In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Sep-30-18 | Sep-30-17 | Sep-30-16 |
| 10-K | 10-K | 10-K | 10-K | 8-K | 10-K | 10-K | 10-K |
Interest income: |
Interest income on loans | 61.6 | 58.2 | 59.8 | 54.6 | 38.7 | 35.5 | 25.8 | 23.4 |
Interest income on investments | 7.8 | 5.9 | 4.8 | 5.8 | | 3.4 | 2.1 | 1.7 |
| 69.4 | 64.0 | 64.5 | 60.4 | 42.5 | 38.9 | 27.9 | 25.1 |
Interest expense: |
Interest on deposits | 6.4 | 5.9 | 10.0 | 12.2 | 6.5 | 5.5 | 4.3 | 4.2 |
Interest on borrowings | 112.0 | | | | | | | |
| 138.1 | 10.4 | 14.3 | 16.9 | 9.7 | 8.6 | 5.6 | 5.0 |
Net interest income | 56.4 | 53.7 | 50.3 | 43.5 | 52.2 | 30.3 | 22.3 | 20.1 |
Provision for loan losses | | | | | 2.2 | | | |
Net interest income after provision for loan losses | 56.4 | 53.7 | 50.3 | 43.5 | 50.1 | 30.3 | 22.3 | 20.1 |
Deposit and loan fees | 2.0 | 1.7 | 1.8 | 2.4 | 2.0 | 1.8 | 1.4 | 1.6 |
Gain on sale of investments, net | | | | | | | 0.1 | 0.1 |
Other non-interest income | 8.4 | 14.1 | 16.6 | 12.6 | 6.0 | 5.6 | 3.2 | 2.2 |
Total non-interest income | 10.4 | 15.8 | 18.4 | 15.0 | 8.0 | 7.4 | 4.8 | 3.9 |
Non-interest expenses | 41.7 | 40.5 | 43.7 | 42.7 | 32.4 | 29.8 | 22.9 | 20.1 |
Pre-tax income before non-recurring items | 23.2 | 28.8 | 17.0 | 0.3 | 6.2 | 6.6 | 3.8 | 3.9 |
Non-recurring items | -0.4 | -0.2 | -0.3 | | | | | |
Pre-tax income | 23.6 | 29.0 | 17.3 | 0.3 | 6.2 | 6.6 | 3.8 | 3.9 |
Income taxes | 5.8 | 7.7 | 4.6 | 0.1 | 2.0 | 2.3 | 1.3 | 1.3 |
Tax rate | 24.7% | 26.6% | 26.4% | 27.0% | 32.3% | 35.2% | 34.6% | 33.3% |
Net income | 17.8 | 21.3 | 12.7 | 0.2 | 4.2 | 4.3 | 2.5 | 2.6 |
Net margin | 26.6% | 30.6% | 18.4% | | 7.2% | 11.2% | 9.2% | 10.7% |
|
Basic EPS | $1.69 | $1.98 | $1.14 | $0.02 | $0.58 | $0.72 | $0.47 | $0.49 |
Diluted EPS | $1.69 | $1.98 | $1.14 | $0.02 | $0.49 | $0.58 | $0.47 | $0.49 |
|
Shares outstanding (basic) | 10.5 | 10.7 | 11.2 | 11.3 | 7.2 | 5.9 | 5.4 | 5.2 |
Shares outstanding (diluted) | 10.5 | 10.7 | 11.2 | 11.3 | 8.6 | 7.3 | 5.4 | 5.2 |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |