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CAPITAL MATTERS (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022, 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, 2023
Total capital (to risk weighted assets)						$	228,092					14.6		%				$	124,883					> =						8.0		%				$	156,104					> =						10.0		%
Tier 1 capital (to risk weighted assets)						208,726						13.4		%				93,662						> =						6.0		%				124,883						> =						8.0		%
Common equity tier 1 capital (to risk weighted assets)						208,726						13.4		%				70,247						> =						4.5		%				101,468						> =						6.5		%
Tier 1 leverage ratio (to adjusted total assets)						208,726						11.5		%				72,479						> =						4.0		%				90,599						> =						5.0		%
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		%

The Company’s Tier 1 (leverage) and risk-based capital ratios at December 31, 2023 and 2022, respectively, are presented below:

						Actual												For Capital Adequacy Purposes
						Amount						Ratio						Amount												Ratio
As of December 31, 2023
Total capital (to risk weighted assets)						$	230,160					14.7		%				$	124,883					> =						8.0		%
Tier 1 capital (to risk weighted assets)						160,794						10.3		%				93,662						> =						6.0		%
Common equity tier 1 capital (to risk weighted assets)						160,794						10.3		%				70,247						> =						4.5		%
Tier 1 leverage ratio (to adjusted total assets)						160,794						8.9		%				72,479						> =						4.0		%
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		%

Schedule of Dividends

The following table reflects the annual cash dividend paid in the years ended December 31, 2023 and 2022, respectively.

December 31, 2023

December 31, 2022

Cash dividends per share

$

0.29

$

0.26

Stockholder record date

02/03/2023

02/14/2022

Dividend payment date

02/17/2023

02/28/2022

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Tabular disclosure of information related to dividends declared, including paid and unpaid dividends.

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- Definition

Tabular disclosure of the capital amounts and ratios as of the balance sheet date, indicating whether the entity or entities are in compliance with regulatory capital requirements, by entity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480696/942-505-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480696/942-505-50-1B

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