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Regulatory Requirements and Restrictions | 12 Months Ended
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Dec. 31, 2022
Regulatory Requirements and Restrictions |
Regulatory Requirements and Restrictions | NOTE 17: Regulatory Requirements and Restrictions ​ The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on the Corporation’s and the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Federal banking regulations also impose regulatory capital requirements on bank holding companies. Under the small bank holding company policy statement of the FRB, which applies to certain bank holding companies with consolidated total assets of less than $3 billion, the Corporation is not subject to regulatory capital requirements. ​ As of December 31, 2022, the most recent notification from the FDIC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized under regulations applicable at December 31, 2022, the Bank was required to maintain minimum total risk-based, Tier 1 risk-based, CET1 risk-based and Tier 1 leverage ratios as set forth in the tables below. The total capital ratio, Tier 1 capital ratio and CET1 ratio are calculated as a percentage of risk-weighted assets. The Tier 1 leverage ratio is calculated as a percentage of average tangible assets. ​ The Corporation’s and the Bank’s actual capital amounts and ratios as of December 31, 2022 and 2021 are presented in the following tables along with regulatory requirements for the Bank and requirements that apply to bank holding companies that are subject to regulatory capital requirements for bank holding companies. The Corporation’s consolidated capital is determined under regulations that apply to bank holding companies that are not small bank holding companies. Although the minimum regulatory capital requirements are not applicable to the Corporation, the Corporation calculates these ratios for its own planning and monitoring purposes. Total risk-weighted assets at December 31, 2022 for the Corporation were $1.82 billion and for the Bank were $1.80 billion. Total risk-weighted assets at December 31, 2021 for the Corporation were $1.64 billion and for the Bank were $1.61 billion. Management believes that, as of December 31, 2022, the Bank met all capital adequacy requirements to which it is subject. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Minimum Capital | ​ | Well Capitalized | ​
​ | ​ | Actual | ​ | Requirements | ​ | Requirements | ​
(Dollars in thousands) |  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio |
The Corporation | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total risk-based capital ratio | ​ | $ | 280,606 | ​ | 15.4 | % | $ | 145,958 | ​ | 8.0 | % | $ | N/A | ​ | N/A | %
Tier 1 risk-based capital ratio | ​ | ​ | 233,581 | ​ | 12.8 | ​ | ​ | 109,468 | ​ | 6.0 | ​ | ​ | N/A | ​ | N/A | ​
Common Equity Tier 1 capital ratio | ​ | ​ | 208,581 | ​ | 11.4 | ​ | ​ | 82,101 | ​ | 4.5 | ​ | ​ | N/A | ​ | N/A | ​
Tier 1 leverage ratio | ​ | ​ | 233,581 | ​ | 9.9 | ​ | ​ | 94,562 | ​ | 4.0 | ​ | ​ | N/A | ​ | N/A | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
The Bank | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total risk-based capital ratio | ​ | $ | 255,719 | ​ | 14.2 | % | $ | 144,074 | ​ | 8.0 | % | $ | 180,093 | ​ | 10.0 | %
Tier 1 risk-based capital ratio | ​ | ​ | 232,985 | ​ | 12.9 | ​ | ​ | 108,056 | ​ | 6.0 | ​ | ​ | 144,074 | ​ | 8.0 | ​
Common Equity Tier 1 capital ratio | ​ | ​ | 232,985 | ​ | 12.9 | ​ | ​ | 81,042 | ​ | 4.5 | ​ | ​ | 117,060 | ​ | 6.5 | ​
Tier 1 leverage ratio | ​ | ​ | 232,985 | ​ | 9.9 | ​ | ​ | 93,856 | ​ | 4.0 | ​ | ​ | 117,320 | ​ | 5.0 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Minimum Capital | ​ | Well Capitalized | ​
​ | ​ | Actual | ​ | Requirements | ​ | Requirements | ​
(Dollars in thousands) | ​ | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio | ​
The Corporation | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total risk-based capital ratio | ​ | $ | 257,779 | ​ | 15.8 | % | $ | 130,817 | ​ | 8.0 | % | $ | N/A | ​ | N/A | %
Tier 1 risk-based capital ratio | ​ | ​ | 213,095 | ​ | 13.0 | ​ | ​ | 98,113 | ​ | 6.0 | ​ | ​ | N/A | ​ | N/A | ​
Common Equity Tier 1 capital ratio | ​ | ​ | 188,095 | ​ | 11.5 | ​ | ​ | 73,585 | ​ | 4.5 | ​ | ​ | N/A | ​ | N/A | ​
Tier 1 leverage ratio | ​ | ​ | 213,095 | ​ | 9.7 | ​ | ​ | 88,121 | ​ | 4.0 | ​ | ​ | N/A | ​ | N/A | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
The Bank | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total risk-based capital ratio | ​ | $ | 233,780 | ​ | 14.5 | % | $ | 128,701 | ​ | 8.0 | % | $ | 160,876 | ​ | 10.0 | %
Tier 1 risk-based capital ratio | ​ | ​ | 213,423 | ​ | 13.3 | ​ | ​ | 96,526 | ​ | 6.0 | ​ | ​ | 128,701 | ​ | 8.0 | ​
Common Equity Tier 1 capital ratio | ​ | ​ | 213,423 | ​ | 13.3 | ​ | ​ | 72,394 | ​ | 4.5 | ​ | ​ | 104,569 | ​ | 6.5 | ​
Tier 1 leverage ratio | ​ | ​ | 213,423 | ​ | 9.8 | ​ | ​ | 87,184 | ​ | 4.0 | ​ | ​ | 108,980 | ​ | 5.0 | ​
​ The Basel III rules established a “capital conservation buffer” of additional capital of 2.5 percent above the regulatory minimum risk-based capital ratios, which is not included in the tables above. Including the capital conservation buffer, the minimum ratios are a common equity Tier I risk-based capital ratio of 7.0 percent, a Tier I risk-based capital ratio of 8.5 percent and a total risk-based capital ratio of 10.5 percent. The Corporation and the Bank exceeded these ratios at December 31, 2022 and 2021. ​ Between 2003 and 2007, the Corporation’s statutory business trusts issued $25.00 million of aggregate trust preferred securities. Based on the Corporation’s Tier 1 capital levels, the entire $25.00 million of trust preferred securities was included in the Corporation’s Tier 1 capital as of December 31, 2022 and 2021. The Corporation’s 2028 Subordinated Notes, assumed upon the acquisition of Peoples in 2020, and the Corporation’s 2030 Subordinated Notes, issued in 2020, each qualify for inclusion in Tier 2 capital of the Corporation. In each case, the amount included in regulatory capital with respect to trust preferred securities or subordinated notes may be reduced as those instruments near maturity. ​ Federal and state banking regulations place certain restrictions on dividends paid and loans or advances made by C&F Bank to the Corporation. The total amount of dividends that may be paid at any date by C&F Bank is generally limited to the retained earnings of C&F Bank, while other measures of capital adequacy may also restrict the Bank’s ability to declare dividends.

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958575-112826 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)(2) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958569-112826 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(2) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(1) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI https://asc.fasb.org/extlink&oid=117337116&loc=SL5958573-112826 + Details
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