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Regulatory Capital Matters | 6 Months Ended
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Jun. 30, 2024
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract] |
Regulatory Capital Matters | Regulatory Capital Matters The Bank is subject to certain risk-based capital and leverage ratio requirements under the U.S. Basel III capital rules administered by the federal and state banking agencies. Failure to be well-capitalized or to meet minimum capital requirements could result in certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have an adverse material effect on the Company's operations or financial condition. The Basel III capital rules also require the Bank to maintain a capital conservation buffer of 2.50% above the minimum risk-based capital ratios in order to absorb losses during periods of economic stress, effective January 1, 2019. Banking institutions with a ratio of common equity tier 1 capital to risk-weighted assets above the minimum but below the capital conservation buffer will face constraints on dividends. equity repurchases and compensation based on the amount of the shortfall. Management believes that as of June 30, 2024 and December 31, 2023, the Bank met all capital adequacy requirements to which they are subject to. Based on recent changes to the Federal Reserve’s definition of a “Small Bank Holding Company” that increased the threshold to $3 billion in assets, the Company is not currently subject to separate minimum capital measurements. At such time as the Company reaches the $3 billion asset level, it will again be subject to capital measurements independent of the Bank. The following table presents the regulatory capital amounts and ratios for the Company and the Bank as of dates indicated:
|  | June 30, 2024
|  | Actual(1) |  | Required for Capital Adequacy Purposes |  | Minimum To be Considered "Well Capitalized"
($ in thousands) |  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Total capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 235,538 |  |  | 13.26 | % |  | N/A |  | N/A |  | N/A |  | N/A
Bank |  | 235,239 |  |  | 13.24 |  |  | $ | 142,129 |  |  | 8.00 | % |  | $ | 177,661 |  |  | 10.00 | %
Tier 1 capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | 213,328 |  |  | 12.01 |  |  | N/A |  | N/A |  | N/A |  | N/A
Bank |  | 213,031 |  |  | 11.99 |  |  | 106,597 |  |  | 6.00 |  |  | 142,129 |  |  | 8.00 |
Common equity Tier 1 capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | 213,328 |  |  | 12.01 |  |  | N/A |  | N/A |  | N/A |  | N/A
Bank |  | 213,031 |  |  | 11.99 |  |  | 79,947 |  |  | 4.50 |  |  | 115,480 |  |  | 6.50 |
Tier 1 capital (to average assets) |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | 213,328 |  |  | 9.28 |  |  | N/A |  | N/A |  | N/A |  | N/A
Bank |  | 213,031 |  |  | 9.27 |  |  | 91,957 |  |  | 4.00 |  |  | 114,946 |  |  | 5.00 |
(1)The capital requirements are only applicable to the Bank, and the Company's ratios are included for comparison purpose.
|  | December 31, 2023
|  | Actual(1) |  | Required for Capital Adequacy Purposes |  | Minimum To be Considered "Well Capitalized"
($ in thousands) |  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Total capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 229,544 |  |  | 13.77 | % |  | N/A |  | N/A |  | N/A |  | N/A
Bank |  | 227,773 |  |  | 13.66 |  |  | $ | 133,353 |  |  | 8.00 | % |  | $ | 166,691 |  |  | 10.00 | %
Tier 1 capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | 208,707 |  |  | 12.52 |  |  | N/A |  | N/A |  | N/A |  | N/A
Bank |  | 206,936 |  |  | 12.41 |  |  | 100,014 |  |  | 6.00 |  |  | 133,353 |  |  | 8.00 |
Common equity Tier 1 capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | 208,707 |  |  | 12.52 |  |  | N/A |  | N/A |  | N/A |  | N/A
Bank |  | 206,936 |  |  | 12.41 |  |  | 75,011 |  |  | 4.50 |  |  | 108,349 |  |  | 6.50 |
Tier 1 capital (to average assets) |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | 208,707 |  |  | 9.57 |  |  | N/A |  | N/A |  | N/A |  | N/A
Bank |  | 206,936 |  |  | 9.49 |  |  | 87,207 |  |  | 4.00 |  |  | 109,008 |  |  | 5.00 |
(1)The capital requirements are only applicable to the Bank, and the Company's ratios are included for comparison purpose.

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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 -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1D -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1D Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Publisher FASB -URI https://asc.fasb.org/1943274/2147477270/942-505-50-1F + Details
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