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Note 13 - Regulatory Matters

3 Months Ended

Mar. 31, 2025

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, 2025.

The Company and the Banks’ capital amounts and ratios as of March 31, 2025 and  December 31, 2024 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, 2025
Total capital (to risk-weighted assets):
Consolidated		$	221,903				14.5	%		$	161,009				10.50	%			N/A				N/A
Boone Bank & Trust			16,449				13.0				13,239				10.50				12,609				10.0	%
First National Bank			113,232				14.7				80,994				10.50				77,137				10.0
Iowa State Savings Bank			27,517				15.9				18,179				10.50				17,313				10.0
Reliance State Bank			29,318				12.4				24,814				10.50				23,633				10.0
State Bank & Trust			22,594				15.8				14,991				10.50				14,277				10.0
United Bank & Trust			13,172				16.1				8,597				10.50				8,187				10.0
Tier 1 capital (to risk-weighted assets):
Consolidated		$	202,987				13.2	%		$	130,340				8.50	%			N/A				N/A
Boone Bank & Trust			15,399				12.2				10,717				8.50				10,087				8.0	%
First National Bank			103,584				13.4				65,567				8.50				61,710				8.0
Iowa State Savings Bank			25,353				14.6				14,716				8.50				13,850				8.0
Reliance State Bank			26,464				11.2				20,088				8.50				18,906				8.0
State Bank & Trust			20,911				14.6				12,135				8.50				11,421				8.0
United Bank & Trust			12,149				14.8				6,959				8.50				6,550				8.0
Tier 1 capital (to average-assets):
Consolidated		$	202,987				9.4	%		$	86,629				4.00	%			N/A				N/A
Boone Bank & Trust			15,399				9.2				6,717				4.00				8,396				5.0	%
First National Bank			103,584				9.4				44,270				4.00				55,338				5.0
Iowa State Savings Bank			25,353				9.1				11,146				4.00				13,933				5.0
Reliance State Bank			26,464				8.8				12,036				4.00				15,045				5.0
State Bank & Trust			20,911				10.1				8,290				4.00				10,362				5.0
United Bank & Trust			12,149				9.6				5,074				4.00				6,343				5.0
Common equity tier 1 capital (to risk-weighted assets):
Consolidated		$	202,987				13.2	%		$	107,339				7.00	%			N/A				N/A
Boone Bank & Trust			15,399				12.2				8,826				7.00				8,196				6.5	%
First National Bank			103,584				13.4				53,996				7.00				50,139				6.5
Iowa State Savings Bank			25,353				14.6				12,119				7.00				11,253				6.5
Reliance State Bank			26,464				11.2				16,543				7.00				15,361				6.5
State Bank & Trust			20,911				14.6				9,994				7.00				9,280				6.5
United Bank & Trust			12,149				14.8				5,731				7.00				5,322				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, 2024
Total capital (to risk-weighted assets):
Consolidated		$	219,750				14.3	%		$	161,155				10.50	%			N/A				N/A
Boone Bank & Trust			16,446				13.5				12,809				10.50				12,199				10.0	%
First National Bank			112,663				14.6				81,211				10.50				77,344				10.0
Iowa State Savings Bank			27,161				15.1				18,866				10.50				17,967				10.0
Reliance State Bank			29,222				12.2				25,232				10.50				24,030				10.0
State Bank & Trust			22,435				16.0				14,719				10.50				14,018				10.0
United Bank & Trust			13,205				16.4				8,479				10.50				8,075				10.0
Tier 1 capital (to risk-weighted assets):
Consolidated		$	201,749				13.1	%		$	130,459				8.50	%			N/A				N/A
Boone Bank & Trust			15,404				12.6				10,369				8.50				9,759				8.0	%
First National Bank			103,707				13.4				65,742				8.50				61,875				8.0
Iowa State Savings Bank			24,915				13.9				15,272				8.50				14,374				8.0
Reliance State Bank			26,237				10.9				20,426				8.50				19,224				8.0
State Bank & Trust			20,734				14.8				11,915				8.50				11,214				8.0
United Bank & Trust			12,198				15.1				6,864				8.50				6,460				8.0
Tier 1 capital (to average-assets):
Consolidated		$	201,749				9.2	%		$	87,421				4.00	%			N/A				N/A
Boone Bank & Trust			15,404				9.1				6,743				4.00				8,429				5.0	%
First National Bank			103,707				9.3				44,595				4.00				55,744				5.0
Iowa State Savings Bank			24,915				9.5				10,541				4.00				13,176				5.0
Reliance State Bank			26,237				8.6				12,160				4.00				15,200				5.0
State Bank & Trust			20,734				10.2				8,096				4.00				10,120				5.0
United Bank & Trust			12,198				9.6				5,084				4.00				6,356				5.0
Common equity tier 1 capital (to risk-weighted assets):
Consolidated		$	201,749				13.1	%		$	107,436				7.00	%			N/A				N/A
Boone Bank & Trust			15,404				12.6				8,540				7.00				7,930				6.5	%
First National Bank			103,707				13.4				54,141				7.00				50,274				6.5
Iowa State Savings Bank			24,915				13.9				12,577				7.00				11,679				6.5
Reliance State Bank			26,237				10.9				16,821				7.00				15,620				6.5
State Bank & Trust			20,734				14.8				9,812				7.00				9,112				6.5
United Bank & Trust			12,198				15.1				5,653				7.00				5,249				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 included 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 is subject to limitations on capital distributions, including dividend payments, and certain discretionary bonus payments to executive officers. At March 31, 2025, 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
-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
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-URI https://asc.fasb.org/1943274/2147477270/942-505-50-1

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