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 | 95.5 | 82.5 | 83.7 | 82.5 | 74.4 | 64.9 | 59.9 | 54.0 |
Interest income on investments | 15.4 | 11.2 | 10.2 | 10.6 | 10.1 | 9.1 | 9.0 | 8.9 |
Interest income on repurchase agreements | 0.3 | 0.3 | 0.1 | 0.1 | | | | 0.0 |
| 111.3 | 94.1 | 94.1 | 93.4 | 84.7 | 74.2 | 69.0 | 63.0 |
Interest expense: |
Interest on deposits | 12.6 | 7.3 | 11.7 | 15.0 | 9.3 | 6.5 | 5.4 | 5.0 |
Interest on borrowings | 0.1 | 0.3 | 0.7 | 1.2 | 1.2 | | | |
| 15.6 | 9.4 | 14.3 | 17.9 | 13.3 | 8.7 | 7.3 | 6.0 |
Net interest income | 95.7 | 84.6 | 79.8 | 75.5 | 71.3 | 65.5 | 61.7 | 57.0 |
Provision for loan losses | -0.4 | 1.8 | 7.4 | 6.1 | 4.2 | 4.8 | 5.0 | 3.7 |
Net interest income after provision for loan losses | 96.2 | 82.9 | 72.4 | 69.4 | 67.1 | 60.7 | 56.7 | 53.3 |
Deposit and loan fees | | | | | | | | 6.2 |
Gain on sale of investments, net | 0.7 | 1.1 | 3.2 | 1.9 | 0.2 | 0.2 | | 1.2 |
Other non-interest income | 11.2 | 24.5 | 13.4 | 13.2 | 13.5 | 17.0 | 15.9 | 8.3 |
Total non-interest income | 11.8 | 25.6 | 16.6 | 15.1 | 13.7 | 17.2 | 15.9 | 15.7 |
Non-interest expenses | 62.7 | 55.0 | 54.9 | 55.6 | 52.5 | 51.3 | 48.0 | 46.8 |
Pre-tax income before non-recurring items | 45.4 | 53.5 | 34.2 | 28.9 | 28.3 | 28.9 | 24.6 | 22.2 |
Non-recurring items | | | | | | 2.3 | | |
Pre-tax income | 45.4 | 53.5 | 34.2 | 28.9 | 28.3 | 26.6 | 24.6 | 22.2 |
Income taxes | 7.3 | 10.0 | 4.8 | 3.2 | 3.4 | 8.2 | 5.0 | 4.5 |
Tax rate | 16.0% | 18.7% | 14.1% | 10.9% | 12.0% | 30.7% | 20.4% | 20.3% |
Net income | 38.1 | 43.5 | 29.4 | 25.7 | 24.9 | 18.5 | 19.6 | 17.7 |
Net margin | 35.3% | 40.1% | 33.0% | 30.4% | 30.8% | 23.7% | 27.0% | 25.7% |
|
Basic EPS | $5.28 | $6.01 | $4.00 | $3.47 | $3.37 | $2.50 | $2.65 | $2.36 |
Diluted EPS | $5.28 | $6.01 | $4.00 | $3.47 | $3.37 | $2.50 | $2.65 | $2.36 |
|
Shares outstanding (basic) | 7.2 | 7.2 | 7.3 | 7.4 | 7.4 | 7.4 | 7.4 | 7.5 |
Shares outstanding (diluted) | 7.2 | 7.2 | 7.3 | 7.4 | 7.4 | 7.4 | 7.4 | 7.5 |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |