Regulatory Capital

3 Months Ended

Mar. 31, 2024

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, 2024, 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 5.08% and 4.81% at March 31, 2024 and December 31, 2023, respectively.

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

	March 31, 2024				December 31, 2023
			Percent of				Percent of
	Amount		Assets		Amount		Assets
	(Dollars in thousands)
Tier I (leverage) capital:
Capital level	$	829,971	9.40	%	$	825,104	9.47	%
Requirement to be well-capitalized		441,496	5.00			435,792	5.00
Excess		388,475	4.40			389,312	4.47
Common Equity Tier I risk-based capital:
Capital level	$	829,971	12.46	%	$	825,104	12.22	%
Requirement to be well-capitalized		433,032	6.50			438,878	6.50
Excess		396,939	5.96			386,226	5.72
Tier I risk-based capital:
Capital level	$	829,971	12.46	%	$	825,104	12.22	%
Requirement to be well-capitalized		532,962	8.00			540,157	8.00
Excess		297,009	4.46			284,947	4.22
Total risk-based capital:
Capital level	$	871,575	13.08	%	$	864,999	12.81	%
Requirement to be well-capitalized		666,203	10.00			675,196	10.00
Excess		205,372	3.08			189,803	2.81

The Company is subject to the same regulatory capital requirements as the Bank. As of March 31, 2024, 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 March 31, 2024 and December 31, 2023 was 5.02% and 4.93%, respectively.

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

	March 31, 2024				December 31, 2023
			Percent of				Percent of
	Amount		Assets		Amount		Assets
	(Dollars in thousands)
Tier I (leverage) capital:
Capital level	$	734,192	8.32	%	$	737,732	8.47	%
Requirement to be well-capitalized		441,455	5.00			435,748	5.00
Excess		292,737	3.32			301,984	3.47
Common Equity Tier I risk-based capital:
Capital level	$	687,458	10.32	%	$	691,754	10.25	%
Requirement to be well-capitalized		433,192	6.50			438,770	6.50
Excess		254,266	3.82			252,984	3.75
Tier I risk-based capital:
Capital level	$	734,192	11.02	%	$	737,732	10.93	%
Requirement to be well-capitalized		533,160	8.00			540,024	8.00
Excess		201,032	3.02			197,708	2.93
Total risk-based capital:
Capital level	$	965,796	14.49	%	$	967,627	14.33	%
Requirement to be well-capitalized		666,450	10.00			675,030	10.00
Excess		299,346	4.49			292,597	4.33