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Note 11 - Regulatory Matters | 3 Months Ended
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Mar. 31, 2021
Notes to Financial Statements |
Regulatory Capital Requirements under Banking Regulations [Text Block] |
11. | Regulatory Matters
On March 31, 2020, the Banks qualified for and elected to use the community bank leverage ratio (CBLR) framework. In order to qualify for the CBLR framework, a community banking organization must have a tier 1 leverage ratio of greater than 8%, less than $10 billion in total consolidated assets, and limited amounts of off-balance-sheet exposures and trading assets and liabilities. On January 1, 2021 the CBLR increased to 8.5% for the calendar year and will again increase to 9% beginning January 1, 2022. A qualifying community banking organization that opts into the CBLR framework and meets all requirements under the framework will be considered to have met the well-capitalized ratio requirements under the Prompt Corrective Action regulations and will not be required to report or calculate risk-based capital. If an electing banking organization fails to satisfy one or more of the qualifying criteria but maintains a leverage ratio of greater than 8%, that banking organization would have a “grace period” of up to two quarters during which it could continue to use the community bank leverage ratio framework and be deemed to meet the “well capitalized” capital ratio requirements. As long as the banking organization is able to return to compliance with all the qualifying criteria within two quarters, it continues to be deemed to meet the “well capitalized” ratio requirements and be in compliance with the generally applicable capital rule. State Bank & Trust was below 8.5% but greater than 8% as of March 31, 2021 and has a grace period of two quarters to return to compliance with all qualifying criteria of the CBLR. The Company and the Banks’ capital amounts and ratios as of March 31, 2021 and December 31, 2020 are as follows (dollars in thousands):
|  |  |  |  |  |  |  |  |  | To Be Well |
|  |  |  |  |  |  |  |  |  | Capitalized Under |
|  |  |  |  |  |  |  |  |  | Prompt Corrective |
|  | Actual |  |  | Action Provisions |
|  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
As of March 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Community Bank Leverage Ratio: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Tier 1 capital to average assets for leverage ratio): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Boone Bank & Trust |  | $ | 14,162 |  |  |  | 9.4 | % |  | $ | 12,790 |  |  |  | 8.5 | %
First National Bank |  |  | 88,178 |  |  |  | 8.5 |  |  |  | 88,123 |  |  |  | 8.5 |
Iowa State Savings Bank |  |  | 21,947 |  |  |  | 9.3 |  |  |  | 20,057 |  |  |  | 8.5 |
Reliance State Bank |  |  | 23,671 |  |  |  | 9.1 |  |  |  | 22,015 |  |  |  | 8.5 |
State Bank & Trust |  |  | 17,292 |  |  |  | 8.4 |  |  |  | 17,485 |  |  |  | 8.5 |
United Bank & Trust |  |  | 10,727 |  |  |  | 9.1 |  |  |  | 9,972 |  |  |  | 8.5 |
|  |  |  |  |  |  |  |  |  | To Be Well |
|  |  |  |  |  |  |  |  |  | Capitalized Under |
|  |  |  |  |  |  |  |  |  | Prompt Corrective |
|  | Actual |  |  | Action Provisions |
|  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
As of December 31, 2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Community Bank Leverage Ratio: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Tier 1 capital to average assets for leverage ratio): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Boone Bank & Trust |  | $ | 13,967 |  |  |  | 9.2 | % |  | $ | 12,170 |  |  |  | 8.0 | %
First National Bank |  |  | 86,071 |  |  |  | 8.6 |  |  |  | 80,393 |  |  |  | 8.0 |
Iowa State Savings Bank |  |  | 21,610 |  |  |  | 9.4 |  |  |  | 18,321 |  |  |  | 8.0 |
Reliance State Bank |  |  | 23,278 |  |  |  | 9.4 |  |  |  | 19,741 |  |  |  | 8.0 |
State Bank & Trust |  |  | 16,564 |  |  |  | 8.5 |  |  |  | 15,657 |  |  |  | 8.0 |
United Bank & Trust |  |  | 10,539 |  |  |  | 9.2 |  |  |  | 9,180 |  |  |  | 8.0 |

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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 http://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 http://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 http://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 http://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 http://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 http://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 http://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 http://asc.fasb.org/extlink&oid=117337116&loc=SL5958573-112826 + Details
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