Regulatory Capital

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Regulatory Capital

13.     Regulatory Capital

Under current capital regulations, the Bank is required to comply with four separate capital adequacy standards and a Capital Conservation Buffer (“CCB”). As of March 31, 2022, the Bank continues to be categorized as “well-capitalized” under the prompt corrective action regulations and continues to exceed all regulatory capital requirements. The CCB for the Bank was 6.13% at March 31, 2022 and December 31, 2021.

Set forth below is a summary of the Bank’s compliance with banking regulatory capital standards.

	March 31, 2022				December 31, 2021
			Percent of				Percent of
	Amount		Assets		Amount		Assets
	(Dollars in thousands)
Tier I (leverage) capital:
Capital level	$	844,429	10.45	%	$	840,105	10.39	%
Requirement to be well capitalized		404,176	5.00			404,366	5.00
Excess		440,253	5.45			435,739	5.39
Common Equity Tier I risk-based capital:
Capital level	$	844,429	13.55	%	$	840,105	13.58	%
Requirement to be well capitalized		405,045	6.50			402,100	6.50
Excess		439,384	7.05			438,005	7.08
Tier I risk-based capital:
Capital level	$	844,429	13.55	%	$	840,105	13.58	%
Requirement to be well capitalized		498,518	8.00			494,892	8.00
Excess		345,911	5.55			345,213	5.58
Total risk-based capital:
Capital level	$	880,754	14.13	%	$	874,400	14.13	%
Requirement to be well capitalized		623,147	10.00			618,615	10.00
Excess		257,607	4.13			255,785	4.13

The Holding Company is subject to the same regulatory capital requirements as the Bank. As of March 31, 2022, the Holding Company continues to be categorized as “well-capitalized” under the prompt corrective action regulations and continues to exceed all regulatory capital requirements. The CCB for the Holding Company at March 31, 2022 and December 31, 2021 was 5.74% and 5.75%, respectively.

Set forth below is a summary of the Holding Company’s compliance with banking regulatory capital standards.

	March 31, 2022				December 31, 2021
			Percent of				Percent of
	Amount		Assets		Amount		Assets
	(Dollars in thousands)
Tier I (leverage) capital:
Capital level	$	731,536	9.05	%	$	726,174	8.98	%
Requirement to be well capitalized		404,150	5.00			404,422	5.00
Excess		327,386	4.05			321,752	3.98
Common Equity Tier I risk-based capital:
Capital level	$	675,434	10.84	%	$	671,494	10.86	%
Requirement to be well capitalized		405,081	6.50			401,836	6.50
Excess		270,353	4.34			269,658	4.36
Tier I risk-based capital:
Capital level	$	731,536	11.74	%	$	726,174	11.75	%
Requirement to be well capitalized		498,562	8.00			494,568	8.00
Excess		232,974	3.74			231,606	3.75
Total risk-based capital:
Capital level	$	892,861	14.33	%	$	885,469	14.32	%
Requirement to be well capitalized		623,202	10.00			618,210	10.00
Excess		269,659	4.33			267,259	4.32