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Regulatory Matters | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Regulatory Matters | NOTE 23 – Regulatory Matters The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. The capital rules require banks and bank holding companies to maintain a minimum total risked-based capital ratio of at least 8%, a total Tier 1 capital ratio of at least 6%, a minimum common equity Tier 1 capital ratio of at least 4.5%, and a leverage ratio of at least 4%. Bank holding companies and banks are also required to hold a capital conservation buffer of common equity Tier 1 capital of 2.5% to avoid limitations on capital distributions and discretionary executive compensation payments. The capital conservation buffer was phased in incrementally over time, becoming fully effective on January 1, 2019, and consists of an additional amount of common equity equal to 2.5% of risk-weighted assets. To be considered “well-capitalized” for purposes of certain rules and prompt corrective action requirements, the Bank must maintain a minimum total risked-based capital ratio of at least 10%, a total Tier 1 capital ratio of at least 8%, a common equity Tier 1 capital ratio of at least 6.5%, and a leverage ratio of at least 5%. As of December 31, 2022, our capital ratios exceed these ratios and we remain “well capitalized.” The following table summarizes the capital amounts and ratios of the Bank and the Company and the regulatory minimum requirements at December 31, 2022 and 2021.
|  |  |  |  |  |  |  | To be well |
|  |  |  |  |  |  |  | capitalized |
|  |  |  |  | For capital |  |  | under prompt |
|  |  |  |  | adequacy purposes |  |  | corrective action |
|  | Actual |  |  | minimum |  |  | provisions minimum |
(dollars in thousands) |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
As of December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
The Bank |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital (to risk weighted assets) |  | $ | 366,988 |  |  |  | 12.45 | % |  | $ | 235,892 |  |  |  | 8.00 | % |  | $ | 294,865 |  |  |  | 10.00 | %
Tier 1 Capital (to risk weighted assets) |  |  | 330,108 |  |  |  | 11.20 | % |  |  | 176,919 |  |  |  | 6.00 | % |  |  | 235,892 |  |  |  | 8.00 | %
Common Equity Tier 1 Capital (to risk weighted assets) |  |  | 330,108 |  |  |  | 11.20 | % |  |  | 132,689 |  |  |  | 4.50 | % |  |  | 191,662 |  |  |  | 6.50 | %
Tier 1 Capital (to average assets) |  |  | 330,108 |  |  |  | 9.43 | % |  |  | 140,040 |  |  |  | 4.00 | % |  |  | 175,050 |  |  |  | 5.00 | %
The Company |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital (to risk weighted assets) |  |  | 380,802 |  |  |  | 12.91 | % |  |  | 235,892 |  |  |  | 8.00 | % |  |  | n/a |  |  |  | n/a |
Tier 1 Capital (to risk weighted assets) |  |  | 320,922 |  |  |  | 10.88 | % |  |  | 176,919 |  |  |  | 6.00 | % |  |  | n/a |  |  |  | n/a |
Common Equity Tier 1 Capital (to risk weighted assets) |  |  | 307,922 |  |  |  | 10.44 | % |  |  | 132,689 |  |  |  | 4.50 | % |  |  | n/a |  |  |  | n/a |
Tier 1 Capital (to average assets) |  |  | 320,922 |  |  |  | 9.17 | % |  |  | 140,057 |  |  |  | 4.00 | % |  |  | n/a |  |  |  | n/a |
|  |  |  |  |  |  |  |  |  |  |  |  |  | To be well |
|  |  |  |  |  |  |  |  |  |  |  |  |  | capitalized |
|  |  |  |  |  |  |  | For capital |  |  | under prompt |
|  |  |  |  |  |  |  | adequacy purposes |  |  | corrective action |
|  | Actual |  |  | minimum |  |  | provisions minimum |
(dollars in thousands) |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
As of December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
The Bank |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital (to risk weighted assets) |  | $ | 331,052 |  |  |  | 14.36 | % |  | $ | 184,418 |  |  |  | 8.00 | % |  | $ | 230,522 |  |  |  | 10.00 | %
Tier 1 Capital (to risk weighted assets) |  |  | 302,217 |  |  |  | 13.11 | % |  |  | 138,313 |  |  |  | 6.00 | % |  |  | 184,418 |  |  |  | 8.00 | %
Common Equity Tier 1 Capital (to risk weighted assets) |  |  | 302,217 |  |  |  | 13.11 | % |  |  | 103,735 |  |  |  | 4.50 | % |  |  | 149,839 |  |  |  | 6.50 | %
Tier 1 Capital (to average assets) |  |  | 302,217 |  |  |  | 10.55 | % |  |  | 114,537 |  |  |  | 4.00 | % |  |  | 143,172 |  |  |  | 5.00 | %
The Company(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital (to risk weighted assets) |  |  | 343,476 |  |  |  | 14.90 | % |  |  | 184,418 |  |  |  | 8.00 | % |  |  | n/a |  |  |  | n/a |
Tier 1 Capital (to risk weighted assets) |  |  | 291,641 |  |  |  | 12.65 | % |  |  | 138,313 |  |  |  | 6.00 | % |  |  | n/a |  |  |  | n/a |
Common Equity Tier 1 Capital (to risk weighted assets) |  |  | 278,641 |  |  |  | 12.09 | % |  |  | 103,735 |  |  |  | 4.50 | % |  |  | n/a |  |  |  | n/a |
Tier 1 Capital (to average assets) |  |  | 291,641 |  |  |  | 10.18 | % |  |  | 114,555 |  |  |  | 4.00 | % |  |  | n/a |  |  |  | n/a |
(1) | Under the Federal Reserve’s Small Bank Holding Company Policy Statement, in 2021, the Company was not subject to the minimum capital adequacy and capital conservation buffer capital requirements at the holding company level. Although the minimum regulatory capital requirements were not applicable to the Company in 2021, we calculated these ratios for our own planning and monitoring purposes.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958575-112826 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958569-112826 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(2) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(1) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958573-112826 + Details
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