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Regulatory Capital Requirements | 12 Months Ended
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Dec. 31, 2014
Regulatory Capital Requirements [Abstract] |
Regulatory Capital Requirements | Regulatory Capital Requirements The ability of the Company to pay cash dividends to its shareholders depends primarily on receipt of dividends from its subsidiary, the Bank. The subsidiary may pay dividends to its parent out of so much of its net income as the Bank's directors deem appropriate, subject to the limitation that the total of all dividends declared by the Bank in any calendar year may not exceed the total of its net income of that year combined with its retained net income of the preceding two years and subject to minimum regulatory capital requirements. The amount available for dividends in 2015 will be 2015 earnings plus retained earnings of $12,326,000 from 2014 and 2013. The payment of dividends by the Company is also affected by various regulatory requirements and policies, such as the requirements to maintain adequate capital. In addition, if, in the opinion of the applicable regulatory authority, a bank under its jurisdiction is engaged in or is about to engage in an unsafe or unsound practice (which, depending on the financial condition of the bank, could include the payment of dividends), that authority may require, after notice and hearing, that such bank cease and desist from that practice. The Federal Reserve Bank and the Comptroller of the Currency have each indicated that paying dividends that deplete a bank's capital base to an inadequate level would be an unsafe and unsound banking practice. The Federal Reserve Bank, the Comptroller and the Federal Deposit Insurance Corporation have issued policy statements which provide that bank holding companies and insured banks should generally only pay dividends out of current operating earnings. In addition to the effect on the payment of dividends, failure to meet minimum capital requirements can also result in mandatory and discretionary actions by regulators that, if undertaken, could have an impact on the Company's operations. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measurements of the Bank's assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Bank's capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios set forth in the table below of Tier 1 capital and Tier 2 or total capital to risk-weighted assets and of Tier 1 capital to average assets. Management believes, as of December 31, 2014, that the Bank meets all capital adequacy requirements to which it is subject. As of December 31, 2014, the most recent notification from the Office of the Comptroller of the Currency classified the Bank as well-capitalized under the regulatory framework for prompt corrective action. To be categorized as well-capitalized, the Bank must maintain minimum total risk-based, Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the table. There are no conditions or events since this notification that Management believes have changed the institution's category. The actual and minimum capital amounts and ratios for the Bank are presented in the following table:
| Actual |  | For capital adequacy purposes |  | To be well-capitalized under prompt corrective action provisions
As of December 31, 2014 |  |  |  |  |
Tier 2 capital to | $ | 137,818,000 |  |  | $ | 68,524,000 |  |  | $ | 85,655,000 |
risk-weighted assets | 16.09 | % |  | 8.00 | % |  | 10.00 | %
Tier 1 capital to | $ | 127,374,000 |  |  | $ | 34,262,000 |  |  | $ | 51,393,000 |
risk-weighted assets | 14.87 | % |  | 4.00 | % |  | 6.00 | %
Tier 1 capital to | $ | 127,374,000 |  |  | $ | 58,086,000 |  |  | $ | 72,607,000 |
average assets | 8.77 | % |  | 4.00 | % |  | 5.00 | %
As of December 31, 2013 |  |  |  |  |  |  |  |
Tier 2 capital to | $ | 131,146,000 |  |  | $ | 65,996,000 |  |  | $ | 82,495,000 |
risk-weighted assets | 15.90 | % |  | 8.00 | % |  | 10.00 | %
Tier 1 capital to | $ | 120,819,000 |  |  | $ | 32,998,000 |  |  | $ | 49,497,000 |
risk-weighted assets | 14.65 | % |  | 4.00 | % |  | 6.00 | %
Tier 1 capital to | $ | 120,819,000 |  |  | $ | 57,203,000 |  |  | $ | 71,504,000 |
average assets | 8.45 | % |  | 4.00 | % |  | 5.00 | %
The actual and minimum capital amounts and ratios for the Company, on a consolidated basis, are presented in the following table:
| Actual |  | For capital adequacy purposes |  | To be well-capitalized under prompt corrective action provisions
As of December 31, 2014 |  |  |  |  |
Tier 2 capital to | $ | 139,414,000 |  |  | $ | 68,532,000 |  |  | n/a
risk-weighted assets | 16.27 | % |  | 8.00 | % |  | n/a
Tier 1 capital to | $ | 128,970,000 |  |  | $ | 34,266,000 |  |  | n/a
risk-weighted assets | 15.06 | % |  | 4.00 | % |  | n/a
Tier 1 capital to | $ | 128,970,000 |  |  | $ | 58,066,000 |  |  | n/a
average assets | 8.88 | % |  | 4.00 | % |  | n/a
As of December 31, 2013 |  |  |  |  |
Tier 2 capital to | $ | 132,294,000 |  |  | $ | 66,005,000 |  |  | n/a
risk-weighted assets | 16.03 | % |  | 8.00 | % |  | n/a
Tier 1 capital to | $ | 121,967,000 |  |  | $ | 33,002,000 |  |  | n/a
risk-weighted assets | 14.78 | % |  | 4.00 | % |  | n/a
Tier 1 capital to | $ | 121,967,000 |  |  | $ | 56,280,000 |  |  | n/a
average assets | 8.67 | % |  | 4.00 | % |  | n/a

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- Definition The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958570-112826 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958568-112826 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958573-112826 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958574-112826 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958575-112826 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958569-112826 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=7881181&loc=d3e65071-112826 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958577-112826 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958572-112826 + Details
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