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Capital Requirements

6 Months Ended

Jun. 30, 2011

Capital Requirements

Capital Requirements

Note 6. Capital Requirements

A comparison of the capital of the Company and the Bank at June 30, 2011 and December 31, 2010 with the minimum regulatory guidelines were as follows:

																		Minimum
										(dollars in thousands)								To Be Well
																		Capitalized Under
										Minimum Capital								Prompt Corrective
		Actual								Requirement								Action Provisions
		Amount				Ratio				Amount				Ratio				Amount				Ratio
June 30, 2011:
Total Capital (to Risk Weighted Assets):
Consolidated		$	61,295				14.33	%		$	34,218				8.00	%			N/A				N/A
First Bank		$	60,672				14.20	%		$	34,180				8.00	%		$	42,725				10.00	%
Tier 1 Capital (to Risk Weighted Assets):
Consolidated		$	55,844				13.06	%		$	17,109				4.00	%			N/A				N/A
First Bank		$	55,227				12.93	%		$	17,090				4.00	%		$	25,635				6.00	%
Tier 1 Capital (to Average Assets):
Consolidated		$	55,844				10.18	%		$	21,935				4.00	%			N/A				N/A
First Bank		$	55,227				10.07	%		$	21,936				4.00	%		$	27,420				5.00	%
December 31, 2010:
Total Capital (to Risk Weighted Assets):
Consolidated		$	63,163				14.18	%		$	35,624				8.00	%			N/A				N/A
First Bank		$	62,550				14.06	%		$	35,584				8.00	%		$	44,480				10.00	%
Tier 1 Capital (to Risk Weighted Assets):
Consolidated		$	57,467				12.91	%		$	17,812				4.00	%			N/A				N/A
First Bank		$	56,861				12.78	%		$	17,792				4.00	%		$	26,688				6.00	%
Tier 1 Capital (to Average Assets):
Consolidated		$	57,467				10.54	%		$	21,810				4.00	%			N/A				N/A
First Bank		$	56,861				10.40	%		$	21,859				4.00	%		$	27,324				5.00	%

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The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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-Publisher AICPA
-Name Audit and Accounting Guide (AAG)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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