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REGULATORY CAPITAL | 12 Months Ended
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Sep. 30, 2019
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract] |
REGULATORY CAPITAL | NOTE S - REGULATORY CAPITAL The Company and Bank are required to maintain minimum amounts of capital to total “risk-weighted” assets, as defined by the banking regulators. Failure to meet minimum capital requirements can initiate certain mandatory and possibly discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and Bank must meet specific capital guidelines that involve quantitative measures of the Company’s and Bank’s assets, liabilities, and certain off balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. The federal banking agencies substantially amended the regulatory risk-based capital rules applicable to the Bank in 2015. The amendments implemented the “Basel III” regulatory capital reforms and changes required by the Dodd-Frank Act. The rule includes a minimum common equity Tier 1 capital (“CET1”) to risk-weighted assets ratio of 4.5% of risk-weighted assets, a minimum Tier 1 capital to risk-weighted assets of 6.0% and a minimum leverage ratio of 4.0%. The required minimum ratio of total capital to risk-weighted assets is 8.0%. The amended rules also established a “capital conservation buffer” of 2.5% beginning in January 2016 (phased in over four years at 0.625% per year) above the new regulatory minimum capital ratios, and would result in the following phased-in minimum ratios when fully implemented: (i) a common equity Tier 1 capital ratio of 7.0%; (ii) a Tier 1 capital ratio of 8.5%; and (iii) a total capital ratio of 10.5%. The new capital conservation buffer requirement phased in and was fully implemented in January 2019. An institution will be subject to limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses if its capital level falls below the buffer amount. These limitations will establish a maximum percentage of eligible retained income that could be utilized for such actions. As of September 30, 2019, the most recent notification from the Federal Deposit Insurance Corporation categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the Bank’s category. The following table sets forth the Company’s and the Bank’s actual and required capital levels under those measures:
|  |  |  |  |  |  |  |  | To be well-
|  |  |  |  |  |  | capitalized under
|  |  |  |  | Required for capital |  | prompt corrective
| At September 30, 2019 |  | adequacy purposes |  | action provisions
| Company |  | Bank |  | September 30, 2019 |  | Bank
Tier 1 leverage ratio | 8.94% |  | 9.03% |  | ≥ 4.00% |  | ≥ 5.00%
CET1 | 11.84% |  | 11.96% |  | ≥ 7.00% (1) |  | ≥ 6.50%
Tier 1 risk-based capital ratio | 11.84% |  | 11.96% |  | ≥ 8.50% (1) |  | ≥ 8.00%
Total risk-based capital ratio | 12.88% |  | 12.99% |  | ≥ 10.50% (1) |  | ≥ 10.00%
(1) Includes 2.50% capital conservation buffer
|  |  |  |  |  |  |  |  | To be well-
|  |  |  |  |  |  | capitalized under
|  |  |  |  | Required for capital |  | prompt corrective
| At September 30, 2018 |  | adequacy purposes effective |  | action provisions
| Company |  | Bank |  | September 30, 2018 |  | January 1, 2019 |  | Bank
Tier 1 leverage ratio | 8.55% |  | 8.61% |  | ≥ 4.00% |  | ≥ 4.00% |  | ≥ 5.00%
CET1 | 11.44% |  | 11.53% |  | ≥ 6.375% | (1) | ≥ 7.00% | (2) | ≥ 6.50%
Tier 1 risk-based capital ratio | 11.44% |  | 11.53% |  | ≥ 7.875% | (1) | ≥ 8.50% | (2) | ≥ 8.00%
Total risk-based capital ratio | 12.35% |  | 12.44% |  | ≥ 9.875% | (1) | ≥ 10.50% | (2) | ≥ 10.00%
(1) Includes 1.875% capital conservation buffer (2) Includes 2.50% capital conservation buffer

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958572-112826 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958573-112826 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958570-112826 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958569-112826 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958577-112826 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958575-112826 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958574-112826 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=117337116&loc=d3e65071-112826 + Details
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