Regulatory Capital

6 Months Ended

Jun. 30, 2023

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 June 30, 2023, 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 6.31% and 6.37% at June 30, 2023 and December 31, 2022, respectively.

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

	June 30, 2023
	(As Restated)				December 31, 2022
			Percent of				Percent of
	Amount		Assets		Amount		Assets
	(Dollars in thousands)
Tier I (leverage) capital:
Capital level	$	914,191	10.66	%	$	915,628	10.56	%
Requirement to be well-capitalized		428,900	5.00			433,667	5.00
Excess		485,291	5.66			481,961	5.56
Common Equity Tier I risk-based capital:
Capital level	$	914,191	13.74	%	$	915,628	13.79	%
Requirement to be well-capitalized		432,376	6.50			431,734	6.50
Excess		481,815	7.24			483,894	7.29
Tier I risk-based capital:
Capital level	$	914,191	13.74	%	$	915,628	13.79	%
Requirement to be well-capitalized		532,155	8.00			531,365	8.00
Excess		382,036	5.74			384,263	5.79
Total risk-based capital:
Capital level	$	952,221	14.31	%	$	954,457	14.37	%
Requirement to be well-capitalized		665,194	10.00			664,206	10.00
Excess		287,027	4.31			290,251	4.37

The Company is subject to the same regulatory capital requirements as the Bank. As of June 30, 2023, the 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 Company at June 30, 2023 and December 31, 2022 was 5.05% and 5.25%, respectively.

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

	June 30, 2023
	(As Restated)				December 31, 2022
			Percent of				Percent of
	Amount		Assets		Amount		Assets
	(Dollars in thousands)
Tier I (leverage) capital:
Capital level	$	734,754	8.54	%	$	746,880	8.61	%
Requirement to be well-capitalized		429,936	5.00			433,607	5.00
Excess		304,818	3.54			313,273	3.61
Common Equity Tier I risk-based capital:
Capital level	$	688,820	10.36	%	$	698,258	10.52	%
Requirement to be well-capitalized		432,264	6.50			431,635	6.50
Excess		256,556	3.86			266,623	4.02
Tier I risk-based capital:
Capital level	$	734,754	11.05	%	$	746,880	11.25	%
Requirement to be well-capitalized		532,018	8.00			531,243	8.00
Excess		202,736	3.05			215,637	3.25
Total risk-based capital:
Capital level	$	962,784	14.48	%	$	975,709	14.69	%
Requirement to be well-capitalized		665,022	10.00			664,054	10.00
Excess		297,762	4.48			311,655	4.69