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CAPITAL REQUIREMENTS AND OTHER REGULATORY MATTERS | 12 Months Ended
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Dec. 31, 2021
CAPITAL REQUIREMENTS AND OTHER REGULATORY MATTERS |
CAPITAL REQUIREMENTS AND OTHER REGULATORY MATTERS | NOTE 10. CAPITAL REQUIREMENTS AND OTHER REGULATORY MATTERS The Bank is subject to various regulatory capital requirements administered by its primary federal regulator, the Office of the Comptroller of the Currency (“OCC”). Failure to meet minimum regulatory capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under the regulatory capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification under the prompt corrective action guidelines are also subject to qualitative judgements by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios of: total risk-based capital, Tier 1 Capital to risk-weighted assets, and Tier 1 Capital to adjusted total assets. As of December 31, 2021 and 2020, the Bank met all of the capital adequacy requirements to which it is subject. At December 31, 2021 and 2020, the Bank was categorized as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since the most recent notification that management believes have changed the Bank’s prompt corrective action category. The following table presents actual and required capital ratios for the Bank. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Actual | ​ | To be Well Capitalized under the Prompt Corrective Action Provision
(Dollars in thousands) |  | Amount |  | Ratio | ​ | Amount |  | Ratio
As of December 31, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Common Equity Tier 1 Capital | ​ | $ | 77,819 | ​ | 63.51 | % | ​ | $ | 7,965 | ​ | >6.5 | %
Tier 1 Risk-Based Capital | ​ |  | 77,819 | ​ | 63.51 | ​ | ​ |  | 9,803 | ​ | >8.0 | ​
Total Risk-Based Capital | ​ |  | 79,360 | ​ | 64.77 | ​ | ​ |  | 12,253 | ​ | >10.0 | ​
Tier 1 Leverage Capital | ​ |  | 77,819 | ​ | 27.38 | ​ | ​ |  | 14,210 | ​ | >5.0 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As of December 31, 2020 | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  | ​
Common Equity Tier 1 Capital | ​ | $ | 50,426 | ​ | 40.92 | % | ​ | $ | 8,010 | ​ | >6.5 | %
Tier 1 Risk-Based Capital | ​ |  | 50,426 | ​ | 40.92 | ​ | ​ |  | 9,858 | ​ | >8.0 | ​
Total Risk-Based Capital | ​ |  | 52,118 | ​ | 42.29 | ​ | ​ |  | 12,323 | ​ | >10.0 | ​
Tier 1 Leverage Capital | ​ |  | 50,426 | ​ | 21.06 | ​ | ​ |  | 11,970 | ​ | >5.0 | ​
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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://www.xbrl.org/2003/role/disclosureRef -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 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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