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Note 12 - Regulatory Matters

9 Months Ended

Sep. 30, 2025

Regulatory Capital Requirements under Banking Regulations [Text Block]

12.

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 September 30, 2025.

The Company and the Banks’ capital amounts and ratios as of September 30, 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 September 30, 2025
Total capital (to risk-weighted assets):
Consolidated	$	228,752		15.4	%	$	156,433		10.50	%		N/A		N/A
Boone Bank & Trust		16,647		13.5			12,917		10.50			12,302		10.0	%
First National Bank		115,343		15.2			79,781		10.50			75,982		10.0
Iowa State Savings Bank		27,713		16.6			17,483		10.50			16,650		10.0
Reliance State Bank		29,536		13.1			23,619		10.50			22,495		10.0
State Bank & Trust		22,860		16.9			14,205		10.50			13,529		10.0
United Bank & Trust		13,386		17.2			8,162		10.50			7,773		10.0

Tier 1 capital (to risk-weighted assets):
Consolidated	$	210,129		14.1	%	$	126,636		8.50	%		N/A		N/A
Boone Bank & Trust		15,560		12.6			10,457		8.50			9,842		8.0	%
First National Bank		105,844		13.9			64,585		8.50			60,786		8.0
Iowa State Savings Bank		25,629		15.4			14,153		8.50			13,320		8.0
Reliance State Bank		26,720		11.9			19,120		8.50			17,996		8.0
State Bank & Trust		21,182		15.7			11,499		8.50			10,823		8.0
United Bank & Trust		12,414		16.0			6,607		8.50			6,219		8.0

Tier 1 capital (to average-assets):
Consolidated	$	210,129		10.1	%	$	83,528		4.00	%		N/A		N/A
Boone Bank & Trust		15,560		9.5			6,549		4.00			8,187		5.0	%
First National Bank		105,844		10.0			42,171		4.00			52,713		5.0
Iowa State Savings Bank		25,629		9.2			11,181		4.00			13,976		5.0
Reliance State Bank		26,720		9.2			11,619		4.00			14,524		5.0
State Bank & Trust		21,182		10.9			7,773		4.00			9,717		5.0
United Bank & Trust		12,414		10.2			4,891		4.00			6,114		5.0

Common equity tier 1 capital (to risk-weighted assets):
Consolidated	$	210,129		14.1	%	$	104,288		7.00	%		N/A		N/A
Boone Bank & Trust		15,560		12.6			8,612		7.00			7,996		6.5	%
First National Bank		105,844		13.9			53,187		7.00			49,388		6.5
Iowa State Savings Bank		25,629		15.4			11,655		7.00			10,823		6.5
Reliance State Bank		26,720		11.9			15,746		7.00			14,621		6.5
State Bank & Trust		21,182		15.7			9,470		7.00			8,794		6.5
United Bank & Trust		12,414		16.0			5,441		7.00			5,053		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 September 30, 2025, the capital ratios for the Company and the Banks were sufficient to meet the conservation buffer.

- 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.

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