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REGULATORY CAPITAL

12 Months Ended

Sep. 30, 2024

NOTE R - 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.

As of September 30, 2024, the most recent notification from the Federal Deposit Insurance Corporation categorized the Bank as well capitalized under the regulatory framework for prompt corrective action.

The following tables set 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

September 30, 2024

Company

Bank

adequacy purposes

action provisions

Tier 1 leverage ratio

11.64%

11.11%

≥ 4.00%

≥ 5.00%

CET1

15.44%

14.75%

≥ 7.00% ⁽¹⁾

≥ 6.50%

Tier 1 risk-based capital ratio

15.44%

14.75%

≥ 8.50% ⁽¹⁾

≥ 8.00%

Total risk-based capital ratio

16.55%

15.85%

≥ 10.50% ⁽¹⁾

≥ 10.00%

September 30, 2023

Tier 1 leverage ratio

12.15%

11.11%

≥ 4.00%

≥ 5.00%

CET1

16.37%

14.97%

≥ 7.00% ⁽¹⁾

≥ 6.50%

Tier 1 risk-based capital ratio

16.37%

14.97%

≥ 8.50% ⁽¹⁾

≥ 8.00%

Total risk-based capital ratio

17.62%

16.22%

≥ 10.50% ⁽¹⁾

≥ 10.00%

⁽¹⁾ Includes 2.50% capital conservation buffer

- 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 + Details