In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Interest income: |
Interest income on loans | 94.3 | 71.6 | 65.3 | 62.2 | 42.3 | 37.2 | 33.7 | 29.3 |
Interest income on investments | 5.6 | 4.7 | 4.4 | 4.2 | 3.6 | 3.7 | 3.8 | 0.1 |
Interest income on repurchase agreements | | | | | | | | 0.0 |
| 101.1 | 76.8 | 70.2 | 68.3 | 46.4 | 41.2 | 37.7 | 33.7 |
Interest expense: |
Interest on deposits | 9.9 | 5.4 | 8.6 | 12.9 | 6.0 | 4.5 | 3.6 | 3.3 |
Interest on borrowings | 2.2 | 0.8 | 1.0 | 1.1 | 0.1 | 0.1 | | |
| 14.4 | 7.3 | 10.4 | 14.8 | 6.6 | 5.1 | 4.2 | 3.6 |
Net interest income | 115.5 | 84.2 | 80.6 | 53.5 | 39.9 | 36.1 | 33.5 | 30.1 |
Provision for loan losses | | | | 1.1 | 0.3 | 0.2 | 1.1 | 0.6 |
Net interest income after provision for loan losses | 115.5 | 84.2 | 80.6 | 52.4 | 39.5 | 35.9 | 32.4 | 29.4 |
Gain on sale of investments, net | | | | | | | | 0.5 |
Other non-interest income | 15.5 | 17.6 | 16.8 | 11.8 | 10.9 | 10.7 | 11.4 | 10.3 |
Total non-interest income | 15.5 | 17.6 | 16.8 | 11.8 | 10.9 | 10.7 | 11.4 | 10.8 |
Non-interest expenses | 57.2 | 54.2 | 44.4 | 41.5 | 32.1 | 28.7 | 27.4 | 26.1 |
Pre-tax income before non-recurring items | 40.5 | 29.5 | 25.2 | 22.8 | 18.3 | 17.9 | 16.4 | 14.2 |
Non-recurring items | | | | 0.1 | 0.0 | 0.0 | 0.1 | 0.0 |
Pre-tax income | 40.5 | 29.5 | 25.2 | 22.8 | 18.3 | 17.9 | 16.3 | 14.2 |
Income taxes | 8.0 | 6.0 | 5.1 | 4.4 | 3.3 | 5.2 | 4.7 | 3.8 |
Tax rate | 19.7% | 20.3% | 20.3% | 19.2% | 18.1% | 29.0% | 28.5% | 27.0% |
Net income | 32.5 | 23.5 | 20.1 | 18.4 | 14.9 | 12.7 | 11.7 | 10.3 |
Net margin | 24.8% | 23.1% | 20.6% | 28.7% | 29.7% | 27.3% | 26.7% | 25.7% |
|
Basic EPS | $2.48 | $2.03 | $1.82 | $1.67 | $1.63 | $1.39 | $1.28 | $1.13 |
Diluted EPS | $2.48 | $2.03 | $1.82 | $1.67 | $1.63 | $1.39 | $1.28 | $1.13 |
|
Shares outstanding (basic) | 13.1 | 11.6 | 11.1 | 11.0 | 9.2 | 9.2 | 9.1 | 9.2 |
Shares outstanding (diluted) | 13.1 | 11.6 | 11.1 | 11.0 | 9.2 | 9.2 | 9.1 | 9.2 |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |