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Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of compliance with regulatory capital requirements

The following table presents the Company’s regulatory capital ratios as of December 31, 2023 and December 31, 2022:

(Dollars in thousands)						Actual Ratio
December 31, 2023						Amount						Ratio
Tier 1 Leverage Ratio						$	222,567					9.18		%
Common Equity Tier 1 Ratio (CET 1)						$	217,567					12.78		%
Tier 1 Risk-Based Capital Ratio						$	222,567					13.07		%
Total Risk-Based Capital Ratio						$	273,699					16.08		%
December 31, 2022
Tier 1 Leverage Ratio						$	205,154					8.37		%
Common Equity Tier 1 Ratio (CET 1)						$	200,154					11.92		%
Tier 1 Risk-Based Capital Ratio						$	205,154					12.22		%
Total Risk-Based Capital Ratio						$	250,556					14.92		%

The following table presents the Bank’s regulatory capital ratios as of December 31, 2023 and December 31, 2022, as well as the minimum capital ratios for capital adequacy for the Bank:

(Dollars in thousands)						Actual Ratio												Minimum regulatory requirement (1)
December 31, 2023						Amount						Ratio						Amount						Ratio
Tier 1 Leverage Ratio						$	285,099					11.75		%				$	97,016					4.00		%
Common Equity Tier 1 Ratio (CET 1)						$	285,099					16.76		%				$	76,526					7.00		%
Tier 1 Risk-Based Capital Ratio						$	285,099					16.76		%				$	102,035					8.50		%
Total Risk-Based Capital Ratio						$	301,642					17.74		%				$	136,047					10.50		%
December 31, 2022
Tier 1 Leverage Ratio						$	266,373					10.86		%				$	98,075					4.00		%
Common Equity Tier 1 Ratio (CET 1)						$	266,373					15.87		%				$	75,516					7.00		%
Tier 1 Risk-Based Capital Ratio						$	266,373					15.87		%				$	100,688					8.50		%
Total Risk-Based Capital Ratio						$	277,331					16.53		%				$	134,251					10.50		%
(1) The minimum regulatory requirement threshold includes the capital conservation buffer of 2.50%.

Schedule of computation of basic and diluted earnings per common share

A reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations is as follows (in thousands, except share and per-share amounts):

						For the Years Ended December 31,
						2023						2022						2021
Basic Earnings Per Common Share:
Net income						$	25,536					$	26,645					$	28,401
Weighted average shares outstanding						11,728,858						11,715,376						12,237,424
Net income per common share						$	2.17					$	2.27					$	2.32
Diluted Earnings Per Common Share:
Net income						$	25,536					$	26,645					$	28,401
Weighted average shares outstanding						11,728,858						11,715,376						12,237,424
Effect of dilutive stock options and warrants						24,014						23,698						44,508
Weighted average shares of common stock and common stock equivalents						11,752,872						11,739,074						12,281,932
Net income per diluted common share						$	2.17					$	2.27					$	2.31

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- References

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- Definition

Tabular disclosure of the capital amounts and ratios as of the balance sheet date, indicating whether the entity or entities are in compliance with regulatory capital requirements, by entity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480696/942-505-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480696/942-505-50-1B

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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