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CAPITAL MATTERS (Tables) | 9 Months Ended
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Sep. 30, 2024
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 September 30, 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 September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk weighted assets) |  | $ | 226,597 |  |  | 15.0 | % |  | $ | 120,814 |  |  | > = |  | 8.0 | % |  | $ | 151,018 |  |  | > = |  | 10.0 | %
Tier 1 capital (to risk weighted assets) |  | 208,326 |  |  | 13.8 | % |  | 90,611 |  |  | > = |  | 6.0 | % |  | 120,814 |  |  | > = |  | 8.0 | %
Common equity tier 1 capital (to risk weighted assets) |  | 208,326 |  |  | 13.8 | % |  | 67,958 |  |  | > = |  | 4.5 | % |  | 98,162 |  |  | > = |  | 6.5 | %
Tier 1 leverage ratio (to adjusted total assets) |  | 208,326 |  |  | 11.7 | % |  | 71,173 |  |  | > = |  | 4.0 | % |  | 88,966 |  |  | > = |  | 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 September 30, 2024 and December 31, 2023, respectively, are presented below:
|  | Actual |  | For Capital Adequacy Purposes |  |
|  | Amount |  | Ratio |  | Amount |  |  |  | Ratio |  |  |  |  |  |
As of September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk weighted assets) |  | $ | 231,825 |  |  | 15.3 | % |  | $ | 120,972 |  |  | > = |  | 8.0 | % |  |  |  |  |  |
Tier 1 capital (to risk weighted assets) |  | 163,554 |  |  | 10.8 | % |  | 90,729 |  |  | > = |  | 6.0 | % |  |  |  |  |  |
Common equity tier 1 capital (to risk weighted assets) |  | 163,554 |  |  | 10.8 | % |  | 68,047 |  |  | > = |  | 4.5 | % |  |  |  |  |  |
Tier 1 leverage ratio (to adjusted total assets) |  | 163,554 |  |  | 9.2 | % |  | 71,173 |  |  | > = |  | 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 | % |  |  |  |  |  |

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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/1943274/2147477270/942-505-50-1 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/1943274/2147477270/942-505-50-1B + Details
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