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Regulatory matters

9 Months Ended

Sep. 30, 2025

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 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, 2025 and December 31, 2024, 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 the Company’s and Bank’s risk-based capital and related ratios at September 30, 2025 and December 31, 2024:


	September 30, 2025
									Minimum to be Well
									Capitalized under
					Minimum For Capital				Prompt Corrective
	Actual				Adequacy Purposes				Action Provisions
(Dollars in thousands, except percents)	Amount		Ratio		Amount		Ratio		Amount		Ratio
Common equity Tier 1 capital to risk-weighted assets:
Company	$	433,211	11.01	%	$	177,062	4.50	%		NA	NA
Bank		514,266	13.09			176,791	4.50		$	255,365	6.50	%
Tier 1 capital to risk-weighted assets:
Company		443,211	11.26			236,169	6.00			NA	NA
Bank		514,266	13.09			235,722	6.00			314,295	8.00
Total capital to risk-weighted assets:
Company		564,792	14.35			314,867	8.00			NA	NA
Bank		552,736	14.07			314,278	8.00			392,847	10.00
Tier 1 capital to average assets:
Company		443,211	8.87			199,870	4.00			NA	NA
Bank		514,266	10.31			199,521	4.00			249,402	5.00
NA = not applicable


	December 31, 2024
									Minimum to be Well
									Capitalized under
					Minimum For Capital				Prompt Corrective
	Actual				Adequacy Purposes				Action Provisions
(Dollars in thousands, except percents)	Amount		Ratio		Amount		Ratio		Amount		Ratio
Common equity Tier 1 capital to risk-weighted assets:
Company	$	399,461	10.16	%	$	176,971	4.50	%		NA	NA
Bank		429,958	10.95			176,640	4.50		$	255,147	6.50	%
Tier 1 capital to risk-weighted assets:
Company		409,461	10.41			235,962	6.00			NA	NA
Bank		429,958	10.95			235,520	6.00			314,027	8.00
Total capital to risk-weighted assets:
Company		485,117	12.34			314,616	8.00			NA	NA
Bank		472,614	12.04			314,027	8.00			392,534	10.00
Tier 1 capital to average assets:
Company		409,461	7.97			205,493	4.00			NA	NA
Bank		429,958	8.37			205,431	4.00			256,788	5.00
NA = not applicable

- 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.

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