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Regulatory Matters
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Regulatory Matters

NOTE 21 – 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, 2023, 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, 2023 and 2022.

                                               
             
   Actual   For capital
adequacy purposes
minimum		   To be well
capitalized
under prompt
corrective action
provisions minimum		 
(dollars in thousands)  Amount   Ratio   Amount   Ratio   Amount   Ratio 
As of December 31, 2023                              
The Bank                              
Total Capital (to risk weighted assets)  $390,197    12.28%  $254,278    8.00%  $317,847    10.00%
Tier 1 Capital (to risk weighted assets)   350,455    11.03%   190,708    6.00%   254,278    8.00%
Common Equity Tier 1 Capital (to risk weighted assets)   350,455    11.03%   143,031    4.50%   206,601    6.50%
Tier 1 Capital (to average assets)   350,455    8.47%   165,414    4.00%   206,767    5.00%
                               
The Company                              
Total Capital (to risk weighted assets)   399,551    12.57%   254,278    8.00%   n/a    n/a 
Tier 1 Capital (to risk weighted assets)   336,809    10.60%   190,708    6.00%   n/a    n/a 
Common Equity Tier 1 Capital (to risk weighted assets)   323,809    10.19%   143,031    4.50%   n/a    n/a 
Tier 1 Capital (to average assets)   336,809    8.14%   165,436    4.00%   n/a    n/a 
   Actual   For capital
adequacy purposes
minimum		   To be well
capitalized
under prompt
corrective action
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(1)                              
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 
(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.