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REGULATORY MATTERS (Tables)
 12 Months Ended
Dec. 31, 2012
REGULATORY MATTERS [Abstract]  
Actual capital amounts and ratios
Our actual capital amounts and ratios at December 31, follow:

 
 
Actual
 
 
Minimum for Adequately Capitalized Institutions
 
 
Minimum for
Well-Capitalized Institutions
 
 
 
Amount
 
 
Ratio
 
 
Amount
 
 
Ratio
 
 
Amount
 
 
Ratio
 
 
 
(Dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total capital to risk-weighted assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated
 
$
204,663
 
 
 
14.71
%
 
$
111,268
 
 
 
8.00
%
 
NA
 
 
NA
 
Independent Bank
 
 
207,553
 
 
 
14.95
 
 
 
111,063
 
 
 
8.00
 
 
$
138,829
 
 
 
10.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tier 1 capital to risk-weighted assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated
 
$
185,948
 
 
 
13.37
%
 
$
55,634
 
 
 
4.00
%
 
NA
 
 
NA
 
Independent Bank
 
 
189,777
 
 
 
13.67
 
 
 
55,531
 
 
 
4.00
 
 
$
83,297
 
 
 
6.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tier 1 capital to average assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated
 
$
185,948
 
 
 
8.08
%
 
$
92,026
 
 
 
4.00
%
 
NA
 
 
NA
 
Independent Bank
 
 
189,777
 
 
 
8.26
 
 
 
91,919
 
 
 
4.00
 
 
$
114,899
 
 
 
5.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2011
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total capital to risk-weighted assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated
 
$
174,547
 
 
 
11.31
%
 
$
123,470
 
 
 
8.00
%
 
NA
 
 
NA
 
Independent Bank
 
 
175,868
 
 
 
11.41
 
 
 
123,254
 
 
 
8.00
 
 
$
154,068
 
 
 
10.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tier 1 capital to risk-weighted assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated
 
$
144,265
 
 
 
9.35
%
 
$
61,735
 
 
 
4.00
%
 
NA
 
 
NA
 
Independent Bank
 
 
156,104
 
 
 
10.13
 
 
 
61,627
 
 
 
4.00
 
 
$
92,441
 
 
 
6.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tier 1 capital to average assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated
 
$
144,265
 
 
 
6.25
%
 
$
92,338
 
 
 
4.00
%
 
NA
 
 
NA
 
Independent Bank
 
 
156,104
 
 
 
6.77
 
 
 
92,268
 
 
 
4.00
 
 
$
115,335
 
 
 
5.00
%

 ______________
NA - Not applicable
 
Components of regulatory capital
The components of our regulatory capital are as follows:

 
 
Consolidated
 
 
Independent Bank
 
 
 
December 31,
 
 
December 31,
 
 
 
2012
 
 
2011
 
 
2012
 
 
2011
 
 
 
(In thousands)
 
Total shareholders' equity
 
$
134,975
 
 
$
102,627
 
 
$
186,384
 
 
$
152,987
 
Add (deduct)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Qualifying trust preferred securities
 
 
47,678
 
 
 
38,183
 
 
 
-
 
 
 
-
 
Accumulated other comprehensive loss
 
 
8,058
 
 
 
11,921
 
 
 
8,156
 
 
 
11,583
 
Intangible assets
 
 
(3,975
)
 
 
(7,609
)
 
 
(3,975
)
 
 
(7,609
)
Disallowed capitalized mortgage loan servicing rights
 
 
(788
)
 
 
(857
)
 
 
(788
)
 
 
(857
)
Tier 1 capital
 
 
185,948
 
 
 
144,265
 
 
 
189,777
 
 
 
156,104
 
Qualifying trust preferred securities
 
 
990
 
 
 
10,485
 
 
 
-
 
 
 
-
 
Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets
 
 
17,725
 
 
 
19,797
 
 
 
17,776
 
 
 
19,764
 
Total risk-based capital
 
$
204,663
 
 
$
174,547
 
 
$
207,553
 
 
$
175,868
 
Actual capital ratios to minimum ratios imposed by board resolution
Set forth below are the actual capital ratios of our Bank as of December 31, 2012, the minimum capital ratios imposed by the Board resolutions, and the minimum ratios necessary to be considered "well-capitalized" under federal regulatory standards:

 
 
Independent Bank
Actual as of December 31,
2012
 
 
Minimum Ratios Established by our Board
 
 
Minimum Ratio Required to be Well-Capitalized
 
Total Capital to Risk-Weighted Assets
 
 
14.95
%
 
 
11.00
%
 
 
10.00
%
Tier 1 Capital to Average Total Assets
 
 
8.26
 
 
 
8.00
 
 
 
5.00