XML 78 R16.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

CAPITAL MATTERS | 3 Months Ended
--- | ---
Mar. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
CAPITAL MATTERS | CAPITAL MATTERS Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations involve quantitative measures of assets, liabilities and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized. Although these terms are not used to represent overall financial condition, if adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. At March 31, 2024, the Bank was categorized as “Well Capitalized”, under Prompt Corrective Action Provisions. The Bank’s Tier 1 (leverage) and risk-based capital ratios at March 31, 2024, and December 31, 2023, 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 March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk weighted assets) |  | $ | 229,819 |  |  | 14.9 | % |  | $ | 123,277 |  |  | > = |  | 8.0 | % |  | $ | 154,097 |  |  | > = |  | 10.0 | %
Tier 1 capital (to risk weighted assets) |  | 210,507 |  |  | 13.7 | % |  | 92,458 |  |  | > = |  | 6.0 | % |  | 123,277 |  |  | > = |  | 8.0 | %
Common equity tier 1 capital (to risk weighted assets) |  | 210,507 |  |  | 13.7 | % |  | 69,344 |  |  | > = |  | 4.5 | % |  | 100,163 |  |  | > = |  | 6.5 | %
Tier 1 leverage ratio (to adjusted total assets) |  | 210,507 |  |  | 11.7 | % |  | 72,000 |  |  | > = |  | 4.0 | % |  | 90,000 |  |  | > = |  | 5.0 | %
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 | %
The Company’s Tier 1 (leverage) and risk-based capital ratios at March 31, 2024 and December 31, 2023, respectively, are presented below:
|  | Actual |  | For Capital Adequacy Purposes |  |
|  | Amount |  | Ratio |  | Amount |  |  |  | Ratio |  |  |  |  |  |
As of March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk weighted assets) |  | $ | 229,366 |  |  | 14.9 | % |  | $ | 123,277 |  |  | > = |  | 8.0 | % |  |  |  |  |  |
Tier 1 capital (to risk weighted assets) |  | 160,054 |  |  | 10.4 | % |  | 92,458 |  |  | > = |  | 6.0 | % |  |  |  |  |  |
Common equity tier 1 capital (to risk weighted assets) |  | 160,054 |  |  | 10.4 | % |  | 69,344 |  |  | > = |  | 4.5 | % |  |  |  |  |  |
Tier 1 leverage ratio (to adjusted total assets) |  | 160,054 |  |  | 8.9 | % |  | 72,000 |  |  | > = |  | 4.0 | % |  |  |  |  |  |
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 | % |  |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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//1943274/2147480696/942-505-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1D -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1D Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1F + Details
Name: | us-gaap_RegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration