Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] |
Actual capital levels and minimum required levels for ChoiceOne and the Bank were as follows:
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Minimum Required |
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to be Well |
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Minimum Required |
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Capitalized Under |
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for Capital |
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Prompt Corrective |
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(Dollars in thousands) |
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Actual |
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Adequacy Purposes |
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Action Regulations |
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Amount |
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Ratio |
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Amount |
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Ratio |
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Amount |
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Ratio |
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December 31, 2023 |
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ChoiceOne Financial Services Inc. |
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Total capital (to risk weighted assets) |
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$ |
233,840 |
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13.0 |
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% |
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$ |
144,441 |
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8.0 |
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% |
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N/A |
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N/A |
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Common equity Tier 1 capital (to risk weighted assets) |
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185,412 |
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10.3 |
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81,248 |
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4.5 |
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N/A |
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N/A |
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Tier 1 capital (to risk weighted assets) |
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189,912 |
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10.5 |
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108,331 |
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6.0 |
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N/A |
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N/A |
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Tier 1 capital (to average assets) |
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189,912 |
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7.5 |
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101,337 |
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4.0 |
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N/A |
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N/A |
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ChoiceOne Bank |
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Total capital (to risk weighted assets) |
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$ |
224,095 |
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12.4 |
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% |
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$ |
144,274 |
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8.0 |
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% |
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$ |
180,342 |
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10.0 |
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% |
Common equity Tier 1 capital (to risk weighted assets) |
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212,283 |
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11.8 |
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81,154 |
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4.5 |
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117,223 |
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6.5 |
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Tier 1 capital (to risk weighted assets) |
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212,283 |
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11.8 |
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108,205 |
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6.0 |
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144,274 |
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8.0 |
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Tier 1 capital (to average assets) |
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212,283 |
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8.4 |
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101,244 |
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4.0 |
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126,555 |
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5.0 |
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December 31, 2022 |
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ChoiceOne Financial Services Inc. |
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Total capital (to risk weighted assets) |
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$ |
222,006 |
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13.8 |
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% |
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$ |
128,545 |
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8.0 |
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% |
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N/A |
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N/A |
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Common equity Tier 1 capital (to risk weighted assets) |
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177,916 |
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11.1 |
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72,307 |
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4.5 |
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N/A |
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N/A |
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Tier 1 capital (to risk weighted assets) |
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182,416 |
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11.4 |
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96,409 |
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6.0 |
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N/A |
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N/A |
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Tier 1 capital (to average assets) |
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182,416 |
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7.9 |
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92,558 |
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4.0 |
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N/A |
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N/A |
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ChoiceOne Bank |
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Total capital (to risk weighted assets) |
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$ |
208,696 |
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13.0 |
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% |
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$ |
128,294 |
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8.0 |
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% |
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$ |
160,367 |
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10.0 |
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% |
Common equity Tier 1 capital (to risk weighted assets) |
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201,077 |
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12.5 |
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72,165 |
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4.5 |
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104,239 |
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6.5 |
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Tier 1 capital (to risk weighted assets) |
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201,077 |
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12.5 |
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96,220 |
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6.0 |
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128,294 |
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8.0 |
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Tier 1 capital (to average assets) |
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201,077 |
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8.7 |
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92,449 |
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4.0 |
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115,562 |
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5.0 |
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