Schedule of compliance with regulatory capital requirements |
The following table presents the Company’s and the Bank’s actual capital ratios as of December 31, 2020 and December 31, 2019, as well as the minimum capital ratios for capital adequacy for the Bank. | | | | | | | | | | | | | | | (Dollars in thousands) | | Actual Ratio | December 31, 2020 | | Amount | | Ratio | Tier 1 Leverage Ratio | | $ | 178,407 | | | 9.28 | % | Common Equity Tier 1 Ratio (CET 1) | | $ | 173,407 | | | 14.10 | % | Tier 1 Risk-Based Capital Ratio | | $ | 178,407 | | | 14.50 | % | Total Risk-Based Capital Ratio | | $ | 191,572 | | | 15.58 | % | | | | | | December 31, 2019 | | | | | Tier 1 Leverage Ratio | | $ | 172,945 | | | 11.38 | % | Common Equity Tier 1 Ratio (CET 1) | | $ | 167,945 | | | 14.55 | % | Tier 1 Risk-Based Capital Ratio | | $ | 172,945 | | | 14.98 | % | Total Risk-Based Capital Ratio | | $ | 182,325 | | | 15.79 | % |
The following table presents the Bank’s regulatory capital ratios as of December 31, 2020 and December 31, 2019. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | | Actual Ratio | | Minimum regulatory requirement (1) | | | | December 31, 2020 | | Amount | | Ratio | | Amount | | Ratio | | | | Tier 1 Leverage Ratio | | $ | 177,269 | | | 9.23 | % | | $ | 76,852 | | | 4.00 | % | | | | Common Equity Tier 1 Ratio (CET 1) | | $ | 177,269 | | | 14.41 | % | | $ | 55,346 | | | 7.00 | % | | | | Tier 1 Risk-Based Capital Ratio | | $ | 177,269 | | | 14.41 | % | | $ | 73,795 | | | 8.50 | % | | | | Total Risk-Based Capital Ratio | | $ | 190,434 | | | 15.48 | % | | $ | 98,394 | | | 10.50 | % | | | | | | | | | | | | | | | | December 31, 2019 | | | | | | | | | | | | Tier 1 Leverage Ratio | | $ | 171,332 | | | 11.27 | % | | $ | 60,810 | | | 4.00 | % | | | | Common Equity Tier 1 Ratio (CET 1) | | $ | 171,332 | | | 14.85 | % | | $ | 51,930 | | | 7.00 | % | | | | Tier 1 Risk-Based Capital Ratio | | $ | 171,332 | | | 14.85 | % | | $ | 69,240 | | | 8.50 | % | | | | Total Risk-Based Capital Ratio | | $ | 180,712 | | | 15.66 | % | | $ | 92,320 | | | 10.50 | % | | | | (1) The minimum regulatory requirement threshold includes the capital conservation buffer of 2.50%. | | | |
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Schedule of computation of basic and diluted earnings per common share |
A reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations is as follows (in thousands, except share and per-share amounts): | | | | | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | | | 2020 | | 2019 | | 2018 | Basic Earnings Per Common Share: | | | | | | | Net income | | $ | 20,347 | | | $ | 21,443 | | | $ | 21,289 | | | | | | | | | | | | | | | | Weighted average shares outstanding | | 12,534,078 | | | 13,415,118 | | | 13,699,823 | | Net income per common share | | $ | 1.62 | | | $ | 1.60 | | | $ | 1.55 | | Diluted Earnings Per Common Share: | | | | | | | Net income | | $ | 20,347 | | | $ | 21,443 | | | $ | 21,289 | | | | | | | | | | | | | | | | Weighted average shares outstanding | | 12,534,078 | | | 13,415,118 | | | 13,699,823 | | Effect of dilutive stock options and warrants | | 42,241 | | | 98,489 | | | 125,185 | | Weighted average shares of common stock and common stock equivalents | | 12,576,319 | | | 13,513,607 | | | 13,825,008 | | Net income per diluted common share | | $ | 1.62 | | | $ | 1.59 | | | $ | 1.54 | |
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