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Regulatory Matters
6 Months Ended
Jun. 30, 2014
Banking and Thrift [Abstract]  
Regulatory Matters
Regulatory Matters
The Company and the Bank are subject to various regulatory capital requirements administered by the federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material and adverse effect on the Company’s and the Bank’s financial statements, such as restrictions on growth or the payment of dividends or other capital distributions or management fees. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.
Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum ratios (set forth in the table below) of total and Tier I capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier I capital (as defined) to average assets (as defined). Management believes that, as of June 30, 2014 and December 31, 2013, the Company and the Bank met all capital adequacy requirements to which they are subject.
As of June 30, 2014 and December 31, 2013, the most recent regulatory notification 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 total risk-based, Tier I risk-based and Tier I leverage ratios as set forth in the table below. There are no conditions or events since the notification that management believes have changed the Bank’s category.
The Company’s and the Bank’s actual capital amounts and ratios are presented in the table below:
 
Actual
 
Required
For Capital
Adequacy Purposes
 
Required
To Be Well
Capitalized under
Prompt Corrective
Action Provisions
 
Amount
 
Ratio
 
Amount
 
Ratio
 
Amount
 
Ratio
 
(Dollars in thousands)
As of June 30, 2014
 
 
 
 
 
 
 
 
 
 
 
Total capital (to risk-weighted assets):
 
 
 
 
 
 
 
 
 
 
 
Company
$
851,349

 
14.90
%
 
$
457,059

 
8.00
%
 
N/A

 
N/A

Bank
$
837,650

 
14.67
%
 
$
456,714

 
8.00
%
 
$
570,893

 
10.00
%
Tier I capital (to risk-weighted assets):
 
 
 
 
 
 
 
 
 
 
 
Company
$
783,006

 
13.71
%
 
$
228,530

 
4.00
%
 
N/A

 
N/A

Bank
$
769,307

 
13.48
%
 
$
228,357

 
4.00
%
 
$
342,536

 
6.00
%
Tier I capital (to average assets):
 
 
 
 
 
 
 
 
 
 
 
Company
$
783,006

 
11.66
%
 
$
268,720

 
4.00
%
 
N/A

 
N/A

Bank
$
769,307

 
11.45
%
 
$
268,649

 
4.00
%
 
$
335,811

 
5.00
%
 
Actual
 
Required
For Capital
Adequacy Purposes
 
Required
To Be Well
Capitalized under
Prompt Corrective
Action Provisions
 
Amount
 
Ratio
 
Amount
 
Ratio
 
Amount
 
Ratio
 
(Dollars in thousands)
As of December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
Total capital (to risk-weighted assets):
 
 
 
 
 
 
 
 
 
 
 
Company
$
819,408

 
14.90
%
 
$
439,687

 
8.00
%
 
N/A

 
N/A

Bank
$
807,620

 
14.70
%
 
$
439,437

 
8.00
%
 
$
549,471

 
10.00
%
Tier I capital (to risk-weighted assets):
 
 
 
 
 
 
 
 
 
 
 
Company
$
751,204

 
13.66
%
 
$
219,844

 
4.00
%
 
N/A

 
N/A

Bank
$
739,416

 
13.46
%
 
$
219,798

 
4.00
%
 
$
329,683

 
6.00
%
Tier I capital (to average assets):
 
 
 
 
 
 
 
 
 
 
 
Company
$
751,204

 
11.97
%
 
$
251,049

 
4.00
%
 
N/A

 
N/A

Bank
$
739,416

 
11.79
%
 
$
250,954

 
4.00
%
 
$
313,687

 
5.00
%