In millions, except per share items | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 | Dec-31-12 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Interest income: |
Interest income on loans | 16.8 | 13.9 | 13.9 | 14.0 | 13.6 | 13.6 | 14.2 | 16.7 |
Interest income on investments | 7.8 | 7.4 | 6.0 | 6.4 | 7.1 | 6.3 | 4.7 | 4.6 |
Interest income on repurchase agreements | 0.0 | 0.3 | | | | | | |
| 24.7 | 21.7 | 19.9 | 20.4 | 20.6 | 19.9 | 18.9 | 21.3 |
Interest on deposits | 2.1 | 1.4 | 0.9 | 0.7 | 0.8 | 1.0 | 1.2 | 1.6 |
Total interest expense | 2.5 | 1.6 | 1.1 | 0.9 | 1.0 | 1.2 | 1.5 | 1.9 |
Net interest income | 23.2 | 20.6 | 19.4 | 20.2 | 20.0 | 18.8 | 17.4 | 19.4 |
Provision for loan losses | 0.7 | 0.2 | 0.5 | -1.3 | | -0.5 | 0.2 | 1.4 |
Net interest income after provision for loan losses | 22.5 | 20.5 | 18.9 | 21.6 | 20.0 | 19.3 | 17.2 | 18.0 |
Deposit and loan fees | 0.6 | 0.5 | 0.5 | 0.5 | 0.5 | 0.6 | 0.6 | 0.7 |
Gain on sale of investments, net | | | | | 0.3 | 0.2 | 0.0 | 0.1 |
Other non-interest income | 1.1 | 1.0 | 1.1 | 1.5 | 1.3 | 1.4 | 1.4 | 2.0 |
Total non-interest income | 1.7 | 1.5 | 1.6 | 2.0 | 2.0 | 2.2 | 2.0 | 2.8 |
Non-interest expenses | 16.8 | 15.5 | 14.0 | 13.8 | 14.1 | 14.9 | 14.9 | 16.7 |
Pre-tax income before non-recurring items | 7.5 | 6.5 | 6.6 | 10.1 | 7.9 | 6.7 | 4.3 | 4.1 |
Non-recurring items | 0.1 | 0.0 | 0.2 | 0.3 | | | | |
Pre-tax income | 7.4 | 6.5 | 6.5 | 9.8 | 7.9 | 6.7 | 4.3 | 4.1 |
Income taxes | 1.9 | 1.6 | 3.3 | 3.4 | 2.7 | 2.3 | 1.3 | 0.9 |
Tax rate | 25.6% | 24.3% | 50.4% | 34.6% | 33.7% | 34.5% | 29.2% | 21.1% |
Net income | 5.5 | 4.9 | 3.2 | 6.4 | 5.3 | 4.4 | 3.1 | 3.2 |
Net margin | 22.7% | 22.3% | 15.6% | 27.1% | 23.9% | 20.3% | 15.9% | 15.4% |
|
Basic EPS | $0.94 | $0.83 | $0.50 | $0.95 | $695.08 | $535.49 | $0.34 | $337.86 |
Diluted EPS | $0.94 | $0.83 | $0.50 | $0.94 | $0.70 | $0.54 | $0.34 | $0.34 |
|
Shares outstanding (basic) | 5.8 | 5.9 | 6.3 | 6.7 | 0.0 | 0.0 | 8.9 | 0.0 |
Shares outstanding (diluted) | 5.9 | 5.9 | 6.4 | 6.8 | 7.6 | 8.1 | 8.9 | 9.5 |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |