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CAPITAL MATTERS (Tables) | 12 Months Ended
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Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Schedule of Bank's Tier 1 (Leverage) and Risk-Based Capital Ratios | The Bank’s Tier 1 (leverage) and risk-based capital ratios at December 31, 2022 and 2021, respectively, are presented below:
|  | Actual |  | For Capital Adequacy Purposes |  | To Be Well Capitalized Under Prompt Corrective Action Provisions
|  | Amount |  | Ratio |  | Amount |  |  |  | Ratio |  | Amount |  |  |  | Ratio
As of December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk weighted assets) |  | $ | 221,361 |  |  | 14.2 | % |  | $ | 124,971 |  |  | > = |  | 8.0 | % |  | $ | 156,213 |  |  | > = |  | 10.0 | %
Tier 1 capital (to risk weighted assets) |  | 203,422 |  |  | 13.0 | % |  | 93,728 |  |  | > = |  | 6.0 | % |  | 124,971 |  |  | > = |  | 8.0 | %
Common equity tier 1 capital (to risk weighted assets) |  | 203,422 |  |  | 13.0 | % |  | 70,296 |  |  | > = |  | 4.5 | % |  | 101,539 |  |  | > = |  | 6.5 | %
Tier 1 leverage ratio (to adjusted total assets) |  | 203,422 |  |  | 11.5 | % |  | 70,610 |  |  | > = |  | 4.0 | % |  | 88,262 |  |  | > = |  | 5.0 | %
As of December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk weighted assets) |  | $ | 187,783 |  |  | 13.4 | % |  | $ | 111,694 |  |  | > = |  | 8.0 | % |  | $ | 139,618 |  |  | > = |  | 10.0 | %
Tier 1 capital (to risk weighted assets) |  | 170,870 |  |  | 12.2 | % |  | 83,771 |  |  | > = |  | 6.0 | % |  | 111,694 |  |  | > = |  | 8.0 | %
Common equity tier 1 capital (to risk weighted assets) |  | 170,870 |  |  | 12.2 | % |  | 62,828 |  |  | > = |  | 4.5 | % |  | 90,752 |  |  | > = |  | 6.5 | %
Tier 1 leverage ratio (to adjusted total assets) |  | 170,870 |  |  | 10.0 | % |  | 68,323 |  |  | > = |  | 4.0 | % |  | 85,403 |  |  | > = |  | 5.0 | %
The Company’s Tier 1 (leverage) and risk-based capital ratios at December 31, 2022 and 2021, respectively, are presented below:
|  | Actual |  | For Capital Adequacy Purposes |  |
|  | Amount |  | Ratio |  | Amount |  |  |  | Ratio |  |  |  |  |  |
As of December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk weighted assets) |  | $ | 218,737 |  |  | 14.0 | % |  | $ | 124,971 |  |  | > = |  | 8.0 | % |  |  |  |  |  |
Tier 1 capital (to risk weighted assets) |  | 150,798 |  |  | 9.7 | % |  | 93,728 |  |  | > = |  | 6.0 | % |  |  |  |  |  |
Common equity tier 1 capital (to risk weighted assets) |  | 150,798 |  |  | 9.7 | % |  | 70,296 |  |  | > = |  | 4.5 | % |  |  |  |  |  |
Tier 1 leverage ratio (to adjusted total assets) |  | 150,798 |  |  | 8.5 | % |  | 70,610 |  |  | > = |  | 4.0 | % |  |  |  |  |  |
As of December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk weighted assets) |  | $ | 182,242 |  |  | 13.1 | % |  | $ | 111,694 |  |  | > = |  | 8.0 | % |  |  |  |  |  |
Tier 1 capital (to risk weighted assets) |  | 135,329 |  |  | 9.7 | % |  | 83,771 |  |  | > = |  | 6.0 | % |  |  |  |  |  |
Common equity tier 1 capital (to risk weighted assets) |  | 135,329 |  |  | 9.7 | % |  | 62,828 |  |  | > = |  | 4.5 | % |  |  |  |  |  |
Tier 1 leverage ratio (to adjusted total assets) |  | 135,329 |  |  | 7.9 | % |  | 68,323 |  |  | > = |  | 4.0 | % |  |  |  |  |  |
Schedule of Dividends | The following table reflects the annual cash dividend paid in the years ended December 31, 2022 and 2021, respectively.
|  | December 31, 2022 |  | December 31, 2021 |  |
Cash dividends per share |  | $ | 0.26 |  |  | $ | 0.23 |  |  |
Stockholder record date |  | 02/14/2022 |  | 02/11/2021 |  |
Dividend payment date |  | 02/28/2022 |  | 02/25/2021 |  |

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