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Note 13 - Regulatory Matters | 3 Months Ended
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Mar. 31, 2022
Notes to Financial Statements |
Regulatory Capital Requirements under Banking Regulations [Text Block] |
13. | Regulatory Matters
The Company and the Banks are subject to various regulatory capital requirements administered by federal and state banking agencies. Failure to meet minimum capital requirements (as shown in the following table) can result in certain mandatory and possibly additional discretionary actions by regulators, which, if undertaken, could have a direct material effect on the Company's consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Banks must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Company's and the Banks' capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Management believed the Company and the Banks met all capital adequacy requirements to which they were subject as of March 31, 2022. The Company and the Banks’ capital amounts and ratios as of March 31, 2022 and December 31, 2021 are as follows (dollars in thousands):
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | To Be Well |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Capitalized Under |
|  |  |  |  |  |  |  |  |  | For Capital |  |  | Prompt Corrective |
|  | Actual |  |  | Adequacy Purposes |  |  | Action Provisions |
|  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
As of March 31, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk-weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 211,219 |  |  |  | 14.9 | % |  | $ | 148,534 |  |  |  | 10.50 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 15,704 |  |  |  | 13.5 |  |  |  | 12,251 |  |  |  | 10.50 |  |  |  | 11,668 |  |  |  | 10.0 | %
First National Bank |  |  | 106,493 |  |  |  | 14.5 |  |  |  | 77,007 |  |  |  | 10.50 |  |  |  | 73,340 |  |  |  | 10.0 |
Iowa State Savings Bank |  |  | 24,309 |  |  |  | 15.9 |  |  |  | 16,043 |  |  |  | 10.50 |  |  |  | 15,280 |  |  |  | 10.0 |
Reliance State Bank |  |  | 27,424 |  |  |  | 15.0 |  |  |  | 19,235 |  |  |  | 10.50 |  |  |  | 18,319 |  |  |  | 10.0 |
State Bank & Trust |  |  | 21,243 |  |  |  | 14.8 |  |  |  | 15,114 |  |  |  | 10.50 |  |  |  | 14,395 |  |  |  | 10.0 |
United Bank & Trust |  |  | 12,137 |  |  |  | 15.3 |  |  |  | 8,328 |  |  |  | 10.50 |  |  |  | 7,931 |  |  |  | 10.0 |
Tier 1 capital (to risk-weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 194,024 |  |  |  | 13.7 | % |  | $ | 120,242 |  |  |  | 8.50 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 14,778 |  |  |  | 12.7 |  |  |  | 9,917 |  |  |  | 8.50 |  |  |  | 9,334 |  |  |  | 8.0 | %
First National Bank |  |  | 97,319 |  |  |  | 13.3 |  |  |  | 62,339 |  |  |  | 8.50 |  |  |  | 58,672 |  |  |  | 8.0 |
Iowa State Savings Bank |  |  | 23,048 |  |  |  | 15.1 |  |  |  | 12,988 |  |  |  | 8.50 |  |  |  | 12,224 |  |  |  | 8.0 |
Reliance State Bank |  |  | 25,131 |  |  |  | 13.7 |  |  |  | 15,571 |  |  |  | 8.50 |  |  |  | 14,655 |  |  |  | 8.0 |
State Bank & Trust |  |  | 19,590 |  |  |  | 13.6 |  |  |  | 12,235 |  |  |  | 8.50 |  |  |  | 11,516 |  |  |  | 8.0 |
United Bank & Trust |  |  | 11,144 |  |  |  | 14.1 |  |  |  | 6,742 |  |  |  | 8.50 |  |  |  | 6,345 |  |  |  | 8.0 |
Tier 1 capital (to average-assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 194,024 |  |  |  | 9.1 | % |  | $ | 85,639 |  |  |  | 4.00 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 14,778 |  |  |  | 9.0 |  |  |  | 6,538 |  |  |  | 4.00 |  |  |  | 8,172 |  |  |  | 5.0 | %
First National Bank |  |  | 97,319 |  |  |  | 8.9 |  |  |  | 43,893 |  |  |  | 4.00 |  |  |  | 54,866 |  |  |  | 5.0 |
Iowa State Savings Bank |  |  | 23,048 |  |  |  | 9.0 |  |  |  | 10,219 |  |  |  | 4.00 |  |  |  | 12,774 |  |  |  | 5.0 |
Reliance State Bank |  |  | 25,131 |  |  |  | 8.6 |  |  |  | 11,642 |  |  |  | 4.00 |  |  |  | 14,553 |  |  |  | 5.0 |
State Bank & Trust |  |  | 19,590 |  |  |  | 8.9 |  |  |  | 8,812 |  |  |  | 4.00 |  |  |  | 11,016 |  |  |  | 5.0 |
United Bank & Trust |  |  | 11,144 |  |  |  | 8.7 |  |  |  | 5,137 |  |  |  | 4.00 |  |  |  | 6,421 |  |  |  | 5.0 |
Common equity tier 1 capital (to risk-weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 194,024 |  |  |  | 13.7 | % |  | $ | 99,022 |  |  |  | 7.00 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 14,778 |  |  |  | 12.7 |  |  |  | 8,167 |  |  |  | 7.00 |  |  |  | 7,584 |  |  |  | 6.5 | %
First National Bank |  |  | 97,319 |  |  |  | 13.3 |  |  |  | 51,338 |  |  |  | 7.00 |  |  |  | 47,671 |  |  |  | 6.5 |
Iowa State Savings Bank |  |  | 23,048 |  |  |  | 15.1 |  |  |  | 10,696 |  |  |  | 7.00 |  |  |  | 9,932 |  |  |  | 6.5 |
Reliance State Bank |  |  | 25,131 |  |  |  | 13.7 |  |  |  | 12,823 |  |  |  | 7.00 |  |  |  | 11,907 |  |  |  | 6.5 |
State Bank & Trust |  |  | 19,590 |  |  |  | 13.6 |  |  |  | 10,076 |  |  |  | 7.00 |  |  |  | 9,356 |  |  |  | 6.5 |
United Bank & Trust |  |  | 11,144 |  |  |  | 15.1 |  |  |  | 5,552 |  |  |  | 7.00 |  |  |  | 5,155 |  |  |  | 6.5 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | To Be Well |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Capitalized Under |
|  |  |  |  |  |  |  |  |  | For Capital |  |  | Prompt Corrective |
|  | Actual |  |  | Adequacy Purposes |  |  | Action Provisions |
|  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
As of December 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk-weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 208,480 |  |  |  | 14.8 | % |  | $ | 146,881 |  |  |  | 10.50 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 15,603 |  |  |  | 14.2 |  |  |  | 11,562 |  |  |  | 10.50 |  |  |  | 11,012 |  |  |  | 10.0 | %
First National Bank |  |  | 104,608 |  |  |  | 14.5 |  |  |  | 75,832 |  |  |  | 10.50 |  |  |  | 72,221 |  |  |  | 10.0 |
Iowa State Savings Bank |  |  | 24,008 |  |  |  | 15.9 |  |  |  | 15,895 |  |  |  | 10.50 |  |  |  | 15,138 |  |  |  | 10.0 |
Reliance State Bank |  |  | 27,292 |  |  |  | 13.6 |  |  |  | 21,136 |  |  |  | 10.50 |  |  |  | 20,129 |  |  |  | 10.0 |
State Bank & Trust |  |  | 20,885 |  |  |  | 15.2 |  |  |  | 14,416 |  |  |  | 10.50 |  |  |  | 13,730 |  |  |  | 10.0 |
United Bank & Trust |  |  | 12,001 |  |  |  | 15.7 |  |  |  | 8,039 |  |  |  | 10.50 |  |  |  | 7,657 |  |  |  | 10.0 |
Tier 1 capital (to risk-weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 191,161 |  |  |  | 13.7 | % |  | $ | 118,904 |  |  |  | 8.50 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 14,652 |  |  |  | 13.3 |  |  |  | 9,360 |  |  |  | 8.50 |  |  |  | 8,809 |  |  |  | 8.0 | %
First National Bank |  |  | 95,573 |  |  |  | 13.2 |  |  |  | 61,388 |  |  |  | 8.50 |  |  |  | 57,777 |  |  |  | 8.0 |
Iowa State Savings Bank |  |  | 22,747 |  |  |  | 15.0 |  |  |  | 12,868 |  |  |  | 8.50 |  |  |  | 12,111 |  |  |  | 8.0 |
Reliance State Bank |  |  | 24,774 |  |  |  | 12.3 |  |  |  | 17,110 |  |  |  | 8.50 |  |  |  | 16,103 |  |  |  | 8.0 |
State Bank & Trust |  |  | 19,231 |  |  |  | 14.0 |  |  |  | 11,670 |  |  |  | 8.50 |  |  |  | 10,984 |  |  |  | 8.0 |
United Bank & Trust |  |  | 11,042 |  |  |  | 14.4 |  |  |  | 6,508 |  |  |  | 8.50 |  |  |  | 6,125 |  |  |  | 8.0 |
Tier 1 capital (to average-assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 191,161 |  |  |  | 9.0 | % |  | $ | 84,585 |  |  |  | 4.00 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 14,652 |  |  |  | 9.0 |  |  |  | 6,525 |  |  |  | 4.00 |  |  |  | 8,157 |  |  |  | 5.0 | %
First National Bank |  |  | 95,573 |  |  |  | 8.7 |  |  |  | 44,333 |  |  |  | 4.00 |  |  |  | 55,416 |  |  |  | 5.0 |
Iowa State Savings Bank |  |  | 22,747 |  |  |  | 9.1 |  |  |  | 10,102 |  |  |  | 4.00 |  |  |  | 12,628 |  |  |  | 5.0 |
Reliance State Bank |  |  | 24,774 |  |  |  | 8.8 |  |  |  | 11,396 |  |  |  | 4.00 |  |  |  | 14,245 |  |  |  | 5.0 |
State Bank & Trust |  |  | 19,231 |  |  |  | 9.1 |  |  |  | 8,469 |  |  |  | 4.00 |  |  |  | 10,586 |  |  |  | 5.0 |
United Bank & Trust |  |  | 11,042 |  |  |  | 8.9 |  |  |  | 4,955 |  |  |  | 4.00 |  |  |  | 6,193 |  |  |  | 5.0 |
Common equity tier 1 capital (to risk-weighted assets): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 191,161 |  |  |  | 13.7 | % |  | $ | 97,921 |  |  |  | 7.00 | % |  |  | N/A |  |  |  | N/A |
Boone Bank & Trust |  |  | 14,652 |  |  |  | 13.3 |  |  |  | 7,708 |  |  |  | 7.00 |  |  |  | 7,158 |  |  |  | 6.5 | %
First National Bank |  |  | 95,573 |  |  |  | 13.2 |  |  |  | 50,555 |  |  |  | 7.00 |  |  |  | 46,944 |  |  |  | 6.5 |
Iowa State Savings Bank |  |  | 22,747 |  |  |  | 15.0 |  |  |  | 10,597 |  |  |  | 7.00 |  |  |  | 9,840 |  |  |  | 6.5 |
Reliance State Bank |  |  | 24,774 |  |  |  | 12.3 |  |  |  | 14,091 |  |  |  | 7.00 |  |  |  | 13,084 |  |  |  | 6.5 |
State Bank & Trust |  |  | 19,231 |  |  |  | 14.0 |  |  |  | 9,611 |  |  |  | 7.00 |  |  |  | 8,924 |  |  |  | 6.5 |
United Bank & Trust |  |  | 11,042 |  |  |  | 14.4 |  |  |  | 5,360 |  |  |  | 7.00 |  |  |  | 4,977 |  |  |  | 6.5 |
The Company and the Banks are subject to the rules of the Basel III regulatory capital framework and related Dodd-Frank Wall Street Reform and Consumer Protection Act. The rules include the implementation of a 2.5 percent capital conservation buffer that is added to the minimum requirements for capital adequacy purposes for all capital ratios except tier 1 capital to average assets. A banking organization with a capital conservation buffer of less than the required amount will be subject to limitations on capital distributions, including dividend payments, and certain discretionary bonus payments to executive officers. At March 31, 2022, the capital ratios for the Company and the Banks were sufficient to meet the conservation buffer.

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