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Regulatory Capital Requirements
3 Months Ended
Mar. 31, 2024
Regulatory Capital Requirements [Abstract]  
Regulatory Capital Requirements

Note 10 – Regulatory Capital Requirements

The following table presents our capital ratios as of March 31, 2024 and December 31, 2023.

    

March 31,
2024

    

December 31,
2023

    

Required for
Capital
Adequacy
Purposes

    

Required
to be Well
Capitalized

 

Total Capital (to risk-weighted assets)

14.17

%  

14.05

%  

8.00

%  

10.00

%

Tier 1 Capital (to risk-weighted assets)

12.92

%  

12.81

%  

6.00

%  

8.00

%

Common Equity Tier 1 Capital (to risk-weighted assets)

12.92

%  

12.81

%  

4.50

%  

6.50

%

Tier 1 Capital (to average assets)

10.08

%  

9.92

%  

4.00

%  

5.00

%

As of March 31, 2024 and December 31, 2023, the Bank was considered “well capitalized” under the regulatory framework for prompt corrective action.