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CAPITAL MATTERS (Tables) | 12 Months Ended
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Dec. 31, 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 December 31, 2024 and 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 December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk weighted assets) |  | $ | 225,432 |  |  | 15.6 | % |  | $ | 115,755 |  |  | > = |  | 8.0 | % |  | $ | 144,693 |  |  | > = |  | 10.0 | %
Tier 1 capital (to risk weighted assets) |  | 207,749 |  |  | 14.4 | % |  | 86,816 |  |  | > = |  | 6.0 | % |  | 115,755 |  |  | > = |  | 8.0 | %
Common equity tier 1 capital (to risk weighted assets) |  | 207,749 |  |  | 14.4 | % |  | 65,112 |  |  | > = |  | 4.5 | % |  | 94,051 |  |  | > = |  | 6.5 | %
Tier 1 leverage ratio (to adjusted total assets) |  | 207,749 |  |  | 11.9 | % |  | 69,787 |  |  | > = |  | 4.0 | % |  | 87,234 |  |  | > = |  | 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 December 31, 2024 and 2023, respectively, are presented below:
|  | Actual |  | For Capital Adequacy Purposes |  |
|  | Amount |  | Ratio |  | Amount |  |  |  | Ratio |  |  |  |  |  |
As of December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk weighted assets) |  | $ | 232,926 |  |  | 16.1 | % |  | $ | 115,914 |  |  | > = |  | 8.0 | % |  |  |  |  |  |
Tier 1 capital (to risk weighted assets) |  | 165,243 |  |  | 11.4 | % |  | 86,936 |  |  | > = |  | 6.0 | % |  |  |  |  |  |
Common equity tier 1 capital (to risk weighted assets) |  | 165,243 |  |  | 11.4 | % |  | 65,202 |  |  | > = |  | 4.5 | % |  |  |  |  |  |
Tier 1 leverage ratio (to adjusted total assets) |  | 165,243 |  |  | 9.5 | % |  | 69,867 |  |  | > = |  | 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 | % |  |  |  |  |  |
Schedule of Dividends | The following table reflects the annual cash dividend paid in the years ended December 31, 2024 and 2023, respectively.
|  | December 31, 2024 |  | December 31, 2023 |  |
Cash dividends per share |  | $ | 0.32 |  |  | $ | 0.29 |  |  |
Stockholder record date |  | 02/09/2024 |  | 02/03/2023 |  |
Dividend payment date |  | 02/23/2024 |  | 02/17/2023 |  |

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