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Acquired Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Details of the Company’s intangible assets are as follows:

	December 31, 2019					December 31, 2018
(In thousands)	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Assets eligible for amortization:
Customer lists	$	4,778	$	(3,463	)	$	4,288	$	(3,071	)
Patent		72		(20	)		72		(16	)
Non-compete agreements		332		(332	)		332		(326	)
Software		2,844		(358	)		234		(234	)
Trade Name		190		(3	)		—		—
Other		500		(259	)		500		(225	)
Unamortized intangible assets:
Goodwill ⁽¹⁾		14,489		(227	)		12,796		(227	)
Total intangible assets	$	23,205	$	(4,662	)	$	18,222	$	(4,099	)

⁽¹⁾	Amortization through December 31, 2001 prior to adoption of FASB ASC 350.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and due from banks	$ 18,076	$ 15,042
Interest-bearing deposits in other financial institutions	172,422	179,281
Federal funds sold and other short-term investments	13,456	36,610
Cash and cash equivalents	203,954	230,933
Securities available-for-sale, at fair value	422,665	441,534
Loans	772,638	721,587
Less allowance for loan losses	10,556	10,225
Loans, net	762,082	711,362
Payments in excess of funding	206,158	160,777
Premises and equipment, net	20,527	22,031
Investments in bank-owned life insurance	17,599	17,384
Goodwill	14,262	12,569
Other intangible assets, net	4,281	1,554
Other assets	112,715	97,032
Total assets	1,764,243	1,695,176
Deposits
Noninterest-bearing	351,091	313,258
Interest-bearing	406,045	408,668
Total deposits	757,136	721,926
Accounts and drafts payable	684,295	694,360
Short-term borrowings	18,000
Other liabilities	60,622	49,042
Total liabilities	1,520,053	1,465,328
Shareholders' Equity:
Preferred stock, par value $.50 per share; 2,000,000 shares authorized and no shares issued
Common stock, par value $.50 per share; 40,000,000 shares authorized, 15,505,772 shares issued at December 31, 2019 and 2018.	7,753	7,753
Additional paid-in capital	205,397	205,770
Retained earnings	90,341	75,171
Common shares in treasury, at cost (991,406 and 894,486 shares at December 31, 2019 and 2018, respectively)	(45,381)	(39,974)
Accumulated other comprehensive loss	(13,920)	(18,872)
Total shareholders' equity	244,190	229,848
Total liabilities and shareholders' equity	$ 1,764,243	$ 1,695,176

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Comprehensive income:
Net income	$ 30,404	$ 30,268	$ 25,014
Other comprehensive income (loss):
Net unrealized gain (loss) on securities available-for-sale	13,429	(7,534)	6,637
Tax effect	(3,196)	1,793	(2,465)
Reclassification adjustments for (gains) losses included in net income	(19)	42
Tax effect	5	(10)
FASB ASC 715 pension adjustment	(6,903)	341	(1,311)
Tax effect	1,643	(81)	487
Foreign currency translation adjustments	(7)	(103)	161
Other comprehensive income (loss)	4,952	(5,552)	3,509
Total comprehensive income	$ 35,356	$ 24,716	$ 28,523

Investment in Securities (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Investments, Debt and Equity Securities [Abstract]
Number of securities that had an unrealized loss	9	136
Number of securities that had an unrealized loss, greater than 12 months	7	61
Percentage of total securities	3.00%	43.00%
Premium related to purchase of state and political subdivisions	$ 6,408	$ 6,857
Securities pledged as collateral	0
Proceeds from sales of securities available-for-sale	4,648	58,520
Gross realized gains	19	180	0
Gross realized losses	$ 0	$ 222	$ 0

Employee Benefit Plans (Schedule of Assumptions used to Determine the Projected Benefit Obligation) (Details) - Defined Benefit Plan [Member]

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Defined Benefit Plan Disclosure [Line Items]

Weighted average discount rate

3.30%

4.30%

3.75%

Rate of increase in compensation levels

^[1]

[1]	6.0% graded down to 3.25% over the first seven years of service.

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Cash dividends, per share	$ 1.05	$ 0.89	$ 0.72
Stock issued pursuant to stock-based compensation	34,810	33,039	29,378
Stock Issued During Period, Shares, Purchase of Assets	154,593	169,143	50,215

Interest-Bearing Deposits (Schedule of Maturities of Time Deposits) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Due within:
One year	$ 47,881	$ 51,154
Two years	15,813	18,262
Three years	5,584	140
Four years	1,689	983
Five years		1,918
Total	$ 70,967	$ 72,457
Percent of Total One year	67.50%	70.60%
Percent of Total Two years	22.30%	25.20%
Percent of Total Three years	7.80%	0.20%
Percent of Total Four years	2.40%	1.40%
Percent of Total Five years		2.60%
Total	100.00%	100.00%

Employee Benefit Plans (Summary of the Fair Value Measurements by Type of Asset) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Total	$ 94,634	$ 74,580	$ 81,427
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	462	423
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	94,172	74,157
Cash [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	462	423
Cash [Member] \| Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	462	423
Cash [Member] \| Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total
U.S. Small/Mid Cap Growth [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	4,491	3,405
U.S. Small/Mid Cap Growth [Member] \| Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total
U.S. Small/Mid Cap Growth [Member] \| Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	4,491	3,405
Non-U.S. Core [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	23,975	18,398
Non-U.S. Core [Member] \| Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total
Non-U.S. Core [Member] \| Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	23,975	18,398
U.S. Large Cap Passive [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	13,523	10,471
U.S. Large Cap Passive [Member] \| Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total
U.S. Large Cap Passive [Member] \| Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	13,523	10,471
Emerging Markets [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	4,559	3,217
Emerging Markets [Member] \| Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total
Emerging Markets [Member] \| Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	4,559	3,217
U.S. Core Opportunistic [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	27,046	10,609
U.S. Core Opportunistic [Member] \| Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total
U.S. Core Opportunistic [Member] \| Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	27,046	10,609
U.S. Passive [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	15,255	23,827
U.S. Passive [Member] \| Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total
U.S. Passive [Member] \| Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	15,255	23,827
Opportunistic [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	5,323	4,230
Opportunistic [Member] \| Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total
Opportunistic [Member] \| Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	$ 5,323	$ 4,230

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Percentage holding required to account investments under non-marketable equity investments	20.00%
Right-of-use assets	$ 5,848	$ 7,383
Lease liabilities	$ 6,682	$ 7,808
Building [Member] \| Maximum [Member]
Estimated useful lives	40 years
Leasehold Improvements [Member] \| Minimum [Member]
Estimated useful lives	10 years
Software, Equipment, Furniture and Fixtures [Member] \| Maximum [Member]
Estimated useful lives	7 years
Software, Equipment, Furniture and Fixtures [Member] \| Minimum [Member]
Estimated useful lives	3 years

Interest-Bearing Deposits

12 Months Ended

Dec. 31, 2019

Interest-Bearing Deposits [Abstract]

Interest-Bearing Deposits

Note 7

Interest-Bearing Deposits

Interest-bearing deposits consist of the following:

	December 31,
(In thousands)	2019			2018
Interest-bearing demand deposits	$	322,027		$	322,709
Savings deposits		13,051			13,502
Time deposits:
Less than $100		4,927			4,862
$100 to less than $250		48,353			51,658
$250 or more		17,687			15,937
Total	$	406,045		$	408,668
Weighted average interest rate		1.32	%		1.00	%

Interest on deposits consists of the following:

	December 31,
(In thousands)	2019		2018		2017
Interest-bearing demand deposits	$	3,686	$	2,832	$	1,611
Savings deposits		103		109		79
Time deposits:
Less than $100		905		433		234
$100 to less than $250		216		152		114
$250 or more		281		210		149
Total	$	5,191	$	3,736	$	2,187

The scheduled maturities of time deposits are summarized as follows:

	December 31,
	2019				2018
(In thousands)	Amount		Percent of Total		Amount		Percent of Total
Due within:
One year	$	47,881	67.5	%	$	51,154	70.6	%
Two years		15,813	22.3			18,262	25.2
Three years		5,584	7.8			140	0.2
Four years		1,689	2.4			983	1.4
Five years		─	─			1,918	2.6
Total	$	70,967	100.0	%	$	72,457	100.0	%

Interest-Bearing Deposits (Schedule of Interest-bearing Deposits) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Interest-Bearing Deposits [Abstract]
Interest-bearing demand deposits	$ 322,027	$ 322,709
Savings deposits	13,051	13,502
Time deposits:
Less than $100	4,927	4,862
$100 to less than $250	48,353	51,658
$250 or more	17,687	15,937
Total	$ 406,045	$ 408,668
Weighted average interest rate	1.32%	1.00%

Stock-based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance	1,500,000
Stock option expense	$ 3,144	$ 3,006	$ 2,340
Share-Based Compensation	$ 3,144	$ 3,006	$ 2,339
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	36,812	35,000	31,277
Shares granted, weighted average grant date market value		$ 49.79	$ 49.55
Amortization of restricted stock bonus	$ 1,551	$ 1,571	$ 1,743
Total unrecognized compensation expense	$ 1,438
Total unrecognized compensation expense, weighted average period	1 year 25 days
Total fair value of shares vested	$ 527	$ 1,112	$ 1,389
Fair value of granted shares per share	$ 49.30
Performance-based restricted shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	36,801	35,602	30,388
Vesting period	3 years	3 years	3 years
Fair value of granted shares per share	$ 49.06	$ 49.04	$ 49.33
Expense incurred to grant shares	$ 593
Percentage of financial goal	108.00%
Performance-based restricted shares [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target opportunity for awards to vest	0.00%	0.00%	0.00%
Performance-based restricted shares [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target opportunity for awards to vest	150.00%	150.00%	150.00%
Performance-based restricted shares [Member] \| Transaction One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expense incurred to grant shares	$ 583
Percentage of financial goal	118.00%
Performance-based restricted shares [Member] \| Transaction Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expense incurred to grant shares	$ 674
Percentage of financial goal	117.00%
SARs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense	$ 0
Total intrinsic value of options exercised	$ 2,022	$ 1,110
Average remaining contractual term	2 years 11 months 1 day	3 years 6 months
Outstanding, Aggregate Intrinsic Value	$ 3,908	$ 5,468
Share-Based Compensation	$ 0

Income Taxes (Components of Income Tax Expense (Benefit)) (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Current:

Federal

$ 4,423

$ 8,557

$ 4,250

State

1,392

1,043

1,638

Deferred:

Federal

1,097

(3,404)

4,256

State

150

(117)

(259)

Total income tax expense

$ 1,791

$ 1,787

$ 1,739

$ 1,745

$ 1,502

$ 1,481

$ 1,387

$ 1,709

$ 7,062

^[1]

$ 6,079

^[1]

$ 9,885

^[1]

[1]	Presented on a tax-equivalent basis assuming a tax rate of 21% for 2019 and 2018 and 35% for 2017. The tax-equivalent adjustment was approximately $2,084,000 for 2019, $2,422,000 for 2018, and $5,691,000 for 2017.

Employee Benefit Plans (Schedule of Expected Future Benefits Payable) (Details)	Dec. 31, 2019 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2020	$ 3,098,000
2021	3,367,000
2022	3,766,000
2023	4,196,000
2024	4,488,000
2025-2029	27,343,000
Supplemental Executive Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2020	291,000
2021	344,000
2022	752,000
2023	829,000
2024	826,000
2025-2029	$ 4,055,000

Investment in Securities (Schedule of Investment Securities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Marketable Securities [Line Items]
Fair Value	$ 422,665	$ 441,534
Gross Unrealized Gains	14,234	3,877
Gross Unrealized Losses	169	3,223
Amortized Cost	408,600	440,880
State and Political Subdivisions [Member]
Marketable Securities [Line Items]
Fair Value	324,447	334,717
Gross Unrealized Gains	13,727	3,791
Gross Unrealized Losses		1,806
Amortized Cost	310,720	332,732
U.S. government agencies [Member]
Marketable Securities [Line Items]
Fair Value	97,718	104,822
Gross Unrealized Gains	507	86
Gross Unrealized Losses	169	1,417
Amortized Cost	97,380	106,153
Certificates of Deposit [Member]
Marketable Securities [Line Items]
Fair Value	500	1,995
Gross Unrealized Gains
Gross Unrealized Losses
Amortized Cost	$ 500	$ 1,995

Common Stock and Earnings per Share (Schedule of Common Stock Outstanding) (Details)	12 Months Ended
	Dec. 31, 2019 shares
Earnings Per Share [Abstract]
Shares outstanding at January 1	14,611,286
Issuance of common stock:
Employee restricted stock grants	18,121
Employee SARs exercised	27,274
Directors' compensation	12,278
Shares repurchased	(154,593)
Shares outstanding at December 31	14,514,366

Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Note 16

Revenue from Contracts with Customers

On January 1, 2018, the Company adopted FASB ASC 606 and selected the modified retrospective transition method. The adoption of this new standard did not impact the Company’s results of operations or balance sheet and there was no cumulative effect of initially applying this new revenue standard to the opening balance of retained earnings. Since interest income on loans and securities are both excluded from this topic, a significant portion of the Company’s revenues are not subject to the new guidance. The services that fall within the scope of FASB ASC 606 are presented within fee revenue and other income in the consolidated statements of income and are recognized as revenue as the performance obligation to the customer is satisfied. Services within the scope of FASB ASC 606 include invoice processing and payment fees, bank service fees, and OREO.

Invoice processing fees – The Company earns fees on a per-item or monthly basis for the invoice processing services rendered on behalf of customers. Per-item fees are recognized at the point in time when the performance obligation is satisfied. Monthly fees are earned over the course of a month, representing the period over which the performance obligation is satisfied. The Company also earns interest income from the balances generated during the payment cycle for the invoices processed, which is an integral component of the Company’s compensation for invoice processing services but is out-of-scope of FASB ASC 606. The contracts have no significant impact related to variable consideration and no significant financing components.

Invoice payment fees – The Company earns fees on a transaction level basis for invoice payment services when making customer payments. Fees are recognized at the point in time when the payment transactions are made, which is when the performance obligation is satisfied. The contracts have no significant impact related to variable consideration and no significant financing components.

Bank service fees – Revenue from service fees consists of service charges and fees on deposit accounts under depository agreements with customers to provide access to deposited funds. Service charges on deposit accounts are transaction based fees that are recognized at the point in time when the performance obligation is satisfied. Service charges are recognized on a monthly basis representing the period over which the performance obligation is satisfied. The contracts have no significant impact related to variable consideration and no significant financing components.

OREO – The Company currently does not have any OREO and has not in recent years. Net gains or losses would be recorded when other real estate is sold to a third party and substantially all of the consideration for the transfer of property is received.

Table of Contents

	For the Years Ended December 31,
(In thousands)	2019		2018		2017
Fee revenue and other income
In-scope of FASB ASC 606
Invoice processing fees	$	81,329	$	78,461	$	72,961
Invoice payment fees		26,624		23,720		20,361
Information services payment and processing revenue		107,953		102,181		93,322
Bank service fees		1,386		1,335		1,349
Fee revenue (in-scope of FASB ASC 606)		109,339		103,516		94,671
Other income (out-of-scope of FASB ASC 606)		730		560		841
Total fee revenue and other income		110,069		104,076		95,512

Net interest income after provision for loan losses (out-of-scope of FASB ASC 606)		47,166		44,190		39,790
Total net revenue	$	157,235	$	148,266	$	135,302

Industry Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Summary of Segment Information

Summarized information about the Company’s operations in each industry segment for the years ended December 31, 2019, 2018 and 2017, is as follows:

(In thousands)		Information Services		Banking Services		Corporate, Eliminations and Other			Total
2019
Fee income from customers	$	108,882	$	1,660	$	(473	)	$	110,069
Interest income*		25,616		30,646		(1,568	)		54,694
Interest expense		—		5,193		—			5,193
Intersegment income (expense)		—		2,107		(2,107	)		—
Depreciation and amortization		4,659		131		—			4,790
Tax-equivalized pre-tax income*		28,542		13,048		(2,040	)		39,550
Goodwill		12,433		1,829		—			14,262
Other intangible assets, net		1,142		3,139		—			4,281
Total Assets		844,483		915,341		4,419			1,764,243
Funding Sources		676,068		592,905		—			1,268,973

2018
Fee income from customers	$	102,839	$	1,307	$	(70	)	$	104,076
Interest income*		25,074		27,770		(2,496	)		50,348
Interest expense		—		3,736		—			3,736
Intersegment income (expense)		—		1,880		(1,880	)		—
Depreciation and amortization		4,254		142		—			4,396
Tax-equivalized pre-tax income*		27,763		13,571		(2,566	)		38,768
Goodwill		12,433		136		—			12,569
Other intangible assets, net		1,554		—		—			1,554
Total Assets		826,201		886,291		(17,316	)		1,695,176
Funding Sources		642,733		572,653		—			1,215,386
2017
Fee income from customers	$	93,484	$	1,547	$	481		$	95,512
Interest income*		23,813		27,376		(3,522	)		47,667
Interest expense		—		2,187		—			2,187
Intersegment income (expense)		—		1,362		(1,362	)		—
Depreciation and amortization		3,902		149		—			4,051
Tax-equivalized pre-tax income*		28,168		15,460		(3,039	)		40,589
Goodwill		12,433		136		—			12,569
Other intangible assets, net		1,996		—		—			1,996
Total Assets		854,214		830,672		(27,677	)		1,603,209
Funding Sources		604,493		598,986		—			1,203,479

*	Presented on a tax-equivalent basis assuming a tax rate of 21% for 2019 and 2018 and 35% for 2017. The tax-equivalent adjustment was approximately $2,084,000 for 2019, $2,422,000 for 2018, and $5,691,000 for 2017.

Interest-Bearing Deposits (Schedule of Interest on Deposits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest-Bearing Deposits [Abstract]
Interest-bearing demand deposits	$ 3,686	$ 2,832	$ 1,611
Savings deposits	103	109	79
Time deposits:
Less than $100	905	433	234
$100 to less than $250	216	152	114
$250 or more	281	210	149
Total	$ 5,191	$ 3,736	$ 2,187

Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Contingencies

Note 15

Contingencies

The Company and its subsidiaries are not involved in any pending proceedings other than ordinary routine litigation incidental to their businesses. Management believes none of these proceedings, if determined adversely, would have a material effect on the business or financial condition of the Company or its subsidiaries.

Capital Requirements and Regulatory Restrictions (Narrative) (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Unappropriated retained earnings	$ 42,487

Investment in Securities (Schedule of Amortized Cost and Fair Value of Investment Securities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Amortized Cost, Due in 1 year or less	$ 51,219
Amortized Cost, Due after 1 year through 5 years	97,799
Amortized Cost, Due after 5 years through 10 years	222,143
Amortized Cost, Due after 10 years	37,439
Amortized Cost, No stated maturity
Amortized Cost, Total	408,600
Fair Value, Due in 1 year or less	51,485
Fair Value, Due after 1 year through 5 years	100,179
Fair Value, Due after 5 years through 10 years	233,289
Fair Value, Due after 10 years	37,712
Fair Value, No stated maturity
Available-for-sale Securities, Total	$ 422,665	$ 441,534

Disclosures about Fair Value of Financial Instruments (Summary of the Company's Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Cash and cash equivalents, Carrying Amount	$ 203,954	$ 230,933	$ 228,110	$ 266,743
Investment in securities, Carrying Amount	422,665	441,534
Loans, net, Carrying Amount	762,082	711,362
Accrued interest receivable, Carrying Amount	6,706	7,069
Assets, Carrying Amount	1,395,407	1,390,898
Cash and cash equivalents, Fair Value	203,954	230,933
Investment in securities, Fair Value	422,665	441,534
Loans, net, Fair Value	776,653	711,090
Accrued interest receivable, Fair Value	6,706	7,069
Assets, Fair Value	1,409,978	1,390,626
Deposits, Carrying Amount	757,136	721,926
Accounts and drafts payable, Carrying Amount	684,295	694,360
Accrued interest payable, Carrying Amount	103	91
Liabilities, Carrying Amount	1,441,534	1,416,377
Deposits, Fair Value	757,790	722,018
Accounts and drafts payable, Fair Value	684,295	694,360
Accrued interest payable, Fair Value	103	91
Liabilities, Fair Value	$ 1,442,188	$ 1,416,469

Loans (Narrative) (Details) - USD ($)	12 Months Ended
Loans (Narrative) (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Impaired loans, ALLL	$ 0	$ 0
Nonaccrual loans	0	0
Delinquent loans still accruing interest	0	0
Loans classified as troubled debt restructuring	0	0
Average balance of impaired loans	0	0	$ 166,000
Income recognized on nonaccrual loans under original terms of contract	0	0	24,000
Income recognized on nonaccrual loans	0	0	$ 17,000
Foreclosed loans value	0	0
Fair value of impaired loan	0	0
Loans to affiliates	$ 167,429	$ 278,153

Condensed Financial Information of Parent Company (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheet

Following are the condensed balance sheets of the Company (parent company only) and the related condensed statements of income and cash flows.

	Condensed Balance Sheets December 31,
(In thousands)	2019		2018
Assets
Cash and due from banks	$	17,032	$	35,735
Short-term investments		3,223		35,201
Securities available-for-sale, at fair value		422,665		441,534
Loans, net		45,187		20,188
Payments in excess of funding		206,158		160,777
Investments in subsidiaries		145,400		130,231
Premises and equipment, net		19,940		21,358
Other assets		137,226		117,374
Total assets	$	996,831	$	962,398
Liabilities and Shareholders’ Equity
Liabilities:
Accounts and drafts payable	$	683,485	$	693,026
Short-term borrowings		18,000		—
Other liabilities		50,987		39,362
Total liabilities		752,472		732,388
Total shareholders’ equity		244,359		230,010
Total liabilities and shareholders’ equity	$	996,831	$	962,398

Schedule of Condensed Statements of Income

	Condensed Statements of Income For the Years Ended December 31,

(In thousands)	2019		2018			2017
Income from subsidiaries – management fees	$	2,599	$	2,668		$	2,172
Information services revenue		106,198		100,628			93,133
Net interest income after provision		15,713		14,159			13,217
Gain (loss) on sales of investment securities		19		(42	)		—
Other income		518		456			483
Total income		125,047		117,869			109,005
Expenses:
Salaries and employee benefits		81,432		77,946			70,409
Other expenses		26,136		23,442			20,333
Total expenses		107,568		101,388			90,742
Income before income tax and equity in undistributed income of subsidiaries		17,479		16,481			18,263
Income tax expense		2,860		1,788			4,394
Income before undistributed income of subsidiaries		14,619		14,693			13,869
Equity in undistributed income of subsidiaries		15,785		15,575			11,145
Net income	$	30,404	$	30,268		$	25,014

Schedule of Condensed Statements of Cash Flows

	Condensed Statements of Cash Flows For the Years Ended December 31,
(In thousands)	2019			2018			2017
Cash flows from operating activities:
Net income	$	30,404		$	30,268		$	25,014
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed income of subsidiaries		(15,785	)		(15,575	)		(11,145	)
Net change in other assets		(6,289	)		(1,012	)		(7,257	)
Net change in other liabilities		9,474			3,829			10,118
Stock-based compensation expense		3,144			2,583			1,743
Other, net		6,104			10,242			9,219
Net cash provided by operating activities		27,052			30,335			27,692
Cash flows from investing activities:
Net decrease (increase) in securities		26,150			14,615			(80,621	)
Net (increase) decrease in loans		(24,999	)		(7,949	)		34,944
Net increase in payments in excess of funding		(45,381	)		(21,674	)		(33,756	)
Purchases of premises and equipment, net		(2,637	)		(4,211	)		(4,020	)
Asset acquisition of Gateway Giving, LLC		(2,833	)		—			—
Net cash used in investing activities		(49,700	)		(19,219	)		(83,453	)
Cash flows from financing activities:
Net (decrease) increase in accounts and drafts payable		(21,875	)		(22,316	)		20,397
Short-term borrowings		18,000			—			—
Cash dividends paid		(15,234	)		(13,177	)		(10,675	)
Purchase of common shares for treasury		(7,799	)		(8,838	)		(2,270	)
Other financing activities, net		(1,125	)		(635	)		(267	)
Net cash (used in) provided by financing activities		(28,033	)		(44,966	)		7,185
Net decrease in cash and cash equivalents		(50,681	)		(33,850	)		(48,576	)
Cash and cash equivalents at beginning of year		70,936			104,786			153,362
Cash and cash equivalents at end of year	$	20,255		$	70,936		$	104,786

Premises and Equipment (Summary of Premises and Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 52,336	$ 56,897
Less accumulated depreciation	31,809	34,866
Total	20,527	22,031
Land [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	873	873
Building [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	14,763	14,684
Leaseholds and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	1,843	2,537
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	12,104	16,332
Software [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	3,973	5,043
Internally Developed Software [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 18,780	$ 17,428

Employee Benefit Plans (Schedule of Projected Benefit Obligation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Projected benefit obligation:
Balance, January 1	$ 96,401	$ 98,790
Service cost	3,554	4,017
Interest cost	4,103	3,703
Actuarial loss (gain)	18,334	(7,768)
Benefits paid	(2,565)	(2,341)
Balance, December 31	119,827	96,401
Plan assets:
Fair value, January 1	74,580	81,427
Actual return	15,719	(4,506)
Employer contribution	6,900
Benefits paid	(2,565)	(2,341)
Fair value, December 31	94,634	74,580
Funded status:
Accrued pension liability	$ (25,192)	$ (21,821)

Condensed Financial Information of Parent Company (Schedule of Statements of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 6,371	$ 8,186	$ 7,684	$ 8,163	$ 7,057	$ 7,610	$ 7,509	$ 8,092	$ 30,404	$ 30,268	$ 25,014
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Stock-based compensation expense									3,144	3,006	2,339
Other, net									(1,073)	(5,794)	(4,127)
Net cash provided by operating activities									42,126	48,335	38,890
Cash flows from investing activities:
Net decrease (increase) in securities										(82,022)	(124,777)
Net (increase) decrease in loans									(50,970)	(35,336)	(21,335)
Net increase in payments in excess of funding									(45,381)	(21,674)	(33,756)
Purchases of premises and equipment, net									(2,723)	(4,399)	(4,127)
Asset acquisition of Gateway Giving, LLC									(2,833)
Net cash used in investing activities									(75,757)	(46,795)	(139,839)
Cash flows from financing activities:
Net (decrease) increase in accounts and drafts payable									(22,400)	(19,595)	19,601
Short-term borrowings									18,000
Cash dividends paid									(15,234)	(13,177)	(10,675)
Purchase of common shares of treasury									(7,799)	(8,838)	(2,270)
Other financing activities									(1,125)	(945)	(467)
Net cash provided by financing activities									6,652	1,283	62,316
Net increase (decrease) in cash and cash equivalents									(26,979)	2,823	(38,633)
Cash and cash equivalents at beginning of year				230,933				228,110	230,933	228,110	266,743
Cash and cash equivalents at end of year	203,954				230,933				203,954	230,933	228,110
Parent Company [Member]
Cash flows from operating activities:
Net income									30,404	30,268	25,014
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Equity in undistributed income of subsidiaries									(15,785)	(15,575)	(11,145)
Net change in other assets									(6,289)	(1,012)	(7,257)
Net change in other liabilities									9,474	3,829	10,118
Stock-based compensation expense									3,144	2,583	1,743
Other, net									6,104	10,242	9,219
Net cash provided by operating activities									27,052	30,335	27,692
Cash flows from investing activities:
Net decrease (increase) in securities									26,150	14,615	(80,621)
Net (increase) decrease in loans									(24,999)	(7,949)	34,944
Net increase in payments in excess of funding									(45,381)	(21,674)	(33,756)
Purchases of premises and equipment, net									(2,637)	(4,211)	(4,020)
Asset acquisition of Gateway Giving, LLC									(2,833)
Net cash used in investing activities									(49,700)	(19,219)	(83,453)
Cash flows from financing activities:
Net (decrease) increase in accounts and drafts payable									(21,875)	(22,316)	20,397
Short-term borrowings									18,000
Cash dividends paid									(15,234)	(13,177)	(10,675)
Purchase of common shares of treasury									(7,799)	(8,838)	(2,270)
Other financing activities									(1,125)	(635)	(267)
Net cash provided by financing activities									(28,033)	(44,966)	7,185
Net increase (decrease) in cash and cash equivalents									(50,681)	(33,850)	(48,576)
Cash and cash equivalents at beginning of year				$ 70,936				$ 104,786	70,936	104,786	153,362
Cash and cash equivalents at end of year	$ 20,255				$ 70,936				$ 20,255	$ 70,936	$ 104,786

Employee Benefit Plans

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Employee Benefit Plans

Note 10

Employee Benefit Plans

Defined Benefit Plan

The Company has a noncontributory defined-benefit pension plan (the “Plan”), which covers eligible employees. Effective December 31, 2016, the Plan was closed to all new participants. The Company accrues and makes contributions designed to fund normal service costs on a current basis using the projected unit credit with service proration method to amortize prior service costs arising from improvements in pension benefits and qualifying service prior to the establishment of the Plan over a period of approximately 30 years.

A summary of the activity in the Plan’s projected benefit obligation, assets, funded status and amounts recognized in the Company’s consolidated balance sheets is as follows:

Table of Contents

(In thousands)	2019			2018
Projected benefit obligation:
Balance, January 1	$	96,401		$	98,790
Service cost		3,554			4,017
Interest cost		4,103			3,703
Actuarial loss (gain)		18,334			(7,768	)
Benefits paid		(2,565	)		(2,341	)
Balance, December 31	$	119,827		$	96,401
Plan assets:
Fair value, January 1	$	74,580		$	81,427
Actual return		15,719			(4,506	)
Employer contribution		6,900			—
Benefits paid		(2,565	)		(2,341	)
Fair value, December 31	$	94,634		$	74,580
Funded status:
Accrued pension liability	$	(25,192	)	$	(21,821	)

The following represent the major assumptions used to determine the projected benefit obligation of the Plan. For 2019 and 2018, the Plan’s expected benefit cash flows were discounted using the FTSE Above Median Double-A Curve while in 2017, the Plan’s expected benefit cash flows were discounted using the Citibank Above Median Curve. For 2019, the Pri-2012 Mortality Table and MP-2019 Mortality Improvement Scale were used. For 2018, the RP-2014 Mortality Table and the MP-2018 Mortality Improvement Scale were used. For 2017, the RP-2014 Mortality Table and MP-2017 Mortality Improvement Scale were used.

	2019		2018		2017
Weighted average discount rate	3.30	%	4.30	%	3.75	%
Rate of increase in compensation levels	(a)		(a)		(a)

(a)	6.0% graded down to 3.25% over the first seven years of service.

The accumulated benefit obligation was $103,736,000 and $83,724,000 as of December 31, 2019 and 2018, respectively. During 2019, the Company made a contribution of $6,900,000 to the Plan. The Company has not determined if it will make a contribution to the Plan in 2020. The following pension benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the Plan:

	Amount
2020	$	3,098,000
2021		3,367,000
2022		3,766,000
2023		4,196,000
2024		4,488,000
2025-2029		27,343,000

The Plan’s pension cost included the following components:

	For the Year Ended December 31,
(In thousands)	2019			2018			2017
Service cost – benefits earned during the year	$	3,555		$	4,017		$	3,733
Interest cost on projected benefit obligations		4,103			3,703			3,621
Expected return on plan assets		(4,753	)		(5,202	)		(4,681	)
Net amortization and deferral		1,559			1,522			1,382
Net periodic pension cost	$	4,464		$	4,040		$	4,055

The following represent the major assumptions used to determine the net pension cost of the Plan:

	2019		2018		2017
Weighted average discount rate	4.30	%	3.75	%	4.25	%
Rate of increase in compensation levels	(a	)	(a	)	(a	)
Expected long-term rate of return on assets	6.50	%	6.50	%	6.50	%

(a)	6.0% graded down to 3.25% over the first seven years of service

Table of Contents

For 2019, the RP-2014 Mortality Table and the MP-2018 Mortality Improvement Table were used. For 2018, the RP-2014 Mortality Table and the MP-2017 Mortality Improvement Table were used. For 2017, the RP-2014 Mortality Table and the MP-2016 Mortality Improvement Table were used.

The investment objective for the Plan is to maximize total return with a tolerance for average risk. Asset allocation is a balance between fixed income and equity investments, with a target allocation of approximately 51% fixed income, 19% U.S. equity and 30% non-U.S. equity. Due to volatility in the market, this target allocation is not always desirable and asset allocations can fluctuate between acceptable ranges. The fixed income component is invested in pooled investment grade securities. The equity components are invested in pooled large cap, small/mid cap and non-U.S. stocks. The expected one-year nominal returns and annual standard deviations are shown by asset class below:

Asset Class	% of Total Portfolio		One-Year Nominal Return		Annual Standard Deviation
Core Fixed Income	51	%	3.78	%	3.90	%
Large Cap U.S. Equities	14	%	6.55	%	15.30	%
Small Cap U.S. Equities	5	%	7.58	%	19.00	%
International (Developed)	25	%	7.86	%	17.22	%
International (Emerging)	5	%	10.24	%	25.05	%

Applying appropriate correlation factors between each of the asset classes the long-term rate of return on assets is estimated to be 6.50%.

A summary of the fair value measurements by type of asset is as follows:

	Fair Value Measurements as of December 31,
	2019						2018
(In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)
Cash	$	462	$	462	$	—	$	423	$	423	$	—
Equity securities
U.S. Small/Mid Cap Growth		4,491		—		4,491		3,405		—		3,405
Non-U. S. Core		23,975		—		23,975		18,398		—		18,398
U.S. Large Cap Passive		13,523		—		13,523		10,471		—		10,471
Emerging Markets		4,559		—		4,559		3,217		—		3,217
Fixed Income
U.S. Core		27,046		—		27,046		10,609		—		10,609
U.S. Passive		15,255		—		15,255		23,827		—		23,827
Opportunistic		5,323		—		5,323		4,230		—		4,230
Total	$	94,634	$	462	$	94,172	$	74,580	$	423	$	74,157

Supplemental Executive Retirement Plan

The Company also has an unfunded supplemental executive retirement plan (“SERP”) which covers key executives of the Company whose benefits are limited by the Internal Revenue Service under the Company’s qualified retirement plan. The SERP is a noncontributory plan in which the Company’s subsidiaries make accruals designed to fund normal service costs on a current basis using the same method and criteria as the Plan.

A summary of the activity in the SERP’s projected benefit obligation and amounts recognized in the Company’s consolidated balance sheets is as follows:

	December 31,
(In thousands)	2019			2018
Benefit obligation:
Balance, January 1	$	10,097		$	10,094
Service cost		97			92
Interest cost		408			348
Benefits paid		(262	)		(260	)
Actuarial loss (gain)		1,372			(177	)
Balance, December 31	$	11,712		$	10,097

Table of Contents

The following represent the major assumptions used to determine the projected benefit obligation of the SERP. For 2019 and 2018, the SERP’s expected benefit cash flows were discounted using the FTSE Above Median Double-A Curve. For 2017, the Citigroup Above Median Curve was used.

	2019		2018		2017
Weighted average discount rate	3.00	%	4.10	%	3.50	%
Rate of increase in compensation levels	(a)		(a)		(a)

(a)	6.00% graded down to 3.25% over the first seven years of service.

The accumulated benefit obligation was $10,485,000 and $8,830,000 as of December 31, 2019 and 2018, respectively. Since this is an unfunded plan, there are no plan assets. Benefits paid were $262,000 in 2019, $260,000 in 2018, and $247,000 in 2017. Expected future benefits payable by the Company over the next ten years are as follows:

	Amount
2020	$	291,000
2021		344,000
2022		752,000
2023		829,000
2024		826,000
2025-2029		4,055,000

The SERP’s pension cost included the following components:

	For the Year Ended December 31,
(In thousands)	2019		2018		2017
Service cost – benefits earned during the year	$	97	$	92	$	143
Interest cost on projected benefit obligations		408		348		360
Net amortization and deferral		276		581		324
Net periodic pension cost	$	781	$	1,021	$	827

The pretax amounts in accumulated other comprehensive loss as of December 31 were as follows:

	The Plan				SERP
(In thousands)	2019		2018		2019		2018
Prior service cost	$	—	$	—	$	—	$	—
Net actuarial loss		29,387		23,580		2,724		1,629
Total	$	29,387	$	23,580	$	2,724	$	1,629

The estimated pretax prior service cost and net actuarial loss in accumulated other comprehensive loss at December 31, 2019 expected to be recognized as components of net periodic benefit cost in 2020 for the Plan are $0 and $1,890,000, respectively. The estimated pretax prior service cost and net actuarial loss in accumulated other comprehensive loss at December 31, 2019 expected to be recognized as components of net periodic benefit cost in 2020 for the SERP are $0 and $112,000, respectively.

The Company also maintains a noncontributory profit sharing program, which covers most of its employees. Employer contributions are calculated based upon formulas which relate to current operating results and other factors. Profit sharing expense recognized in personnel expense in the consolidated statements of income in 2019, 2018, and 2017 was $6,841,000, $6,810,000, and $5,799,000, respectively.

The Company also sponsors a defined contribution 401(k) plan to provide additional retirement benefits to substantially all employees. Contributions under the 401(k) plan for 2019, 2018 and 2017 were $1,378,000, $1,109,000, and $925,000, respectively.

Employee Benefit Plans (Schedule of SERP's Pension Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	$ 3,554	$ 4,017
Interest cost on projected benefit obligations	4,103	3,703
Supplemental Executive Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	97	92	$ 143
Interest cost on projected benefit obligations	408	348	360
Net amortization and deferral	276	581	324
Net periodic pension cost	$ 781	$ 1,021	$ 827

SUPPLEMENTARY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2019

Supplemental Income Statement Elements [Abstract]

Schedule of Quarterly Financial Information

(In thousands except per share data)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		YTD
2019
Fee revenue and other income	$	27,013	$	27,372	$	28,262	$	27,422	$	110,069
Interest income		12,897		13,327		13,666		12,719		52,609
Interest expense		1,290		1,305		1,392		1,206		5,193
Net interest income		11,607		12,022		12,274		11,513		47,416
Provision for loan losses		250		—		—		—		250
Operating expense		28,462		29,971		30,563		30,773		119,769
Income tax expense		1,745		1,739		1,787		1,791		7,062
Net income	$	8,163	$	7,684	$	8,186	$	6,371	$	30,404
Net income per share:
Basic earnings per share	$	.56	$	.53	$	.57	$	.44	$	2.11
Diluted earnings per share		.55		.52		.56		.43		2.07
2018
Fee revenue and other income	$	25,374	$	25,640	$	26,435	$	26,627	$	104,076
Interest income		11,288		11,513		12,215		12,910		47,926
Interest expense		679		794		1,029		1,234		3,736
Net interest income		10,609		10,719		11,186		11,676		44,190
Provision for loan losses		—		—		—		—		—
Operating expense		26,182		27,463		28,530		29,744		111,919
Income tax expense		1,709		1,387		1,481		1,502		6,079
Net income	$	8,092	$	7,509	$	7,610	$	7,057	$	30,268
Net income per share:
Basic earnings per share	$	.55	$	.51	$	.52	$	.48	$	2.06
Diluted earnings per share		.54		.50		.51		.47		2.03

Stock-based Compensation (Schedule of SARs Oustanding) (Details) - SARs [Member]	12 Months Ended
	Dec. 31, 2019 $ / shares shares
SARs
Balance at December 31, 2018 \| shares	237,121
Exercised \| shares	(81,829)
Forfeited \| shares
Balance at December 31, 2019 \| shares	155,292
Exercisable at December 31, 2019 \| shares	155,292
Weighted Average Exercise Price
Balance at December 31, 2018 \| $ / shares	$ 29.86
Exercised \| $ / shares	24.71
Forfeited \| $ / shares
Balance at December 31, 2019 \| $ / shares	32.58
Exercisable at December 31, 2019 \| $ / shares	$ 32.58

Disclosures about Fair Value of Financial Instruments (Schedule of Commitments to Extend Credit, Standby Letters of Credit and Commercial Letters) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Other Commitments [Line Items]
Long-term Line of Credit	$ 18,000
Commitments To Extend Credit [Member]
Other Commitments [Line Items]
Long-term Line of Credit	197,799	144,010
Standby Letters Of Credit [Member]
Other Commitments [Line Items]
Long-term Line of Credit	13,288	11,368
Commercial Letters Of Credit [Member]
Other Commitments [Line Items]
Long-term Line of Credit	$ 2,755	$ 3,486

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Premises and Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Premises and Equipment

Note 5

Premises and Equipment

A summary of premises and equipment is as follows:

	December 31,
(In thousands)	2019		2018
Land	$	873	$	873
Buildings		14,763		14,684
Leasehold improvements		1,843		2,537
Furniture, fixtures and equipment		12,104		16,332
Purchased software		3,973		5,043
Internally developed software		18,780		17,428
		52,336		56,897
Less accumulated depreciation		31,809		34,866
Total	$	20,527	$	22,031

Total depreciation charged to expense in 2019, 2018 and 2017 amounted to $4,227,000, $3,954,000, and $3,624,000, respectively.

Other Operating Expense (Schedule of Other Operating Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Income and Expenses [Abstract]
Postage and supplies	$ 1,875	$ 2,180	$ 2,087
Promotional expense	3,838	3,344	2,557
Professional fees	2,388	2,170	1,650
Outside service fees	5,529	4,909	4,424
Data processing services	1,283	919	897
Telecommunications	748	778	749
Other	2,404	1,963	1,722
Total other operating expense	$ 18,065	$ 16,263	$ 14,086

Employee Benefit Plans (Schedule of Assumptions used to Determine Projected Benefit Obligation of the SERP) (Details) - Supplemental Executive Retirement Plan [Member]

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Defined Benefit Plan Disclosure [Line Items]

Weighted average discount rate

3.00%

4.10%

3.50%

Rate of increase in compensation levels

^[1]

[1]	6.0% graded down to 3.25% over the first seven years of service.

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Note 13

Income Taxes

The components of income tax expense (benefit) are as follows:

	For the Years Ended December 31,
(In thousands)		2019		2018			2017
Current:
Federal	$	4,423	$	8,557		$	4,250
State		1,392		1,043			1,638
Deferred:
Federal		1,097		(3,404	)		4,256
State		150		(117	)		(259	)
Total income tax expense	$	7,062	$	6,079		$	9,885

A reconciliation of expected income tax expense (benefit), computed by applying the effective federal statutory rate of 21% for each of 2019 and 2018 and 35% for 2017 to income before income tax expense is as follows:

	For the Years Ended December 31,
(In thousands)		2019			2018			2017
Expected income tax expense	$	7,868		$	7,633		$	12,214
(Reductions) increases resulting from:
Tax-exempt income		(1,755	)		(2,009	)		(3,868	)
State taxes, net of federal benefit		1,218			732			896
Share-based compensation adjustment		(281	)		(286	)		(376	)
Adjustment of deferred tax asset or liability for TCJA		—			(74	)		1,824
Other, net		12			83			(805	)
Total income tax expense	$	7,062		$	6,079		$	9,885

Income tax expense in 2019 totaled $7,062,000 compared to $6,079,000 and $9,885,000 in 2018 and 2017, respectively. When measured as a percent of pre-tax income, the Company’s effective tax rate was 19% in 2019, 17% in 2018, and 28% in 2017. The increase in 2019 tax expense was primarily the result of the decrease in the amount of tax-exempt income from municipal bonds, an increase in state tax expense, and a prior year reduction of tax expense recorded from the final analysis and measurement of the TCJA.

Table of Contents

The tax effects of temporary differences which give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:

	December 31,
(In thousands)		2019			2018
Deferred tax assets:
Allowance for loan losses	$	2,452		$	2,376
ASC 715 pension funding liability		7,642			6,000
Net operating loss carryforward ⁽¹⁾		27			50
Supplemental executive retirement plan accrual		2,087			1,968
Stock compensation		1,987			1,673
Total deferred tax assets	$	14,195		$	12,067
Deferred tax liabilities:
Premises and equipment		(2,821	)		(1,937	)
Pension		(974	)		(409	)
Intangible assets		(1,379	)		(1,212	)
Unrealized gain on investment in securities available-for-sale		(3,348	)		(156	)
Other		(196	)		(80	)
Total deferred tax liabilities	$	(8,718	)	$	(3,794	)
Net deferred tax assets	$	5,477		$	8,273

⁽¹⁾

As of December 31, 2019, the Company had approximately $128,000 of net operating loss carry forwards as a result of the acquisition of Franklin Bancorp. The utilization of the net operating loss carry forward is subject to Section 382 of the Internal Revenue Code and limits the Company’s use to approximately $122,000 per year during the carry forward period, which expires in 2024.

A valuation allowance would be provided on deferred tax assets when it is more likely than not that some portion of the assets will not be realized. The Company has not established a valuation allowance at December 31, 2019 or 2018, due to management’s belief that all criteria for recognition have been met, including the expectation of projected future taxable income sufficient to support the realization of deferred tax assets.

The reconciliation of the beginning unrecognized tax benefits balance to the ending balance is presented in the following table:

(In thousands)	2019			2018			2017
Balance at January 1	$	1,403		$	1,632		$	1,623
Changes in unrecognized tax benefits as a result of tax positions taken during a prior year		56			(135	)		(15	)
Changes in unrecognized tax benefits as a result of tax position taken during the current year		171			192			263
Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations		(331	)		(286	)		(239	)
Balance at December 31	$	1,299		$	1,403		$	1,632

At December 31, 2019, 2018 and 2017, the balances of the Company’s unrecognized tax benefits which would, if recognized, affect the Company’s effective tax rate were $1,184,000, $1,272,000 and $1,464,000, respectively. These amounts are net of the offsetting benefits from other taxing jurisdictions.

As of December 31, 2019, 2018 and 2017, the Company had $151,000, $136,000 and $139,000, respectively, in accrued interest related to unrecognized tax benefits.

The Company believes it is reasonably possible that the total amount of unrecognized tax benefits will decrease by approximately $315,000 over the next 12 months. The reduction primarily relates to the anticipated lapse in the statute of limitations. The unrecognized tax benefits relate primarily to apportionment of taxable income among various state tax jurisdictions.

The Company is subject to income tax in the U.S. federal jurisdiction, numerous state jurisdictions, and a foreign jurisdiction. The Company’s federal income tax returns for tax years 2016 through 2018 remain subject to examination by the Internal Revenue Service. In addition, the Company is subject to state tax examinations for the tax years 2015 through 2018. The Company is currently under audit from the Internal Revenue Service for the 2017 tax year.

Income Taxes (Schedule of Reconciliation of Expected Income Tax Expense (Benefit)) (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Expected income tax expense

$ 7,868

$ 7,633

$ 12,214

(Reductions) increases resulting from:

Tax-exempt income

(1,755)

(2,009)

(3,868)

State taxes, net of federal benefit

1,218

732

896

Share-based compensation adjustment

(281)

(286)

(376)

Adjustment of deferred tax asset or liability for TCJA

(74)

1,824

Other, net

(805)

Total income tax expense

$ 1,791

$ 1,787

$ 1,739

$ 1,745

$ 1,502

$ 1,481

$ 1,387

$ 1,709

$ 7,062

^[1]

$ 6,079

^[1]

$ 9,885

^[1]

[1]	Presented on a tax-equivalent basis assuming a tax rate of 21% for 2019 and 2018 and 35% for 2017. The tax-equivalent adjustment was approximately $2,084,000 for 2019, $2,422,000 for 2018, and $5,691,000 for 2017.

Acquired Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Acquired Intangible Assets

Note 6 Acquired Intangible Assets

The Company accounts for intangible assets in accordance with FASB ASC 350, Goodwill and Other Intangible Assets (“ASC 350”), which requires that intangibles with indefinite useful lives be tested annually for impairment and those with finite useful lives be amortized over their useful lives.

In September 2019, the Company acquired the assets of Gateway Giving, LLC and recorded intangible assets of $4,983,000. Those intangible assets were valued at $2,610,000 for software, $1,693,000 for goodwill, $490,000 for the customer list, and $190,000 for the trade name. The amounts for these intangible assets were originally recorded on a provisional basis and have been adjusted upon the completion of a valuation. The goodwill is deductible for tax purposes over 15 years, starting in 2019. The intangible assets and results of Gyve are included in the Banking Services operating segment.

The purchase price of the acquisition consisted of a cash payment of $3,000,000 and a potential earnout of $4,000,000. The Company recorded the earnout component to be $1,983,000. The fair value of the contingent consideration was estimated on the acquisition date as the present value of the expected future contingent payments which were determined using a scenario-based model. Any changes in the estimated fair value of the contingent earn-out consideration, up to the contracted amount, will be reflected in the results of operations in future periods as they are identified.

Table of Contents

Details of the Company’s intangible assets are as follows:

	December 31, 2019					December 31, 2018
(In thousands)	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Assets eligible for amortization:
Customer lists	$	4,778	$	(3,463	)	$	4,288	$	(3,071	)
Patent		72		(20	)		72		(16	)
Non-compete agreements		332		(332	)		332		(326	)
Software		2,844		(358	)		234		(234	)
Trade Name		190		(3	)		—		—
Other		500		(259	)		500		(225	)
Unamortized intangible assets:
Goodwill ⁽¹⁾		14,489		(227	)		12,796		(227	)
Total intangible assets	$	23,205	$	(4,662	)	$	18,222	$	(4,099	)

⁽¹⁾	Amortization through December 31, 2001 prior to adoption of FASB ASC 350.

The customer lists are amortized over 7 and 10 years; the patents over 18 years, the non-compete agreements over 2 and 5 years, software over 3 years and 7 years, the trade name over 20 years and other intangible assets over 15 years. Amortization of intangible assets amounted to $563,000, $442,000, and $427,000 for the years ended December 31, 2019, 2018 and 2017, respectively. Estimated future amortization of intangibles is $859,000 in both 2020 and 2021, $540,000 in both 2022 and 2023, and $498,000 in 2024.

Employee Benefit Plans (Schedule of Assumptions used to Determine Net Pension Cost) (Details)

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Retirement Benefits [Abstract]

Weighted average discount rate

4.30%

3.75%

4.25%

Rate of increase in compensation levels

^[1]

Expected long-term rate of return on assets

6.50%

[1]	6.0% graded down to 3.25% over the first seven years of service.

Investment in Securities (Schedule of the Fair Values of Securities with Unrealized Losses) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Marketable Securities [Line Items]
Estimated fair value less than 12 months	$ 3,801	$ 121,657
Estimated fair value 12 months or more	17,593	98,551
Estimated fair value total	21,394	220,208
Unrealized losses, less than 12 months	12	686
Unrealized losses, 12 months or more	157	2,537
Unrealized losses, total	169	3,223
State and Political Subdivisions [Member]
Marketable Securities [Line Items]
Estimated fair value less than 12 months		91,248
Estimated fair value 12 months or more		60,546
Estimated fair value total		151,794
Unrealized losses, less than 12 months		556
Unrealized losses, 12 months or more		1,250
Unrealized losses, total		1,806
U.S. government agencies [Member]
Marketable Securities [Line Items]
Estimated fair value less than 12 months	3,801	30,409
Estimated fair value 12 months or more	17,593	38,005
Estimated fair value total	21,394	68,414
Unrealized losses, less than 12 months	12	130
Unrealized losses, 12 months or more	157	1,287
Unrealized losses, total	169	1,417
Certificates of Deposit [Member]
Marketable Securities [Line Items]
Estimated fair value less than 12 months
Estimated fair value 12 months or more
Estimated fair value total
Unrealized losses, less than 12 months
Unrealized losses, 12 months or more
Unrealized losses, total

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of Restricted Stock Activity

Changes in restricted shares outstanding for the year ended December 31, 2019 were as follows:

	Shares		Weighted Average Grant Date Fair Value
Balance at December 31, 2018	99,724		$45.48
Granted	36,812		49.30
Vested	(13,264	)	39.76
Balance at December 31, 2019	123,272		$47.24

Schedule of SARs Activity

Changes in SARs outstanding for the year ended December 31, 2019 were as follows:

	SARs		Weighted Average Exercise Price
Balance at December 31, 2018	237,121			$29.86
Exercised	(81,829	)		24.71
Forfeited	—			—
Balance at December 31, 2019	155,292			32.58
Exercisable at December 31, 2019	155,292			$32.58

Condensed Financial Information of Parent Company (Schedule of Condensed Statement of Income) (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Condensed Income Statements, Captions [Line Items]

Information services revenue

$ 107,953

$ 102,181

$ 93,322

Net interest income after provision

47,166

44,190

39,790

Gain (loss) on sales of investment securities

(42)

Total net revenue

157,235

148,266

135,302

Expenses:

Salaries and employee benefits

91,083

85,881

77,339

Other expenses

2,404

1,963

1,722

Total operating expense

$ 30,773

$ 30,563

$ 29,971

$ 28,462

$ 29,744

$ 28,530

$ 27,463

$ 26,182

119,769

111,919

100,403

Income tax expense

1,791

1,787

1,739

1,745

1,502

1,481

1,387

1,709

7,062

^[1]

6,079

^[1]

9,885

^[1]

Net income

$ 6,371

$ 8,186

$ 7,684

$ 8,163

$ 7,057

$ 7,610

$ 7,509

$ 8,092

30,404

30,268

25,014

Parent Company [Member]

Condensed Income Statements, Captions [Line Items]

Income from subsidiaries - management fees

2,599

2,668

2,172

Information services revenue

106,198

100,628

93,133

Net interest income after provision

15,713

14,159

13,217

Gain (loss) on sales of investment securities

(42)

Other income

518

456

483

Total net revenue

125,047

117,869

109,005

Expenses:

Salaries and employee benefits

81,432

77,946

70,409

Other expenses

26,136

23,442

20,333

Total operating expense

107,568

101,388

90,742

Income before income tax and equity in undistributed income of subsidiaries

17,479

16,481

18,263

Income tax expense

2,860

1,788

4,394

Income before undistributed income of subsidiaries

14,619

14,693

13,869

Equity in undistributed income of subsidiaries

15,785

15,575

11,145

Net income

$ 30,404

$ 30,268

$ 25,014

[1]	Presented on a tax-equivalent basis assuming a tax rate of 21% for 2019 and 2018 and 35% for 2017. The tax-equivalent adjustment was approximately $2,084,000 for 2019, $2,422,000 for 2018, and $5,691,000 for 2017.

Premises and Equipment (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Summary of Premises and Equipment

A summary of premises and equipment is as follows:

	December 31,
(In thousands)	2019		2018
Land	$	873	$	873
Buildings		14,763		14,684
Leasehold improvements		1,843		2,537
Furniture, fixtures and equipment		12,104		16,332
Purchased software		3,973		5,043
Internally developed software		18,780		17,428
		52,336		56,897
Less accumulated depreciation		31,809		34,866
Total	$	20,527	$	22,031

SUPPLEMENTARY FINANCIAL INFORMATION (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Supplemental Income Statement Elements [Abstract]

Fee revenue and other income

$ 27,422

$ 28,262

$ 27,372

$ 27,013

$ 26,627

$ 26,435

$ 25,640

$ 25,374

$ 110,069

$ 104,076

$ 95,512

Interest income

12,719

13,666

13,327

12,897

12,910

12,215

11,513

11,288

52,609

47,926

41,977

Interest expense

1,206

1,392

1,305

1,290

1,234

1,029

794

679

5,193

3,736

2,187

Net interest income

11,513

12,274

12,022

11,607

11,676

11,186

10,719

10,609

47,416

44,190

39,790

Provision for loan losses

250

Operating expense

30,773

30,563

29,971

28,462

29,744

28,530

27,463

26,182

119,769

111,919

100,403

Income tax expense

1,791

1,787

1,739

1,745

1,502

1,481

1,387

1,709

7,062

^[1]

6,079

^[1]

9,885

^[1]

Net income

$ 6,371

$ 8,186

$ 7,684

$ 8,163

$ 7,057

$ 7,610

$ 7,509

$ 8,092

$ 30,404

$ 30,268

$ 25,014

Net income per share:

Basic earnings per share

$ 0.44

$ 0.57

$ 0.53

$ 0.56

$ 0.48

$ 0.52

$ 0.51

$ 0.55

$ 2.11

$ 2.06

$ 1.70

Diluted earnings per share

$ 0.43

$ 0.56

$ 0.52

$ 0.55

$ 0.47

$ 0.51

$ 0.50

$ 0.54

$ 2.07

$ 2.03

$ 1.68

[1]	Presented on a tax-equivalent basis assuming a tax rate of 21% for 2019 and 2018 and 35% for 2017. The tax-equivalent adjustment was approximately $2,084,000 for 2019, $2,422,000 for 2018, and $5,691,000 for 2017.

Employee Benefit Plans (Schedule of the Pretax amounts in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Prior service cost
Net actuarial loss	29,387	23,580
Total	29,387	23,580
Supplemental Executive Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Prior service cost
Net actuarial loss	2,724	1,629
Total	$ 2,724	$ 1,629

Condensed Financial Information of Parent Company (Schedule of Condensed Balance Sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets
Cash and due from banks	$ 18,076	$ 15,042
Securities available-for-sale, at fair value	422,665	441,534
Loans, net	762,082	711,362
Payments in excess of funding	206,158	160,777
Premises and equipment, net	20,527	22,031
Other assets	112,715	97,032
Total assets	1,764,243	1,695,176	$ 1,603,209
Liabilities and Shareholders' Equity
Accounts and drafts payable	684,295	694,360
Short-term borrowings	18,000
Other liabilities	60,622	49,042
Total liabilities	1,520,053	1,465,328
Total shareholders' equity	244,190	229,848	$ 225,088	$ 208,035
Total liabilities and shareholders' equity	1,764,243	1,695,176
Parent [Member]
Assets
Cash and due from banks	17,032	35,735
Short-term investments	3,223	35,201
Securities available-for-sale, at fair value	422,665	441,534
Loans, net	45,187	20,188
Payments in excess of funding	206,158	160,777
Investments in subsidiaries	145,400	130,231
Premises and equipment, net	19,940	21,358
Other assets	137,226	117,374
Total assets	996,831	962,398
Liabilities and Shareholders' Equity
Accounts and drafts payable	683,485	693,026
Short-term borrowings	18,000
Other liabilities	50,987	39,362
Total liabilities	752,472	732,388
Total shareholders' equity	244,359	230,010
Total liabilities and shareholders' equity	$ 996,831	$ 962,398

Leases (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Lease liabilities	$ 6,682	$ 7,808
Right-of-use assets	5,848	$ 7,383
Short-term lease cost	145
Operating lease cost	$ 1,675
Weighted average remaining lease term	6 years 4 months 24 days
Weighted average discount rate	5.50%
Additional lease liabilities	$ 800
Operating lease payment	$ 1,531

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) are as follows:

	For the Years Ended December 31,
(In thousands)		2019		2018			2017
Current:
Federal	$	4,423	$	8,557		$	4,250
State		1,392		1,043			1,638
Deferred:
Federal		1,097		(3,404	)		4,256
State		150		(117	)		(259	)
Total income tax expense	$	7,062	$	6,079		$	9,885

Schedule of Reconciliation of Expected Income Tax Expense (Benefit)

	For the Years Ended December 31,
(In thousands)		2019			2018			2017
Expected income tax expense	$	7,868		$	7,633		$	12,214
(Reductions) increases resulting from:
Tax-exempt income		(1,755	)		(2,009	)		(3,868	)
State taxes, net of federal benefit		1,218			732			896
Share-based compensation adjustment		(281	)		(286	)		(376	)
Adjustment of deferred tax asset or liability for TCJA		—			(74	)		1,824
Other, net		12			83			(805	)
Total income tax expense	$	7,062		$	6,079		$	9,885

Schedule of Deferred Assets and Liabilities

The tax effects of temporary differences which give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:

	December 31,
(In thousands)		2019			2018
Deferred tax assets:
Allowance for loan losses	$	2,452		$	2,376
ASC 715 pension funding liability		7,642			6,000
Net operating loss carryforward ⁽¹⁾		27			50
Supplemental executive retirement plan accrual		2,087			1,968
Stock compensation		1,987			1,673
Total deferred tax assets	$	14,195		$	12,067
Deferred tax liabilities:
Premises and equipment		(2,821	)		(1,937	)
Pension		(974	)		(409	)
Intangible assets		(1,379	)		(1,212	)
Unrealized gain on investment in securities available-for-sale		(3,348	)		(156	)
Other		(196	)		(80	)
Total deferred tax liabilities	$	(8,718	)	$	(3,794	)
Net deferred tax assets	$	5,477		$	8,273

⁽¹⁾

Schedule of the Reconciliation of Unrecognized Tax Benefits

The reconciliation of the beginning unrecognized tax benefits balance to the ending balance is presented in the following table:

(In thousands)	2019			2018			2017
Balance at January 1	$	1,403		$	1,632		$	1,623
Changes in unrecognized tax benefits as a result of tax positions taken during a prior year		56			(135	)		(15	)
Changes in unrecognized tax benefits as a result of tax position taken during the current year		171			192			263
Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations		(331	)		(286	)		(239	)
Balance at December 31	$	1,299		$	1,403		$	1,632

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2019	Feb. 19, 2020	Jun. 30, 2019
Document and Entity Information [Abstract]
Document Type	10-K/A
Amendment description	EXPLANATORY NOTE Cass Information Systems, Inc. (the “Company”), filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (the “Original Filing”) with the United States Securities and Exchange Commission (the “SEC”) on February 28, 2020. Due to a filing error, certain revisions to the Original Filing were not reflected in the as-filed version of the Original Filing. The Company is filing this Amendment No. 1 to the Original Filing (“Amendment No. 1”) solely to reflect such revisions, which include, among other corrections, the following: (i) language variations in the description of certain of the factors that affected the Company’s fiscal 2019 results of operations included in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”; (ii) a correction of an inadvertent error to the amount of unappropriated retained earnings available to the Company’s banking subsidiary for the declaration of dividends disclosed in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Note 2 to the consolidated financial statements; and (iii) corrections to inadvertent errors in footing the total net cash provided by operating activities for the year ended December 31, 2019 as reflected in the Company’s consolidated statements of cash flows. In addition, the exhibit list included in Item 15 of Part IV has been amended to contain a currently-dated consent of KPMG LLP and, pursuant to the rules of the SEC, currently-dated certifications from the Company’s Principal Executive Officer and Principal Financial Officer, as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002. Such consent and the certifications of the Company’s Principal Executive Officer and Principal Financial Officer are attached as exhibits to this Amendment No. 1. Except as described above, this Amendment No. 1 speaks as of the original filing date of the Original Filing and does not amend or update any other information contained in the Original Filing to reflect events that may have occurred subsequent to the original filing date. The Company has included a complete copy of the Original Filing, as amended per above, in this filing.
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2019
Entity File Number	000-20827
Entity Registrant Name	CASS INFORMATION SYSTEMS, INC.
Entity Incorporation, State or Country Code	MO
Entity Tax Identification Number	43-1265338
Entity Address, Address Line One	12444 Powerscourt Drive
Entity Address, Address Line Two	Suite 550
Entity Address, City or Town	St. Louis
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	63131
City Area Code	314
Local Phone Number	506-5500
Title of 12(b) Security	Common Stock, par value $0.50 per share
Trading Symbol	CASS
Name of Exchange on which Security is Registered	NASDAQ
Entity Well-Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 702,445,000
Entity Common Stock, Shares Outstanding		14,552,402
Documents Incorporated By Reference Text Block	Certain information required for Part III of this report is incorporated by reference to the Registrant’s Proxy Statement for the 2020 Annual Meeting of Shareholders.
Amendment Flag	true
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0000708781
Current Fiscal Year End Date	--12-31

Capital Requirements and Regulatory Restrictions (Tables)

12 Months Ended

Dec. 31, 2019

Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]

Schedule of Capital Amounts and Ratios

The Company’s and the Bank’s actual and required capital amounts and ratios are as follows:

	Actual				Capital Requirements				Requirement to be Well-Capitalized
(In thousands)	Amount Ratio				Amount Ratio				Amount Ratio
At December 31, 2019
Total capital (to risk-weighted assets)
Cass Information Systems, Inc.	$	249,954	19.70	%	$	101,530	8.00	%	$	N/A	N/A	%
Cass Commercial Bank		154,011	19.32			63,778	8.00			79,722	10.00
Common Equity Tier I Capital (to risk-weighted assets)
Cass Information Systems, Inc.		239,398	18.86			57,110	4.50			N/A	N/A
Cass Commercial Bank		145,673	18.27			35,875	4.50			51,819	6.50
Tier I capital (to risk-weighted assets)
Cass Information Systems, Inc.		239,398	18.86			76,147	6.00			N/A	N/A
Cass Commercial Bank		145,673	18.27			47,833	6.00			63,778	8.00
Tier I capital (to average assets)
Cass Information Systems, Inc.		239,398	13.24			72,329	4.00			N/A	N/A
Cass Commercial Bank		145,673	16.64			35,012	4.00			43,765	5.00

Table of Contents


At December 31, 2018
Total capital (to risk-weighted assets)
Cass Information Systems, Inc.	$	244,660	21.38	%	$	91,550	8.00	%	$	N/A	N/A	%
Cass Commercial Bank		137,894	18.31			60,257	8.00			75,321	10.00
Common Equity Tier I Capital (to risk-weighted assets)
Cass Information Systems, Inc.		234,435	20.49			51,497	4.50			N/A	N/A
Cass Commercial Bank		130,037	17.26			33,895	4.50			48,959	6.50
Tier I capital (to risk-weighted assets)
Cass Information Systems, Inc.		234,435	20.49			68,662	6.00			N/A	N/A
Cass Commercial Bank		130,037	17.26			45,193	6.00			60,257	8.00
Tier I capital (to average assets)
Cass Information Systems, Inc.		234,435	13.89			67,500	4.00			N/A	N/A
Cass Commercial Bank		130,037	15.35			33,884	4.00			42,354	5.00

Other Operating Expense

12 Months Ended

Dec. 31, 2019

Other Income and Expenses [Abstract]

Other Operating Expense

Note 12

Other Operating Expense

Details of other operating expense are as follows:

	For the Years Ended December 31,
(In thousands)		2019		2018		2017
Postage and supplies	$	1,875	$	2,180	$	2,087
Promotional expense		3,838		3,344		2,557
Professional fees		2,388		2,170		1,650
Outside service fees		5,529		4,909		4,424
Data processing services		1,283		919		897
Telecommunications		748		778		749
Other		2,404		1,963		1,722
Total other operating expense	$	18,065	$	16,263	$	14,086

Employee Benefit Plans (Schedule of Long-term Rate of Return on Assets (Details)	12 Months Ended
	Dec. 31, 2019
Fixed Income [Member]
Defined Benefit Plan Disclosure [Line Items]
Percent of Total Portfolio	51.00%
One-Year Nominal Return	3.78%
Annual Standard Deviation	3.90%
Large Cap U.S. Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Percent of Total Portfolio	14.00%
One-Year Nominal Return	6.55%
Annual Standard Deviation	15.30%
Small Cap U.S. Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Percent of Total Portfolio	5.00%
One-Year Nominal Return	7.58%
Annual Standard Deviation	19.00%
International (Developed) [Member]
Defined Benefit Plan Disclosure [Line Items]
Percent of Total Portfolio	25.00%
One-Year Nominal Return	7.86%
Annual Standard Deviation	17.22%
International (Emerging) [Member]
Defined Benefit Plan Disclosure [Line Items]
Percent of Total Portfolio	5.00%
One-Year Nominal Return	10.24%
Annual Standard Deviation	25.05%

Leases (Schedule of operating lease liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Lease payments due
Less than 1 year	$ 1,748
1-2 years	1,613
2-3 years	1,538
3-4 years	614
4-5 years	392
Over 5 years	1,972
Total undiscounted cash flows	7,877
Discount on cash flows	1,195
Total lease liability	$ 6,682	$ 7,808

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.50	$ 0.50
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	15,505,772	15,505,772
Treasury stock, shares	991,406	894,486

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at Dec. 31, 2016	$ 5,966	$ 128,455	$ 118,363	$ (30,206)	$ (14,543)	$ 208,035
Net income			25,014			25,014
Cash dividends			(10,675)			(10,675)
Stock dividend	558	75,108	(75,674)			(8)
Issuance of common shares pursuant to stock-based compensation plan, net		(821)		273		(548)
Exercise of SARs		(451)		142		(309)
Stock-based compensation expense		2,340				2,340
Purchase of common shares				(2,270)		(2,270)
Other comprehensive income (loss)					3,509	3,509
Other comprehensive income
reclassification for ASU 2018-02			2,286		(2,286)
Balance at Dec. 31, 2017	6,524	204,631	59,314	(32,061)	(13,320)	225,088
Net income			30,268			30,268
Cash dividends			(13,177)			(13,177)
Stock dividend	1,229		(1,234)			(5)
Issuance of common shares pursuant to stock-based compensation plan, net		(991)		624		(367)
Exercise of SARs		(876)		301		(575)
Stock-based compensation expense		3,006				3,006
Purchase of common shares				(8,838)		(8,838)
Other comprehensive income (loss)					(5,552)	(5,552)
Balance at Dec. 31, 2018	7,753	205,770	75,171	(39,974)	(18,872)	229,848
Net income			30,404			30,404
Cash dividends			(15,234)			(15,234)
Issuance of common shares pursuant to stock-based compensation plan, net		(1,417)		1,358		(59)
Exercise of SARs		(2,100)		1,034		(1,066)
Stock-based compensation expense		3,144				3,144
Purchase of common shares				(7,799)		(7,799)
Other comprehensive income (loss)					4,952	4,952
Balance at Dec. 31, 2019	$ 7,753	$ 205,397	$ 90,341	$ (45,381)	$ (13,920)	$ 244,190

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Projected Benefit Obligation

A summary of the activity in the Plan’s projected benefit obligation, assets, funded status and amounts recognized in the Company’s consolidated balance sheets is as follows:

Table of Contents

(In thousands)	2019			2018
Projected benefit obligation:
Balance, January 1	$	96,401		$	98,790
Service cost		3,554			4,017
Interest cost		4,103			3,703
Actuarial loss (gain)		18,334			(7,768	)
Benefits paid		(2,565	)		(2,341	)
Balance, December 31	$	119,827		$	96,401
Plan assets:
Fair value, January 1	$	74,580		$	81,427
Actual return		15,719			(4,506	)
Employer contribution		6,900			—
Benefits paid		(2,565	)		(2,341	)
Fair value, December 31	$	94,634		$	74,580
Funded status:
Accrued pension liability	$	(25,192	)	$	(21,821	)

Schedule of Assumptions used to Determine Projected Benefit Obligation

	2019		2018		2017
Weighted average discount rate	3.30	%	4.30	%	3.75	%
Rate of increase in compensation levels	(a)		(a)		(a)

(a)	6.0% graded down to 3.25% over the first seven years of service.

Schedule of Expected Pension Benefit Payments

	Amount
2020	$	3,098,000
2021		3,367,000
2022		3,766,000
2023		4,196,000
2024		4,488,000
2025-2029		27,343,000

Schedule of Plan's Pension Costs

The Plan’s pension cost included the following components:

	For the Year Ended December 31,
(In thousands)	2019			2018			2017
Service cost – benefits earned during the year	$	3,555		$	4,017		$	3,733
Interest cost on projected benefit obligations		4,103			3,703			3,621
Expected return on plan assets		(4,753	)		(5,202	)		(4,681	)
Net amortization and deferral		1,559			1,522			1,382
Net periodic pension cost	$	4,464		$	4,040		$	4,055

Schedule of Assumptions used to Determine Net Pension Cost

The following represent the major assumptions used to determine the net pension cost of the Plan:

	2019		2018		2017
Weighted average discount rate	4.30	%	3.75	%	4.25	%
Rate of increase in compensation levels	(a	)	(a	)	(a	)
Expected long-term rate of return on assets	6.50	%	6.50	%	6.50	%

(a)	6.0% graded down to 3.25% over the first seven years of service

Schedule of Assumed Long-term Rate of Return on Assets

Asset Class	% of Total Portfolio		One-Year Nominal Return		Annual Standard Deviation
Core Fixed Income	51	%	3.78	%	3.90	%
Large Cap U.S. Equities	14	%	6.55	%	15.30	%
Small Cap U.S. Equities	5	%	7.58	%	19.00	%
International (Developed)	25	%	7.86	%	17.22	%
International (Emerging)	5	%	10.24	%	25.05	%

Summary of the Fair Value Measurements by Type of Asset

A summary of the fair value measurements by type of asset is as follows:

	Fair Value Measurements as of December 31,
	2019						2018
(In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)
Cash	$	462	$	462	$	—	$	423	$	423	$	—
Equity securities
U.S. Small/Mid Cap Growth		4,491		—		4,491		3,405		—		3,405
Non-U. S. Core		23,975		—		23,975		18,398		—		18,398
U.S. Large Cap Passive		13,523		—		13,523		10,471		—		10,471
Emerging Markets		4,559		—		4,559		3,217		—		3,217
Fixed Income
U.S. Core		27,046		—		27,046		10,609		—		10,609
U.S. Passive		15,255		—		15,255		23,827		—		23,827
Opportunistic		5,323		—		5,323		4,230		—		4,230
Total	$	94,634	$	462	$	94,172	$	74,580	$	423	$	74,157

Supplemental Executive Retirement Plan [Member]

Summary of Projected Benefit Obligation

A summary of the activity in the SERP’s projected benefit obligation and amounts recognized in the Company’s consolidated balance sheets is as follows:

	December 31,
(In thousands)	2019			2018
Benefit obligation:
Balance, January 1	$	10,097		$	10,094
Service cost		97			92
Interest cost		408			348
Benefits paid		(262	)		(260	)
Actuarial loss (gain)		1,372			(177	)
Balance, December 31	$	11,712		$	10,097

Schedule of Assumptions used to Determine Projected Benefit Obligation

	2019		2018		2017
Weighted average discount rate	3.00	%	4.10	%	3.50	%
Rate of increase in compensation levels	(a)		(a)		(a)

(a)	6.00% graded down to 3.25% over the first seven years of service.

Schedule of Expected Pension Benefit Payments

	Amount
2020	$	291,000
2021		344,000
2022		752,000
2023		829,000
2024		826,000
2025-2029		4,055,000

Schedule of Plan's Pension Costs

The SERP’s pension cost included the following components:

	For the Year Ended December 31,
(In thousands)	2019		2018		2017
Service cost – benefits earned during the year	$	97	$	92	$	143
Interest cost on projected benefit obligations		408		348		360
Net amortization and deferral		276		581		324
Net periodic pension cost	$	781	$	1,021	$	827

Schedule of Pretax Amounts in Accumulated Other Comprehensive Loss

The pretax amounts in accumulated other comprehensive loss as of December 31 were as follows:

	The Plan				SERP
(In thousands)	2019		2018		2019		2018
Prior service cost	$	—	$	—	$	—	$	—
Net actuarial loss		29,387		23,580		2,724		1,629
Total	$	29,387	$	23,580	$	2,724	$	1,629

Industry Segment Information

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Industry Segment Information

Note 17

Industry Segment Information

The services provided by the Company are classified into two reportable segments: Information Services and Banking Services. Each of these segments provides distinct services that are marketed through different channels. They are managed separately due to their unique service and processing requirements.

The Information Services segment provides transportation, energy, telecommunication, and environmental invoice processing and payment services to large corporations. The Banking Services segment provides banking services primarily to privately held businesses and faith-based ministries, including on-line generosity services, as well as supporting the banking needs of the Information Services segment.

The Company’s accounting policies for segments are the same as those described in Note 1 of this report. Management evaluates segment performance based on tax-equivalized (as defined in the footnote to the chart on the following table) pre-tax income after allocations for corporate expenses. Transactions between segments are accounted for at what management believes to be fair value.

Substantially all revenue originates from, and all long-lived assets are located within the United States, and no revenue from any customer of any segment exceeds 10% of the Company’s consolidated revenue.

Funding sources represent average balances and deposits generated by Information Services and Banking Services and there is no allocation methodology used. Segment interest income is a function of the relative share of average funding sources generated by each segment multiplied by the following rates:

•

Information Services – one or more fixed rates depending upon the specific characteristics of the funding source, and

•

Banking Services – a variable rate that is based upon the overall performance of the Company’s earning assets.

Any difference between total segment interest income and overall total Company interest income is included in Corporate, Eliminations, and Other. Certain amounts in the table below for 2018 and 2017 have been reclassified to conform to the 2019 presentation.

Table of Contents

Summarized information about the Company’s operations in each industry segment for the years ended December 31, 2019, 2018 and 2017, is as follows:

(In thousands)		Information Services		Banking Services		Corporate, Eliminations and Other			Total
2019
Fee income from customers	$	108,882	$	1,660	$	(473	)	$	110,069
Interest income*		25,616		30,646		(1,568	)		54,694
Interest expense		—		5,193		—			5,193
Intersegment income (expense)		—		2,107		(2,107	)		—
Depreciation and amortization		4,659		131		—			4,790
Tax-equivalized pre-tax income*		28,542		13,048		(2,040	)		39,550
Goodwill		12,433		1,829		—			14,262
Other intangible assets, net		1,142		3,139		—			4,281
Total Assets		844,483		915,341		4,419			1,764,243
Funding Sources		676,068		592,905		—			1,268,973

2018
Fee income from customers	$	102,839	$	1,307	$	(70	)	$	104,076
Interest income*		25,074		27,770		(2,496	)		50,348
Interest expense		—		3,736		—			3,736
Intersegment income (expense)		—		1,880		(1,880	)		—
Depreciation and amortization		4,254		142		—			4,396
Tax-equivalized pre-tax income*		27,763		13,571		(2,566	)		38,768
Goodwill		12,433		136		—			12,569
Other intangible assets, net		1,554		—		—			1,554
Total Assets		826,201		886,291		(17,316	)		1,695,176
Funding Sources		642,733		572,653		—			1,215,386
2017
Fee income from customers	$	93,484	$	1,547	$	481		$	95,512
Interest income*		23,813		27,376		(3,522	)		47,667
Interest expense		—		2,187		—			2,187
Intersegment income (expense)		—		1,362		(1,362	)		—
Depreciation and amortization		3,902		149		—			4,051
Tax-equivalized pre-tax income*		28,168		15,460		(3,039	)		40,589
Goodwill		12,433		136		—			12,569
Other intangible assets, net		1,996		—		—			1,996
Total Assets		854,214		830,672		(27,677	)		1,603,209
Funding Sources		604,493		598,986		—			1,203,479

*	Presented on a tax-equivalent basis assuming a tax rate of 21% for 2019 and 2018 and 35% for 2017. The tax-equivalent adjustment was approximately $2,084,000 for 2019, $2,422,000 for 2018, and $5,691,000 for 2017.

Loans (Tables)

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Summary of Loan Categories

A summary of loan categories is as follows:

	December 31,
(In thousands)	2019		2018
Commercial and industrial	$	323,857	$	277,091
Real estate
Commercial:
Mortgage		101,654		95,605
Construction		25,299		11,858
Faith-based:
Mortgage		305,826		316,147
Construction		15,945		20,576
Other		57		310
Total loans	$	772,638	$	721,587

Schedule of the Aging Loans by Loan Categories

Table of Contents

The following table presents the aging of loans by loan categories at December 31, 2019:

	Performing						Nonperforming
(In thousands)	Current		30-59 Days		60-89 Days		90 Days and Over		Non- accrual		Total Loans
Commercial and industrial	$	323,857	$	—	$	—	$	—	$	—	$	323,857
Real estate
Commercial:
Mortgage		101,654		—		—		—		—		101,654
Construction		25,299		—		—		—		—		25,299
Faith-based:
Mortgage		305,826		—		—		—		—		305,826
Construction		15,945		—		—		—		—		15,945
Other		57		—		—		—		—		57
Total	$	772,638	$	—	$	—	$	—	$	—	$	772,638

The following table presents the aging of loans by loan categories at December 31, 2018:

	Performing						Nonperforming
(In thousands)	Current		30-59 Days		60-89 Days		90 Days and Over		Non- accrual		Total Loans
Commercial and industrial	$	277,091	$	—	$	—	$	—	$	—	$	277,091
Real estate
Commercial:
Mortgage		95,605		—		—		—		—		95,605
Construction		11,858		—		—		—		—		11,858
Faith-based:
Mortgage		316,147		—		—		—		—		316,147
Construction		20,576		—		—		—		—		20,576
Other		310		—		—		—		—		310
Total	$	721,587	$	—	$	—	$	—	$	—	$	721,587

Schedule of Credit Exposure of the Loan Portfolio

The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of December 31, 2019:

(In thousands)	Loans Subject to Normal Monitoring⁽¹⁾		Performing Loans Subject to Special Monitoring⁽²⁾		Nonperforming Loans Subject to Special Monitoring⁽²⁾		Total Loans
Commercial and industrial	$	321,554	$	2,303	$	—	$	323,857
Real estate
Commercial:
Mortgage		100,346		1,308		—		101,654
Construction		25,299		—		—		25,299
Faith-based:
Mortgage		304,513		1,313		—		305,826
Construction		15,945		—		—		15,945
Other		57		—		—		57
Total	$	767,714	$	4,924	$	—	$	772,638

⁽¹⁾	Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk, who have the apparent ability to satisfy their loan obligation.
⁽²⁾	Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention.

Table of Contents

The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of December 31, 2018:

(In thousands)	Loans Subject to Normal Monitoring⁽¹⁾		Performing Loans Subject to Special Monitoring⁽²⁾		Nonperforming Loans Subject to Special Monitoring⁽²⁾		Total Loans
Commercial and industrial	$	275,308	$	1,783	$	—	$	277,091
Real estate
Commercial:
Mortgage		95,447		158		—		95,605
Construction		11,858		—		—		11,858
Faith-based:
Mortgage		314,940		1,207		—		316,147
Construction		20,576		—		—		20,576
Other		310		—		—		310
Total	$	718,439	$	3,148	$	—	$	721,587

⁽¹⁾	Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk, who have the apparent ability to satisfy their loan obligation.
⁽²⁾	Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention.

Summary of the Allowance for Loan Losses

A summary of the activity in the allowance for loan losses for the period ended December 31, 2019 is as follows:

(In thousands)	December 31, 2018		Charge- Offs		Recoveries		Provision			December 31, 2019
Commercial and industrial	$	4,179	$	—	$	81	$	593		$	4,853
Real estate
Commercial:
Mortgage		1,417		—		—		105			1,522
Construction		89		—		—		101			190
Faith-based:
Mortgage		3,961		—		—		(135	)		3,826
Construction		155		—		—		(35	)		120
Other		424		—		—		(379	)		45
Total	$	10,225	$	—	$	81	$	250		$	10,556

Table of Contents

A summary of the activity in the allowance for loan losses for the period ended December 31, 2018 is as follows:

(In thousands)	December 31, 2017		Charge- Offs		Recoveries		Provision			December 31, 2018
Commercial and industrial	$	3,652	$	—	$	20	$	507		$	4,179
Real estate
Commercial:
Mortgage		1,394		—		—		23			1,417
Construction		70		—		—		19			89
Faith-based:
Mortgage		3,962		—		—		(1	)		3,961
Construction		196		—		—		(41	)		155
Industrial Revenue Bond		52		—		—		(52	)		—
Other		879		—		—		(455	)		424
Total	$	10,205	$	—	$	20	$	—		$	10,225

Common Stock and Earnings per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Common Stock and Earnings per Share

Note 9

Common Stock and Earnings per Share

The table below shows activity in the outstanding shares of the Company’s common stock during 2019.

	2019
Shares outstanding at January 1	14,611,286
Issuance of common stock:
Employee restricted stock grants	18,121
Employee SARs exercised	27,274
Directors’ compensation	12,278
Shares repurchased	(154,593	)
Shares outstanding at December 31	14,514,366

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the sum of the weighted average number of common shares outstanding and the weighted average number of potential common shares outstanding. Under the treasury stock method, stock appreciation rights (“SARs”) are dilutive when the average market price of the Company’s common stock, combined with the effect of any unamortized compensation expense, exceeds the SAR price during a period. Anti-dilutive shares are those SARs with prices in excess of the current market value.

The calculations of basic and diluted earnings per share are as follows:

	December 31,
(In thousands except share and per share data)	2019		2018		2017
Basic:
Net income	$	30,404	$	30,268	$	25,014
Weighted average common shares outstanding		14,434,445		14,675,136		14,700,558
Basic earnings per share	$	2.11	$	2.06	$	1.70
Diluted:
Net income	$	30,404	$	30,268	$	25,014
Weighted average common shares outstanding		14,434,445		14,675,136		14,700,558
Effect of dilutive restricted stock, performance based restricted stock (“PBRS”), and SARs		257,480		239,066		215,332
Weighted average common shares outstanding assuming dilution		14,691,925		14,914,202		14,915,890
Diluted earnings per share	$	2.07	$	2.03	$	1.68

Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

Note 18

Leases

On January 1, 2019, the Company adopted ASU 2016-02. The Company leases certain premises under operating leases. As of December 31, 2019, the Company had lease liabilities of $6,682,000 and right-of-use assets of $5,848,000. Lease liabilities and right-of-use assets are reflected in other liabilities and other assets, respectively. Included in occupancy expense on the consolidated statements of income for 2019 was operating lease cost of $1,675,000, short-term lease cost of $145,000, and there was no variable lease cost. The Company paid cash of $1,531,000 for operating lease amounts included in the measurement of lease liabilities for the year ended December 31, 2019. No right-of-use assets were obtained in exchange for lease liabilities during the year ended December 31, 2019.

For the year ended December 31, 2019, the weighted average remaining lease term for the operating leases was 6.4 years and the weighted average discount rate used in the measurement of operating lease liabilities was 5.5%. Certain of the Company’s leases contain options to renew the lease; however, these renewal options are not included in the calculation of the lease liabilities as they are not reasonably certain to be exercised. There has been no significant change in the Company’s expected future minimum lease payments since December 31, 2018.

Table of Contents

A maturity analysis of operating lease liabilities and undiscounted cash flows as of December 31, 2019 was as follows:

(In thousands)		December 31, 2019
Lease payments due
Less than 1 year	$	1,748
1-2 years		1,613
2-3 years		1,538
3-4 years		614
4-5 years		392
Over 5 years		1,972
Total undiscounted cash flows		7,877
Discount on cash flows		1,195
Total lease liability	$	6,682

There were no sale and leaseback transactions, leveraged leases, or lease transactions with related parties during the year ended December 31, 2019. At December 31, 2019, the Company had one lease that had not yet commenced, but is expected to create approximately $800,000 of additional lease liabilities and right-of-use assets for the Company. This lease is anticipated to commence in 2020.

Unused Available Lines of Credit

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Unused Available Lines of Credit

Note 8

Unused Available Lines of Credit

As of December 31, 2019, the Bank had unsecured lines of credit at correspondent banks to purchase federal funds up to a maximum of $83,000,000 at the following banks: US Bank, $20,000,000; UMB Bank $20,000,000; Wells Fargo Bank, $15,000,000; PNC Bank, $12,000,000; Frost National Bank, $10,000,000; and JPM Chase Bank, $6,000,000. As of December 31, 2019, the Bank had secured lines of credit with the Federal Home Loan Bank of $192,045,000 collateralized by commercial mortgage loans. At December 31, 2019, the Company had lines of credit from UMB Bank of $50,000,000 and First Tennessee Bank of $50,000,000 collateralized by state and political subdivision securities. There was $18,000,000 outstanding under the lines of credit discussed above at December 31, 2019 and no amounts outstanding at December 31, 2018. The amount outstanding at the end of the 2019 was borrowed on December 31, 2019 and repaid on January 2, 2020.

Disclosures about Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Disclosures about Fair Value of Financial Instruments

Note 14

Disclosures about Fair Value of Financial Instruments

The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, commercial letters of credit and standby letters of credit. The Company’s maximum potential exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit, commercial letters of credit and standby letters of credit is represented by the contractual amounts of those instruments. At December 31, 2019 and 2018, no amounts have been accrued for any estimated losses for these instruments.

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commercial and standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. These off-balance sheet financial instruments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The approximate remaining terms of commercial and standby letters of credit range from less than one to five years. Since these financial instruments may expire without being drawn upon, the total amounts do not necessarily represent future cash requirements. Commitments to extend credit and letters of credit are subject to the same underwriting standards as those financial instruments included on the consolidated balance sheets. The Company evaluates each customer’s credit-worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of the credit, is based on management’s credit evaluation of the borrower. Collateral held varies, but is generally accounts receivable, inventory, residential or income-producing commercial property or equipment. In the event of nonperformance, the Company may obtain and liquidate the collateral to recover amounts paid under its guarantees on these financial instruments.

The following table shows conditional commitments to extend credit, standby letters of credit and commercial letters:

	December 31,
(In thousands)		2019		2018
Conditional commitments to extend credit		$	197,799	$	144,010
Standby letters of credit			13,288		11,368
Commercial letters of credit			2,755		3,486

The fair value of commitments to extend credit and standby letters of credit is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements, the likelihood of the counterparties drawing on such financial instruments and the present credit worthiness of such counterparties. The Company believes such commitments have been made at terms which are competitive in the markets in which it operates; however, no premium or discount is offered thereon.

Following is a summary of the carrying amounts and fair values of the Company’s financial instruments:

	December 31,
	2019				2018
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Balance sheet assets:
Cash and cash equivalents	$	203,954	$	203,954	$	230,933	$	230,933
Investment in securities		422,665		422,665		441,534		441,534
Loans, net		762,082		776,653		711,362		711,090
Accrued interest receivable		6,706		6,706		7,069		7,069
Total	$	1,395,407	$	1,409,978	$	1,390,898	$	1,390,626

Balance sheet liabilities:
Deposits	$	757,136	$	757,790	$	721,926	$	722,018
Accounts and drafts payable		684,295		684,295		694,360		694,360
Accrued interest payable		103		103		91		91
Total	$	1,441,534	$	1,442,188	$	1,416,377	$	1,416,469

The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value:

Cash and Cash Equivalents The carrying amount approximates fair value.

Investment in Securities The fair value is measured on a recurring basis using Level 2 valuations. Refer to Note 3, “Investment in Securities,” for fair value and unrealized gains and losses by investment type.

Table of Contents

Loans The fair value is estimated using present values of future cash flows discounted at risk-adjusted interest rates for each loan category designated by management and is therefore a Level 3 valuation. Management believes that the risk factor embedded in the interest rates along with the allowance for loan losses results in a fair valuation.

Impaired loans are valued using the fair value of the collateral which is based upon an observable market price or current appraised value and therefore, the fair value is a nonrecurring Level 3 valuation.

Accrued Interest Receivable The carrying amount approximates fair value.

Deposits The fair value of demand deposits, savings deposits and certain money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities and therefore, is a Level 2 valuation. The fair value estimates above do not include the benefit that results from the low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the market or the benefit derived from the customer relationship inherent in existing deposits.

Accounts and Drafts Payable The carrying amount approximates fair value.

Accrued Interest The carrying amount approximates fair value.

Limitations Fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Other significant assets or liabilities that are not considered financial assets or liabilities include premises and equipment and the benefit that results from the low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the market (core deposit intangible). In addition, tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of the estimates.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Fee Revenue and Other Income:

Information services payment and processing revenue

$ 107,953

$ 102,181

$ 93,322

Bank service fees

1,386

1,335

1,349

Gains (losses) on sales of securities

(42)

Other

711

602

841

Total fee revenue and other income

110,069

104,076

95,512

Interest Income:

Interest and fees on loans

36,461

32,477

28,641

Interest and dividends on securities:

Taxable

2,497

2,104

554

Exempt from federal income taxes

7,839

9,063

10,439

Interest on federal funds sold and other short-term investments

5,812

4,282

2,343

Total interest income

52,609

47,926

41,977

Interest Expense:

Interest on deposits

5,191

3,736

2,187

Interest on short-term borrowings

Total interest expense

5,193

3,736

2,187

Net interest income

47,416

44,190

39,790

Provision for loan losses

250

Net interest income after provision for loan losses

47,166

44,190

39,790

Total net revenue

157,235

148,266

135,302

Operating Expense:

Personnel

91,083

85,881

77,339

Occupancy

3,918

3,723

3,480

Equipment

6,140

5,610

5,071

Amortization of intangible assets

563

442

427

Other operating

18,065

16,263

14,086

Total operating expense

119,769

111,919

100,403

Income before income tax expense

37,466

36,347

34,899

Income tax expense

^[1]

7,062

6,079

9,885

Net income

$ 30,404

$ 30,268

$ 25,014

Basic Earnings Per Share

$ 2.11

$ 2.06

$ 1.70

Diluted Earnings Per Share

$ 2.07

$ 2.03

$ 1.68

[1]	Presented on a tax-equivalent basis assuming a tax rate of 21% for 2019 and 2018 and 35% for 2017. The tax-equivalent adjustment was approximately $2,084,000 for 2019, $2,422,000 for 2018, and $5,691,000 for 2017.

Loans (Schedule of the Aging of Loans by Loan Categories) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Past Due [Line Items]
Non Accrual
Total Loans	772,638	721,587
Commercial and Industrial [Member]
Financing Receivable, Past Due [Line Items]
Non Accrual
Total Loans	323,857	277,091
Real Estate Commercial Mortgage [Member]
Financing Receivable, Past Due [Line Items]
Non Accrual
Total Loans	101,654	95,605
Real Estate Commercial Construction [Member]
Financing Receivable, Past Due [Line Items]
Non Accrual
Total Loans	25,299	11,858
Real Estate Faith based Mortgage [Member]
Financing Receivable, Past Due [Line Items]
Non Accrual
Total Loans	305,826	316,147
Real Estate Faith-based Construction [Member]
Financing Receivable, Past Due [Line Items]
Non Accrual
Total Loans	15,945	20,576
Other [Member]
Financing Receivable, Past Due [Line Items]
Non Accrual
Total Loans	57	310
Current [Member]
Financing Receivable, Past Due [Line Items]
Loans	772,638	721,587
Current [Member] \| Commercial and Industrial [Member]
Financing Receivable, Past Due [Line Items]
Loans	323,857	277,091
Current [Member] \| Real Estate Commercial Mortgage [Member]
Financing Receivable, Past Due [Line Items]
Loans	101,654	95,605
Current [Member] \| Real Estate Commercial Construction [Member]
Financing Receivable, Past Due [Line Items]
Loans	25,299	11,858
Current [Member] \| Real Estate Faith based Mortgage [Member]
Financing Receivable, Past Due [Line Items]
Loans	305,826	316,147
Current [Member] \| Real Estate Faith-based Construction [Member]
Financing Receivable, Past Due [Line Items]
Loans	15,945	20,576
Current [Member] \| Other [Member]
Financing Receivable, Past Due [Line Items]
Loans	57	310
30-59 Days [Member]
Financing Receivable, Past Due [Line Items]
Loans
30-59 Days [Member] \| Commercial and Industrial [Member]
Financing Receivable, Past Due [Line Items]
Loans
30-59 Days [Member] \| Real Estate Commercial Mortgage [Member]
Financing Receivable, Past Due [Line Items]
Loans
30-59 Days [Member] \| Real Estate Commercial Construction [Member]
Financing Receivable, Past Due [Line Items]
Loans
30-59 Days [Member] \| Real Estate Faith based Mortgage [Member]
Financing Receivable, Past Due [Line Items]
Loans
30-59 Days [Member] \| Real Estate Faith-based Construction [Member]
Financing Receivable, Past Due [Line Items]
Loans
30-59 Days [Member] \| Other [Member]
Financing Receivable, Past Due [Line Items]
Loans
60-89 Days [Member]
Financing Receivable, Past Due [Line Items]
Loans
60-89 Days [Member] \| Commercial and Industrial [Member]
Financing Receivable, Past Due [Line Items]
Loans
60-89 Days [Member] \| Real Estate Commercial Mortgage [Member]
Financing Receivable, Past Due [Line Items]
Loans
60-89 Days [Member] \| Real Estate Commercial Construction [Member]
Financing Receivable, Past Due [Line Items]
Loans
60-89 Days [Member] \| Real Estate Faith based Mortgage [Member]
Financing Receivable, Past Due [Line Items]
Loans
60-89 Days [Member] \| Real Estate Faith-based Construction [Member]
Financing Receivable, Past Due [Line Items]
Loans
60-89 Days [Member] \| Other [Member]
Financing Receivable, Past Due [Line Items]
Loans
90 Days and over [Member]
Financing Receivable, Past Due [Line Items]
Loans
90 Days and over [Member] \| Commercial and Industrial [Member]
Financing Receivable, Past Due [Line Items]
Loans
90 Days and over [Member] \| Real Estate Commercial Mortgage [Member]
Financing Receivable, Past Due [Line Items]
Loans
90 Days and over [Member] \| Real Estate Commercial Construction [Member]
Financing Receivable, Past Due [Line Items]
Loans
90 Days and over [Member] \| Real Estate Faith based Mortgage [Member]
Financing Receivable, Past Due [Line Items]
Loans
90 Days and over [Member] \| Real Estate Faith-based Construction [Member]
Financing Receivable, Past Due [Line Items]
Loans
90 Days and over [Member] \| Other [Member]
Financing Receivable, Past Due [Line Items]
Loans

Employee Benefit Plans (Schedule of Plan's Pension Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	$ 3,554	$ 4,017
Interest cost on projected benefit obligations	4,103	3,703
Defined Benefit Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	3,555	4,017	$ 3,733
Interest cost on projected benefit obligations	4,103	3,703	3,621
Expected return on plan assets	(4,753)	(5,202)	(4,681)
Net amortization and deferral	1,559	1,522	1,382
Net periodic pension cost	$ 4,464	$ 4,040	$ 4,055

Common Stock and Earnings per Share (Schedule of Calculations of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Basic
Net income	$ 6,371	$ 8,186	$ 7,684	$ 8,163	$ 7,057	$ 7,610	$ 7,509	$ 8,092	$ 30,404	$ 30,268	$ 25,014
Weighted average common shares outstanding (in shares)									14,434,445	14,675,136	14,700,558
Basic earnings per share (in dollars per share)	$ 0.44	$ 0.57	$ 0.53	$ 0.56	$ 0.48	$ 0.52	$ 0.51	$ 0.55	$ 2.11	$ 2.06	$ 1.70
Diluted
Net income	$ 6,371	$ 8,186	$ 7,684	$ 8,163	$ 7,057	$ 7,610	$ 7,509	$ 8,092	$ 30,404	$ 30,268	$ 25,014
Weighted average common shares outstanding (in shares)									14,434,445	14,675,136	14,700,558
Effect of dilutive restricted stock, performance based restricted stock ("PBRS"), and SARs									257,480	239,066	215,332
Weighted average common shares outstanding assuming dilution (in shares)									14,691,925	14,914,202	14,915,890
Diluted earnings per share (in dollars per share)	$ 0.43	$ 0.56	$ 0.52	$ 0.55	$ 0.47	$ 0.51	$ 0.50	$ 0.54	$ 2.07	$ 2.03	$ 1.68

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Stock-based Compensation

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Stock-based Compensation

Note 11

Stock-based Compensation

The Amended and Restated Omnibus Stock and Performance Compensation Plan (the “Omnibus Plan”) provides incentive opportunities for key employees and non-employee directors and to align the personal financial interests of such individuals with those of the Company’s shareholders. The Omnibus Plan permits the issuance of up to 1,500,000 shares of the Company’s common stock in the form of stock options, SARs, restricted stock, restricted stock units and performance awards.

Table of Contents

Restricted Stock

Restricted shares granted prior to April 16, 2013 are amortized to expense over the three-year vesting period. Beginning on April 16, 2013, restricted shares granted to Company employees are amortized to expense over the three-year annual vesting period whereas restricted shares granted to members of the Board of Directors are amortized to expense over a one-year service period, with the exception of those shares granted in lieu of cash payment for retainer fees which are expensed in the period earned. Beginning on February 2, 2017, restricted shares granted to Company employees are amortized to expense over the three-year cliff vesting period.

Changes in restricted shares outstanding for the year ended December 31, 2019 were as follows:

	Shares		Weighted Average Grant Date Fair Value
Balance at December 31, 2018	99,724		$45.48
Granted	36,812		49.30
Vested	(13,264	)	39.76
Balance at December 31, 2019	123,272		$47.24

During 2018 and 2017, 35,000 and 31,277 shares, respectively, were granted with weighted average per share market values at date of grant of $49.79 in 2018 and $49.55 in 2017. The fair value of such shares are based on the market price on the date of grant. Amortization of the restricted stock bonus awards totaled $1,551,000 for 2019, $1,571,000 for 2018 and $1,743,000 for 2017. As of December 31, 2019, the total unrecognized compensation expense related to non-vested restricted stock awards was $1,438,000 and the related weighted average period over which it is expected to be recognized is approximately 1.07 years. The total fair value of shares vested during the years ended December 2019, 2018, and 2017 was $527,000, $1,112,000, and $1,389,000, respectively.

Performance-Based Restricted Stock

In February 2017, the Company granted three-year PBRS awards which are contingent upon the Company’s achievement of pre-established financial goals over the period from January 1, 2017 through December 31, 2019. The PBRS awards cliff vest on the three year anniversary of their grant date at levels ranging from 0% to 150% of the target opportunity based on the actual achievement of financial goals for the three-year performance period. The aggregate target number of PBRS shares granted was 30,388 with an average grant date fair value of $49.33 per share. The 2019 expense related to these grants totaled $583,000 and is based on the grant date fair value of the awards and the Company’s achievement of 118% of the target financial goals. The estimated expense for 2019 and each future period through the vesting date is subject to prospective adjustment based upon changes in the expected achievement of the financial goals.

In each of February and July 2018, the Company granted three-year PBRS awards which are contingent upon the Company’s achievement of pre-established financial goals over the period from January 1, 2018 through December 31, 2020. The PBRS awards cliff vest on the three-year anniversary of their grant date at levels ranging from 0% to 150% of the target opportunity based on the actual achievement of financial goals for the three-year performance period. The aggregate target number of PBRS shares granted was 35,602 with an average grant date fair value of $49.04 per share. The 2019 expense related to these grants totaled $674,000 and is based on the grant date fair value of the awards and the Company’s achievement of 117% of the target financial goals. The estimated expense for 2019 and each future period through the vesting date is subject to prospective adjustment based upon changes in the expected achievement of the financial goals.

In each of February and June 2019, the Company granted three-year PBRS awards which are contingent upon the Company’s achievement of pre-established financial goals over the period from January 1, 2019 through December 31, 2021. The PBRS awards cliff vest on the three-year anniversary of their grant date at levels ranging from 0% to 150% of the target opportunity based on the actual achievement of financial goals for the three-year performance period. The aggregate target number of PBRS shares granted was 36,801 with an average grant date fair value of $49.06 per share. The 2019 expense related to these grants totaled $593,000 and is based on the grant date fair value of the awards and the Company’s achievement of 108% of the target financial goals. The estimated expense for 2019 and each future period through the vesting date is subject to prospective adjustment based upon changes in the expected achievement of the financial goals.

SARs

During 2019, there were no SARs granted and no expense recognized. As of December 31, 2019, there was no unrecognized compensation expense related to SARs.

Table of Contents

Changes in SARs outstanding for the year ended December 31, 2019 were as follows:

	SARs		Weighted Average Exercise Price
Balance at December 31, 2018	237,121			$29.86
Exercised	(81,829	)		24.71
Forfeited	—			—
Balance at December 31, 2019	155,292			32.58
Exercisable at December 31, 2019	155,292			$32.58

The total intrinsic value of SARs exercised during 2019 and 2018 was $2,022,000 and $1,110,000, respectively. The average remaining contractual term for SARs outstanding as of December 31, 2019 was 2.92 years, and the aggregate intrinsic value was $3,908,000. The average remaining contractual term for SARs exercisable as of December 31, 2018 was 3.50 years, and the aggregate intrinsic value was $5,468,000.

The total compensation cost for share-based payment arrangements was $3,144,000, $3,006,000, and $2,340,000, in 2019, 2018, and 2017, respectively.

Loans (Summary of Allowance for Loan Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses, Beginning Balance	$ 10,225	$ 10,205
Charge-Offs
Recoveries	81	20
Provision	250
Allowance for loan losses, Ending Balance	10,556	10,225
Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses, Beginning Balance	4,179	3,652
Charge-Offs
Recoveries	81	20
Provision	593	507
Allowance for loan losses, Ending Balance	4,853	4,179
Real Estate Commercial Mortgage [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses, Beginning Balance	1,417	1,394
Charge-Offs
Recoveries
Provision	105	23
Allowance for loan losses, Ending Balance	1,522	1,417
Real Estate Commercial Construction [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses, Beginning Balance	89	70
Charge-Offs
Recoveries
Provision	101	19
Allowance for loan losses, Ending Balance	190	89
Real Estate Faith based Mortgage [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses, Beginning Balance	3,961	3,962
Charge-Offs
Recoveries
Provision	(135)	(1)
Allowance for loan losses, Ending Balance	3,826	3,961
Real Estate Faith-based Construction [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses, Beginning Balance	155	196
Charge-Offs
Recoveries
Provision	(35)	(41)
Allowance for loan losses, Ending Balance	120	155
Industrial Revenue Bonds [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses, Beginning Balance		52
Charge-Offs
Recoveries
Provision		(52)
Allowance for loan losses, Ending Balance
Other [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses, Beginning Balance	424	879
Charge-Offs
Recoveries
Provision	(379)	(455)
Allowance for loan losses, Ending Balance	$ 45	$ 424

Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Parent Company

Note 20

Condensed Financial Information of Parent Company

Following are the condensed balance sheets of the Company (parent company only) and the related condensed statements of income and cash flows.

	Condensed Balance Sheets December 31,
(In thousands)	2019		2018
Assets
Cash and due from banks	$	17,032	$	35,735
Short-term investments		3,223		35,201
Securities available-for-sale, at fair value		422,665		441,534
Loans, net		45,187		20,188
Payments in excess of funding		206,158		160,777
Investments in subsidiaries		145,400		130,231
Premises and equipment, net		19,940		21,358
Other assets		137,226		117,374
Total assets	$	996,831	$	962,398
Liabilities and Shareholders’ Equity
Liabilities:
Accounts and drafts payable	$	683,485	$	693,026
Short-term borrowings		18,000		—
Other liabilities		50,987		39,362
Total liabilities		752,472		732,388
Total shareholders’ equity		244,359		230,010
Total liabilities and shareholders’ equity	$	996,831	$	962,398

Table of Contents

	Condensed Statements of Income For the Years Ended December 31,

(In thousands)	2019		2018			2017
Income from subsidiaries – management fees	$	2,599	$	2,668		$	2,172
Information services revenue		106,198		100,628			93,133
Net interest income after provision		15,713		14,159			13,217
Gain (loss) on sales of investment securities		19		(42	)		—
Other income		518		456			483
Total income		125,047		117,869			109,005
Expenses:
Salaries and employee benefits		81,432		77,946			70,409
Other expenses		26,136		23,442			20,333
Total expenses		107,568		101,388			90,742
Income before income tax and equity in undistributed income of subsidiaries		17,479		16,481			18,263
Income tax expense		2,860		1,788			4,394
Income before undistributed income of subsidiaries		14,619		14,693			13,869
Equity in undistributed income of subsidiaries		15,785		15,575			11,145
Net income	$	30,404	$	30,268		$	25,014

	Condensed Statements of Cash Flows For the Years Ended December 31,
(In thousands)	2019			2018			2017
Cash flows from operating activities:
Net income	$	30,404		$	30,268		$	25,014
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed income of subsidiaries		(15,785	)		(15,575	)		(11,145	)
Net change in other assets		(6,289	)		(1,012	)		(7,257	)
Net change in other liabilities		9,474			3,829			10,118
Stock-based compensation expense		3,144			2,583			1,743
Other, net		6,104			10,242			9,219
Net cash provided by operating activities		27,052			30,335			27,692
Cash flows from investing activities:
Net decrease (increase) in securities		26,150			14,615			(80,621	)
Net (increase) decrease in loans		(24,999	)		(7,949	)		34,944
Net increase in payments in excess of funding		(45,381	)		(21,674	)		(33,756	)
Purchases of premises and equipment, net		(2,637	)		(4,211	)		(4,020	)
Asset acquisition of Gateway Giving, LLC		(2,833	)		—			—
Net cash used in investing activities		(49,700	)		(19,219	)		(83,453	)
Cash flows from financing activities:
Net (decrease) increase in accounts and drafts payable		(21,875	)		(22,316	)		20,397
Short-term borrowings		18,000			—			—
Cash dividends paid		(15,234	)		(13,177	)		(10,675	)
Purchase of common shares for treasury		(7,799	)		(8,838	)		(2,270	)
Other financing activities, net		(1,125	)		(635	)		(267	)
Net cash (used in) provided by financing activities		(28,033	)		(44,966	)		7,185
Net decrease in cash and cash equivalents		(50,681	)		(33,850	)		(48,576	)
Cash and cash equivalents at beginning of year		70,936			104,786			153,362
Cash and cash equivalents at end of year	$	20,255		$	70,936		$	104,786

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 1

Summary of Significant Accounting Policies

Summary of Operations Cass Information Systems, Inc. (the “Company”) provides payment and information services, which include processing and payment of transportation, energy, telecommunications and environmental invoices. These services include the acquisition and management of data, information delivery and financial exchange. The consolidated balance sheet captions, “Accounts and drafts payable” and “Payments in excess of funding,” represent the Company’s resulting financial position related to the payment services that are performed for customers. The Company also provides a full range of banking services to individual, corporate and institutional customers through Cass Commercial Bank (the “Bank”), its wholly owned bank subsidiary.

Basis of Presentation The accounting and reporting policies of the Company and its subsidiaries conform to U.S. generally accepted accounting principles (“GAAP”). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries after elimination of intercompany transactions. Certain amounts in the 2018 and 2017 consolidated financial statements have been reclassified to conform to the 2019 presentation. Such reclassifications have no effect on previously reported net income or shareholders’ equity.

Use of Estimates In preparing the consolidated financial statements, Company management is required to make estimates and assumptions which significantly affect the reported amounts in the consolidated financial statements.

Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, the Company considers cash and due from banks, interest-bearing deposits in other financial institutions, federal funds sold and other short-term investments as segregated in the accompanying consolidated balance sheets to be cash equivalents.

Investment in Debt Securities The Company classifies its debt marketable securities as available-for-sale. Securities classified as available-for-sale are carried at fair value. Unrealized gains and losses, net of the related tax effect, are excluded from earnings and reported in accumulated other comprehensive income, a component of shareholders’ equity. A decline in the fair value of any available-for-sale security below cost that is deemed other than temporary results in a charge to earnings and the establishment of a new cost basis for the security. To determine whether impairment is other than temporary, the Company considers guidance provided in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 320, Investments – Debt and Equity Securities. When determining whether a debt security is other-than-temporarily impaired, the Company assesses whether it has the intent to sell the security and whether it is more likely than not that the Company will be required to sell prior to recovery of the amortized cost basis. Evidence considered in this assessment includes the reasons for impairment, the severity and duration of the impairment, changes in value subsequent to year-end and forecasted performance of the investee. Premiums and discounts are amortized or accreted to interest income over the estimated lives of the securities using the level-yield method. Interest income is recognized when earned. Gains and losses are calculated using the specific identification method.

Allowance for Loan Losses (“ALLL”) The ALLL is increased by provisions charged to expense and is available to absorb charge-offs, net of recoveries. Management utilizes a systematic, documented approach in determining the appropriate level of the ALLL. Management’s approach provides for estimated credit losses on individually evaluated loans in accordance with FASB ASC 310, Allowance for Credit Losses (“ASC 310”). These estimates are based upon a number of factors, such as payment history, financial condition of the borrower, expected future cash flows and discounted collateral exposure.

Estimated credit losses inherent in the remainder of the portfolio are estimated in accordance with FASB ASC 450, Contingencies. These loans are segmented into groups based on similar risk characteristics. Historical loss rates for each risk group, which are updated quarterly, are generally quantified using all recorded loan charge-offs and recoveries over a prescribed look-back period. These historical loss rates for each risk group are used as the starting point to determine the level of the allowance. The Company’s methodology incorporates an estimated loss emergence period for each risk group. The loss emergence period is the period of time from when a borrower experiences a loss event and when the actual loss is recognized in the financial statements, generally at the time of initial charge-off of the loan balance. The Company’s methodology also includes qualitative risk factors that allow management to adjust its estimates of losses based on the most recent information available and to address other limitations in the quantitative component that is based on historical loss rates. Such risk factors are generally reviewed and updated quarterly, as appropriate, and are adjusted to reflect changes in national and local economic conditions and developments, the volume and severity of delinquent and internally classified loans, loan concentrations, assessment of trends in collateral values, assessment of changes in borrowers’ financial stability, and changes in lending policies and procedures, including underwriting standards and collections, charge-off and recovery practices.

Management believes the ALLL is adequate to absorb probable losses in the loan portfolio. Additionally, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s ALLL. Such agencies may require the Company to increase the ALLL based on their judgments and interpretations about information available to them at the time of their examinations.

Table of Contents

Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed over the estimated useful lives of the assets, or the respective lease terms for leasehold improvements, using straight-line and accelerated methods. Estimated useful lives do not exceed 40 years for buildings, the lesser of 10 years or the life of the lease for leasehold improvements and range from 3 to 7 years for software, equipment, furniture and fixtures. Maintenance and repairs are charged to expense as incurred.

Intangible Assets Cost in excess of fair value of net assets acquired has resulted from business acquisitions. Goodwill and intangible assets with indefinite useful lives are not amortized, but instead are tested for impairment at least annually. Intangible assets with definite useful lives are amortized on a straight-line basis over their respective estimated useful lives.

Periodically, the Company reviews intangible assets for events or changes in circumstances that may indicate that the carrying amount of the assets may not be recoverable. Based on those reviews, adjustments of recorded amounts have not been required.

Non-marketable Equity Investments The Company accounts for non-marketable equity investments, in which it holds less than a 20% ownership, under the cost method. Under the cost method of accounting, investments are carried at cost and are adjusted only for other than temporary declines in fair value, distributions of earnings and additional investments. The Company periodically evaluates whether any declines in fair value of its investments are other than temporary. In performing this evaluation, the Company considers various factors including any decline in market price, where available, the investee's financial condition, results of operations, operating trends and other financial ratios. Non-marketable equity investments are included in other assets on the consolidated balance sheets.

Foreclosed Assets Real estate acquired as a result of foreclosure is initially recorded at fair value less estimated selling costs. Fair value is generally determined through the receipt of appraisals. Any write down to fair value at the time the property is acquired is recorded as a charge-off to the allowance for loan losses. Any decline in the fair value of the property subsequent to acquisition is recorded as a charge to non-interest expense.

Treasury Stock Purchases of the Company’s common stock are recorded at cost. Upon reissuance, treasury stock is reduced based upon the average cost basis of shares held.

Comprehensive Income Comprehensive income consists of net income, changes in net unrealized gains (losses) on available-for-sale securities and pension liability adjustments and is presented in the accompanying consolidated statements of shareholders' equity and consolidated statements of comprehensive income.

Loans Interest on loans is recognized based upon the principal amounts outstanding. It is the Company’s policy to discontinue the accrual of interest when there is reasonable doubt as to the collectability of principal or interest. Subsequent payments received on such loans are applied to principal if there is any doubt as to the collectability of such principal; otherwise, these receipts are recorded as interest income. The accrual of interest on a loan is resumed when the loan is current as to payment of both principal and interest and/or the borrower demonstrates the ability to pay and remain current. Loan origination and commitment fees on originated loans, net of certain direct loan origination costs, are deferred and amortized to interest income using the level-yield method over the estimated lives of the related loans.

Impairment of Loans A loan is considered impaired when it is probable that a creditor will be unable to collect all amounts due, both principal and interest, according to the contractual terms of the loan agreement. When measuring impairment, the expected future cash flows of an impaired loan are discounted at the loan's effective interest rate. Alternatively, impairment could be measured by reference to an observable market price, if one exists, or the fair value of the collateral for a collateral-dependent loan. Regardless of the historical measurement method used, the Company measures impairment based on the fair value of the collateral when the Company determines foreclosure is probable. Additionally, impairment of a restructured loan is measured by discounting the total expected future cash flows at the loan's effective rate of interest as stated in the original loan agreement. The Company uses its nonaccrual methods as discussed above for recognizing interest on impaired loans.

Information Services Revenue A majority of the Company’s revenues are attributable to fees for providing services. These services include transportation invoice rating, payment processing, auditing, and the generation of accounting and transportation information. The Company also processes, pays and generates management information from electric, gas, telecommunications, environmental, and other invoices. The specific payment and information processing services provided to each customer are developed individually to meet each customer’s specific requirements. The Company enters into service agreements with customers typically for fixed fees per transaction that are invoiced monthly. Revenues are recognized in the period services are rendered and earned under the service agreements, as long as collection is reasonably assured.

Income Taxes Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Deferred tax assets are reduced if necessary, by a deferred tax asset valuation allowance. In the event that management determines it is more likely than not that it will not be able to realize all or part of net deferred tax assets in the future, the Company adjusts the recorded value of deferred tax assets, which would result in a direct charge to income tax expense in the period that such determination is made. Likewise, the Company will reverse the valuation allowance when realization of the deferred tax asset is expected. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company and its subsidiaries file U.S. federal and certain state income tax returns on a consolidated basis. In addition, certain state jurisdictions are filed on a separate company basis by the Company or its subsidiaries.

Table of Contents

The Company recognizes and measures income tax benefits using a two-step model: 1) a tax position must be more likely than not to be sustained based solely on its technical merits in order to be recognized; and 2) the benefit must be measured as the largest dollar amount of that position that is more likely than not to be sustained upon settlement. The difference between the benefit recognized for a tax position in this model and the tax benefit claimed on a tax return is treated as an unrecognized tax benefit. The Company recognizes income tax related interest and penalties in income tax expense.

Earnings Per Share Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the sum of the weighted average number of common shares outstanding and the weighted average number of potential common shares outstanding.

Stock-Based Compensation The Company follows FASB ASC 718, Accounting for Stock Options and Other Stock-based Compensation (“ASC 718”), which requires that all stock-based compensation be recognized as an expense in the financial statements and that such cost be measured at the fair value of the award. FASB ASC 718 also requires that excess tax benefits related to stock option exercises and restricted stock awards be reflected as financing cash inflows instead of operating cash inflows.

Pension Plans The amounts recognized in the consolidated financial statements related to pension are determined from actuarial valuations. Inherent in these valuations are assumptions including expected return on plan assets, discount rates at which the liabilities could be settled at December 31, 2019, rate of increase in future compensation levels and mortality rates. These assumptions are updated annually and are disclosed in Note 10. The Company follows FASB ASC 715 - Compensation – Retirement Benefits (“ASC 715”), which requires companies to recognize the overfunded or underfunded status of a defined benefit postretirement plan as an asset or liability in its consolidated balance sheet and to recognize changes in that funded status in the year in which the changes occur through comprehensive income. The funded status is measured as the difference between the fair value of the plan assets and the projected benefit obligation as of the date of its fiscal year-end.

Fair Value Measurements The Company follows the provisions of FASB ASC 820 - Fair Value Measurements and Disclosures, which defines fair value, establishes a framework for measuring fair value in GAAP, and outlines disclosures about fair value measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A three-level hierarchy for valuation techniques is used to measure financial assets and financial liabilities at fair value. This hierarchy is based on whether the valuation inputs are observable or unobservable. Financial instrument valuations are considered Level 1 when they are based on quoted prices in active markets for identical assets or liabilities. Level 2 financial instrument valuations use quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Financial instrument valuations are considered Level 3 when they are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable, and when determination of the fair value requires significant management judgment or estimation. The Company records securities available for sale at their fair values on a recurring basis using Level 2 valuations. Additionally, the Company records impaired loans and other real estate owned at their fair value on a nonrecurring basis. The nonrecurring fair value adjustments typically involve application of lower-of-cost-or-market accounting or impairment write-downs of individual assets.

Impact of New and Not Yet Adopted Accounting Pronouncements

In February 2016, the FASB issued ASU No. 2016-02, Leases (ASC Topic 842). The ASU improves financial reporting about leasing transactions. The ASU affects all companies and other organizations that lease assets such as real estate, airplanes, and manufacturing equipment. Consistent with current generally accepted accounting principles (“GAAP”), the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike current GAAP—which requires only capital leases to be recognized on the balance sheet—the new ASU requires both types of leases to be recognized on the balance sheet. The ASU also requires disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. The Company elected to apply ASU 2016-02 as of the beginning of the period of adoption (January 1, 2019) and has not restated comparative periods. The Company has elected to apply the package of practical expedients allowed by the new standard under which the Company need not reassess (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification for any expired or existing leases and (iii) initial direct costs for any existing leases. Adoption of the ASU on January 1, 2019 resulted in the recognition of lease liabilities totaling $7,808,000 and the right-of-use assets totaling $7,383,000. The initial balance sheet gross up upon adoption was related to operating leases of certain real estate properties. See Note 18 – Leases for additional disclosures related to leases.

Investment in Securities

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Investment in Securities

Note 3

Investment in Securities

Investment securities available-for-sale are recorded at fair value on a recurring basis. The Company’s investment securities available-for-sale at December 31, 2019 and 2018 are measured at fair value using Level 2 valuations. The market evaluation utilizes several sources which include “observable inputs” rather than “significant unobservable inputs” and therefore falls into the Level 2 category. The table below presents the balances of securities available-for-sale measured at fair value on a recurring basis. The amortized cost, gross unrealized gains, gross unrealized losses and fair value of debt and equity securities are summarized as follows:

	December 31, 2019
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State and political subdivisions	$	310,720	$	13,727	$	—	$	324,447
U.S. government agencies		97,380		507		169		97,718
Certificates of deposit		500		—		—		500
Total	$	408,600	$	14,234	$	169	$	422,665

	December 31, 2018
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State and political subdivisions	$	332,732	$	3,791	$	1,806	$	334,717
U.S. government agencies		106,153		86		1,417		104,822
Certificates of deposit		1,995		—		—		1,995
Total	$	440,880	$	3,877	$	3,223	$	441,534

The fair values of securities with unrealized losses are as follows:

	December 31, 2019
	Less than 12 months				12 months or more				Total
(In thousands)	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair value		Unrealized Losses
State and political subdivisions	$	—	$	—	$	—	$	─	$	—	$	—
U.S. government agencies		3,801		12		17,593		157		21,394		169
Certificates of deposit		—		—		—		─		—		—
Total	$	3,801	$	12	$	17,593	$	157	$	21,394	$	169

	December 31, 2018
	Less than 12 months				12 months or more				Total
(In thousands)	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair value		Unrealized Losses
State and political subdivisions	$	91,248	$	556	$	60,546	$	1,250	$	151,794	$	1,806
U.S. government agencies		30,409		130		38,005		1,287		68,414		1,417
Certificates of deposit		—		—		—		—		—		—
Total	$	121,657	$	686	$	98,551	$	2,537	$	220,208	$	3,223

Table of Contents

There were 9 securities, or 3% of the total (7 greater than 12 months), in an unrealized loss position as of December 31, 2019 compared to 136 securities, or 43% (61 greater than 12 months), in an unrealized loss position as of December 31, 2018. All unrealized losses are reviewed to determine whether the losses are other than temporary. Management believes that all unrealized losses are temporary since they are market driven, the Company does not have the intent to sell the security, and it is more likely than not that the Company will not be required to sell prior to recovery of the amortized basis.

The amortized cost and fair value of debt and equity securities by contractual maturity are shown in the following table. Expected maturities may differ from contractual maturities because borrowers have the right to prepay obligations with or without prepayment penalties.

	December 31, 2019
(In thousands)	Amortized Cost		Fair Value
Due in 1 year or less	$	51,219	$	51,485
Due after 1 year through 5 years		97,799		100,179
Due after 5 years through 10 years		222,143		233,289
Due after 10 years		37,439		37,712
No stated maturity		—		—
Total	$	408,600	$	422,665

The premium related to the purchase of state and political subdivisions was $6,408,000 and $6,857,000 in 2019 and 2018, respectively.

There were no securities pledged to secure public deposits and for other purposes at December 31, 2019.

Proceeds from sales of debt securities classified as available-for-sale were $4,648,000 in 2019, $58,520,000 in 2018, and $0 in 2017. Gross realized gains on the sales in 2019, 2018, and 2017 were $19,000, $180,000, and $0, respectively. Gross realized losses on sales in 2019, 2018, and 2017 were $0, $222,000, and $0, respectively.

Loans (Schedule of the Credit Exposure of the Loan Portfolio) (Details) - USD ($)
$ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

$ 772,638

$ 721,587

Loans Subject To Normal Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[1]

767,714

718,439

Performing Loans Subject To Special Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[2]

4,924

3,148

Nonperforming Loans Subject To Special Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[2]

Commercial and Industrial [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

323,857

277,091

Commercial and Industrial [Member] | Loans Subject To Normal Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[1]

321,554

275,308

Commercial and Industrial [Member] | Performing Loans Subject To Special Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[2]

2,303

1,783

Commercial and Industrial [Member] | Nonperforming Loans Subject To Special Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[2]

Real Estate Commercial Mortgage [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

101,654

95,605

Real Estate Commercial Mortgage [Member] | Loans Subject To Normal Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[1]

100,346

95,447

Real Estate Commercial Mortgage [Member] | Performing Loans Subject To Special Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[2]

1,308

158

Real Estate Commercial Mortgage [Member] | Nonperforming Loans Subject To Special Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[2]

Real Estate Commercial Construction [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

25,299

11,858

Real Estate Commercial Construction [Member] | Loans Subject To Normal Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[1]

25,299

11,858

Real Estate Commercial Construction [Member] | Nonperforming Loans Subject To Special Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[2]

Real Estate Church Related Construction [Member] | Performing Loans Subject To Special Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[2]

Real Estate Faith based Mortgage [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

305,826

316,147

Real Estate Faith based Mortgage [Member] | Loans Subject To Normal Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[1]

304,513

314,940

Real Estate Faith based Mortgage [Member] | Performing Loans Subject To Special Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[2]

1,313

1,207

Real Estate Faith based Mortgage [Member] | Nonperforming Loans Subject To Special Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[2]

Real Estate Faith-based Construction [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

15,945

20,576

Real Estate Faith-based Construction [Member] | Loans Subject To Normal Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[1]

15,945

20,576

Real Estate Faith-based Construction [Member] | Performing Loans Subject To Special Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[2]

Real Estate Faith-based Construction [Member] | Nonperforming Loans Subject To Special Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[2]

Other [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

310

Other [Member] | Loans Subject To Normal Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[1]

310

Other [Member] | Performing Loans Subject To Special Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[2]

Other [Member] | Nonperforming Loans Subject To Special Monitoring [Member]

Financing Receivable, Credit Quality Indicator [Line Items]

Total Loans

^[2]

[1]	Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk, who have the apparent ability to satisfy their loan obligation.
[2]	Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention.

Income Taxes (Schedule of the Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Balance at January 1	$ 1,403	$ 1,632	$ 1,623
Changes in unrecognized tax benefits as a result of tax positions taken during a prior year	56	(135)	(15)
Changes in unrecognized tax benefits as a result of tax position taken during the current year	171	192	263
Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations	(331)	(286)	(239)
Balance at December 31	$ 1,299	$ 1,403	$ 1,632

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule of Operating Lease Liabilities

A maturity analysis of operating lease liabilities and undiscounted cash flows as of December 31, 2019 was as follows:

(In thousands)		December 31, 2019
Lease payments due
Less than 1 year	$	1,748
1-2 years		1,613
2-3 years		1,538
3-4 years		614
4-5 years		392
Over 5 years		1,972
Total undiscounted cash flows		7,877
Discount on cash flows		1,195
Total lease liability	$	6,682

SUPPLEMENTARY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2019

Supplemental Income Statement Elements [Abstract]

SUPPLEMENTARY FINANCIAL INFORMATION

Note 21

SUPPLEMENTARY FINANCIAL INFORMATION

(Unaudited)

(In thousands except per share data)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		YTD
2019
Fee revenue and other income	$	27,013	$	27,372	$	28,262	$	27,422	$	110,069
Interest income		12,897		13,327		13,666		12,719		52,609
Interest expense		1,290		1,305		1,392		1,206		5,193
Net interest income		11,607		12,022		12,274		11,513		47,416
Provision for loan losses		250		—		—		—		250
Operating expense		28,462		29,971		30,563		30,773		119,769
Income tax expense		1,745		1,739		1,787		1,791		7,062
Net income	$	8,163	$	7,684	$	8,186	$	6,371	$	30,404
Net income per share:
Basic earnings per share	$	.56	$	.53	$	.57	$	.44	$	2.11
Diluted earnings per share		.55		.52		.56		.43		2.07
2018
Fee revenue and other income	$	25,374	$	25,640	$	26,435	$	26,627	$	104,076
Interest income		11,288		11,513		12,215		12,910		47,926
Interest expense		679		794		1,029		1,234		3,736
Net interest income		10,609		10,719		11,186		11,676		44,190
Provision for loan losses		—		—		—		—		—
Operating expense		26,182		27,463		28,530		29,744		111,919
Income tax expense		1,709		1,387		1,481		1,502		6,079
Net income	$	8,092	$	7,509	$	7,610	$	7,057	$	30,268
Net income per share:
Basic earnings per share	$	.55	$	.51	$	.52	$	.48	$	2.06
Diluted earnings per share		.54		.50		.51		.47		2.03

Loans (Summary of Loan Categories) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 772,638	$ 721,587
Commercial and Industrial [Member]
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	323,857	277,091
Real Estate Commercial Mortgage [Member]
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	101,654	95,605
Real Estate Commercial Construction [Member]
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	25,299	11,858
Real Estate Faith based Mortgage [Member]
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	305,826	316,147
Real Estate Faith-based Construction [Member]
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	15,945	20,576
Other Loan [Member]
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 57	$ 310

Subsequent Events

12 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

Note 19

Subsequent Events

In accordance with FASB ASC 855 - Subsequent Events, the Company has evaluated subsequent events after the consolidated balance sheet date of December 31, 2019, and there were no events identified that would require additional disclosures to prevent the Company’s consolidated financial statements from being misleading.

Industry Segment Information (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting [Abstract]
Statutory federal tax rate	21.00%	21.00%	35.00%
Tax-equivalent adjustment	$ 2,084,000	$ 2,422,000	$ 5,691,000

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash Flows From Operating Activities:
Net income	$ 30,404	$ 30,268	$ 25,014
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	10,939	11,238	11,341
Net (gains) losses on sales of securities	(19)	42
Stock-based compensation expense	3,144	3,006	2,339
Provision for loan losses	250
Deferred income tax expense (benefit)	1,247	(3,521)	3,997
(Decrease) increase in current income tax liability	(1,838)	3,746	(3,026)
(Decrease) increase in pension liability	(1,916)	4,641	8,008
Decrease (increase) in accounts receivable	988	4,709	(4,656)
Other operating activities, net	(1,073)	(5,794)	(4,127)
Net cash provided by operating activities	42,126	48,335	38,890
Cash Flows From Investing Activities:
Proceeds from sales of securities available-for-sale	4,648	58,520
Proceeds from maturities of securities available-for-sale	21,502	38,116	44,156
Purchase of securities available-for-sale		(82,022)	(124,777)
Net increase in loans	(50,970)	(35,336)	(21,335)
Increase in payments in excess of funding	(45,381)	(21,674)	(33,756)
Purchases of premises and equipment, net	(2,723)	(4,399)	(4,127)
Asset acquisition of Gateway Giving, LLC	(2,833)
Net cash used in investing activities	(75,757)	(46,795)	(139,839)
Cash Flows From Financing Activities:
Net increase in noninterest-bearing demand deposits	37,833	31,717	66,885
Net decrease in interest-bearing demand and savings deposits	(1,133)	(7,838)	(7,472)
Net (decrease) increase in time deposits	(1,490)	19,959	(3,286)
Net (decrease) increase in accounts and drafts payable	(22,400)	(19,595)	19,601
Net increase in short-term borrowings	18,000
Cash dividends paid	(15,234)	(13,177)	(10,675)
Purchase of common shares for treasury	(7,799)	(8,838)	(2,270)
Other financing activities, net	(1,125)	(945)	(467)
Net cash provided by financing activities	6,652	1,283	62,316
Net (decrease) increase in cash and cash equivalents	(26,979)	2,823	(38,633)
Cash and cash equivalents at beginning of year	230,933	228,110	266,743
Cash and cash equivalents at end of year	203,954	230,933	228,110
Supplemental information:
Cash paid for interest	5,181	3,701	2,178
Cash paid for income taxes	$ 7,604	$ 6,723	$ 7,677

Other Operating Expense (Tables)

12 Months Ended

Dec. 31, 2019

Other Income and Expenses [Abstract]

Schedule of Other Operating Expense

Details of other operating expense are as follows:

	For the Years Ended December 31,
(In thousands)		2019		2018		2017
Postage and supplies	$	1,875	$	2,180	$	2,087
Promotional expense		3,838		3,344		2,557
Professional fees		2,388		2,170		1,650
Outside service fees		5,529		4,909		4,424
Data processing services		1,283		919		897
Telecommunications		748		778		749
Other		2,404		1,963		1,722
Total other operating expense	$	18,065	$	16,263	$	14,086

Investment in Securities (Tables)

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Securities

	December 31, 2019
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State and political subdivisions	$	310,720	$	13,727	$	—	$	324,447
U.S. government agencies		97,380		507		169		97,718
Certificates of deposit		500		—		—		500
Total	$	408,600	$	14,234	$	169	$	422,665

	December 31, 2018
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State and political subdivisions	$	332,732	$	3,791	$	1,806	$	334,717
U.S. government agencies		106,153		86		1,417		104,822
Certificates of deposit		1,995		—		—		1,995
Total	$	440,880	$	3,877	$	3,223	$	441,534

Schedule of Fair Value of Securities with Unrealized Losses

The fair values of securities with unrealized losses are as follows:

	December 31, 2019
	Less than 12 months				12 months or more				Total
(In thousands)	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair value		Unrealized Losses
State and political subdivisions	$	—	$	—	$	—	$	─	$	—	$	—
U.S. government agencies		3,801		12		17,593		157		21,394		169
Certificates of deposit		—		—		—		─		—		—
Total	$	3,801	$	12	$	17,593	$	157	$	21,394	$	169

	December 31, 2018
	Less than 12 months				12 months or more				Total
(In thousands)	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair value		Unrealized Losses
State and political subdivisions	$	91,248	$	556	$	60,546	$	1,250	$	151,794	$	1,806
U.S. government agencies		30,409		130		38,005		1,287		68,414		1,417
Certificates of deposit		—		—		—		—		—		—
Total	$	121,657	$	686	$	98,551	$	2,537	$	220,208	$	3,223

Schedule of Amortized Cost and Fair Value

	December 31, 2019
(In thousands)	Amortized Cost		Fair Value
Due in 1 year or less	$	51,219	$	51,485
Due after 1 year through 5 years		97,799		100,179
Due after 5 years through 10 years		222,143		233,289
Due after 10 years		37,439		37,712
No stated maturity		—		—
Total	$	408,600	$	422,665

Stock-based Compensation (Schedule of Restricted Stock Outstanding) (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Shares
Balance at December 31, 2018	99,724
Granted	36,812	35,000	31,277
Vested	(13,264)
Balance at December 31, 2019	123,272	99,724
Weighted Average Grant Date Fair Value
Balance at December 31, 2018	$ 45.48
Granted	49.30
Vested	39.76
Balance at December 31, 2019	$ 47.24	$ 45.48

Disclosures about Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Commitments to Extend Credit, Standby Letters of Credit and Commercial Letters

The following table shows conditional commitments to extend credit, standby letters of credit and commercial letters:

	December 31,
(In thousands)		2019		2018
Conditional commitments to extend credit		$	197,799	$	144,010
Standby letters of credit			13,288		11,368
Commercial letters of credit			2,755		3,486

Schedule of Company's Financial Instruments

Following is a summary of the carrying amounts and fair values of the Company’s financial instruments:

	December 31,
	2019				2018
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Balance sheet assets:
Cash and cash equivalents	$	203,954	$	203,954	$	230,933	$	230,933
Investment in securities		422,665		422,665		441,534		441,534
Loans, net		762,082		776,653		711,362		711,090
Accrued interest receivable		6,706		6,706		7,069		7,069
Total	$	1,395,407	$	1,409,978	$	1,390,898	$	1,390,626

Balance sheet liabilities:
Deposits	$	757,136	$	757,790	$	721,926	$	722,018
Accounts and drafts payable		684,295		684,295		694,360		694,360
Accrued interest payable		103		103		91		91
Total	$	1,441,534	$	1,442,188	$	1,416,377	$	1,416,469

Employee Benefit Plans (Summary of the Activity in the SERP's Projected Benefit Obligation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Benefit obligation:
Balance, January 1	$ 96,401	$ 98,790
Service cost	3,554	4,017
Interest cost	4,103	3,703
Benefits paid	(2,565)	(2,341)
Actuarial loss (gain)	18,334	(7,768)
Balance, December 31	119,827	96,401	$ 98,790
Supplemental Executive Retirement Plan [Member]
Benefit obligation:
Balance, January 1	10,097	10,094
Service cost	97	92	143
Interest cost	408	348	360
Benefits paid	(262)	(260)	(247)
Actuarial loss (gain)	1,372	(177)
Balance, December 31	$ 11,712	$ 10,097	$ 10,094

Revenue from Contracts with Customers (Schedule of Revenue from Contracts with Customers) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fee revenue and other income:
In-scope of FASB ASC 606 - Invoice processing fees									$ 81,329	$ 78,461	$ 72,961
In-scope of FASB ASC 606 - Invoice payment fees									26,624	23,720	20,361
Information services payment and processing revenue									107,953	102,181	93,322
Bank service fees									1,386	1,335	1,349
Fee revenue (in-scope of FASB ASC 606)									109,339	103,516	94,671
Other income (out-of-scope of FASB ASC 606)									730	560	841
Total fee revenue and other income	$ 27,422	$ 28,262	$ 27,372	$ 27,013	$ 26,627	$ 26,435	$ 25,640	$ 25,374	110,069	104,076	95,512
Net interest income after provision for loan losses (out-of-scope of FASB ASC 606)									47,166	44,190	39,790
Total net revenue									$ 157,235	$ 148,266	$ 135,302

Acquired Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($)
$ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Assets eligible for amortization:

Gross Carrying Amount

$ 23,205

$ 18,222

Accumulated Amortization

(4,662)

(4,099)

Unamortized intangible assets:

Goodwill, Gross Carrying Amount

^[1]

14,489

12,796

Goodwill, Accumulated Amortization

^[1]

(227)

Customer Lists [Member]

Assets eligible for amortization:

Gross Carrying Amount

4,778

4,288

Accumulated Amortization

(3,463)

(3,071)

Patents [Member]

Assets eligible for amortization:

Gross Carrying Amount

Accumulated Amortization

(20)

(16)

Noncompete Agreements [Member]

Assets eligible for amortization:

Gross Carrying Amount

332

Accumulated Amortization

(332)

(326)

Software [Member]

Assets eligible for amortization:

Gross Carrying Amount

2,844

234

Accumulated Amortization

(358)

(234)

Trade Names [Member]

Assets eligible for amortization:

Gross Carrying Amount

190

Accumulated Amortization

(3)

Other Intangible Assets [Member]

Assets eligible for amortization:

Gross Carrying Amount

500

Accumulated Amortization

$ (259)

$ (225)

[1]	Amortization through December 31, 2001 prior to adoption of FASB ASC 350.

Industry Segment Information (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Segment Reporting Information [Line Items]

Fee income from customers

$ 110,069

$ 104,076

$ 95,512

Interest income

^[1]

54,694

50,348

47,667

Interest expense

$ 1,206

$ 1,392

$ 1,305

$ 1,290

$ 1,234

$ 1,029

$ 794

$ 679

5,193

3,736

2,187

Intersegment income (expense)

Depreciation and amortization

4,790

4,396

4,051

Tax-equivalized pre-tax income

39,550

38,768

40,589

Goodwill

14,262

12,569

14,262

12,569

Other intangible assets, net

4,281

1,554

4,281

1,554

1,996

Total Assets

1,764,243

1,695,176

1,764,243

1,695,176

1,603,209

Funding Sources

1,268,973

1,215,386

1,268,973

1,215,386

1,203,479

Information Services [Member]

Segment Reporting Information [Line Items]

Fee income from customers

108,882

102,839

93,484

Interest income

^[1]

25,616

25,074

23,813

Interest expense

Intersegment income (expense)

Depreciation and amortization

4,659

4,254

3,902

Tax-equivalized pre-tax income

28,542

27,763

28,168

Goodwill

12,433

Other intangible assets, net

1,142

1,554

1,142

1,554

1,996

Total Assets

844,483

826,201

844,483

826,201

854,214

Funding Sources

676,068

642,733

676,068

642,733

604,493

Banking Services [Member]

Segment Reporting Information [Line Items]

Fee income from customers

1,660

1,307

1,547

Interest income

^[1]

30,646

27,770

27,376

Interest expense

5,193

3,736

2,187

Intersegment income (expense)

2,107

1,880

1,362

Depreciation and amortization

131

142

149

Tax-equivalized pre-tax income

13,048

13,571

15,460

Goodwill

1,829

136

1,829

136

Other intangible assets, net

3,139

Total Assets

915,341

886,291

915,341

886,291

830,672

Funding Sources

592,905

572,653

592,905

572,653

598,986

Corporate Eliminations and Other [Member]

Segment Reporting Information [Line Items]

Fee income from customers

(473)

(70)

481

Interest income

^[1]

(1,568)

(2,496)

(3,522)

Interest expense

Intersegment income (expense)

(2,107)

(1,880)

(1,362)

Depreciation and amortization

Tax-equivalized pre-tax income

(2,040)

(2,566)

(3,039)

Goodwill

Other intangible assets, net

Total Assets

4,419

(17,316)

4,419

(17,316)

(27,677)

Funding Sources

[1]	Presented on a tax-equivalent basis assuming a tax rate of 21% for 2019 and 2018 and 35% for 2017. The tax-equivalent adjustment was approximately $2,084,000 for 2019, $2,422,000 for 2018, and $5,691,000 for 2017.

Interest-Bearing Deposits (Tables)

12 Months Ended

Dec. 31, 2019

Interest-Bearing Deposits [Abstract]

Schedule of Interest Bearing Deposits

Interest-bearing deposits consist of the following:

	December 31,
(In thousands)	2019			2018
Interest-bearing demand deposits	$	322,027		$	322,709
Savings deposits		13,051			13,502
Time deposits:
Less than $100		4,927			4,862
$100 to less than $250		48,353			51,658
$250 or more		17,687			15,937
Total	$	406,045		$	408,668
Weighted average interest rate		1.32	%		1.00	%

Schedule of Interest on Deposits

Interest on deposits consists of the following:

	December 31,
(In thousands)	2019		2018		2017
Interest-bearing demand deposits	$	3,686	$	2,832	$	1,611
Savings deposits		103		109		79
Time deposits:
Less than $100		905		433		234
$100 to less than $250		216		152		114
$250 or more		281		210		149
Total	$	5,191	$	3,736	$	2,187

Schedule of Maturities of Time Deposits

The scheduled maturities of time deposits are summarized as follows:

	December 31,
	2019				2018
(In thousands)	Amount		Percent of Total		Amount		Percent of Total
Due within:
One year	$	47,881	67.5	%	$	51,154	70.6	%
Two years		15,813	22.3			18,262	25.2
Three years		5,584	7.8			140	0.2
Four years		1,689	2.4			983	1.4
Five years		─	─			1,918	2.6
Total	$	70,967	100.0	%	$	72,457	100.0	%

Capital Requirements and Regulatory Restrictions (Schedule of Capital Amounts and Ratios) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Cass Information Systems Inc. [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total capital (to risk-weighted assets), actual amount	$ 249,954	$ 244,660
Common Equity Tier I Capital (to risk-weighted assets), actual amount	239,398	234,435
Tier I capital (to risk-weighted assets), actual amount	239,398	234,435
Tier I capital (to average assets), actual amount	$ 239,398	$ 234,435
Total capital (to risk-weighted assets), actual ratio	19.70%	21.38%
Common Equity Tier I Capital (to risk-weighted assets), actual ratio	18.86%	20.49%
Tier I capital (to risk-weighted assets), actual ratio	18.86%	20.49%
Tier I capital (to average assets), actual ratio	13.24%	13.89%
Total capital (to risk-weighted assets), capital requirements amount	$ 101,530	$ 91,550
Common Equity Tier I Capital (to risk-weighted assets), capital requirements amount	57,110	51,497
Tier I capital (to risk-weighted assets), capital requirements amount	76,147	68,662
Tier I capital (to average assets), capital requirements amount	$ 72,329	$ 67,500
Total capital (to risk-weighted assets), capital requirements ratio	8.00%	8.00%
Common Equity Tier I Capital (to risk-weighted assets), capital requirements ratio	4.50%	4.50%
Tier I capital (to risk-weighted assets), capital requirements ratio	6.00%	6.00%
Tier I capital (to average assets), capital requirements ratio	4.00%	4.00%
Cass Commercial Bank [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total capital (to risk-weighted assets), actual amount	$ 154,011	$ 137,894
Common Equity Tier I Capital (to risk-weighted assets), actual amount	145,673	130,037
Tier I capital (to risk-weighted assets), actual amount	145,673	130,037
Tier I capital (to average assets), actual amount	$ 145,673	$ 130,037
Total capital (to risk-weighted assets), actual ratio	19.32%	18.31%
Common Equity Tier I Capital (to risk-weighted assets), actual ratio	18.27%	17.26%
Tier I capital (to risk-weighted assets), actual ratio	18.27%	17.26%
Tier I capital (to average assets), actual ratio	16.64%	15.35%
Total capital (to risk-weighted assets), capital requirements amount	$ 63,778	$ 60,257
Common Equity Tier I Capital (to risk-weighted assets), capital requirements amount	35,875	33,895
Tier I capital (to risk-weighted assets), capital requirements amount	47,833	45,193
Tier I capital (to average assets), capital requirements amount	$ 35,012	$ 33,884
Total capital (to risk-weighted assets), capital requirements ratio	8.00%	8.00%
Common Equity Tier I Capital (to risk-weighted assets), capital requirements ratio	4.50%	4.50%
Tier I capital (to risk-weighted assets), capital requirements ratio	6.00%	6.00%
Tier I capital (to average assets), capital requirements ratio	4.00%	4.00%
Total capital (to risk-weighted assets), requirement to be well capitalized amount	$ 79,722	$ 75,321
Common Equity Tier I Capital (to risk-weighted assets), requirement to be well capitalized amount	51,819	48,959
Tier I capital (to risk-weighted assets), requirement to be well capitalized amount	63,778	60,257
Tier I capital (to average assets), requirement to be well capitalized amount	$ 43,765	$ 42,354
Total capital (to risk-weighted assets), requirement to be well capitalized ratio	10.00%	10.00%
Common Equity Tier I Capital (to risk-weighted assets), requirement to be well capitalized ratio	6.50%	6.50%
Tier I capital (to risk-weighted assets), requirement to be well capitalized ratio	8.00%	8.00%
Tier I capital (to average assets), requirement to be well capitalized ratio	5.00%	5.00%

Premises and Equipment (Narrative) (Details) - USD ($)	12 Months Ended
Premises and Equipment (Narrative) (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 4,227,000	$ 3,954,000	$ 3,624,000

Capital Requirements and Regulatory Restrictions

12 Months Ended

Dec. 31, 2019

Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]

Capital Requirements and Regulatory Restrictions

Note 2

Capital Requirements and Regulatory Restrictions

The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can result in certain mandatory, and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Company’s and the Bank’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

Quantitative measures established by regulators to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios of total and Tier I capital and common equity Tier I capital to risk-weighted assets, and of Tier I capital to average assets. Management believes that as of December 31, 2019 and 2018, the Company and the Bank met all capital adequacy requirements to which they are subject.

Effective July 2, 2013, the Federal Reserve Board approved final rules known as the “Basel III Capital Rules” that substantially revised the risk-based capital and leverage capital requirements applicable to bank holding companies and depository institutions, including the Company and the Bank. The Basel III Capital Rules implement aspects of the Basel III capital framework agreed upon by the Basel Committee and incorporate changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Among other things, the Basel III Capital Rules establish stricter capital requirements and calculation standards, as well as more restrictive risk weightings for certain loans and facilities. The Basel III Capital Rules were effective for the Company and the Bank on January 1, 2015, subject to a phase-in period that ended on December 31, 2019.

The Bank is also subject to the regulatory framework for prompt corrective action. As of December 31, 2019, the most recent notification from the regulatory agencies categorized the Bank as well-capitalized. To be categorized as well-capitalized, the Bank must maintain minimum total risk-based, common equity Tier I risk-based, Tier I risk-based, and Tier I leverage ratios as set forth in the table below. There are no conditions or events since that notification that management believes have changed the Bank’s category.

The Company has traditionally paid a quarterly cash dividend to its shareholders. Subsidiary dividends can be a significant source of funds for payment of dividends by the Company to its shareholders. Banking regulations may limit the amount of dividends that may be paid. Approval by regulatory authorities is required if the effect of dividends declared would cause the regulatory capital of the Bank to fall below specified minimum levels. Approval is also required if dividends declared exceed the net profits for that year combined with the retained net profits for the preceding two years. Under the foregoing dividend restrictions and while maintaining its “well capitalized” status, at December 31, 2019, unappropriated retained earnings of $42,487,000 were available at the Bank for the declaration of dividends to the Company without prior approval from regulatory authorities. In addition to regulatory requirements and considerations, any payment of dividends in the future will depend on the Company’s earnings, financial condition and other factors considered relevant by the Company’s Board of Directors.

There were no restricted funds on deposit used to meet regulatory reserve requirements at December 31, 2019 and 2018.

The Company’s and the Bank’s actual and required capital amounts and ratios are as follows:

	Actual				Capital Requirements				Requirement to be Well-Capitalized
(In thousands)	Amount Ratio				Amount Ratio				Amount Ratio
At December 31, 2019
Total capital (to risk-weighted assets)
Cass Information Systems, Inc.	$	249,954	19.70	%	$	101,530	8.00	%	$	N/A	N/A	%
Cass Commercial Bank		154,011	19.32			63,778	8.00			79,722	10.00
Common Equity Tier I Capital (to risk-weighted assets)
Cass Information Systems, Inc.		239,398	18.86			57,110	4.50			N/A	N/A
Cass Commercial Bank		145,673	18.27			35,875	4.50			51,819	6.50
Tier I capital (to risk-weighted assets)
Cass Information Systems, Inc.		239,398	18.86			76,147	6.00			N/A	N/A
Cass Commercial Bank		145,673	18.27			47,833	6.00			63,778	8.00
Tier I capital (to average assets)
Cass Information Systems, Inc.		239,398	13.24			72,329	4.00			N/A	N/A
Cass Commercial Bank		145,673	16.64			35,012	4.00			43,765	5.00

Table of Contents


At December 31, 2018
Total capital (to risk-weighted assets)
Cass Information Systems, Inc.	$	244,660	21.38	%	$	91,550	8.00	%	$	N/A	N/A	%
Cass Commercial Bank		137,894	18.31			60,257	8.00			75,321	10.00
Common Equity Tier I Capital (to risk-weighted assets)
Cass Information Systems, Inc.		234,435	20.49			51,497	4.50			N/A	N/A
Cass Commercial Bank		130,037	17.26			33,895	4.50			48,959	6.50
Tier I capital (to risk-weighted assets)
Cass Information Systems, Inc.		234,435	20.49			68,662	6.00			N/A	N/A
Cass Commercial Bank		130,037	17.26			45,193	6.00			60,257	8.00
Tier I capital (to average assets)
Cass Information Systems, Inc.		234,435	13.89			67,500	4.00			N/A	N/A
Cass Commercial Bank		130,037	15.35			33,884	4.00			42,354	5.00

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1C
-URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958572-112826

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1D
-URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958573-112826

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958570-112826

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958569-112826

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1G
-URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958577-112826

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1F
-URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958575-112826

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
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-URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958574-112826

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1H
-URI http://asc.fasb.org/extlink&oid=117337116&loc=d3e65071-112826

+ Details

Common Stock and Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Schedule of Common Stock Outstanding

The table below shows activity in the outstanding shares of the Company’s common stock during 2019.

	2019
Shares outstanding at January 1	14,611,286
Issuance of common stock:
Employee restricted stock grants	18,121
Employee SARs exercised	27,274
Directors’ compensation	12,278
Shares repurchased	(154,593	)
Shares outstanding at December 31	14,514,366

Schedule of the Calculations of Basic and Diluted Earnings per Share

The calculations of basic and diluted earnings per share are as follows:

	December 31,
(In thousands except share and per share data)	2019		2018		2017
Basic:
Net income	$	30,404	$	30,268	$	25,014
Weighted average common shares outstanding		14,434,445		14,675,136		14,700,558
Basic earnings per share	$	2.11	$	2.06	$	1.70
Diluted:
Net income	$	30,404	$	30,268	$	25,014
Weighted average common shares outstanding		14,434,445		14,675,136		14,700,558
Effect of dilutive restricted stock, performance based restricted stock (“PBRS”), and SARs		257,480		239,066		215,332
Weighted average common shares outstanding assuming dilution		14,691,925		14,914,202		14,915,890
Diluted earnings per share	$	2.07	$	2.03	$	1.68

Unused Available Lines of Credit (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Line of Credit Facility [Line Items]
Amount outstanding under lines of credit	$ 18,000,000
Unsecured Debt [Member]
Line of Credit Facility [Line Items]
Line of credit amount	83,000,000
Unsecured Debt [Member] \| US Bank [Member]
Line of Credit Facility [Line Items]
Line of credit amount	20,000,000
Unsecured Debt [Member] \| UMB Bank [Member]
Line of Credit Facility [Line Items]
Line of credit amount	20,000,000
Unsecured Debt [Member] \| Wells Fargo Bank [Member]
Line of Credit Facility [Line Items]
Line of credit amount	15,000,000
Unsecured Debt [Member] \| PNC Bank [Member]
Line of Credit Facility [Line Items]
Line of credit amount	12,000,000
Unsecured Debt [Member] \| Frost National Bank [Member]
Line of Credit Facility [Line Items]
Line of credit amount	10,000,000
Unsecured Debt [Member] \| JPM Chase Bank [Member]
Line of Credit Facility [Line Items]
Line of credit amount	6,000,000
Secured Debt [Member] \| UMB Bank [Member]
Line of Credit Facility [Line Items]
Line of credit amount	50,000,000
Secured Debt [Member] \| Federal Home Loan Bank [Member]
Line of Credit Facility [Line Items]
Line of credit amount	192,045,000
Secured Debt [Member] \| First Tennessee Bank [Member]
Line of Credit Facility [Line Items]
Line of credit amount	$ 50,000,000

Acquired Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets		$ 563	$ 442	$ 427
2020		859
2021		859
2022		540
2023		540
2024		498
Acquisition cash payment		$ 2,833
Gateway Giving, LLC [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Recorded intangible assets	$ 4,983
Acquisition cash payment	3,000
Amount of earnout	4,000
Estimated earnout amount	1,983
Customer Lists [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Recorded intangible assets	490
Customer Lists [Member] \| Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period		7 years
Customer Lists [Member] \| Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period		10 years
Patents [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period		18 years
Noncompete Agreements [Member] \| Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period		2 years
Noncompete Agreements [Member] \| Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period		5 years
Software [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Recorded intangible assets	2,610
Software [Member] \| Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period		3 years
Software [Member] \| Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period		7 years
Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period		20 years
Recorded intangible assets	$ 190
Other Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period		15 years
Goodwill [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period	15 years
Recorded intangible assets	$ 1,693

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Operations	Summary of Operations Cass Information Systems, Inc. (the “Company”) provides payment and information services, which include processing and payment of transportation, energy, telecommunications and environmental invoices. These services include the acquisition and management of data, information delivery and financial exchange. The consolidated balance sheet captions, “Accounts and drafts payable” and “Payments in excess of funding,” represent the Company’s resulting financial position related to the payment services that are performed for customers. The Company also provides a full range of banking services to individual, corporate and institutional customers through Cass Commercial Bank (the “Bank”), its wholly owned bank subsidiary.
Basis of Presentation	Basis of Presentation The accounting and reporting policies of the Company and its subsidiaries conform to U.S. generally accepted accounting principles (“GAAP”). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries after elimination of intercompany transactions. Certain amounts in the 2018 and 2017 consolidated financial statements have been reclassified to conform to the 2019 presentation. Such reclassifications have no effect on previously reported net income or shareholders’ equity.
Use of Estimates	Use of Estimates In preparing the consolidated financial statements, Company management is required to make estimates and assumptions which significantly affect the reported amounts in the consolidated financial statements.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, the Company considers cash and due from banks, interest-bearing deposits in other financial institutions, federal funds sold and other short-term investments as segregated in the accompanying consolidated balance sheets to be cash equivalents.
Investment in Debt Securities	Investment in Debt Securities The Company classifies its debt marketable securities as available-for-sale. Securities classified as available-for-sale are carried at fair value. Unrealized gains and losses, net of the related tax effect, are excluded from earnings and reported in accumulated other comprehensive income, a component of shareholders’ equity. A decline in the fair value of any available-for-sale security below cost that is deemed other than temporary results in a charge to earnings and the establishment of a new cost basis for the security. To determine whether impairment is other than temporary, the Company considers guidance provided in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 320, Investments – Debt and Equity Securities. When determining whether a debt security is other-than-temporarily impaired, the Company assesses whether it has the intent to sell the security and whether it is more likely than not that the Company will be required to sell prior to recovery of the amortized cost basis. Evidence considered in this assessment includes the reasons for impairment, the severity and duration of the impairment, changes in value subsequent to year-end and forecasted performance of the investee. Premiums and discounts are amortized or accreted to interest income over the estimated lives of the securities using the level-yield method. Interest income is recognized when earned. Gains and losses are calculated using the specific identification method.
Allowance for Loan Losses	Allowance for Loan Losses (“ALLL”) The ALLL is increased by provisions charged to expense and is available to absorb charge-offs, net of recoveries. Management utilizes a systematic, documented approach in determining the appropriate level of the ALLL. Management’s approach provides for estimated credit losses on individually evaluated loans in accordance with FASB ASC 310, Allowance for Credit Losses (“ASC 310”). These estimates are based upon a number of factors, such as payment history, financial condition of the borrower, expected future cash flows and discounted collateral exposure. Estimated credit losses inherent in the remainder of the portfolio are estimated in accordance with FASB ASC 450, Contingencies. These loans are segmented into groups based on similar risk characteristics. Historical loss rates for each risk group, which are updated quarterly, are generally quantified using all recorded loan charge-offs and recoveries over a prescribed look-back period. These historical loss rates for each risk group are used as the starting point to determine the level of the allowance. The Company’s methodology incorporates an estimated loss emergence period for each risk group. The loss emergence period is the period of time from when a borrower experiences a loss event and when the actual loss is recognized in the financial statements, generally at the time of initial charge-off of the loan balance. The Company’s methodology also includes qualitative risk factors that allow management to adjust its estimates of losses based on the most recent information available and to address other limitations in the quantitative component that is based on historical loss rates. Such risk factors are generally reviewed and updated quarterly, as appropriate, and are adjusted to reflect changes in national and local economic conditions and developments, the volume and severity of delinquent and internally classified loans, loan concentrations, assessment of trends in collateral values, assessment of changes in borrowers’ financial stability, and changes in lending policies and procedures, including underwriting standards and collections, charge-off and recovery practices. Management believes the ALLL is adequate to absorb probable losses in the loan portfolio. Additionally, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s ALLL. Such agencies may require the Company to increase the ALLL based on their judgments and interpretations about information available to them at the time of their examinations. 37 Table of Contents Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed over the estimated useful lives of the assets, or the respective lease terms for leasehold improvements, using straight-line and accelerated methods. Estimated useful lives do not exceed 40 years for buildings, the lesser of 10 years or the life of the lease for leasehold improvements and range from 3 to 7 years for software, equipment, furniture and fixtures. Maintenance and repairs are charged to expense as incurred.
Premises and Equipment	Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed over the estimated useful lives of the assets, or the respective lease terms for leasehold improvements, using straight-line and accelerated methods. Estimated useful lives do not exceed 40 years for buildings, the lesser of 10 years or the life of the lease for leasehold improvements and range from 3 to 7 years for software, equipment, furniture and fixtures. Maintenance and repairs are charged to expense as incurred.
Intangible Assets	Intangible Assets Cost in excess of fair value of net assets acquired has resulted from business acquisitions. Goodwill and intangible assets with indefinite useful lives are not amortized, but instead are tested for impairment at least annually. Intangible assets with definite useful lives are amortized on a straight-line basis over their respective estimated useful lives. Periodically, the Company reviews intangible assets for events or changes in circumstances that may indicate that the carrying amount of the assets may not be recoverable. Based on those reviews, adjustments of recorded amounts have not been required.
Non-marketable Equity Investments	Non-marketable Equity Investments The Company accounts for non-marketable equity investments, in which it holds less than a 20% ownership, under the cost method. Under the cost method of accounting, investments are carried at cost and are adjusted only for other than temporary declines in fair value, distributions of earnings and additional investments. The Company periodically evaluates whether any declines in fair value of its investments are other than temporary. In performing this evaluation, the Company considers various factors including any decline in market price, where available, the investee's financial condition, results of operations, operating trends and other financial ratios. Non-marketable equity investments are included in other assets on the consolidated balance sheets.
Foreclosed Assets	Foreclosed Assets Real estate acquired as a result of foreclosure is initially recorded at fair value less estimated selling costs. Fair value is generally determined through the receipt of appraisals. Any write down to fair value at the time the property is acquired is recorded as a charge-off to the allowance for loan losses. Any decline in the fair value of the property subsequent to acquisition is recorded as a charge to non-interest expense.
Treasury Stock	Treasury Stock Purchases of the Company’s common stock are recorded at cost. Upon reissuance, treasury stock is reduced based upon the average cost basis of shares held.
Comprehensive Income	Comprehensive Income Comprehensive income consists of net income, changes in net unrealized gains (losses) on available-for-sale securities and pension liability adjustments and is presented in the accompanying consolidated statements of shareholders' equity and consolidated statements of comprehensive income.
Loans	Loans Interest on loans is recognized based upon the principal amounts outstanding. It is the Company’s policy to discontinue the accrual of interest when there is reasonable doubt as to the collectability of principal or interest. Subsequent payments received on such loans are applied to principal if there is any doubt as to the collectability of such principal; otherwise, these receipts are recorded as interest income. The accrual of interest on a loan is resumed when the loan is current as to payment of both principal and interest and/or the borrower demonstrates the ability to pay and remain current. Loan origination and commitment fees on originated loans, net of certain direct loan origination costs, are deferred and amortized to interest income using the level-yield method over the estimated lives of the related loans.
Impairment of Loans	Impairment of Loans A loan is considered impaired when it is probable that a creditor will be unable to collect all amounts due, both principal and interest, according to the contractual terms of the loan agreement. When measuring impairment, the expected future cash flows of an impaired loan are discounted at the loan's effective interest rate. Alternatively, impairment could be measured by reference to an observable market price, if one exists, or the fair value of the collateral for a collateral-dependent loan. Regardless of the historical measurement method used, the Company measures impairment based on the fair value of the collateral when the Company determines foreclosure is probable. Additionally, impairment of a restructured loan is measured by discounting the total expected future cash flows at the loan's effective rate of interest as stated in the original loan agreement. The Company uses its nonaccrual methods as discussed above for recognizing interest on impaired loans.
Information Services Revenue	Information Services Revenue A majority of the Company’s revenues are attributable to fees for providing services. These services include transportation invoice rating, payment processing, auditing, and the generation of accounting and transportation information. The Company also processes, pays and generates management information from electric, gas, telecommunications, environmental, and other invoices. The specific payment and information processing services provided to each customer are developed individually to meet each customer’s specific requirements. The Company enters into service agreements with customers typically for fixed fees per transaction that are invoiced monthly. Revenues are recognized in the period services are rendered and earned under the service agreements, as long as collection is reasonably assured.
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Deferred tax assets are reduced if necessary, by a deferred tax asset valuation allowance. In the event that management determines it is more likely than not that it will not be able to realize all or part of net deferred tax assets in the future, the Company adjusts the recorded value of deferred tax assets, which would result in a direct charge to income tax expense in the period that such determination is made. Likewise, the Company will reverse the valuation allowance when realization of the deferred tax asset is expected. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company and its subsidiaries file U.S. federal and certain state income tax returns on a consolidated basis. In addition, certain state jurisdictions are filed on a separate company basis by the Company or its subsidiaries. 38 Table of Contents The Company recognizes and measures income tax benefits using a two-step model: 1) a tax position must be more likely than not to be sustained based solely on its technical merits in order to be recognized; and 2) the benefit must be measured as the largest dollar amount of that position that is more likely than not to be sustained upon settlement. The difference between the benefit recognized for a tax position in this model and the tax benefit claimed on a tax return is treated as an unrecognized tax benefit. The Company recognizes income tax related interest and penalties in income tax expense.
Earnings Per Share	Earnings Per Share Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the sum of the weighted average number of common shares outstanding and the weighted average number of potential common shares outstanding.
Share-Based Compensation	Stock-Based Compensation The Company follows FASB ASC 718, Accounting for Stock Options and Other Stock-based Compensation (“ASC 718”), which requires that all stock-based compensation be recognized as an expense in the financial statements and that such cost be measured at the fair value of the award. FASB ASC 718 also requires that excess tax benefits related to stock option exercises and restricted stock awards be reflected as financing cash inflows instead of operating cash inflows.
Pension Plans	Pension Plans The amounts recognized in the consolidated financial statements related to pension are determined from actuarial valuations. Inherent in these valuations are assumptions including expected return on plan assets, discount rates at which the liabilities could be settled at December 31, 2019, rate of increase in future compensation levels and mortality rates. These assumptions are updated annually and are disclosed in Note 10. The Company follows FASB ASC 715 - Compensation – Retirement Benefits (“ASC 715”), which requires companies to recognize the overfunded or underfunded status of a defined benefit postretirement plan as an asset or liability in its consolidated balance sheet and to recognize changes in that funded status in the year in which the changes occur through comprehensive income. The funded status is measured as the difference between the fair value of the plan assets and the projected benefit obligation as of the date of its fiscal year-end.
Fair Value Measurements	Fair Value Measurements The Company follows the provisions of FASB ASC 820 - Fair Value Measurements and Disclosures, which defines fair value, establishes a framework for measuring fair value in GAAP, and outlines disclosures about fair value measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A three-level hierarchy for valuation techniques is used to measure financial assets and financial liabilities at fair value. This hierarchy is based on whether the valuation inputs are observable or unobservable. Financial instrument valuations are considered Level 1 when they are based on quoted prices in active markets for identical assets or liabilities. Level 2 financial instrument valuations use quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Financial instrument valuations are considered Level 3 when they are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable, and when determination of the fair value requires significant management judgment or estimation. The Company records securities available for sale at their fair values on a recurring basis using Level 2 valuations. Additionally, the Company records impaired loans and other real estate owned at their fair value on a nonrecurring basis. The nonrecurring fair value adjustments typically involve application of lower-of-cost-or-market accounting or impairment write-downs of individual assets.
Impact of New and Not Yet Adopted Accounting Pronouncements	Impact of New and Not Yet Adopted Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (ASC Topic 842). The ASU improves financial reporting about leasing transactions. The ASU affects all companies and other organizations that lease assets such as real estate, airplanes, and manufacturing equipment. Consistent with current generally accepted accounting principles (“GAAP”), the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike current GAAP—which requires only capital leases to be recognized on the balance sheet—the new ASU requires both types of leases to be recognized on the balance sheet. The ASU also requires disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. The Company elected to apply ASU 2016-02 as of the beginning of the period of adoption (January 1, 2019) and has not restated comparative periods. The Company has elected to apply the package of practical expedients allowed by the new standard under which the Company need not reassess (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification for any expired or existing leases and (iii) initial direct costs for any existing leases. Adoption of the ASU on January 1, 2019 resulted in the recognition of lease liabilities totaling $7,808,000 and the right-of-use assets totaling $7,383,000. The initial balance sheet gross up upon adoption was related to operating leases of certain real estate properties. See Note 18 – Leases for additional disclosures related to leases.

Loans

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Loans

Note 4

The Company originates commercial, industrial and real estate loans to businesses and faith-based ministries throughout the metropolitan St. Louis, Missouri area, Orange County, California, Colorado Springs, Colorado and other selected cities in the United States. The Company does not have any particular concentration of credit in any one economic sector; however, a substantial portion of the commercial and industrial loans is extended to privately-held commercial companies and franchises in these market areas and are generally secured by the assets of the business. The Company also has a substantial portion of real estate loans secured by mortgages that are extended to faith-based ministries in its market area and selected cities in the United States.

A summary of loan categories is as follows:

	December 31,
(In thousands)	2019		2018
Commercial and industrial	$	323,857	$	277,091
Real estate
Commercial:
Mortgage		101,654		95,605
Construction		25,299		11,858
Faith-based:
Mortgage		305,826		316,147
Construction		15,945		20,576
Other		57		310
Total loans	$	772,638	$	721,587

Table of Contents

The following table presents the aging of loans by loan categories at December 31, 2019:

	Performing						Nonperforming
(In thousands)	Current		30-59 Days		60-89 Days		90 Days and Over		Non- accrual		Total Loans
Commercial and industrial	$	323,857	$	—	$	—	$	—	$	—	$	323,857
Real estate
Commercial:
Mortgage		101,654		—		—		—		—		101,654
Construction		25,299		—		—		—		—		25,299
Faith-based:
Mortgage		305,826		—		—		—		—		305,826
Construction		15,945		—		—		—		—		15,945
Other		57		—		—		—		—		57
Total	$	772,638	$	—	$	—	$	—	$	—	$	772,638

The following table presents the aging of loans by loan categories at December 31, 2018:

	Performing						Nonperforming
(In thousands)	Current		30-59 Days		60-89 Days		90 Days and Over		Non- accrual		Total Loans
Commercial and industrial	$	277,091	$	—	$	—	$	—	$	—	$	277,091
Real estate
Commercial:
Mortgage		95,605		—		—		—		—		95,605
Construction		11,858		—		—		—		—		11,858
Faith-based:
Mortgage		316,147		—		—		—		—		316,147
Construction		20,576		—		—		—		—		20,576
Other		310		—		—		—		—		310
Total	$	721,587	$	—	$	—	$	—	$	—	$	721,587

The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of December 31, 2019:

(In thousands)	Loans Subject to Normal Monitoring⁽¹⁾		Performing Loans Subject to Special Monitoring⁽²⁾		Nonperforming Loans Subject to Special Monitoring⁽²⁾		Total Loans
Commercial and industrial	$	321,554	$	2,303	$	—	$	323,857
Real estate
Commercial:
Mortgage		100,346		1,308		—		101,654
Construction		25,299		—		—		25,299
Faith-based:
Mortgage		304,513		1,313		—		305,826
Construction		15,945		—		—		15,945
Other		57		—		—		57
Total	$	767,714	$	4,924	$	—	$	772,638

⁽¹⁾	Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk, who have the apparent ability to satisfy their loan obligation.
⁽²⁾	Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention.

Table of Contents

The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of December 31, 2018:

(In thousands)	Loans Subject to Normal Monitoring⁽¹⁾		Performing Loans Subject to Special Monitoring⁽²⁾		Nonperforming Loans Subject to Special Monitoring⁽²⁾		Total Loans
Commercial and industrial	$	275,308	$	1,783	$	—	$	277,091
Real estate
Commercial:
Mortgage		95,447		158		—		95,605
Construction		11,858		—		—		11,858
Faith-based:
Mortgage		314,940		1,207		—		316,147
Construction		20,576		—		—		20,576
Other		310		—		—		310
Total	$	718,439	$	3,148	$	—	$	721,587

⁽¹⁾	Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk, who have the apparent ability to satisfy their loan obligation.
⁽²⁾	Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention.

Impaired loans consist primarily of nonaccrual loans, loans greater than 90 days past due and still accruing interest and troubled debt restructurings, both performing and non-performing. Troubled debt restructuring involves the granting of a concession to a borrower experiencing financial difficulty resulting in the modification of terms of the loan, such as changes in payment schedule or interest rate. There was no ALLL related to impaired loans at both December 31, 2019 and 2018. There were no non-accrual loans at December 31, 2019 and 2018. There were no loans delinquent 90 days or more and still accruing interest at both December 31, 2019 and 2018. At December 31, 2019 and 2018, there were no loans classified as troubled debt restructuring. The average balances of impaired loans during 2019, 2018 and 2017 were $0, $0, and $166,000, respectively. Income that would have been recognized on non-accrual loans under the original terms of the contract was $0, $0, and $24,000 for 2019, 2018, and 2017, respectively. Income that was recognized on nonaccrual loans was $0, $0, and $17,000, for 2019, 2018, and 2017 respectively. There were no foreclosed assets as of December 31, 2019 or 2018.

The Company does not record loans at fair value on a recurring basis. Once a loan is identified as impaired, management measures impairment in accordance with FASB ASC 310. At December 31, 2019 and 2018, there were no impaired loans. The fair value of the collateral is based upon an observable market price or current appraised value and therefore, the Company classifies these assets as nonrecurring Level 3.

A summary of the activity in the allowance for loan losses for the period ended December 31, 2019 is as follows:

(In thousands)	December 31, 2018		Charge- Offs		Recoveries		Provision			December 31, 2019
Commercial and industrial	$	4,179	$	—	$	81	$	593		$	4,853
Real estate
Commercial:
Mortgage		1,417		—		—		105			1,522
Construction		89		—		—		101			190
Faith-based:
Mortgage		3,961		—		—		(135	)		3,826
Construction		155		—		—		(35	)		120
Other		424		—		—		(379	)		45
Total	$	10,225	$	—	$	81	$	250		$	10,556

Table of Contents

A summary of the activity in the allowance for loan losses for the period ended December 31, 2018 is as follows:

(In thousands)	December 31, 2017		Charge- Offs		Recoveries		Provision			December 31, 2018
Commercial and industrial	$	3,652	$	—	$	20	$	507		$	4,179
Real estate
Commercial:
Mortgage		1,394		—		—		23			1,417
Construction		70		—		—		19			89
Faith-based:
Mortgage		3,962		—		—		(1	)		3,961
Construction		196		—		—		(41	)		155
Industrial Revenue Bond		52		—		—		(52	)		—
Other		879		—		—		(455	)		424
Total	$	10,205	$	—	$	20	$	—		$	10,225

As of December 31, 2019 and 2018, there were loans totaling $167,429 and $278,153, respectively, to affiliates of executive officers or directors.

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Schedule of Revenue from Contracts with Customers

	For the Years Ended December 31,
(In thousands)	2019		2018		2017
Fee revenue and other income
In-scope of FASB ASC 606
Invoice processing fees	$	81,329	$	78,461	$	72,961
Invoice payment fees		26,624		23,720		20,361
Information services payment and processing revenue		107,953		102,181		93,322
Bank service fees		1,386		1,335		1,349
Fee revenue (in-scope of FASB ASC 606)		109,339		103,516		94,671
Other income (out-of-scope of FASB ASC 606)		730		560		841
Total fee revenue and other income		110,069		104,076		95,512

Net interest income after provision for loan losses (out-of-scope of FASB ASC 606)		47,166		44,190		39,790
Total net revenue	$	157,235	$	148,266	$	135,302

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($)
$ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Deferred tax assets:

Allowance for loan losses

$ 2,452

$ 2,376

ASC 715 pension funding liability

7,642

6,000

Net operating loss carryforward

^[1]

Supplemental executive retirement plan accrual

2,087

1,968

Stock compensation

1,987

1,673

Total deferred tax assets

14,195

12,067

Deferred tax liabilities:

Premises and equipment

(2,821)

(1,937)

Pension

(974)

(409)

Intangible assets

(1,379)

(1,212)

Unrealized gain on investment in securities available-for-sale

(3,348)

(156)

Other

(196)

(80)

Total deferred tax liabilities

(8,718)

(3,794)

Net deferred tax assets

$ 5,477

$ 8,273

[1]

Employee Benefit Plans (Schedule of Expected Pension Benefit Payments) (Details)	Dec. 31, 2019 USD ($)
Retirement Benefits [Abstract]
2020	$ 3,098,000
2021	3,367,000
2022	3,766,000
2023	4,196,000
2024	4,488,000
2025-2029	$ 27,343,000

Income Taxes (Narrative) (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Income Taxes [Line Items]

Statutory federal tax rate

21.00%

35.00%

Net operating loss carryforward

^[1]

$ 27

$ 50

$ 27

$ 50

Amounts of tax benefits that would affect effective tax rate if recognized

1,184

1,272

1,184

1,272

$ 1,464

Income tax accrued interest

151

136

151

136

139

Reduction of tax benefits over the next twelve months

315

Income tax expense

1,791

$ 1,787

$ 1,739

$ 1,745

$ 1,502

$ 1,481

$ 1,387

$ 1,709

$ 7,062

^[2]

$ 6,079

^[2]

$ 9,885

^[2]

Percentage of pre-tax income tax rate

19.00%

17.00%

28.00%

Franklin Bancorp [Member]

Income Taxes [Line Items]

Net operating loss carryforward

128

$ 128

Limitations on use

$ 122

Net operating loss carryforward expiration date

Dec. 31, 2024

[1]	As of December 31, 2019, the Company had approximately $128,000 of net operating loss carry forwards as a result of the acquisition of Franklin Bancorp. The utilization of the net operating loss carry forward is subject to Section 382 of the Internal Revenue Code and limits the Company’s use to approximately $122,000 per year during the carry forward period, which expires in 2024.
[2]	Presented on a tax-equivalent basis assuming a tax rate of 21% for 2019 and 2018 and 35% for 2017. The tax-equivalent adjustment was approximately $2,084,000 for 2019, $2,422,000 for 2018, and $5,691,000 for 2017.

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Benefits paid		$ 2,565	$ 2,341
Defined contribution plan, contribution amount		$ 1,378	1,109	$ 925
Fixed Income [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset		51.00%
U.S. Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset		19.00%
Non-U.S. Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset		30.00%
Defined Benefit Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation		$ 103,736	83,724
Contributions for plan		6,900
Net gains (losses) as a component of net periodic benefit cost		0
Defined Benefit Plan [Member] \| Subsequent Event [Member]
Defined Benefit Plan Disclosure [Line Items]
Net gains (losses) as a component of net periodic benefit cost	$ 1,890
Supplemental Executive Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation		10,485	8,830
Benefits paid		262	260	247
Net gains (losses) as a component of net periodic benefit cost		0
Supplemental Executive Retirement Plan [Member] \| Subsequent Event [Member]
Defined Benefit Plan Disclosure [Line Items]
Net gains (losses) as a component of net periodic benefit cost	$ 112
Noncontributory Profit Sharing Program [Member]
Defined Benefit Plan Disclosure [Line Items]
Contributions for plan		$ 6,841	$ 6,810	$ 5,799