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 | 59.2 | 56.1 | 59.3 | 59.0 | 47.5 | 36.6 | 35.6 | 35.3 |
Interest income on investments | 5.8 | 4.5 | 3.9 | 5.3 | 6.4 | 7.4 | 7.7 | 7.0 |
| 65.8 | 61.2 | 63.8 | 65.2 | 54.6 | 44.5 | 43.8 | 42.7 |
Interest expense: |
Interest on deposits | 3.7 | 3.6 | 6.6 | 9.5 | 5.8 | 3.4 | 3.4 | 3.0 |
Interest on borrowings | | | | 1.0 | 0.4 | 0.0 | 0.0 | 0.3 |
| 4.7 | 4.1 | 7.6 | 10.8 | 6.4 | 3.6 | 3.5 | 3.3 |
Net interest income | 61.0 | 57.1 | 56.2 | 54.4 | 48.2 | 40.9 | 40.2 | 39.3 |
Provision for loan losses | 0.3 | -0.3 | 2.0 | 0.2 | 0.9 | 0.2 | 0.9 | 1.4 |
Net interest income after provision for loan losses | 60.8 | 57.4 | 54.2 | 54.2 | 47.2 | 40.6 | 39.3 | 38.0 |
Deposit and loan fees | | | | | 5.6 | 5.2 | 5.0 | 4.9 |
Gain on sale of investments, net | | | | | | | | 0.5 |
Other non-interest income | 14.3 | 16.2 | 15.7 | 12.3 | 5.5 | 5.2 | 5.8 | 4.7 |
Total non-interest income | 14.3 | 16.2 | 15.7 | 12.3 | 11.1 | 10.5 | 10.9 | 10.1 |
Non-interest expenses | 48.1 | 48.0 | 45.8 | 43.5 | 40.5 | 33.9 | 33.3 | 32.4 |
Pre-tax income before non-recurring items | 26.9 | 25.6 | 24.2 | 23.1 | 19.9 | 17.4 | 16.9 | 16.3 |
Non-recurring items | | | | 0.1 | 2.1 | 0.1 | | 0.6 |
Pre-tax income | 26.9 | 25.6 | 24.2 | 23.0 | 17.8 | 17.2 | 16.9 | 15.7 |
Income taxes | 4.8 | 4.6 | 4.1 | 4.1 | 2.9 | 4.3 | 4.4 | 4.2 |
Tax rate | 17.9% | 18.0% | 16.9% | 17.9% | 16.6% | 24.8% | 26.3% | 26.9% |
Net income | 22.1 | 21.0 | 20.1 | 18.9 | 14.8 | 13.0 | 12.5 | 11.5 |
Net margin | 29.5% | 28.5% | 28.7% | 28.4% | 25.5% | 25.4% | 24.9% | 23.9% |
|
Basic EPS | $1.94 | $1.67 | $1.55 | $1.45 | $1.24 | $1.30 | $1.25 | $1.18 |
Diluted EPS | $1.94 | $1.67 | $1.55 | $1.45 | $1.24 | $1.30 | $1.25 | $1.17 |
|
Shares outstanding (basic) | 11.4 | 12.6 | 12.9 | 13.1 | 11.9 | 10.0 | 9.9 | 9.7 |
Shares outstanding (diluted) | 11.4 | 12.6 | 12.9 | 13.1 | 11.9 | 10.0 | 10.0 | 9.8 |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |