v3.8.0.1

Regulatory Matters | 12 Months Ended
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Dec. 31, 2017
Regulatory Capital Requirements [Abstract] |
Regulatory Matters | NOTE 19: REGULATORY MATTERS FFI 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 possible additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on FFI and the Bank’s financial condition. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of FFI and the Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. In July, 2013, the federal bank regulatory agencies approved the final rules implementing the Basel Committee on Banking Supervision's capital guidelines for U.S. banks. The new rules became effective on January 1, 2015, with certain of the requirements phased-in over a multi-year schedule, and fully phased in by January 1, 2019. The rules include a new common equity Tier 1 ("CET1") capital to risk-weighted assets ratio with minimums for capital adequacy and prompt corrective action purposes of 4.5% and 6.5%, respectively. The net unrealized gain or loss on available for sale securities is not included in computing regulatory capital. FFI’s and the Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by the regulators to ensure capital adequacy require FFI and the Bank to maintain minimum amounts and ratios (set forth in the table below) of total and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital (as defined) to assets (as defined). Management believes, as of December 31, 2017 that FFI and the Bank met all capital adequacy requirements. The following table presents the regulatory standards for well-capitalized institutions and the capital ratios for FFI and the Bank as of:
|  | Actual |  |  | For Capital Adequacy Purposes |  |  | To Be Well-Capitalized Under Prompt Corrective Action Provisions |
(dollars in thousands) |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
FFI |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CET1 capital ratio |  | $ | 366,236 |  |  |  | 11.99 | % |  | $ | 137,435 |  |  |  | 4.50 | % |  |  |  |  |  |  |  |
Tier 1 leverage ratio |  |  | 366,236 |  |  |  | 8.44 | % |  |  | 173,514 |  |  |  | 4.00 | % |  |  |  |  |  |  |  |
Tier 1 risk-based capital ratio |  |  | 366,236 |  |  |  | 11.99 | % |  |  | 183,246 |  |  |  | 6.00 | % |  |  |  |  |  |  |  |
Total risk-based capital ratio |  |  | 385,236 |  |  |  | 12.61 | % |  |  | 244,328 |  |  |  | 8.00 | % |  |  |  |  |  |  |  |
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CET1 capital ratio |  | $ | 285,754 |  |  |  | 12.80 | % |  | $ | 100,432 |  |  |  | 4.50 | % |  |  |  |  |  |  |  |
Tier 1 leverage ratio |  |  | 285,754 |  |  |  | 8.76 | % |  |  | 130,525 |  |  |  | 4.00 | % |  |  |  |  |  |  |  |
Tier 1 risk-based capital ratio |  |  | 285,754 |  |  |  | 12.80 | % |  |  | 133,910 |  |  |  | 6.00 | % |  |  |  |  |  |  |  |
Total risk-based capital ratio |  |  | 301,664 |  |  |  | 13.52 | % |  |  | 178,547 |  |  |  | 8.00 | % |  |  |  |  |  |  |  |
BANK |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CET1 capital ratio |  | $ | 398,709 |  |  |  | 13.07 | % |  | $ | 137,290 |  |  |  | 4.50 | % |  | $ | 198,308 |  |  |  | 6.50 | %
Tier 1 leverage ratio |  |  | 398,709 |  |  |  | 9.20 | % |  |  | 173,363 |  |  |  | 4.00 | % |  |  | 216,703 |  |  |  | 5.00 | %
Tier 1 risk-based capital ratio |  |  | 398,709 |  |  |  | 13.07 | % |  |  | 183,053 |  |  |  | 6.00 | % |  |  | 244,071 |  |  |  | 8.00 | %
Total risk-based capital ratio |  |  | 417,709 |  |  |  | 13.69 | % |  |  | 244,071 |  |  |  | 8.00 | % |  |  | 305,089 |  |  |  | 10.00 | %
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CET1 capital ratio |  | $ | 272,221 |  |  |  | 12.23 | % |  | $ | 100,166 |  |  |  | 4.50 | % |  | $ | 144,685 |  |  |  | 6.50 | %
Tier 1 leverage ratio |  |  | 272,221 |  |  |  | 8.36 | % |  |  | 130,305 |  |  |  | 4.00 | % |  |  | 162,881 |  |  |  | 5.00 | %
Tier 1 risk-based capital ratio |  |  | 272,221 |  |  |  | 12.23 | % |  |  | 133,555 |  |  |  | 6.00 | % |  |  | 178,074 |  |  |  | 8.00 | %
Total risk-based capital ratio |  |  | 288,131 |  |  |  | 12.94 | % |  |  | 178,074 |  |  |  | 8.00 | % |  |  | 222,592 |  |  |  | 10.00 | %
As of each of the dates set forth in the above table, the Company (on a consolidated basis) exceeded the minimum required capital ratios applicable to it and FFB (on a stand-alone basis) qualified as a well-capitalized depository institution under the capital adequacy guidelines. As of December 31, 2017, the amount of capital at FFB in excess of amounts required to be Well Capitalized was $200 million for the CET-1 capital ratio, $182 million for the Tier 1 leverage ratio, $155 million for the Tier 1 risk-based capital ratio and $113 million for the Total risk-based capital ratio. No conditions or events have occurred since December 31, 2017 that we believe have changed FFI’s or FFB’s capital adequacy classifications from those set forth in the above table. The “Basel III” rules adopted by the Federal Reserve Board and the FDIC (the “New Capital Rules”) introduced a capital conservation buffer which is an increment added to the minimum capital ratios. If a banking organization does not hold a capital conservation buffer composed of common equity tier 1 capital above its minimum risk-based capital requirements, it will face constraints on dividends, equity repurchases and executive compensation based on the amount of the shortfall. The capital buffer is measured against risk weighted assets and is therefore not applicable to the tier 1 leverage ratio. The implementation of the capital conservation buffer began on January 1, 2016 at 0.625%, and will increase by 0.625% on each subsequent January 1, until it reaches 2.5% on January 1, 2019. The following table sets forth the minimum capital ratios plus the applicable increment of the capital conservation buffer as of the current year and when it is fully implemented in 2019:
|  | 2017 |  | 2019
CET-1 to risk-weighted assets |  | 5.750 | % |  | 7.000 | %
Tier 1 capital (i.e., CET-1 plus Additional Tier 1) to risk-weighted assets |  | 7.250 | % |  | 8.500 | %
Total capital (i.e., Tier 1 plus Tier 2) to risk-weighted assets |  | 9.250 | % |  | 10.500 | %

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- Definition The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958577-112826 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958572-112826 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958574-112826 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=84167132&loc=d3e65071-112826 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958569-112826 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958570-112826 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958575-112826 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958568-112826 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958573-112826 + Details
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