |  | 12.90 | % |  | 115,270 |  | 6.00 | % |  | N/A |  | N/A |
Bank |  |  | 228,512 |  | 11.91 | % |  | 115,149 |  | 6.00 | % |  | 153,532 |  | 8.00 | %
Total capital to risk weighted assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 321,415 |  | 16.73 | % |  | 153,693 |  | 8.00 | % |  | N/A |  | N/A |
Bank |  |  | 252,436 |  | 13.15 | % |  | 153,532 |  | 8.00 | % |  | 191,915 |  | 10.00 | %
Tier 1 capital to average assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 247,866 |  | 11.05 | % |  | 91,504 |  | 4.00 | % |  | N/A |  | N/A |
Bank |  |  | 228,512 |  | 10.20 | % |  | 89,615 |  | 4.00 | % |  | 112,018 |  | 5.00 | %
The Bank is subject to certain restrictions on the amount of dividends that it may pay without prior regulatory approval. The Company and the Bank are subject to the rules of the Basel III regulatory capital framework and related Dodd-Frank Wall Street Reform and Consumer Protection Act rules. The rules included the implementation of a 2.5 percent capital conservation buffer that is added to the minimum requirements for capital adequacy purposes. A banking organization with a conservation buffer of less than the required amount will be subject to the limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers. At March 31, 2020, the ratios for the Company and the Bank were sufficient to meet the conservation buffer. In addition, the Company must adhere to various U.S. Department of Housing and Urban Development, or 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 March 31, 2020, and December 31, 2019, 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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