XML 47 R32.htm IDEA: XBRL DOCUMENT v3.25.0.1
Regulatory Matters
 12 Months Ended
Dec. 31, 2024
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, 2024, 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, 2024 and 2023.

                                               
             
   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, 2024                              
The Bank                              
Total Capital (to risk weighted assets)  $402,629    12.66%  $254,412    8.00%  $318,015    10.00%
Tier 1 Capital (to risk weighted assets)   362,875    11.41%   190,809    6.00%   254,412    8.00%
Common Equity Tier 1 Capital (to risk weighted assets)   362,875    11.41%   143,107    4.50%   206,709    6.50%
Tier 1 Capital (to average assets)   362,875    8.75%   165,941    4.00%   207,426    5.00%
                               
The Company                              
Total Capital (to risk weighted assets)   403,867    12.70%   254,392    8.00%   n/a    n/a 
Tier 1 Capital (to risk weighted assets)   354,916    11.16%   190,794    6.00%   n/a    n/a 
Common Equity Tier 1 Capital (to risk weighted assets)   341,916    10.75%   143,096    4.50%   n/a    n/a 
Tier 1 Capital (to average assets)   354,916    8.55%   165,963    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, 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