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Regulatory Matters
6 Months Ended
Jun. 30, 2023
Regulatory Matters [Abstract]  
Regulatory Matters
Note 10:
 
Regulatory Matters
The Company and the Bank are subject to various regulatory capital requirements
 
administered by the federal banking agencies.
Failure to meet minimum capital requirements can initiate certain mandatory
 
and possibly additional discretionary actions by regulators
that, if undertaken, could have a direct material effect on the Company’s consolidated
 
financial statements. Management believes that,
as of June 30, 2023, the Company and the Bank met all capital adequacy requirements
 
to which they are subject.
The capital rules require the Company to maintain a
2.5
% capital conservation buffer with respect to Common Equity Tier I
capital, Tier I capital to risk-weighted assets, and total capital to risk-weighted assets, which
 
is included in the column “Required to be
Considered Adequately Capitalized” within the table below. A financial institution with a conservation buffer of less than the required
amount is subject to limitations on capital distributions, including dividend
 
payments and stock repurchases, as well as certain
discretionary bonus payments to executive officers.
 
The Company and the Bank opted to exclude AOCI from the regulatory capital calculations. As a result, changes in AOCI, net of
tax, do not impact the Company’s or Bank’s regulatory capital ratios.
The Company’s and the Bank’s actual capital amounts and ratios as of June 30,
 
2023 and December 31, 2022 are presented in the
following table:
Represents the minimum capital required for capital adequacy under Basel III.
 
Includes capital conservation buffer of
2.5
%.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Actual
Required to be Considered
 
Well Capitalized
Required to be Considered
Adequately Capitalized
(1)
Amount
Ratio
Amount
Ratio
Amount
Ratio
(Dollars in thousands)
June 30, 2023
Total Capital to Risk-Weighted Assets
Consolidated
$
763,079
10.7
%
 
N/A
 
 
N/A
 
$
751,833
10.5
%
Bank
765,483
10.7
$
715,561
10.0
%
751,339
10.5
Tier I Capital to Risk-Weighted Assets
Consolidated
687,799
9.6
N/A
N/A
608,626
8.5
Bank
690,203
9.6
572,449
8.0
608,227
8.5
Common Equity Tier 1 to Risk-Weighted Assets
Consolidated
678,960
9.5
 
N/A
 
 
N/A
 
501,222
7.0
Bank
690,203
9.6
465,115
6.5
500,893
7.0
Tier I Capital to Average Assets
Consolidated
687,799
9.9
N/A
N/A
279,015
4.0
Bank
$
690,203
9.9
%
$
348,828
5.0
%
$
279,063
4.0
%
December 31, 2022
Total Capital to Risk-Weighted Assets
Consolidated
$
715,416
10.5
%
 
N/A
 
 
N/A
 
$
714,162
10.5
%
Bank
714,300
10.5
$
679,793
10.0
%
713,783
10.5
Tier I Capital to Risk-Weighted Assets
Consolidated
644,953
9.5
N/A
N/A
578,131
8.5
Bank
643,837
9.5
543,835
8.0
577,824
8.5
Common Equity Tier 1 to Risk-Weighted Assets
Consolidated
643,892
9.5
 
N/A
 
 
N/A
 
476,108
7.0
Bank
643,837
9.5
441,866
6.5
475,855
7.0
Tier I Capital to Average Assets
Consolidated
644,953
10.3
N/A
N/A
249,270
4.0
Bank
$
643,837
10.3
%
$
311,623
5.0
%
$
249,299
4.0
%