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Regulatory Capital Requirements | 12 Months Ended
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Dec. 31, 2024
Regulatory Capital Requirements Under Banking Regulations [Abstract] |
Regulatory Capital Requirements | Regulatory Capital Requirements The Company and the Bank are subject to various regulatory capital requirements administered by 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 financial statements. 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 its assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Prompt corrective action provisions are not applicable to bank holding companies. Basel III Capital Requirements The Company and the Bank are subject to Basel III capital guidelines. Basel III requires the Company and the Bank to maintain certain minimum ratios to meet capital adequacy requirements. It is management’s belief that, as of December 31, 2024, both the Company and the Bank met all capital adequacy requirements under Basel III. Management expects that the capital ratios for the Company and the Bank under Basel III will continue to exceed capital adequacy requirements. Management believes that, as of December 31, 2024, the Bank is well-capitalized under the regulatory framework for prompt corrective action. Bank holding companies that qualify as “small bank holding companies” under the Policy Statement are exempt from the Federal Reserve’s consolidated capital adequacy ratios at the holding company level and instead are evaluated at the bank level. In May 2018, the Economic Growth Act was enacted. One of the Economic Growth Act’s highlights, with implications for the Company, was the asset threshold under the Policy Statement being increased from $1.0 billion to $3.0 billion, which benefits bank holding companies by, among various other items, allowing for an 18-month safety and soundness examination cycle as opposed to a 12-month examination cycle, changing to scaled biannual regulatory reporting requirements as opposed to quarterly regulatory reporting requirements, and not subjecting bank holding companies to capital adequacy guidelines on a consolidated basis. Effective January 1, 2023, the Company no longer receives any benefits under the Policy Statement and became subject to consolidated capital requirements. As of the June 30, 2024 measurement date, the Company had more than $3.0 billion in assets and remains subject to consolidated capital requirements. Capital amounts and ratios for the Company as of December 31, 2024 and 2023, are presented in the following table (Basel III Minimum includes the capital conservation buffer):
| Actual |  | Basel III Minimum |  |
(dollars in thousands) | Amount |  | Ratio |  | Amount |  | Ratio |  |  |  |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |
Total Risk-Based Capital | $ | 400,813 |  |  | 18.13 | % |  | $ | 232,161 |  |  | 10.50 | % |  |  |  |
Tier I Risk-Based Capital | $ | 378,440 |  |  | 17.12 | % |  | $ | 187,940 |  |  | 8.50 | % |  |  |  |
Common Equity Tier I Capital | $ | 378,440 |  |  | 17.12 | % |  | $ | 154,774 |  |  | 7.00 | % |  |  |  |
Tier I Leverage Capital | $ | 378,440 |  |  | 11.86 | % |  | $ | 127,615 |  |  | 4.00 | % |  |  |  |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |
Total Risk-Based Capital | $ | 384,577 |  |  | 18.28 | % |  | $ | 220,905 |  |  | 10.50 | % |  |  |  |
Tier I Risk-Based Capital | $ | 362,799 |  |  | 17.24 | % |  | $ | 178,828 |  |  | 8.50 | % |  |  |  |
Common Equity Tier I Capital | $ | 362,799 |  |  | 17.24 | % |  | $ | 147,270 |  |  | 7.00 | % |  |  |  |
Tier I Leverage Capital | $ | 362,799 |  |  | 11.56 | % |  | $ | 125,575 |  |  | 4.00 | % |  |  |  |
Capital amounts and ratios for the Bank as of December 31, 2024 and 2023, are presented in the following table (Basel III Minimum includes the capital conservation buffer):
|  |  |  |  | Regulatory Requirements
| Actual |  | Basel III Minimum |  | Well-Capitalized(1)
(dollars in thousands) | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |
Total Risk-Based Capital | $ | 393,743 |  |  | 17.81 | % |  | $ | 232,092 |  |  | 10.50 | % |  | $ | 221,040 |  |  | 10.00 | %
Tier I Risk-Based Capital | $ | 371,370 |  |  | 16.80 | % |  | $ | 187,884 |  |  | 8.50 | % |  | $ | 176,832 |  |  | 8.00 | %
Common Equity Tier I Capital | $ | 371,370 |  |  | 16.80 | % |  | $ | 154,728 |  |  | 7.00 | % |  | $ | 143,676 |  |  | 6.50 | %
Tier I Leverage Capital | $ | 371,370 |  |  | 11.64 | % |  | $ | 127,582 |  |  | 4.00 | % |  | $ | 159,477 |  |  | 5.00 | %
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |
Total Risk-Based Capital | $ | 378,582 |  |  | 18.00 | % |  | $ | 220,850 |  |  | 10.50 | % |  | $ | 210,333 |  |  | 10.00 | %
Tier I Risk-Based Capital | $ | 356,804 |  |  | 16.96 | % |  | $ | 178,783 |  |  | 8.50 | % |  | $ | 168,266 |  |  | 8.00 | %
Common Equity Tier I Capital | $ | 356,804 |  |  | 16.96 | % |  | $ | 147,233 |  |  | 7.00 | % |  | $ | 136,716 |  |  | 6.50 | %
Tier I Leverage Capital | $ | 356,804 |  |  | 11.37 | % |  | $ | 125,538 |  |  | 4.00 | % |  | $ | 156,923 |  |  | 5.00 | %
(1)This column refers to the prompt corrective action requirements applicable to banks. Community Bank Leverage Ratio Framework As part of the directive under the Economic Growth Act, in September 2019, the FDIC and other federal bank regulatory agencies approved the CBLR framework. This optional framework became effective January 1, 2020, and is available to the Company and the Bank as an alternative to the Basel III risk-based capital framework. The CBLR framework provides for a simple measure of capital adequacy for certain community banking organizations. Specifically, depository institutions and depository institution holding companies that have less than $10.0 billion in total consolidated assets and meet other qualifying criteria, including a Tier I leverage ratio of greater than 9.00%, are considered qualifying community banking organizations eligible to opt into the CBLR framework and replace the applicable Basel III risk-based capital requirements. As of December 31, 2024, the Company and the Bank qualify for the CBLR framework. Management does not intend to utilize the CBLR framework.

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- Definition Regulatory Capital Requirements Under Banking Regulations + References No definition available. + Details
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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://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1D -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1D Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1F + Details
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