Regulatory Matters

9 Months Ended

Sep. 30, 2024

Disclosure Of Regulatory Matters [Abstract]

Regulatory Matters

12.Regulatory Matters

The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below). As of September 30, 2024, the most recent notification from the Office of the Comptroller of the Currency categorized the Bank as well-capitalized under the regulatory framework, for prompt corrective action. To be categorized as well-capitalized, the Bank must maintain minimum capital amounts and ratios as set forth in the following tables. There are no conditions or events since the notification that management believes have changed the Bank’s category. Management believes that, as of September 30, 2024 and December 31, 2023, the Bank met all capital adequacy requirements to which it was subject, including the capital conservation buffer, at those dates.

The following table presents actual and required capital ratios as of September 30, 2024 and December 31, 2023 for the Bank under the Basel Committee on Banking Supervisions capital guidelines for U.S. banks (“Basel III Capital Rules”) as fully phased-in on January 1, 2019. Capital levels required to be considered well-capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules.

						Minimum Capital					Minimum Capital Required to be Well					Minimum Capital Required For Capital Adequacy Plus Capital Conservation Buffer
	Actual					Requirement					Capitalized					Fully Phased-In
(Dollars in thousands)	Amount		Ratio			Amount		Ratio			Amount		Ratio			Amount		Ratio
September 30, 2024
Total Capital (to risk-weighted assets)	$	57,150		15.66	%	$	29,192		8.00	%	$	36,490		10.00	%	$	38,314		10.50	%
Tier 1 Capital (to risk-weighted assets)		53,414		14.64	%		21,894		6.00			29,192		8.00			31,016		8.50
Tier 1 Capital (to average assets)		53,414		9.05	%		23,617		4.00			29,522		5.00			23,617		4.00
Common Equity Tier 1 (to risk-weighted assets)		53,414		14.64	%		16,420		4.50			23,718		6.50			25,543		7.00

						Minimum Capital					Minimum Capital Required to be Well					Minimum Capital Required For Capital Adequacy Plus Capital Conservation Buffer
	Actual					Requirement					Capitalized					Fully Phased-In
(Dollars in thousands)	Amount		Ratio			Amount		Ratio			Amount		Ratio			Amount		Ratio
December 31, 2023
Total Capital (to risk-weighted assets)	$	55,701		15.32	%	$	29,090		8.00	%	$	36,363		10.00	%	$	38,181		10.50	%
Tier 1 Capital (to risk-weighted assets)		51,878		14.27			21,818		6.00			29,090		8.00			30,908		8.50
Tier 1 Capital (to average assets)		51,878		9.19			22,592		4.00			28,240		5.00			22,592		4.00
Common Equity Tier 1 (to risk-weighted assets)		51,878		14.27			16,363		4.50			23,636		6.50			25,454		7.00