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Capital Requirements | 9 Months Ended
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Sep. 30, 2013
Banking And Thrift [Abstract] |
Capital Requirements |
Note 7. | Capital Requirements
A comparison of the capital of the Company and the Bank at September 30, 2013 and December 31, 2012 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 |
September 30, 2013: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital (to Risk Weighted Assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 61,565 |  |  |  | 16.57 | % |  | $ | 29,732 |  |  |  | 8.00 | % |  |  | N/A |  |  |  | N/A |
First Bank |  | $ | 55,397 |  |  |  | 14.92 | % |  | $ | 29,695 |  |  |  | 8.00 | % |  | $ | 37,118 |  |  |  | 10.00 | %
Tier 1 Capital (to Risk Weighted Assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 56,830 |  |  |  | 15.29 | % |  | $ | 14,866 |  |  |  | 4.00 | % |  |  | N/A |  |  |  | N/A |
First Bank |  | $ | 50,668 |  |  |  | 13.65 | % |  | $ | 14,847 |  |  |  | 4.00 | % |  | $ | 22,271 |  |  |  | 6.00 | %
Tier 1 Capital (to Average Assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 56,830 |  |  |  | 10.61 | % |  | $ | 21,431 |  |  |  | 4.00 | % |  |  | N/A |  |  |  | N/A |
First Bank |  | $ | 50,668 |  |  |  | 9.46 | % |  | $ | 21,415 |  |  |  | 4.00 | % |  | $ | 26,769 |  |  |  | 5.00 | %
December 31, 2012: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital (to Risk Weighted Assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 59,876 |  |  |  | 15.34 | % |  | $ | 31,220 |  |  |  | 8.00 | % |  |  | N/A |  |  |  | N/A |
First Bank |  | $ | 52,980 |  |  |  | 13.59 | % |  | $ | 31,197 |  |  |  | 8.00 | % |  | $ | 38,996 |  |  |  | 10.00 | %
Tier 1 Capital (to Risk Weighted Assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 54,897 |  |  |  | 14.07 | % |  | $ | 15,610 |  |  |  | 4.00 | % |  |  | N/A |  |  |  | N/A |
First Bank |  | $ | 48,004 |  |  |  | 12.31 | % |  | $ | 15,599 |  |  |  | 4.00 | % |  | $ | 23,398 |  |  |  | 6.00 | %
Tier 1 Capital (to Average Assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 54,897 |  |  |  | 10.47 | % |  | $ | 20,971 |  |  |  | 4.00 | % |  |  | N/A |  |  |  | N/A |
First Bank |  | $ | 48,004 |  |  |  | 9.15 | % |  | $ | 20,974 |  |  |  | 4.00 | % |  | $ | 26,218 |  |  |  | 5.00 | %
On June 29, 2012, the Company completed the sale of 1,945,815 shares of common stock in a rights offering and to certain standby investors. The Company’s existing shareholders exercised subscription rights to purchase 1,520,815 shares at a subscription price of $4.00 per share, and the standby investors purchased an additional 425,000 shares at the same price of $4.00 per share. In total, the Company raised net proceeds of $7.6 million.

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- Definition 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958570-112826 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958568-112826 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958573-112826 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958574-112826 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958575-112826 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958569-112826 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=7881181&loc=d3e65071-112826 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958577-112826 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958572-112826 + Details
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