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 | 135.9 | 133.2 | 131.1 | 122.1 | 111.1 | 96.6 | 85.4 | 77.9 |
Interest income on investments | 19.0 | 15.1 | 13.3 | 13.1 | 10.7 | 8.0 | 6.6 | 5.3 |
| 160.9 | 149.0 | 144.8 | 137.1 | 122.9 | 105.0 | 92.3 | 83.5 |
Interest expense: |
Interest on deposits | 5.7 | 3.9 | 11.6 | 19.9 | 12.8 | 6.0 | 4.5 | 4.1 |
Interest on borrowings | 0.1 | 0.1 | 0.6 | 0.4 | 0.4 | | | |
| 9.1 | 7.5 | 14.7 | 21.3 | 14.1 | 7.5 | 5.5 | 5.2 |
Net interest income | 151.8 | 141.6 | 130.1 | 115.9 | 108.8 | 97.5 | 86.8 | 78.3 |
Provision for loan losses | | | | | 2.3 | 1.4 | 3.0 | 3.3 |
Net interest income after provision for loan losses | 151.8 | 141.6 | 130.1 | 115.9 | 106.6 | 96.1 | 83.8 | 75.0 |
Gain on sale of investments, net | | | | | | | 0.8 | 1.8 |
Other non-interest income | 18.5 | 18.1 | 17.2 | 16.3 | 12.0 | 15.7 | 13.6 | 13.1 |
Total non-interest income | 18.5 | 18.1 | 17.2 | 16.3 | 12.0 | 15.7 | 14.4 | 15.0 |
Non-interest expenses | 108.3 | 102.1 | 93.3 | 86.4 | 80.9 | 76.1 | 70.3 | 65.7 |
Pre-tax income before non-recurring items | 58.2 | 55.8 | 41.6 | 44.6 | 37.7 | 35.6 | 27.9 | 24.3 |
Non-recurring items | 2.0 | | | | | | | |
Pre-tax income | 56.1 | 55.8 | 41.6 | 44.6 | 37.7 | 35.6 | 27.9 | 24.3 |
Income taxes | 13.4 | 13.6 | 10.2 | 10.4 | 8.8 | 16.2 | 9.2 | 8.1 |
Tax rate | 23.9% | 24.4% | 24.4% | 23.3% | 23.4% | 45.6% | 32.8% | 33.4% |
Net income | 42.7 | 42.2 | 31.5 | 34.2 | 28.9 | 19.4 | 18.8 | 16.1 |
Net margin | 25.1% | 26.4% | 21.3% | 25.9% | 24.4% | 17.4% | 19.1% | 17.9% |
|
Basic EPS | $3.53 | $3.51 | $2.64 | $2.90 | $2.47 | $1.68 | $1.71 | $1.56 |
Diluted EPS | $3.52 | $3.50 | $2.64 | $2.89 | $2.46 | $1.66 | $1.70 | $1.55 |
|
Shares outstanding (basic) | 12.1 | 12.0 | 11.9 | 11.8 | 11.7 | 11.6 | 11.0 | 10.3 |
Shares outstanding (diluted) | 12.1 | 12.1 | 11.9 | 11.8 | 11.8 | 11.7 | 11.0 | 10.4 |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |