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Capital Requirements
 12 Months Ended
Dec. 31, 2013
Capital Requirements  
Capital Requirements

(15)              Capital Requirements

 

The Company and the Bank are subject to various regulatory capital requirements administered by federal and state 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 Company’s consolidated financial statements. Under capital adequacy guidelines, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification of the Company and the Bank are subject to qualitative judgments by the regulators about components, risk-weightings, and other factors.

 

Quantitative measures established by regulations to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the following table) of total and Tier I capital to risk-weighted assets, and of Tier I capital to adjusted-average assets. Management believes, as of December 31, 2013 and 2012, the Company and the Bank met all capital adequacy requirements.

 

As of December 31, 2013, the most recent notification from the regulatory authorities categorized 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 I risk-based, and Tier I leverage ratios as set forth in the table. There are no conditions or events since the notification that management believes have changed the Bank’s categories.

 

 

 

 

 

 

 

Minimum

 

Well-Capitalized

 

 

 

Actual

 

Capital Requirements

 

Capital Requirements

 

(in thousands)

 

Amount

 

Ratio

 

Amount

 

Ratio

 

Amount

 

Ratio

 

December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capital (to risk-weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

$

133,638

 

15.33

%

$

69,728

 

8.00

%

N.A.

 

N.A.

%

Bank

 

122,959

 

14.29

 

68,842

 

8.00

 

$

0

 

10.00

 

Tier I capital (to risk-weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

$

99,398

 

11.40

%

$

34,864

 

4.00

%

N.A.

 

N.A.

%

Bank

 

112,166

 

13.03

 

34,421

 

4.00

 

$

0

 

6.00

 

Tier I capital (to adjusted average assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

$

99,398

 

8.80

%

$

33,876

 

3.00

%

$

N.A.

 

N.A.

%

Bank

 

112,166

 

10.04

 

33,517

 

3.00

 

0

 

5.00

 

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capital (to risk-weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

$

148,889

 

16.83

%

$

70,759

 

8.00

%

N.A.

 

N.A.

%

Bank

 

131,126

 

15.12

 

69,375

 

8.00

 

$

86,715

 

10.00

 

Tier I capital (to risk-weighted assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

$

120,138

 

13.58

%

$

35,380

 

4.00

%

N.A.

 

N.A.

%

Bank

 

120,243

 

13.87

 

34,686

 

4.00

 

$

52,029

 

6.00

 

Tier I capital (to adjusted average assets):

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

$

120,138

 

10.37

%

$

34,762

 

3.00

%

$

N.A.

 

N.A.

%

Bank

 

120,243

 

10.60

 

34,037

 

3.00

 

56,729

 

5.00