Regulatory Capital and Liquidity Requirements

6 Months Ended

Jun. 30, 2024

Mortgage Banking [Abstract]

Regulatory Capital and Liquidity Requirements

Note 26—Regulatory Capital and Liquidity Requirements

The Company, through PMC, is subject to financial eligibility requirements established by the Federal Housing Finance Agency for sellers/servicers eligible to sell or service mortgage loans with Fannie Mae and Freddie Mac.

The Agencies' applicable capital and liquidity amounts and requirements are summarized below:

	Net worth (1)				Tangible net worth / total assets ratio (1)						Liquidity (1)
Measurement date	Actual		Required		Actual			Required			Actual		Required
	(dollars in thousands)
June 30, 2024	$	839,660	$	577,947		15	%		6	%	$	566,152	$	208,704
December 31, 2023	$	874,628	$	584,131		15	%		6	%	$	450,210	$	210,691

(1)Calculated in accordance with the Agencies’ requirements.

Noncompliance with the Agencies’ capital and liquidity requirements can result in the Agencies taking various remedial actions up to and including removing the Company’s ability to sell loans to and service loans on behalf of the Agencies.