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Regulatory Matters (Tables)
 3 Months Ended
Mar. 31, 2022
Regulatory Matters [Abstract]  
Actual Capital Amounts and Ratios
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)
  
March 31, 2022
                                    
Total capital to risk-weighted assets
                                    
Consolidated
  
$
499,363
      
14.18
%
  
$
281,788
      
8.00
%
  
NA
    
NA
  
Independent Bank
    
447,698
      
12.71
      
281,707
      
8.00
    
$
352,133
      
10.00
%
                                                 
Tier 1 capital to risk-weighted assets
                                                
Consolidated
  
$
416,199
      
11.82
%
  
$
211,341
      
6.00
%
  
NA
    
NA
  
Independent Bank
    
404,534
      
11.49
      
211,280
      
6.00
    
$
281,707
      
8.00
%
                                                 
Common equity tier 1 capital to risk-weighted assets
                                                
Consolidated
  
$
377,814
      
10.73
%
  
$
158,506
      
4.50
%
  
NA
    
NA
  
Independent Bank
    
404,534
      
11.49
      
158,460
      
4.50
    
$
228,887
      
6.50
%
                                                 
Tier 1 capital to average assets
                                                
Consolidated
  
$
416,199
      
8.81
%
  
$
188,867
      
4.00
%
  
NA
    
NA
  
Independent Bank
    
404,534
      
8.56
      
188,953
      
4.00
    
$
236,191
      
5.00
%
                                                 
December 31, 2021
                                                
Total capital to risk-weighted assets
                                                
Consolidated
  
$
488,495
      
14.53
%
  
$
268,991
      
8.00
%
  
NA
    
NA
  
Independent Bank
    
438,352
      
13.05
      
268,808
      
8.00
    
$
336,011
      
10.00
%
                                                 
Tier 1 capital to risk-weighted assets
                                                
Consolidated
  
$
406,645
      
12.09
%
  
$
201,743
      
6.00
%
  
NA
    
NA
  
Independent Bank
    
396,351
      
11.80
      
201,606
      
6.00
    
$
268,808
      
8.00
%
                                                 
Common equity tier 1 capital to risk-weighted assets
                                                
Consolidated
  
$
368,277
      
10.95
%
  
$
151,307
      
4.50
%
  
NA
    
NA
  
Independent Bank
    
396,351
      
11.80
      
151,205
      
4.50
    
$
218,407
      
6.50
%
                                                 
Tier 1 capital to average assets
                                                
Consolidated
  
$
406,645
      
8.79
%
  
$
185,034
      
4.00
%
  
NA
    
NA
  
Independent Bank
    
396,351
      
8.57
      
185,077
      
4.00
    
$
231,347
      
5.00
%

(1)
These ratios do not reflect a capital conservation buffer of 2.50% at March 31, 2022 and December 31, 2021.

NA - Not applicable
Regulatory Capital

The components of our regulatory capital are as follows:

 
Consolidated
    
Independent Bank
  
   
March 31,
2022
    
December 31,
2021
    
March 31,
2022
    
December 31,
2021
  
   
(In thousands)
  
Total shareholders' equity
 
$
355,449
    
$
398,484
    
$
382,169
    
$
426,558
  
Add (deduct)
                                
Accumulated other comprehensive income for regulatory purposes
    
48,617
   
(6,298
)
    
48,617
   
(6,298
)
Goodwill and other intangibles
    
(31,404
)
    
(31,636
)
    
(31,404
)
    
(31,636
)
CECL (1)
    
5,152
      
7,727
      
5,152
      
7,727
  
Common equity tier 1 capital
    
377,814
      
368,277
      
404,534
      
396,351
  
Qualifying trust preferred securities
    
38,385
      
38,368
      
-
      
-
  
Tier 1 capital
    
416,199
      
406,645
      
404,534
      
396,351
  
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
    
43,164
      
41,850
      
43,164
      
42,001
  
Total risk-based capital
  
$
499,363
    
$
488,495
    
$
447,698
    
$
438,352
  

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