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REGULATORY MATTERS | 12 Months Ended
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Dec. 31, 2019
REGULATORY MATTERS [Abstract] |
REGULATORY MATTERS | 15. REGULATORY MATTERS Dividend Restrictions: The approval of the Federal Reserve Board (FRB) is required for the Bank to pay dividends to the Company if the total of all dividends declared in any calendar year exceeds the Bank’s net income (as defined) for that year combined with its retained net income for the preceding two calendar years. Under this formula, the Bank can declare dividends in 2020 without approval of the FRB or Pennsylvania Department of Banking of approximately $21,331,000, plus the Bank’s 2020 year-to-date net income at the time of the dividend declaration. Loans: The Bank is subject to regulatory restrictions which limit its ability to loan funds to the Company. At December 31, 2019, the Bank’s regulatory lending limit amounted to approximately $23,206,000. Regulatory Capital Requirements: Federal regulations require the Bank to maintain minimum amounts of capital. Specifically, the Bank is required to maintain certain minimum dollar amounts and ratios of Total, Tier I and Common Equity Tier I capital to risk-weighted assets and of Tier I capital to average total assets. In addition to the capital requirements, the Federal Deposit Insurance Corporation Improvement Act (FDICIA) established five capital categories ranging from “well capitalized” to “critically under-capitalized.” Should any institution fail to meet the requirements to be considered “adequately capitalized”, it would become subject to a series of increasingly restrictive regulatory actions. As of December 31, 2019 and 2018, the FRB categorized the Bank as well capitalized, under the regulatory framework for prompt corrective action. To be categorized as a well capitalized financial institution, Total risk-based, Tier I risk-based, Common Equity Tier I risk based and Tier I leverage capital ratios must be at least 10%, 8%, 6.5% and 5%, respectively. The Bank’s computed risk‑based capital ratios are as follows as of December 31, 2019 and 2018 (dollars in thousands):
|  | Actual |  |  | For Capital Adequacy Purposes |  |  | To Be Well Capitalized Under Prompt Corrective Action Provisions |
2019 |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
Total Capital (to Risk Weighted Assets): |
Company |  | $ | 154,708 |  |  |  | 14.04 | % |  | $ | 88,166 |  |  |  | 8.00 | % |  | $ | 110,208 |  |  |  | 10.00 | %
Bank |  | $ | 146,925 |  |  |  | 13.34 | % |  | $ | 88,102 |  |  |  | 8.00 | % |  | $ | 110,128 |  |  |  | 10.00 | %
Tier 1 Capital (to Risk Weighted Assets): |
Company |  | $ | 140,929 |  |  |  | 12.79 | % |  | $ | 66,125 |  |  |  | 6.00 | % |  | $ | 88,166 |  |  |  | 8.00 | %
Bank |  | $ | 133,156 |  |  |  | 12.09 | % |  | $ | 66,077 |  |  |  | 6.00 | % |  | $ | 88,102 |  |  |  | 8.00 | %
Common Equity Tier 1 Capital (to Risk Weighted Assets): |
Company |  | $ | 133,429 |  |  |  | 12.11 | % |  | $ | 49,593 |  |  |  | 4.50 | % |  | $ | 71,635 |  |  |  | 6.50 | %
Bank |  | $ | 133,156 |  |  |  | 12.09 | % |  | $ | 49,557 |  |  |  | 4.50 | % |  | $ | 71,583 |  |  |  | 6.50 | %
Tier 1 Capital (to Average Assets): |
Company |  | $ | 140,929 |  |  |  | 9.77 | % |  | $ | 57,705 |  |  |  | 4.00 | % |  | $ | 72,132 |  |  |  | 5.00 | %
Bank |  | $ | 133,156 |  |  |  | 9.23 | % |  | $ | 57,681 |  |  |  | 4.00 | % |  | $ | 72,101 |  |  |  | 5.00 | %
|  | Actual |  |  | For Capital Adequacy Purposes |  |  | To Be Well Capitalized Under Prompt Corrective Action Provisions |
2018 |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
Total Capital (to Risk Weighted Assets): |
Company |  | $ | 141,272 |  |  |  | 13.42 | % |  | $ | 84,227 |  |  |  | 8.00 | % |  | $ | 105,284 |  |  |  | 10.00 | %
Bank |  | $ | 134,841 |  |  |  | 12.82 | % |  | $ | 84,141 |  |  |  | 8.00 | % |  | $ | 105,176 |  |  |  | 10.00 | %
Tier 1 Capital (to Risk Weighted Assets): |
Company |  | $ | 128,224 |  |  |  | 12.18 | % |  | $ | 63,171 |  |  |  | 6.00 | % |  | $ | 84,227 |  |  |  | 8.00 | %
Bank |  | $ | 121,792 |  |  |  | 11.58 | % |  | $ | 63,106 |  |  |  | 6.00 | % |  | $ | 84,141 |  |  |  | 8.00 | %
Common Equity Tier 1 Capital (to Risk Weighted Assets): |
Company |  | $ | 120,724 |  |  |  | 11.47 | % |  | $ | 47,378 |  |  |  | 4.50 | % |  | $ | 68,435 |  |  |  | 6.50 | %
Bank |  | $ | 121,792 |  |  |  | 11.58 | % |  | $ | 47,329 |  |  |  | 4.50 | % |  | $ | 68,364 |  |  |  | 6.50 | %
Tier 1 Capital (to Average Assets): |
Company |  | $ | 128,224 |  |  |  | 9.15 | % |  | $ | 56,041 |  |  |  | 4.00 | % |  | $ | 70,051 |  |  |  | 5.00 | %
Bank |  | $ | 121,792 |  |  |  | 8.70 | % |  | $ | 56,018 |  |  |  | 4.00 | % |  | $ | 70,023 |  |  |  | 5.00 | %
This annual report has not been reviewed, or confirmed for accuracy or relevance, by the Federal Deposit Insurance Corporation.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958572-112826 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958573-112826 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958570-112826 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958569-112826 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958577-112826 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958575-112826 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958574-112826 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=117337116&loc=d3e65071-112826 + Details
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