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Regulatory matters | 9 Months Ended
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Sep. 30, 2024
Regulatory matters |
Regulatory matters | ​ 16. Regulatory matters ​ The Company’s ability to pay dividends to its shareholders is largely dependent on Peoples Bank’s ability to pay dividends to the Company. Regulations with respect to the banking industry limit the amount of dividends that may be paid without prior approval of Peoples Bank’s regulatory agency. ​ The Company and the Peoples 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 adverse effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and Peoples Bank must meet specific capital guidelines that involve quantitative measures of the Company’s and Peoples Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company’s and Peoples Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Management believes, as of September 30, 2024 and December 31, 2023, that the Company and Peoples Bank met all applicable capital adequacy requirements. ​ Current quantitative measures established by regulation to ensure capital adequacy require Peoples Bank to maintain minimum amounts and ratios (set forth in the tables below) of Total capital, Tier I capital, and Tier I common equity (as defined in the regulations) to risk-weighted assets (as defined), and of Tier I capital (as defined) to average assets (as defined). The following tables present summary information regarding Peoples Bank’s risk-based capital and related ratios at September 30, 2024 and December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Minimum | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Minimum | ​ | ​ | Required To | ​
​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | Required For | ​ |  | Be Well | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Minimum | ​ | ​ | Capital | ​ | ​ | Capitalized | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Required For | ​ | ​ | Adequacy | ​ | ​ | Under Prompt | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Capital | ​ | ​ | Purposes with | ​ | ​ | Corrective | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Adequacy | ​ | ​ | Conservation | ​ | ​ | Action | ​
​ | ​ | Peoples Bank | ​ | Purposes | ​ | ​ | Buffer | ​ | ​ | Regulations | ​
(Dollars in thousands) |  | ​ | Amount |  | Ratio | ​ |  | Ratio | ​ |  | Ratio | ​ |  | Ratio | ​
September 30, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total capital ( to risk-weighted assets) | ​ | $ | 467,588 | ​ | 11.68 | % | ​ | 8.00 | % | ​ | 10.50 | % | ​ | 10.00 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tier I capital ( to risk-weighted assets) | ​ | ​ | 427,518 | ​ | 10.68 | ​ | ​ | 6.00 | ​ | ​ | 8.50 | ​ | ​ | 8.00 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tier I common equity ( to risk-weighted assets) | ​ | ​ | 427,518 | ​ | 10.68 | ​ | ​ | 4.50 | ​ | ​ | 7.00 | ​ | ​ | 6.50 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tier I capital ( to average assets) | ​ | ​ | 427,518 | ​ | 8.23 | ​ | ​ | 4.00 | ​ | ​ | 4.00 | ​ | ​ | 5.00 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total risk-weighted assets | ​ | ​ | 4,002,166 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total average assets | ​ | ​ | 5,306,258 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ ​ ​ ​ ​ ​ ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Minimum | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Minimum | ​ | ​ | Required To | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Required For | ​ | ​ | Be Well | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Minimum | ​ | ​ | Capital | ​ | ​ | Capitalized | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Required For | ​ | ​ | Adequacy | ​ | ​ | Under Prompt | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Capital | ​ | ​ | Purposes with | ​ | ​ | Corrective | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Adequacy | ​ | ​ | Conservation | ​ | ​ | Action | ​
​ | ​ | Peoples Bank | ​ | Purposes | ​ | ​ | Buffer | ​ | ​ | Regulations | ​
(Dollars in thousands) |  | ​ | Amount |  | Ratio | ​ |  | Ratio | ​ |  | Ratio | ​ |  | Ratio | ​
December 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total capital ( to risk-weighted assets) | ​ | $ | 375,268 | ​ | 14.12 | % | ​ | 8.00 | % | ​ | 10.50 | % | ​ | 10.00 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tier I capital ( to risk-weighted assets) | ​ | ​ | 353,330 | ​ | 13.30 | ​ | ​ | 6.00 | ​ | ​ | 8.50 | ​ | ​ | 8.00 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tier I common equity ( to risk-weighted assets) | ​ | ​ | 353,330 | ​ | 13.30 | ​ | ​ | 4.50 | ​ | ​ | 7.00 | ​ | ​ | 6.50 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tier I capital ( to average assets) | ​ | ​ | 353,330 | ​ | 9.34 | ​ | ​ | 4.00 | ​ | ​ | 4.00 | ​ | ​ | 5.00 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total risk-weighted assets | ​ | ​ | 2,656,901 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total average assets | ​ | ​ | 3,845,219 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​

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