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REGULATORY MATTERS (Tables) | 12 Months Ended
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Dec. 31, 2020
REGULATORY MATTERS [Abstract] |
Capital Ratios under Banking Regulations | As permitted by applicable federal regulation, the Bank has opted to use the community bank leverage ratio (the “CBLR”) framework for determining its capital adequacy. Under the CBLR framework a qualifying community bank is considered well-capitalized if its leverage ratio (Tier 1 capital divided by average total consolidated assets) exceeds 9%. Following the passage of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act in response to the COVID-19 pandemic, the federal banking regulators revised the CBLR framework as follows: (i) beginning in the second quarter of 2020, a qualifying community bank need only have a leverage ratio of at least 8%, subject to the other qualifying requirements, and (ii) if a qualifying community bank’s leverage ratio falls below 8%, then it will have two calendar quarters to maintain a leverage ratio of 7% or greater. These revisions under the CARES Act are effective April 23, 2020 and will terminate upon the earlier of the termination of the national emergency related to COVID-19 or December 31, 2020. Following such termination there is a grace period for returning to the 9% CBLR threshold. The CBLR will be set at 8% for the remainder of 2020, 8.5% for 2021, and 9% thereafter. The grace period is also adjusted to account for the graduating increase. As a result, in 2020 and 2021, a qualifying community bank utilizing the grace period must maintain a CBLR of at least 7% and 7.5%, respectively. Thereafter, a qualifying community bank utilizing the grace period must maintain a CBLR of at least 8%. If a qualifying community bank fails to maintain the applicable minimum CBLR during the grace period, or if it is unable to restore compliance with the CBLR within the grace period, then it will revert to the Basel III capital framework and the normal Prompt Corrective Action capital categories will apply. At December 31, 2020, the Bank was considered “well-capitalized” under the CBLR framework, with a leverage ratio of 8.75%. The Bank’s computed risk‑based capital ratios are as follows as of December 31, 2019 (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 | %

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- Definition Tabular disclosure of the capital amounts and ratios as of the balance sheet date, indicating whether the entity or entities are in compliance with regulatory capital requirements, by entity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -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 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 + Details
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