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Regulatory Capital (Tables)
 12 Months Ended
Dec. 31, 2024
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]  
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations The following tables summarize both the Corporation’s and the Bank’s capital ratios and the ratios required by their federal regulators:

 

 

 

As of December 31, 2024

 

 

 

Actual (1)

 

 

Minimum Required
for Capital
Adequacy Purposes

 

 

For Capital
Adequacy Purposes
Plus Capital
Conservation Buffer

 

 

Minimum Required
to Be Well
Capitalized Under
Prompt Corrective
Action
Requirements

 

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

 

(Dollars in Thousands)

 

Total capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

421,639

 

 

 

12.08

%

$

279,330

 

 

 

8.00

%

$

366,621

 

 

 

10.50

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

417,965

 

 

 

11.97

 

 

 

279,342

 

 

 

8.00

 

 

 

366,636

 

 

 

10.50

 

 

$

349,177

 

 

 

10.00

%

Tier 1 capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

329,796

 

 

 

9.45

%

 

$

209,498

 

 

 

6.00

%

 

$

296,788

 

 

 

8.50

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

380,811

 

 

 

10.91

 

 

 

209,506

 

 

 

6.00

 

 

 

296,801

 

 

 

8.50

 

 

$

279,342

 

 

 

8.00

%

Common equity tier 1 capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

317,804

 

 

 

9.10

%

 

$

157,123

 

 

 

4.50

%

 

$

244,414

 

 

 

7.00

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

380,811

 

 

 

10.91

 

 

 

157,130

 

 

 

4.50

 

 

 

244,424

 

 

 

7.00

 

 

$

226,965

 

 

 

6.50

%

Tier 1 leverage capital
   (to adjusted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

329,796

 

 

 

8.78

%

 

$

150,256

 

 

 

4.00

%

 

$

150,256

 

 

 

4.00

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

380,811

 

 

 

10.14

 

 

 

150,207

 

 

 

4.00

 

 

 

150,207

 

 

 

4.00

 

 

$

187,759

 

 

 

5.00

%

 

 

 

 

As of December 31, 2023

 

 

 

Actual (1)

 

 

Minimum Required
for Capital
Adequacy Purposes

 

 

For Capital
Adequacy Purposes
Plus Capital
Conservation Buffer

 

 

Minimum Required
to Be Well
Capitalized Under
Prompt Corrective
Action
Requirements

 

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

 

(Dollars in Thousands)

 

Total capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

375,440

 

 

 

11.19

%

 

$

268,500

 

 

 

8.00

%

 

$

352,406

 

 

 

10.50

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

376,310

 

 

 

11.21

 

 

 

268,595

 

 

 

8.00

 

 

 

352,531

 

 

 

10.50

 

 

$

335,744

 

 

 

10.00

%

Tier 1 capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

293,338

 

 

 

8.74

%

 

$

201,375

 

 

 

6.00

%

 

$

285,281

 

 

 

8.50

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

343,604

 

 

 

10.23

 

 

 

201,446

 

 

 

6.00

 

 

 

285,382

 

 

 

8.50

 

 

$

268,595

 

 

 

8.00

%

Common equity tier 1 capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

281,346

 

 

 

8.38

%

 

$

151,031

 

 

 

4.50

%

 

$

234,937

 

 

 

7.00

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

343,604

 

 

 

10.23

 

 

 

151,085

 

 

 

4.50

 

 

 

235,021

 

 

 

7.00

 

 

$

218,233

 

 

 

6.50

%

Tier 1 leverage capital
   (to adjusted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

293,338

 

 

 

8.43

%

 

$

139,145

 

 

 

4.00

%

 

$

139,145

 

 

 

4.00

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

343,604

 

 

 

9.87

 

 

 

139,262

 

 

 

4.00

 

 

 

139,262

 

 

 

4.00

 

 

$

174,077

 

 

 

5.00

%

 

(1)
2024 and 2023 capital amounts include $676,000 and $1.0 million, respectively, of additional stockholders’ equity as elected by the Corporation and permitted by federal banking regulatory agencies related to the adoption of ASC 326. Risk-weighted assets were also adjusted accordingly.
Reconciliation of Stockholders' Equity to Federal Regulatory Capital

The following table reconciles stockholders’ equity to federal regulatory capital at December 31, 2024 and 2023, respectively:

 

 

As of December 31,

 

 

2024

 

 

2023

 

 

(In Thousands)

 

Stockholders’ equity of the Corporation

 

$

328,589

 

 

$

289,588

 

Net unrealized and accumulated losses on specific items

 

 

11,425

 

 

 

13,717

 

Disallowed servicing assets

 

 

(514

)

 

 

(614

)

Disallowed goodwill and other intangibles

 

 

(10,380

)

 

 

(10,368

)

ASC 326 Phase-in

 

 

676

 

 

 

1,015

 

Tier 1 capital

 

 

329,796

 

 

 

293,338

 

Allowable general valuation allowances and subordinated
   debt

 

 

91,843

 

 

 

82,102

 

Total capital

 

$

421,639

 

 

$

375,440