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Regulatory Capital Matters | 9 Months Ended
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Sep. 30, 2014
Regulatory Capital Matters [Abstract] |
Regulatory Capital Matters | NOTE 8 – REGULATORY CAPITAL MATTERS CFBank is subject to regulatory capital requirements administered by federal banking agencies. 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. Actual and required capital amounts and ratios of CFBank are presented below:
|  |  |  |  |  |  |  |  |  | To Be Well |  |  |  |
|  |  |  |  |  |  |  |  |  | Capitalized Under |  |
|  |  |  |  |  | For Capital |  |  | Applicable Regulatory |  |  | Required By
|  | Actual |  |  | Adequacy Purposes |  |  | Action Regulations |  |  | OCC
|  | Amount | Ratio |  |  | Amount | Ratio |  |  | Amount | Ratio |  |  | Amount | Ratio
September 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital to risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
weighted assets | $ | 37,246 | 14.33% |  | $ | 20,790 | 8.00% |  | $ | 25,987 | 10.00% |  | $ | 31,185 | 12.00%
Tier 1 (Core) Capital to risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
weighted assets |  | 33,960 | 13.07% |  |  | 10,395 | 4.00% |  |  | 15,592 | 6.00% |  |  | N/A | N/A
Tier 1 (Core) Capital to |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
adjusted total assets |  | 33,960 | 11.14% |  |  | 12,196 | 4.00% |  |  | 15,245 | 5.00% |  |  | 24,392 | 8.00%
Tangible Capital to |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
adjusted total assets |  | 33,960 | 11.14% |  |  | 4,573 | 1.50% |  |  | N/A | N/A |  |  | N/A | N/A
|  |  |  |  |  |  |  | To Be Well |  |  |
|  |  |  |  |  |  |  | Capitalized Under |
|  |  |  |  | For Capital |  | Applicable Regulatory |  | Required By
|  | Actual |  | Adequacy Purposes |  | Capital Standards |  | OCC
|  | Amount | Ratio |  | Amount | Ratio |  | Amount | Ratio |  | Amount | Ratio
December 31,2013 |  |  |  |  |  |  |  |  |  |  |  |
Total Capital to risk |  |  |  |  |  |  |  |  |  |  |  |
weighted assets | $ | 26,246 | 12.08% | $ | 17,385 | 8.00% | $ | 21,731 | 10.00% | $ | 26,078 | 12.00%
Tier 1 (Core) Capital to risk |  |  |  |  |  |  |  |  |  |  |  |
weighted assets |  | 23,492 | 10.81% |  | 8,693 | 4.00% |  | 13,039 | 6.00% |  | N/A | N/A
Tier 1 (Core) Capital to |  |  |  |  |  |  |  |  |  |  |  |
adjusted total assets |  | 23,492 | 9.34% |  | 10,061 | 4.00% |  | 12,576 | 5.00% |  | 20,121 | 8.00%
Tangible Capital to |  |  |  |  |  |  |  |  |  |  |  |
adjusted total assets |  | 23,492 | 9.34% |  | 3,773 | 1.50% |  | N/A | N/A |  | N/A | N/A
The CFBank Order required CFBank to have an 8% Tier 1 (Core) Capital to adjusted total assets and 12% Total Capital to risk weighted assets. CFBank met the heightened capital requirements imposed by the OCC at September 30, 2014, as discussed below, and met the capital requirement at December 31, 2013 as required by the CFBank Order. However, CFBank was not considered “well capitalized” under the aforementioned applicable regulatory capital standards at December 31, 2013 because of the existence of the CFBank Order as of such date. Although the CFBank Order was terminated by the OCC effective January 23, 2014, CFBank remains subject to the heightened capital requirements imposed by the OCC and is required to maintain an 8% Tier 1 (core) Capital ratio to adjusted total assets and 12% Total Capital to risk weighted assets. See Note 2-Regulatory Order Considerations for additional information. The Qualified Thrift Lender test requires CFBank to maintain at least 65% of assets in housing‑related finance and other specified areas. If this test is not met, limits are placed on growth, branching, new investments, FHLB advances and dividends. Management believes that this test was met at September 30, 2014 and December 31, 2013. CFBank converted from a mutual to a stock institution in 1998, and a “liquidation account” was established at that time in the amount of $14,300, which was the net worth reported in the conversion prospectus. The liquidation account represents a calculated amount for the purposes described below, and it does not represent actual funds included in the consolidated financial statements of the Company. Eligible depositors who have maintained their accounts, less annual reductions to the extent they have reduced their deposits, would receive a distribution from this account if CFBank liquidated and its assets exceeded its liabilities. Dividends may not reduce CFBank’s stockholder’s equity below the required liquidation account balance. Dividend Restrictions The Holding Company’s principal source of funds for dividend payments is dividends received from CFBank. Banking regulations limit the amount of dividends that may be paid without prior approval of regulatory agencies. Under these regulations, the amount of dividends that may be paid in any calendar year is limited to the current year’s net profits, combined with the retained net profits of the preceding two years, subject to the capital requirements described above. CFBank must receive regulatory approval prior to any dividend payments. Additionally, CFBank does not intend to make distributions to the Holding Company that would result in a recapture of any portion of its thrift bad debt reserve as discussed in Note 1 0-Income taxes. As of September 30, 2014, CFBank could pay no dividends to the Holding Company under the regulations described above without receiving the prior written approval of the OCC. Future dividend payments by CFBank to the Holding Company would be based on future earnings and regulatory approval. The payment of dividends from CFBank to the Holding Company is not likely to be approved by the OCC until CFBank is able to generate consistent earnings.

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- Definition The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958570-112826 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958568-112826 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958573-112826 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958574-112826 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958575-112826 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958569-112826 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=35709795&loc=d3e65071-112826 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958577-112826 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958572-112826 + Details
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