Regulatory Matters (Tables)

6 Months Ended

Jun. 30, 2024

Our actual capital amounts and ratios follow (1):


	Actual				Minimum for Adequately Capitalized Institutions				Minimum for Well-Capitalized Institutions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
June 30, 2024
Total capital to risk-weighted assets
Consolidated	$	596,563	14.21	%	$	335,844	8.00	%	NA		NA
Independent Bank	543,231		12.95		335,487		8.00		$	419,359	10.00	%

Tier 1 capital to risk-weighted assets
Consolidated	$	503,981	12.01	%	$	251,883	6.00	%	NA		NA
Independent Bank	490,704		11.70		251,615		6.00		$	335,487	8.00	%

Common equity tier 1 capital to risk-weighted assets
Consolidated	$	465,443	11.09	%	$	188,912	4.50	%	NA		NA
Independent Bank	490,704		11.70		188,712		4.50		$	272,583	6.50	%

Tier 1 capital to average assets
Consolidated	$	503,981	9.59	%	$	210,192	4.00	%	NA		NA
Independent Bank	490,704		9.34		210,197		4.00		$	262,747	5.00	%

December 31, 2023
Total capital to risk-weighted assets
Consolidated	$	573,972	13.71	%	$	335,014	8.00	%	NA		NA
Independent Bank	521,374		12.46		334,673		8.00		$	418,341	10.00	%

Tier 1 capital to risk-weighted assets
Consolidated	$	481,569	11.50	%	$	251,260	6.00	%	NA		NA
Independent Bank	469,023		11.21		251,005		6.00		$	334,673	8.00	%

Common equity tier 1 capital to risk-weighted assets
Consolidated	$	443,065	10.58	%	$	188,445	4.50	%	NA		NA
Independent Bank	469,023		11.21		188,254		4.50		$	271,922	6.50	%

Tier 1 capital to average assets
Consolidated	$	481,569	9.03	%	$	213,227	4.00	%	NA		NA
Independent Bank	469,023		8.80		213,180		4.00		$	266,475	5.00	%

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(1)			These ratios do not reflect a capital conservation buffer of 2.50% at June 30, 2024 and December 31, 2023.

NA - Not applicable

The components of our regulatory capital are as follows:


	Consolidated				Independent Bank
	June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023
	(In thousands)
Total shareholders' equity	$	430,459	$	404,449	$	455,720	$	430,407
Add (deduct)
Accumulated other comprehensive (income) loss for regulatory purposes	65,030		66,344		65,030		66,344
Goodwill and other intangibles	(30,046)		(30,304)		(30,046)		(30,304)
CECL (1)	—		2,576		—		2,576
Common equity tier 1 capital	465,443		443,065		490,704		469,023
Qualifying trust preferred securities	38,538		38,504		—		—
Tier 1 capital	503,981		481,569		490,704		469,023
Subordinated debt	40,000		40,000		—		—
Allowance for credit losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets	52,582		52,403		52,527		52,351
Total risk-based capital	$	596,563	$	573,972	$	543,231	$	521,374


(1)			We elected the three year CECL transition method for regulatory purposes.