0001206774-20-003029 | 10-Q | XBRL Viewer | Cass Information Systems INC

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2020	Oct. 26, 2020
Document and Entity Information [Abstract]
Entity Central Index Key	0000708781
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2020
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 $.50
Trading Symbol	CASS
Name of Exchange on which Security is Registered	NASDAQ
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 Common Stock, Shares Outstanding		14,422,133

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 15,950	$ 18,076
Interest-bearing deposits in other financial institutions	208,783	172,422
Federal funds sold and other short-term investments	214,718	13,456
Cash and cash equivalents	439,451	203,954
Securities available-for-sale, at fair value	365,165	422,665
Loans	944,557	772,638
Less: Allowance for loan losses	11,298	10,556
Loans, net	933,259	762,082
Payments in excess of funding	161,392	206,158
Premises and equipment, net	18,890	20,527
Investment in bank-owned life insurance	17,942	17,599
Goodwill	14,262	14,262
Other intangible assets, net	3,637	4,281
Other assets	46,465	112,715
Total assets	2,000,463	1,764,243
Deposits:
Noninterest-bearing	374,382	351,091
Interest-bearing	536,803	406,045
Total deposits	911,185	757,136
Accounts and drafts payable	771,607	684,295
Short-term borrowings		18,000
Other liabilities	66,180	60,622
Total liabilities	1,748,972	1,520,053
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 and 15,505,772 shares issued at September 30, 2020 and December 31, 2019	7,753	7,753
Additional paid-in capital	205,053	205,397
Retained earnings	97,402	90,341
Common shares in treasury, at cost (1,083,639 shares at September 30, 2020 and 991,406 shares at December 31, 2019)	(49,410)	(45,381)
Accumulated other comprehensive loss	(9,307)	(13,920)
Total shareholders' equity	251,491	244,190
Total liabilities and shareholders' equity	$ 2,000,463	$ 1,764,243

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value per share	$ 0.50	$ 0.50
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued
Common stock, par value 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	1,083,639	991,406

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Fee Revenue and Other Income:
Information services payment and processing revenue	$ 24,376	$ 27,741	$ 72,540	$ 81,050
Bank service fees	441	307	1,249	984
Gains on sales of securities			1,069	19
Other	115	214	343	594
Total fee revenue and other income	24,932	28,262	75,201	82,647
Interest Income:
Interest and fees on loans	9,067	9,548	27,366	27,564
Interest and dividends on securities:
Taxable	373	612	1,406	1,893
Exempt from federal income taxes	1,753	1,925	5,357	5,956
Interest on federal funds sold and other short-term investments	86	1,581	1,130	4,477
Total interest income	11,279	13,666	35,259	39,890
Interest Expense:
Interest on deposits	465	1,392	1,909	3,987
Interest on short-term borrowings			2
Total interest expense	465	1,392	1,911	3,987
Net interest income	10,814	12,274	33,348	35,903
Provision for loan losses			725	250
Net interest income after provision for loan losses	10,814	12,274	32,623	35,653
Total net revenue	35,746	40,536	107,824	118,300
Operating Expense:
Personnel	22,521	23,514	65,839	68,594
Occupancy	930	973	2,809	2,930
Equipment	1,648	1,554	4,900	4,575
Amortization of intangible assets	215	150	644	359
Other operating expense	3,366	4,372	10,774	12,538
Total operating expense	28,680	30,563	84,966	88,996
Income before income tax expense	7,066	9,973	22,858	29,304
Income tax expense	1,285	1,787	4,093	5,271
Net income	$ 5,781	$ 8,186	$ 18,765	$ 24,033
Basic earnings per share	$ 0.40	$ 0.57	$ 1.31	$ 1.66
Diluted earnings per share	$ 0.40	$ 0.56	$ 1.29	$ 1.64

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Comprehensive Income:
Net income	$ 5,781	$ 8,186	$ 18,765	$ 24,033
Other comprehensive income:
Net unrealized gain on securities available-for-sale	224	1,571	7,209	13,317
Tax effect	(53)	(374)	(1,716)	(3,170)
Reclassification adjustments for gains included in net income			(1,069)	(19)
Tax effect			254	5
Foreign currency translation adjustments	63	(78)	(65)	(74)
Total comprehensive income	$ 6,015	$ 9,305	$ 23,378	$ 34,092

- Definition

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

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+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Flows From Operating Activities:
Net income	$ 18,765	$ 24,033
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8,391	8,103
Gains on sales of securities	(1,069)	(19)
Stock-based compensation expense	2,277	2,286
Provision for loan losses	725	250
Decrease (increase) in income tax liability	527	(1,384)
Increase in pension liability	3,315	3,888
Decrease (increase) in accounts receivable	1,339	(399)
Other operating activities, net	5,791	3,016
Net cash provided by operating activities	40,061	39,774
Cash Flows From Investing Activities:
Proceeds from sales of securities available-for-sale	19,629	4,648
Proceeds from maturities of securities available-for-sale	43,605	18,001
Purchase of securities available-for-sale	(2,931)
Net increase in loans	(171,902)	(45,763)
Decrease (increase) in payments in excess of funding	44,766	(47,448)
Purchases of premises and equipment, net	(1,705)	(1,877)
Acquisition of Gateway Giving, LLC		(3,000)
Net cash used in investing activities	(68,538)	(75,439)
Cash Flows From Financing Activities:
Net increase (decrease) in noninterest-bearing demand deposits	23,290	(2,563)
Net increase (decrease) in interest-bearing demand and savings deposits	136,639	(10,485)
Net (decrease) increase in time deposits	(5,881)	2,355
Net increase in accounts and drafts payable	146,280	57,772
Net decrease in short-term borrowings	(18,000)
Cash dividends paid	(11,704)	(11,317)
Purchase of common shares for treasury	(5,508)	(7,799)
Other financing activities, net	(1,142)	(493)
Net cash provided by financing activities	263,974	27,470
Net increase (decrease) in cash and cash equivalents	235,497	(8,195)
Cash and cash equivalents at beginning of period	203,954	230,933
Cash and cash equivalents at end of period	439,451	222,738
Supplemental information:
Cash paid for interest	1,889	3,831
Cash paid for income taxes	$ 3,567	$ 6,648

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Total
Balance at Dec. 31, 2018	$ 7,753	$ 205,770	$ 75,171	$ (39,974)	$ (18,872)	$ 229,848
Net income			24,033			24,033
Cash dividends			(11,317)			(11,317)
Issuance of common shares pursuant to stock-based compensation plan, net		(1,426)		1,324		(102)
Exercise of SARs		(855)		464		(391)
Stock-based compensation expense		2,286				2,286
Purchase of common shares				(7,799)		(7,799)
Other comprehensive income					10,059	10,059
Balance at Sep. 30, 2019	7,753	205,775	87,887	(45,985)	(8,813)	246,617
Balance at Jun. 30, 2019	7,753	205,463	83,470	(46,333)	(9,932)	240,421
Net income			8,186			8,186
Cash dividends			(3,769)			(3,769)
Issuance of common shares pursuant to stock-based compensation plan, net		(5)		48		43
Exercise of SARs		(552)		300		(252)
Stock-based compensation expense		869				869
Other comprehensive income					1,119	1,119
Balance at Sep. 30, 2019	7,753	205,775	87,887	(45,985)	(8,813)	246,617
Balance at Dec. 31, 2019	7,753	205,397	90,341	(45,381)	(13,920)	244,190
Net income			18,765			18,765
Cash dividends			(11,704)			(11,704)
Issuance of common shares pursuant to stock-based compensation plan, net		(2,378)		1,338		(1,040)
Exercise of SARs		(243)		141		(102)
Stock-based compensation expense		2,277				2,277
Purchase of common shares				(5,508)		(5,508)
Other comprehensive income					4,613	4,613
Balance at Sep. 30, 2020	7,753	205,053	97,402	(49,410)	(9,307)	251,491
Balance at Jun. 30, 2020	7,753	204,258	95,514	(49,457)	(9,541)	248,527
Net income			5,781			5,781
Cash dividends			(3,893)			(3,893)
Issuance of common shares pursuant to stock-based compensation plan, net		(4)		47		43
Stock-based compensation expense		799				799
Other comprehensive income					234	234
Balance at Sep. 30, 2020	$ 7,753	$ 205,053	$ 97,402	$ (49,410)	$ (9,307)	$ 251,491

- Definition

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

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends, per share	$ 0.27	$ 0.26	$ 0.27	$ 0.26
Stock issued pursuant to stock-based compensation	1,165	795	67,790	36,062
Shares repurchased during period			128,779	154,593

Basis of Presentation

9 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

Note 1 – Basis of Presentation

The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included. Certain amounts in prior-period financial statements have been reclassified to conform to the current period’s presentation. For further information, refer to the audited consolidated financial statements and related footnotes included in Cass Information System, Inc.’s (the “Company” or “Cass”) Annual Report on Form 10-K for the year ended December 31, 2019.

Risks and Uncertainties

On March 11, 2020, the World Health Organization declared the outbreak of a novel coronavirus (“COVID-19”) as a global pandemic, which continues to spread throughout the United States and around the world. The declaration of a global pandemic indicates that almost all public commerce and related business activities must be, to varying degrees, curtailed with the goal of decreasing the rate of new infections. This response to the COVID-19 pandemic has resulted in an unprecedented slow-down in economic activity and a related increase in unemployment.

The Company has evaluated subsequent events after the consolidated balance sheet date of September 30, 2020 and the breadth of the impact of the global presence of COVID-19 on the Company’s business is currently unknown. Cass is closely monitoring developments related to COVID-19 checking regularly for updated information and recommendations from the World Health Organization and the U.S. Centers for Disease Control and Prevention, from national, state, and local governments, and evaluating courses of action being taken by peers. The duration and severity of the effect of COVID-19 on economic, market and business conditions remain uncertain. At this time, the Company remains subject to heightened business, operational, market, credit and other risks related to the COVID-19 pandemic, including, but not limited to, those discussed below, which may have an adverse effect on business, financial condition and results of operations.

Financial position and results of operations - The global health crisis caused by COVID-19 has and will continue to negatively impact business activity throughout the world. The COVID-19 outbreak and associated counter-acting measures implemented by governments around the world, as well as increased business uncertainty, are having an adverse impact on the Company’s financial results and are discussed in more detail below. Although in various locations certain activity restrictions have been relaxed with some success, many states and localities are experiencing significant increases in the number of COVID-19 cases, prompting a reinstatement of prior activity restrictions in some locations and the need for additional aid and other forms of relief for affected individuals, businesses and other entities. When and if COVID-19 is demonstrably contained, the Company anticipates a rebound in economic activity; however, any such rebound is contingent upon the rate and effectiveness of the containment efforts deployed by federal, state, and local governments. In light of the evolving health, social, economic and business environment, governmental regulations or mandates, and business disruptions that have occurred and could continue to occur, the aggregate impact that COVID-19 could have on the Company’s financial condition and operating results remains highly uncertain.

In response to COVID-19, the Federal Reserve has taken action to lower the Federal Funds rate, which has adversely affected interest income and therefore, the Company’s results of operations and financial condition. The Federal Reserve has continued its commitment to this approach, indicating that the target Federal Funds rate would remain at current levels until the economy is in a more stable employment and price-stability position.

To the extent the business disruption continues for an extended period, additional cost management actions will be considered. Future asset impairment charges, increases in allowance for loan losses, or restructuring charges could be more likely and will be dependent on the severity and duration of this crisis and its effect on the Company’s borrowers.

For payment processing services, business closures, including constrictions in the manufacturing sector, have led to a decrease in the number of transactions and dollars processed due to the decline in customers’ business activity. In addition, the dampened demand for oil and resulting plummet in oil prices has had, and can continue to have, a negative effect on both the number of freight transactions processed and the dollar amount of invoices processed. Other financial impact could occur though such potential impact is unknown at this time.

Capital and liquidity - While the Company believes that it has sufficient capital to withstand an extended economic recession brought about by COVID-19, its reported and regulatory capital ratios could be adversely impacted by future financial losses.

-8-

The Company maintains access to multiple sources of liquidity. If funding costs are elevated for an extended period of time, it could have an adverse effect on the Company’s net interest margin. If an extended recession caused large numbers of the Bank’s customers to draw down deposits, the Company might become more reliant on more expensive sources of funding.

Asset valuation - Currently, the Company does not expect COVID-19 to affect its ability to fairly value the assets on its balance sheet; however, this could change in future periods. While certain valuation assumptions and judgments will change to account for pandemic-related circumstances such as widening credit spreads, the Company does not anticipate significant changes in methodology used to determine the fair value of assets measured in accordance with GAAP.

The economic slowdown as a result of COVID-19 could cause a further and sustained decline in the Company’s stock price or the occurrence of what management would deem to be a triggering event that could, under certain circumstances, necessitate a goodwill or intangible asset impairment test and result in an impairment charge being recorded for that period. In the event that the Company concludes that all or a portion of its goodwill is impaired, a non-cash charge for the amount of such impairment would be recorded to earnings. Such a charge would have no impact on tangible capital or regulatory capital.

Processes, controls and business continuity - In accord with its federally mandated Pandemic Plan and Business Continuity Plan, Cass has deployed its remote workforce program. Most Cass employees around the globe are now working and conducting business remotely. Employees necessary to oversee certain business coordination activities or to conduct essential physical activities such as mail handling and scanning operations, remain in offices. In addition, employees are now being permitted to return to the offices on a voluntary basis. Employees are required to report any exposure or diagnosis and must adhere to the defined safety protocol to enter the offices.

In the past several years, Cass has invested in sophisticated technology initiatives that enable employees to operate remotely with full system(s) access along with unified and transparent voice and electronic communications capabilities, ensuring seamless service delivery. The Company cannot predict when or how it will fully lift the actions put in place as part of the Business Continuity Plan, including work from home requirements and travel restrictions. Cass does not believe the work from home protocol has materially adversely impacted internal controls, financial reporting systems, or operations.

Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Note 2 – Intangible Assets

The Company accounts for intangible assets in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 350, Goodwill and Other Intangible Assets (“FASB ASC 350”), which requires that intangibles with indefinite useful lives be tested annually for impairment, or when management deems there is a triggering event, and those with finite useful lives be amortized over their useful lives.

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

	September 30, 2020				December 31, 2019
(In thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Assets eligible for amortization:
Customer lists	$	4,778	$	(3,793)	$	4,778	$	(3,463)
Patents		72		(23)		72		(20)
Non-compete agreements		332		(332)		332		(332)
Software		2,844		(638)		2,844		(358)
Trade Name		190		(10)		190		(3)
Other		500		(283)		500		(259)
Unamortized intangible assets:
Goodwill¹		14,489		(227)		14,489		(227)
Total intangible assets	$	23,205	$	(5,306)	$	23,205	$	(4,662)

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 $644,000 and $359,000 for the nine-month periods ended September 30, 2020 and 2019, 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.

Earnings Per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Note 3 – 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. 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.

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

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands except share and per share data)	2020		2019		2020		2019
Basic:
Net income	$	5,781	$	8,186	$	18,765	$	24,033
Weighted-average common shares outstanding		14,348,151		14,417,725		14,373,243		14,435,670
Basic earnings per share	$	.40	$	.57	$	1.31	$	1.66

Diluted:
Net income	$	5,781	$	8,186	$	18,765	$	24,033
Weighted-average common shares outstanding		14,348,151		14,417,725		14,373,243		14,435,670
Effect of dilutive restricted stock and stock appreciation rights		198,336		262,917		200,723		258,123
Weighted-average common shares outstanding assuming dilution		14,546,487		14,680,642		14,573,966		14,693,793
Diluted earnings per share	$	.40	$	.56	$	1.29	$	1.64

Stock Repurchases

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Stock Repurchases

Note 4 – Stock Repurchases

The Company maintains a treasury stock buyback program pursuant to which the Board of Directors has authorized the repurchase of up to 500,000 shares of the Company’s common stock. The program provides that the Company may repurchase up to an aggregate of 500,000 shares of common stock and has no expiration date. The Company did not repurchase shares during the three-month periods ended September 30, 2020 and 2019 and repurchased 128,779 and 154,593 during the nine-month periods ended September 30, 2020 and 2019, respectively. As of September 30, 2020, 371,221 shares remained available for repurchase under the program. Repurchases may be made in the open market or through negotiated transactions from time to time depending on market conditions.

As of March 16, 2020, the Company has temporarily suspended the treasury stock buyback program.

On October 20, 2020, the Board of Directors restored the treasury stock buyback program which authorizes the Company to repurchase up to an aggregate of 500,000 shares.

Industry Segment Information

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Industry Segment Information

Note 5 – 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 the summary of significant accounting policies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. 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:

-10-

•

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.

Summarized information about the Company’s operations in each industry segment is as follows:

(In thousands)	Information Services		Banking Services		Corporate, Eliminations and Other		Total
Three Months Ended September 30, 2020
Fee income	$	24,198	$	651	$	83	$	24,932
Interest income*		6,306		7,212		(1,773)		11,745
Interest expense		─		465		─		465
Intersegment income (expense)		─		593		(593)		─
Tax-equivalized pre-tax income*		5,718		3,506		(1,692)		7,532
Goodwill		12,433		1,829		─		14,262
Other intangible assets, net		837		2,800		─		3,637
Total assets		905,158		1,105,845		(10,540)		2,000,463
Average funding sources		751,010		780,217		─		1,531,227
Three Months Ended September 30, 2019
Fee income	$	28,026	$	257	$	(21)	$	28,262
Interest income*		6,760		7,930		(513)		14,177
Interest expense		—		1,392		—		1,392
Intersegment income (expense)		—		533		(533)		—
Tax-equivalized pre-tax income*		7,619		3,399		(534)		10,484
Goodwill		15,758		136		—		15,894
Other intangible assets, net		3,170		—		—		3,170
Total assets		908,946		862,142		9,922		1,781,010
Average funding sources		704,772		588,226		—		1,292,998
Nine Months Ended September 30, 2020:
Fee income	$	72,098	$	1,906	$	1,197	$	75,201
Interest income*		18,153		21,097		(2,567)		36,683
Interest expense		─		1,911		─		1,911
Intersegment income (expense)		─		1,674		(1,674)		─
Tax-equivalized pre-tax income*		16,462		9,190		(1,370)		24,282
Goodwill		12,433		1,829		─		14,262
Other intangible assets, net		837		2,800		─		3,637
Total assets		905,158		1,105,845		(10,540)		2,000,463
Average funding sources		703,142		712,903		─		1,416,045
Nine Months Ended September 30, 2019
Fee income	$	82,049	$	1,040	$	(442)	$	82,647
Interest income*		19,273		23,082		(883)		41,472
Interest expense		—		3,987		—		3,987
Intersegment income (expense)		—		1,587		(1,587)		—
Tax-equivalized pre-tax income*		21,997		10,214		(1,324)		30,887
Goodwill		15,758		136		—		15,894
Other intangible assets, net		3,170		—		—		3,170
Total assets		908,946		862,142		9,922		1,781,010
Average funding sources		667,741		583,458		—		1,251,199

* Presented on a tax-equivalent basis assuming a tax rate of 21% for both 2020 and 2019. The tax-equivalent adjustment was approximately $466,000 and $511,000 for the Three Months Ended 2020 and 2019, respectively, and $1,424,000 and $1,583,000 for the Nine Months Ended 2020 and 2019, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Loans by Type

9 Months Ended

Sep. 30, 2020

Receivables [Abstract]

Loans by Type

Note 6 – Loans by Type

A summary of loan categories is as follows:

(In thousands)	September 30, 2020		December 31, 2019
Commercial and industrial	$	301,886	$	323,857
Paycheck protection program (“PPP”)		172,211		—
Real estate:
Commercial:
Mortgage		94,792		101,654
Construction		23,795		25,299
Faith-based:
Mortgage		331,419		305,826
Construction		20,452		15,945
Other		2		57
Total loans	$	944,557	$	772,638

-11-

In support of the Coronavirus, Aid, Relief, and Economic Security Act (the “CARES Act”), the Bank had processed nearly 350 applications for PPP loans of approximately $170,000,000 to provide much-needed cash to small business and self-employed taxpayers during the COVID-19 crisis. The loans were primarily made to existing bank customers and are 100% guaranteed by the Small Business Administration and no allowance for loan loss was recorded for these loans.

The following table presents the aging of loans by loan categories at September 30, 2020 and December 31, 2019:

	Performing						Nonperforming
(In thousands)	Current		30-59 Days		60-89 Days		90 Days and Over		Non- accrual		Total Loans
September 30, 2020
Commercial and industrial	$	301,886	$	—	$	—	$	—	$	—	$	301,886
PPP		172,211		—		—		—		—		172,211
Real estate:
Commercial:
Mortgage		94,792		—		—		—		—		94,792
Construction		23,795		—		—		—		—		23,795
Faith-based:
Mortgage		331,419		—		—		—		—		331,419
Construction		20,452		—		—		—		—		20,452
Other		2		—		—		—		—		2
Total	$	944,557	$	—	$	—	$	—	$	—	$	944,557
December 31, 2019
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 credit exposure of the loan portfolio by internally assigned credit grade as of September 30, 2020 and December 31, 2019:

(In thousands)	Loans Subject to Normal Monitoring¹		Performing Loans Subject to Special Monitoring²		Nonperforming Loans Subject to Special Monitoring²		Total Loans
September 30, 2020
Commercial and industrial	$	288,060	$	13,826	$	—	$	301,886
PPP		172,211		—		—		172,211
Real estate:
Commercial:
Mortgage		93,370		1,422		—		94,792
Construction		23,795		—		—		23,795
Faith-based:
Mortgage		328,285		3,134		—		331,419
Construction		20,452		—		—		20,452
Other		2		—		—		2
Total	$	926,175	$	18,382	$	—	$	944,557
December 31, 2019
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 obligations.

² Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention.

-12-

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. To measure impairment at September 30, 2020, the optional use of the practical expedient to use the fair value of collateral was utilized. The Company uses its nonaccrual methods as discussed in greater detail in the Company’s 2019 Annual Report on Form 10-K.

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 nonperforming. 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. Management measures impairment in accordance with FASB ASC 310, Allowance for Credit Losses. 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. There were no non-accrual loans or loans delinquent 90 days or more and still accruing interest at September 30, 2020 or December 31, 2019. There were two loans classified as troubled debt restructurings totaling $10,320,000 and one loan that was considered impaired totaling $2,500,000 at September 30, 2020 and none at December 31, 2019. There were no foreclosed loans recorded as other real estate owned (included in other assets) as of September 30, 2020 or December 31, 2019.

The following table presents the recorded investment and unpaid principal balance for impaired loans at September 30, 2020. There were no impaired loans at December 31, 2019 or September 30, 2019.

(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance for Loan Losses
Commercial and industrial:	$	11,782	$	11,782	$	500
Real estate:
Faith-based:
Mortgage		1,038		1,038		—
Total impaired loans	$	12,820	$	12,820	$	500

A summary of the activity in the allowance for loan losses from December 31, 2019 to September 30, 2020 is as follows:

(In thousands)	December 31, 2019		Charge- Offs		Recoveries		Provision		September 30, 2020
Commercial and industrial	$	4,874	$	—	$	16	$	211	$	5,101
Real estate:
Commercial:
Mortgage		1,528		—		—		(34)		1,494
Construction		191		—		—		(2)		189
Faith-based:
Mortgage		3,842		—		1		510		4,353
Construction		121		—		—		40		161
Total	$	10,556	$	—	$	17	$	725	$	11,298

A summary of the activity in the allowance for loan losses from December 31, 2018 to September 30, 2019 is as follows:

(In thousands)	December 31, 2018		Charge- Offs		Recoveries		Provision		September 30, 2019
Commercial and industrial	$	4,179	$	—	$	34	$	672	$	4,885
Real estate:
Commercial:
Mortgage		1,417		—		—		(161)		1,256
Construction		89		—		—		91		180
Faith-based:
Mortgage		3,961		—		—		32		3,993
Construction		155		—		—		(38)		117
Other		424		—		—		(346)		78
Total	$	10,225	$	—	$	34	$	250	$	10,509

Commitments and Contingencies

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 7 – Commitments and Contingencies

In the normal course of business, the Company is party to activities that contain credit, market and operational risks that are not reflected in whole or in part in the Company’s consolidated financial statements. Such activities include traditional off-balance sheet credit-related financial instruments and commitments under operating leases. 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 September 30, 2020 and December 31, 2019, 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 or its subsidiaries 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. At September 30, 2020, the balance of unused loan commitments and standby and commercial letters of credit were $193,272,000, $10,337,000, and $1,015,000, respectively. Since some of the 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 or its subsidiaries may obtain and liquidate the collateral to recover amounts paid under guarantees on these financial instruments.

-13-

The following table summarizes contractual cash obligations of the Company related to time deposits at September 30, 2020:

Amount of Commitment Expiration per Period

(In thousands)

Total

Less than

1 Year

1-3

Years

3-5

Years

Over 5

Years

Time deposits

65,086

45,574

19,438

—

The Company and its subsidiaries are involved in various pending legal actions and proceedings in which claims for damages are asserted. Management, after discussion with legal counsel, believes the ultimate resolution of these legal actions and proceedings will not have a material effect upon the Company’s consolidated financial position or results of operations.

Stock-Based Compensation

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Note 8 – Stock-Based Compensation

The Amended and Restated Omnibus Stock and Performance Compensation Plan (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. The Company may issue shares out of treasury stock for these awards. During the nine months ended September 30, 2020, 33,568 restricted shares, 32,910 performance-based restricted shares, and no SARs were granted under the Omnibus Plan. Stock-based compensation expense for the three months ended September 30, 2020 and 2019 was $800,000 and $869,000, respectively, and $2,277,000 and $2,286,000 for the nine months ended September 30, 2020 and 2019, respectively.

Restricted Stock

Restricted shares granted to Company employees are amortized to expense over the three-year cliff vesting period. 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 payments for retainer fees which are expensed in the period earned.

As of September 30, 2020, the total unrecognized compensation expense related to non-vested restricted shares was $1,674,000, and the related weighted-average period over which it is expected to be recognized is approximately 0.69 years.

Following is a summary of the activity of the restricted stock:

	Nine Months Ended September 30, 2020
	Shares		Fair Value
Balance at December 31, 2019		123,272	$	47.24
Granted		33,568		47.83
Vested		(20,369)		49.32
Forfeited		(4,962)		50.08
Balance at September 30, 2020		131,509	$	46.96

Performance-Based Restricted Stock

The Company has granted three-year performance based restricted stock (“PBRS”) awards which are contingent upon the Company’s achievement of pre-established financial goals over a three-year cliff vest period. The number of shares issued ranges from 0% to 150% of the target opportunity based on the actual achievement of financial goals for the three-year performance period.

-14-

Following is a summary of the activity of the PBRS, based on target value:

	Nine Months Ended September 30, 2020
	Shares		Fair Value
Balance at December 31, 2019		102,116	$	49.13
Granted		32,910		54.02
Vested		(29,175)		49.33
Forfeited		(7,441)		50.08
Balance at September 30, 2020		98,410	$	50.64

The PBRS that vested during the nine months ended September 30, 2020 achieved financial goals of 117.3%, resulting in the issuance of 34,222 shares of common stock. The outstanding PBRS at September 30, 2020 will vest at scheduled vesting dates and the actual number of shares of common stock issued will range from 0% to 150% of the target opportunity based on the actual achievement of financial goals for the respective three-year performance period.

SARs

There were no SARs granted and no expense recognized during the three months ended September 30, 2020. Following is a summary of the activity of the Company’s SARs program for the nine-month period ended September 30, 2020:

	Shares	Weighted- Average Exercise Price		Average Remaining Contractual Term Years	Aggregate Intrinsic Value (In thousands)
Balance at December 31, 2019	155,292	$	32.58	2.92	$	3,908
Exercised	(10,293)		26.72	—		—
Exercisable at September 30, 2020	144,999	$	32.99	2.20	$	1,247

There were no non-vested SARs at September 30, 2020.

Defined Pension Plans

9 Months Ended

Sep. 30, 2020

Retirement Benefits [Abstract]

Defined Pension Plans

Note 9 – Defined Pension Plans

The Company has a noncontributory defined-benefit pension 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. Disclosure information is based on a measurement date of December 31 of the corresponding year. The following table represents the components of the net periodic pension costs:

(In thousands)	Estimated 2020		Actual 2019
Service cost – benefits earned during the year	$	4,329	$	3,555
Interest cost on projected benefit obligations		3,908		4,103
Expected return on plan assets		(6,049)		(4,753)
Net amortization		1,946		1,559
Net periodic pension cost	$	4,134	$	4,464

Pension costs recorded to expense were $1,103,000 and $1,178,000 for the three-month periods ended September 30, 2020 and 2019, respectively, and totaled $3,159,000 and $3,543,000 for the nine-month periods ended September 30, 2020 and 2019, respectively. Pension costs decreased in 2020 primarily due to improved asset performance and a contribution made during 2019, which were partially offset by a decrease in the discount rate. The Company made no contribution to the plan during the nine-month period ended September 30, 2020 and is evaluating the amount of additional contributions, if any, in the remainder of 2020.

-15-

In addition to the above funded benefit plan, the Company has an unfunded supplemental executive retirement plan which covers key executives of the Company. This is a noncontributory plan in which the Company and its subsidiaries make accruals designed to fund normal service costs on a current basis using the same method and criteria as its defined benefit plan. The following table represents the components of the net periodic pension costs for 2019 and an estimate for 2020:

(In thousands)	Estimated 2020		Actual 2019
Service cost – benefits earned during the year	$	121	$	97
Interest cost on projected benefit obligation		347		408
Net amortization		112		276
Net periodic pension cost	$	580	$	781

Pension costs recorded to expense were $145,000 and $195,000 for the three-month periods ended September 30, 2020 and 2019, respectively, and were $435,000 and $586,000 for the nine-month periods ended September 30, 2020 and 2019, respectively. Pension costs decreased primarily due to the unrecognized loss being amortized over the remaining expected life of the participants rather than the remaining expected service period as almost all of the plan’s participants are inactive. This was partially offset by a decrease in the discount rate.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Income Taxes

9 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Note 10 – Income Taxes

The effective tax rate was 18.2% and 17.9% for the three-month periods ended September 30, 2020 and 2019, respectively, and 17.9% and 18.0% for the nine-month periods ended September 30, 2020 and 2019, respectively. The 2020 and 2019 effective tax rates for the three and nine-month periods differ from the statutory rate of 21% primarily due to the tax-exempt interest received from municipal bonds.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Investment in Securities

9 Months Ended

Sep. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Investment in Securities

Note 11 – 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 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 fall into the Level 2 category. The amortized cost, gross unrealized gains, gross unrealized losses and fair value of investment securities are summarized as follows:

	September 30, 2020
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State and political subdivisions	$	285,667	$	19,249	$	22	$	304,894
U.S. government agencies		59,294		977		—		60,271
Total	$	344,961	$	20,226	$	22	$	365,165

	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

-16-

The fair values of securities with unrealized losses at September 30, 2020 are as follows:

	September 30, 2020
	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
U.S. government agencies	$	1,793	$	22	$	—	$	—	$	1,793	$	22
Total	$	1,793		22		—		—		1,793		22

The fair values of securities with unrealized losses at December 31, 2019 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
U.S. government agencies	$	3,801	$	12	$	17,593	$	157	$	21,394	$	169
Total	$	3,801	$	12	$	17,593	$	157	$	21,394	$	169

There were 2 securities, or 1% of the total (none greater than 12 months) in an unrealized loss position as of September 30, 2020. There were 9 securities, or 3% of the total (7 greater than 12 months), in an unrealized loss position as of December 31, 2019.

The amortized cost and fair value of investment 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.

	September 30, 2020
(In thousands)	Amortized Cost		Fair Value
Due in 1 year or less	$	49,435	$	49,876
Due after 1 year through 5 years		93,433		98,084
Due after 5 years through 10 years		172,368		186,537
Due after 10 years		29,725		30,668
Total	$	344,961	$	365,165

Proceeds from sales of investment securities classified as available-for-sale were $0 for each of the three month periods ended September 30, 2020 and 2019, and were $19,629,000 and $4,648,000 for the nine months ended September 30, 2020 and 2019, respectively. There were no gross realized gains for the three months ended September 30, 2020 or 2019. Gross realized gains were $1,069,000 and $19,000 for the nine months ended September 30, 2020 and 2019, respectively. There were no securities pledged to secure public deposits and for other purposes at September 30, 2019.

Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Note 12 – Fair Value of Financial Instruments

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

	September 30, 2020				December 31, 2019
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Balance sheet assets:
Cash and cash equivalents	$	439,451	$	439,451	$	203,954	$	203,954
Investment securities		365,165		365,165		422,665		422,665
Loans, net		933,259		931,172		762,082		776,653
Accrued interest receivable		6,300		6,300		6,706		6,706
Total	$	1,744,175	$	1,742,088	$	1,395,407	$	1,409,978
Balance sheet liabilities:
Deposits	$	911,185	$	911,185	$	757,136	$	757,790
Accounts and drafts payable		771,607		771,607		684,295		684,295
Accrued interest payable		125		125		103		103
Total	$	1,682,917	$	1,682,917	$	1,441,534	$	1,442,188

-17-

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 11, “Investment in Securities,” for fair value and unrealized gains and losses by investment type.

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 result in a fair 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.

No financial instruments are measured using Level 3 inputs for the three months ended September 30, 2020 and 2019.

- 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

Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Note 13 – Revenue from Contracts with Customers

The services that fall within the scope of FASB ASC 606, Revenue from Contracts with Customers (“FASB ASC 606”), are presented within fee revenue and other income in the Consolidated Statements of Income and are recognized as revenue as the obligation to the customer is satisfied. Services within the scope of FASB ASC 606 include invoice processing and payment fees, bank service fees, and other real estate owned (“OREO”). 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 guidance.

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 contracts have no significant impact of 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 of 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 of 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.

-18-

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(In thousands)	2020		2019		2020		2019
Fee revenue and other income
In-scope of FASB ASC 606
Invoice processing fees	$	18,650	$	20,408	$	55,697	$	61,397
Invoice payment fees		5,726		7,333		16,843		19,653
Information services payment and processing revenue		24,376		27,741		72,540		81,050
Bank service fees		441		307		1,249		984
Fee revenue (in-scope of FASB ASC 606)		24,817		28,048		73,789		82,034
Other income (out-of-scope of FASB ASC 606)		115		214		1,412		613
Total fee revenue and other income		24,932		28,262		75,201		82,647

Net interest income after provision for loan losses (out-of-scope of FASB ASC 606)¹		10,814		12,274		32,623		35,653
Total net revenue	$	35,746	$	40,536	$	107,824	$	118,300

¹ The Company earns interest income from the balances generated during the invoice processing and payment cycle and on deposit accounts, which is an integral component of the Company’s revenue, but is out-of-scope of FASB ASC 606.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=49130388

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+ Details

Leases

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Leases

Note 14 – Leases

On January 1, 2019, the Company adopted Accounting Standards Update (“ASU”) No. 2016-02 – Leases (ASC Topic 842). The Company leases certain premises under operating leases. As of September 30, 2020, the Company had lease liabilities of $6,553,000 and right-of-use assets of $5,887,000. As of September 30, 2019, the Company had lease liabilities of $7,019,000 and right-of-use assets of $6,241,000. Lease liabilities and right-of-use assets are reflected in other liabilities and other assets, respectively. Presented within occupancy expense on the Consolidated Statements of Income for the three months ended September 30, 2020, operating lease cost was $420,000, short-term lease cost was $19,000, and there was no variable lease cost. For the nine months ended September 30, 2020, the operating lease cost was $1,257,000, short-term lease cost was $76,000, and there was no variable lease cost. For the three months ended September 30, 2020, 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, 2019. See the Company’s 2019 Annual Report on Form 10-K for information regarding these commitments.

A maturity analysis of operating lease liabilities and undiscounted cash flows as of September 30, 2020 is as follows:

(In thousands)	September 30, 2020
Lease payments due
Less than 1 year	$	1,819
1-2 years		1,683
2-3 years		1,062
3-4 years		502
4-5 years		512
Over 5 years		2,150
Total undiscounted cash flows		7,728
Discount on cash flows		1,175
Total lease liability	$	6,553

There were no sale and leaseback transactions, leveraged leases, or lease transactions with related parties during the nine months ended September 30, 2020. At September 30, 2020, the Company did not have any leases that had not yet commenced.

Subsequent Events

9 Months Ended

Sep. 30, 2020

Subsequent Events [Abstract]

Subsequent Events

Note 15 – Subsequent Events

In accordance with FASB ASC 855, Subsequent Events, the Company has evaluated subsequent events after the consolidated balance sheet date of September 30, 2020, and there were no events identified that would require additional disclosures to prevent the Company’s unaudited consolidated financial statements from being misleading.

Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Company's Intangible Assets

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

	September 30, 2020				December 31, 2019
(In thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Assets eligible for amortization:
Customer lists	$	4,778	$	(3,793)	$	4,778	$	(3,463)
Patents		72		(23)		72		(20)
Non-compete agreements		332		(332)		332		(332)
Software		2,844		(638)		2,844		(358)
Trade Name		190		(10)		190		(3)
Other		500		(283)		500		(259)
Unamortized intangible assets:
Goodwill¹		14,489		(227)		14,489		(227)
Total intangible assets	$	23,205	$	(5,306)	$	23,205	$	(4,662)

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

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share

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

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands except share and per share data)	2020		2019		2020		2019
Basic:
Net income	$	5,781	$	8,186	$	18,765	$	24,033
Weighted-average common shares outstanding		14,348,151		14,417,725		14,373,243		14,435,670
Basic earnings per share	$	.40	$	.57	$	1.31	$	1.66

Diluted:
Net income	$	5,781	$	8,186	$	18,765	$	24,033
Weighted-average common shares outstanding		14,348,151		14,417,725		14,373,243		14,435,670
Effect of dilutive restricted stock and stock appreciation rights		198,336		262,917		200,723		258,123
Weighted-average common shares outstanding assuming dilution		14,546,487		14,680,642		14,573,966		14,693,793
Diluted earnings per share	$	.40	$	.56	$	1.29	$	1.64

Industry Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Summary of Company's Operations in Each Segment

Summarized information about the Company’s operations in each industry segment is as follows:

(In thousands)	Information Services		Banking Services		Corporate, Eliminations and Other		Total
Three Months Ended September 30, 2020
Fee income	$	24,198	$	651	$	83	$	24,932
Interest income*		6,306		7,212		(1,773)		11,745
Interest expense		─		465		─		465
Intersegment income (expense)		─		593		(593)		─
Tax-equivalized pre-tax income*		5,718		3,506		(1,692)		7,532
Goodwill		12,433		1,829		─		14,262
Other intangible assets, net		837		2,800		─		3,637
Total assets		905,158		1,105,845		(10,540)		2,000,463
Average funding sources		751,010		780,217		─		1,531,227
Three Months Ended September 30, 2019
Fee income	$	28,026	$	257	$	(21)	$	28,262
Interest income*		6,760		7,930		(513)		14,177
Interest expense		—		1,392		—		1,392
Intersegment income (expense)		—		533		(533)		—
Tax-equivalized pre-tax income*		7,619		3,399		(534)		10,484
Goodwill		15,758		136		—		15,894
Other intangible assets, net		3,170		—		—		3,170
Total assets		908,946		862,142		9,922		1,781,010
Average funding sources		704,772		588,226		—		1,292,998
Nine Months Ended September 30, 2020:
Fee income	$	72,098	$	1,906	$	1,197	$	75,201
Interest income*		18,153		21,097		(2,567)		36,683
Interest expense		─		1,911		─		1,911
Intersegment income (expense)		─		1,674		(1,674)		─
Tax-equivalized pre-tax income*		16,462		9,190		(1,370)		24,282
Goodwill		12,433		1,829		─		14,262
Other intangible assets, net		837		2,800		─		3,637
Total assets		905,158		1,105,845		(10,540)		2,000,463
Average funding sources		703,142		712,903		─		1,416,045
Nine Months Ended September 30, 2019
Fee income	$	82,049	$	1,040	$	(442)	$	82,647
Interest income*		19,273		23,082		(883)		41,472
Interest expense		—		3,987		—		3,987
Intersegment income (expense)		—		1,587		(1,587)		—
Tax-equivalized pre-tax income*		21,997		10,214		(1,324)		30,887
Goodwill		15,758		136		—		15,894
Other intangible assets, net		3,170		—		—		3,170
Total assets		908,946		862,142		9,922		1,781,010
Average funding sources		667,741		583,458		—		1,251,199

Loans by Type (Tables)

9 Months Ended

Sep. 30, 2020

Receivables [Abstract]

Summary of Loan Categories

A summary of loan categories is as follows:

(In thousands)	September 30, 2020		December 31, 2019
Commercial and industrial	$	301,886	$	323,857
Paycheck protection program (“PPP”)		172,211		—
Real estate:
Commercial:
Mortgage		94,792		101,654
Construction		23,795		25,299
Faith-based:
Mortgage		331,419		305,826
Construction		20,452		15,945
Other		2		57
Total loans	$	944,557	$	772,638

Schedule of the Aging Loans by Loan Categories

The following table presents the aging of loans by loan categories at September 30, 2020 and December 31, 2019:

	Performing						Nonperforming
(In thousands)	Current		30-59 Days		60-89 Days		90 Days and Over		Non- accrual		Total Loans
September 30, 2020
Commercial and industrial	$	301,886	$	—	$	—	$	—	$	—	$	301,886
PPP		172,211		—		—		—		—		172,211
Real estate:
Commercial:
Mortgage		94,792		—		—		—		—		94,792
Construction		23,795		—		—		—		—		23,795
Faith-based:
Mortgage		331,419		—		—		—		—		331,419
Construction		20,452		—		—		—		—		20,452
Other		2		—		—		—		—		2
Total	$	944,557	$	—	$	—	$	—	$	—	$	944,557
December 31, 2019
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

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 September 30, 2020 and December 31, 2019:

(In thousands)	Loans Subject to Normal Monitoring¹		Performing Loans Subject to Special Monitoring²		Nonperforming Loans Subject to Special Monitoring²		Total Loans
September 30, 2020
Commercial and industrial	$	288,060	$	13,826	$	—	$	301,886
PPP		172,211		—		—		172,211
Real estate:
Commercial:
Mortgage		93,370		1,422		—		94,792
Construction		23,795		—		—		23,795
Faith-based:
Mortgage		328,285		3,134		—		331,419
Construction		20,452		—		—		20,452
Other		2		—		—		2
Total	$	926,175	$	18,382	$	—	$	944,557
December 31, 2019
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 obligations.

² Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention.

Schedule of Recorded Investment and Unpaid Principal Balance for Impaired Loans

The following table presents the recorded investment and unpaid principal balance for impaired loans at September 30, 2020. There were no impaired loans at December 31, 2019 or September 30, 2019.

(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance for Loan Losses
Commercial and industrial:	$	11,782	$	11,782	$	500
Real estate:
Faith-based:
Mortgage		1,038		1,038		—
Total impaired loans	$	12,820	$	12,820	$	500

Summary of the Allowance for Loan Losses

A summary of the activity in the allowance for loan losses from December 31, 2019 to September 30, 2020 is as follows:

(In thousands)	December 31, 2019		Charge- Offs		Recoveries		Provision		September 30, 2020
Commercial and industrial	$	4,874	$	—	$	16	$	211	$	5,101
Real estate:
Commercial:
Mortgage		1,528		—		—		(34)		1,494
Construction		191		—		—		(2)		189
Faith-based:
Mortgage		3,842		—		1		510		4,353
Construction		121		—		—		40		161
Total	$	10,556	$	—	$	17	$	725	$	11,298

A summary of the activity in the allowance for loan losses from December 31, 2018 to September 30, 2019 is as follows:

(In thousands)	December 31, 2018		Charge- Offs		Recoveries		Provision		September 30, 2019
Commercial and industrial	$	4,179	$	—	$	34	$	672	$	4,885
Real estate:
Commercial:
Mortgage		1,417		—		—		(161)		1,256
Construction		89		—		—		91		180
Faith-based:
Mortgage		3,961		—		—		32		3,993
Construction		155		—		—		(38)		117
Other		424		—		—		(346)		78
Total	$	10,225	$	—	$	34	$	250	$	10,509

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Summary of Contractual Cash Obligation of Operating Lease Commitments

The following table summarizes contractual cash obligations of the Company related to time deposits at September 30, 2020:

Amount of Commitment Expiration per Period

(In thousands)

Total

Less than

1 Year

1-3

Years

3-5

Years

Over 5

Years

Time deposits

65,086

45,574

19,438

—

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Summary of Restricted Stock Activity

Following is a summary of the activity of the restricted stock:

	Nine Months Ended September 30, 2020
	Shares		Fair Value
Balance at December 31, 2019		123,272	$	47.24
Granted		33,568		47.83
Vested		(20,369)		49.32
Forfeited		(4,962)		50.08
Balance at September 30, 2020		131,509	$	46.96

Summary of PBRS Activity

Following is a summary of the activity of the PBRS, based on target value:

	Nine Months Ended September 30, 2020
	Shares		Fair Value
Balance at December 31, 2019		102,116	$	49.13
Granted		32,910		54.02
Vested		(29,175)		49.33
Forfeited		(7,441)		50.08
Balance at September 30, 2020		98,410	$	50.64

Summary of SARs Activity

	Shares	Weighted- Average Exercise Price		Average Remaining Contractual Term Years	Aggregate Intrinsic Value (In thousands)
Balance at December 31, 2019	155,292	$	32.58	2.92	$	3,908
Exercised	(10,293)		26.72	—		—
Exercisable at September 30, 2020	144,999	$	32.99	2.20	$	1,247

Defined Pension Plans (Tables)

9 Months Ended

Sep. 30, 2020

Retirement Benefits [Abstract]

Schedule of Net Periodic Pension Costs

(In thousands)	Estimated 2020		Actual 2019
Service cost – benefits earned during the year	$	4,329	$	3,555
Interest cost on projected benefit obligations		3,908		4,103
Expected return on plan assets		(6,049)		(4,753)
Net amortization		1,946		1,559
Net periodic pension cost	$	4,134	$	4,464

Schedule of Unfunded Supplemental Executive Retirement Plan

(In thousands)	Estimated 2020		Actual 2019
Service cost – benefits earned during the year	$	121	$	97
Interest cost on projected benefit obligation		347		408
Net amortization		112		276
Net periodic pension cost	$	580	$	781

Investment in Securities (Tables)

9 Months Ended

Sep. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities

	September 30, 2020
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State and political subdivisions	$	285,667	$	19,249	$	22	$	304,894
U.S. government agencies		59,294		977		—		60,271
Total	$	344,961	$	20,226	$	22	$	365,165

	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

Schedule of the Fair Value of Securities with Unrealized Losses

The fair values of securities with unrealized losses at September 30, 2020 are as follows:

	September 30, 2020
	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
U.S. government agencies	$	1,793	$	22	$	—	$	—	$	1,793	$	22
Total	$	1,793		22		—		—		1,793		22

The fair values of securities with unrealized losses at December 31, 2019 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
U.S. government agencies	$	3,801	$	12	$	17,593	$	157	$	21,394	$	169
Total	$	3,801	$	12	$	17,593	$	157	$	21,394	$	169

Schedule of Amortized Cost and Fair Value of Investment

	September 30, 2020
(In thousands)	Amortized Cost		Fair Value
Due in 1 year or less	$	49,435	$	49,876
Due after 1 year through 5 years		93,433		98,084
Due after 5 years through 10 years		172,368		186,537
Due after 10 years		29,725		30,668
Total	$	344,961	$	365,165

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Summary of the Fair Value of Financial Instruments

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

	September 30, 2020				December 31, 2019
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Balance sheet assets:
Cash and cash equivalents	$	439,451	$	439,451	$	203,954	$	203,954
Investment securities		365,165		365,165		422,665		422,665
Loans, net		933,259		931,172		762,082		776,653
Accrued interest receivable		6,300		6,300		6,706		6,706
Total	$	1,744,175	$	1,742,088	$	1,395,407	$	1,409,978
Balance sheet liabilities:
Deposits	$	911,185	$	911,185	$	757,136	$	757,790
Accounts and drafts payable		771,607		771,607		684,295		684,295
Accrued interest payable		125		125		103		103
Total	$	1,682,917	$	1,682,917	$	1,441,534	$	1,442,188

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Revenue from Contracts with Customers

-18-

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(In thousands)	2020		2019		2020		2019
Fee revenue and other income
In-scope of FASB ASC 606
Invoice processing fees	$	18,650	$	20,408	$	55,697	$	61,397
Invoice payment fees		5,726		7,333		16,843		19,653
Information services payment and processing revenue		24,376		27,741		72,540		81,050
Bank service fees		441		307		1,249		984
Fee revenue (in-scope of FASB ASC 606)		24,817		28,048		73,789		82,034
Other income (out-of-scope of FASB ASC 606)		115		214		1,412		613
Total fee revenue and other income		24,932		28,262		75,201		82,647

Net interest income after provision for loan losses (out-of-scope of FASB ASC 606)¹		10,814		12,274		32,623		35,653
Total net revenue	$	35,746	$	40,536	$	107,824	$	118,300

Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Schedule of Operating Lease Liabilities

A maturity analysis of operating lease liabilities and undiscounted cash flows as of September 30, 2020 is as follows:

(In thousands)	September 30, 2020
Lease payments due
Less than 1 year	$	1,819
1-2 years		1,683
2-3 years		1,062
3-4 years		502
4-5 years		512
Over 5 years		2,150
Total undiscounted cash flows		7,728
Discount on cash flows		1,175
Total lease liability	$	6,553

Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 215	$ 150	$ 644	$ 359
2020	859		859
2021	859		859
2022	540		540
2023	540		540
2024	$ 498		$ 498
Customer Lists [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			7 years
Customer Lists [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			10 years
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			18 years
Non-compete Agreements [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			2 years
Non-compete Agreements [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			5 years
Software [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			3 years
Software [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			7 years
Trade Name [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			20 years
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			15 years

Intangible Assets (Schedule of Company's Intangible Assets) (Details) - USD ($)
$ in Thousands

Sep. 30, 2020

Dec. 31, 2019

Unamortized intangible assets:

Goodwill, Gross Carrying Amount

^[1]

$ 14,489

Goodwill, Accumulated Amortization

^[1]

(227)

Total intangible assets

23,205

Accumulated Amortization

(5,306)

(4,662)

Customer Lists [Member]

Assets eligible for amortization:

Gross Carrying Amount

4,778

Accumulated Amortization

(3,793)

(3,463)

Patents [Member]

Assets eligible for amortization:

Gross Carrying Amount

Accumulated Amortization

(23)

(20)

Non-compete Agreements [Member]

Assets eligible for amortization:

Gross Carrying Amount

332

Accumulated Amortization

(332)

Software [Member]

Assets eligible for amortization:

Gross Carrying Amount

2,844

Accumulated Amortization

(638)

(358)

Trade Name [Member]

Assets eligible for amortization:

Gross Carrying Amount

190

Accumulated Amortization

(10)

(3)

Other [Member]

Assets eligible for amortization:

Gross Carrying Amount

500

Accumulated Amortization

$ (283)

$ (259)

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

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Basic:
Net income	$ 5,781	$ 8,186	$ 18,765	$ 24,033
Weighted-average common shares outstanding	14,348,151	14,417,725	14,373,243	14,435,670
Basic earnings per share	$ 0.40	$ 0.57	$ 1.31	$ 1.66
Diluted:
Net Income	$ 5,781	$ 8,186	$ 18,765	$ 24,033
Weighted-average common shares outstanding	14,348,151	14,417,725	14,373,243	14,435,670
Effect of dilutive restricted stock and stock appreciation rights	198,336	262,917	200,723	258,123
Weighted-average common shares outstanding assuming dilution	14,546,487	14,680,642	14,573,966	14,693,793
Diluted earnings per share	$ 0.40	$ 0.56	$ 1.29	$ 1.64

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-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=121326447&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 8: 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(23))
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
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-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
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-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256

Reference 14: 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=121326447&loc=SL5780133-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Section 45
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-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 11
-Subparagraph (b)
-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 250
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-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
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-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (SX 210.7-04(23))
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256

Reference 14: 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(25))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

+ Details

- Definition

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

+ References

+ Details

Stock Repurchases (Details) - shares	9 Months Ended
Stock Repurchases (Details) - shares	Sep. 30, 2020	Sep. 30, 2019	Oct. 30, 2020
Number of shares authorized to be repurchased	500,000
Shares repurchased	128,779	154,593
Remaining number of shares available for repurchase	371,221
Subsequent Event [Member]
Number of shares authorized to be repurchased			500,000

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

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Dec. 31, 2019

Fee revenue and other income:

Fee income

$ 24,932

$ 28,262

$ 75,201

$ 82,647

Interest income

^[1]

11,745

14,177

36,683

41,472

Interest expense

465

1,392

1,911

3,987

Intersegment income (expense)

Tax-equivalized pre-tax income

^[1]

7,532

10,484

24,282

30,887

Goodwill

14,262

15,894

14,262

15,894

$ 14,262

Other intangible assets, net

3,637

3,170

3,637

3,170

Total assets

2,000,463

1,781,010

2,000,463

1,781,010

$ 1,764,243

Average funding sources

1,531,227

1,292,998

$ 1,416,045

$ 1,251,199

Tax-equivalent basis tax rate

21.00%

Tax-equivalent adjustment

466

511

$ 1,424

$ 1,583

Information Services [Member]

Fee revenue and other income:

Fee income

24,198

28,026

72,098

82,049

Interest income

^[1]

6,306

6,760

18,153

19,273

Interest expense

Intersegment income (expense)

Tax-equivalized pre-tax income

^[1]

5,718

7,619

16,462

21,997

Goodwill

12,433

15,758

12,433

15,758

Other intangible assets, net

837

3,170

837

3,170

Total assets

905,158

908,946

905,158

908,946

Average funding sources

751,010

704,772

703,142

667,741

Banking Services [Member]

Fee revenue and other income:

Fee income

651

257

1,906

1,040

Interest income

^[1]

7,212

7,930

21,097

23,082

Interest expense

465

1,392

1,911

3,987

Intersegment income (expense)

593

533

1,674

1,587

Tax-equivalized pre-tax income

^[1]

3,506

3,399

9,190

10,214

Goodwill

1,829

136

1,829

136

Other intangible assets, net

2,800

Total assets

1,105,845

862,142

1,105,845

862,142

Average funding sources

780,217

588,226

712,903

583,458

Corporate, Eliminations and Other [Member]

Fee revenue and other income:

Fee income

(21)

1,197

(442)

Interest income

^[1]

(1,773)

(513)

(2,567)

(883)

Interest expense

Intersegment income (expense)

(593)

(533)

(1,674)

(1,587)

Tax-equivalized pre-tax income

^[1]

(1,692)

(534)

(1,370)

(1,324)

Goodwill

Other intangible assets, net

Total assets

(10,540)

9,922

(10,540)

9,922

Average funding sources

[1]	Presented on a tax-equivalent basis assuming a tax rate of 21% for both 2020 and 2019. The tax-equivalent adjustment was approximately $466,000 and $511,000 for the Three Months Ended 2020 and 2019, respectively, and $1,424,000 and $1,583,000 for the Nine Months Ended 2020 and 2019, respectively.

Loans by Type (Narrative) (Details) $ in Thousands	Sep. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)
Receivables [Abstract]
Number of PPP loans processed during Covid 19	350
Loan processed under PPP loans during Covid 19	$ 170,000
Percentage of guarantee by small business administration during Covid 19	100.00%
Impaired loans, ALLL	$ 2,500
Loans classified as troubled debt restructuring	$ 10,320

Loans by Type (Summary of Loan Categories) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Participating Mortgage Loans [Line Items]
Loans	$ 944,557	$ 772,638
Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Loans	301,886	323,857
Paycheck protection program ("PPP") [Member]
Participating Mortgage Loans [Line Items]
Loans	172,211
Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Loans	94,792	101,654
Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Loans	23,795	25,299
Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Loans	331,419	305,826
Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Loans	20,452	15,945
Other Loan [Member]
Participating Mortgage Loans [Line Items]
Loans	$ 2	$ 57

Loans by Type (Schedule of the Aging of Loans by Loan Categories) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	944,557	772,638
Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	301,886	323,857
Paycheck protection program ("PPP") [Member]
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	172,211
Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	94,792	101,654
Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	23,795	25,299
Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	331,419	305,826
Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	20,452	15,945
Other Financing Receivable [Member]
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	2	57
Current [Member]
Participating Mortgage Loans [Line Items]
Current	944,557	772,638
Current [Member] \| Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Current	301,886	323,857
Current [Member] \| Paycheck protection program ("PPP") [Member]
Participating Mortgage Loans [Line Items]
Current	172,211
Current [Member] \| Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Current	94,792	101,654
Current [Member] \| Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Current	23,795	25,299
Current [Member] \| Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Current	331,419	305,826
Current [Member] \| Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Current	20,452	15,945
Current [Member] \| Other Financing Receivable [Member]
Participating Mortgage Loans [Line Items]
Current	2	57
30 to 59 Days Past Due [Member]
Participating Mortgage Loans [Line Items]
Past due
30 to 59 Days Past Due [Member] \| Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Past due
30 to 59 Days Past Due [Member] \| Paycheck protection program ("PPP") [Member]
Participating Mortgage Loans [Line Items]
Past due
30 to 59 Days Past Due [Member] \| Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Past due
30 to 59 Days Past Due [Member] \| Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Past due
30 to 59 Days Past Due [Member] \| Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Past due
30 to 59 Days Past Due [Member] \| Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Past due
30 to 59 Days Past Due [Member] \| Other Financing Receivable [Member]
Participating Mortgage Loans [Line Items]
Past due
60 to 89 Days Past Due [Member]
Participating Mortgage Loans [Line Items]
Past due
60 to 89 Days Past Due [Member] \| Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Past due
60 to 89 Days Past Due [Member] \| Paycheck protection program ("PPP") [Member]
Participating Mortgage Loans [Line Items]
Past due
60 to 89 Days Past Due [Member] \| Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Past due
60 to 89 Days Past Due [Member] \| Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Past due
60 to 89 Days Past Due [Member] \| Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Past due
60 to 89 Days Past Due [Member] \| Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Past due
60 to 89 Days Past Due [Member] \| Other Financing Receivable [Member]
Participating Mortgage Loans [Line Items]
Past due
90 Days and Over [Member]
Participating Mortgage Loans [Line Items]
Past due
90 Days and Over [Member] \| Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Past due
90 Days and Over [Member] \| Paycheck protection program ("PPP") [Member]
Participating Mortgage Loans [Line Items]
Past due
90 Days and Over [Member] \| Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Past due
90 Days and Over [Member] \| Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Past due
90 Days and Over [Member] \| Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Past due
90 Days and Over [Member] \| Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Past due
90 Days and Over [Member] \| Other Financing Receivable [Member]
Participating Mortgage Loans [Line Items]
Past due

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

Sep. 30, 2020

Dec. 31, 2019

Participating Mortgage Loans [Line Items]

Loans

$ 944,557

$ 772,638

Loans Subject To Normal Monitoring [Member]

Participating Mortgage Loans [Line Items]

Loans

^[1]

926,175

767,714

Performing Loans Subject To Special Monitoring [Member]

Participating Mortgage Loans [Line Items]

Loans

^[2]

18,382

4,924

Nonperforming Loans Subject To Special Monitoring [Member]

Participating Mortgage Loans [Line Items]

Loans

^[2]

Commercial and Industrial [Member]

Participating Mortgage Loans [Line Items]

Loans

301,886

323,857

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

Participating Mortgage Loans [Line Items]

Loans

^[1]

288,060

321,554

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

Participating Mortgage Loans [Line Items]

Loans

^[2]

13,826

2,303

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

Participating Mortgage Loans [Line Items]

Loans

^[2]

Paycheck protection program ("PPP") [Member]

Participating Mortgage Loans [Line Items]

Loans

172,211

Paycheck protection program ("PPP") [Member] | Loans Subject To Normal Monitoring [Member]

Participating Mortgage Loans [Line Items]

Loans

^[1]

172,211

Paycheck protection program ("PPP") [Member] | Performing Loans Subject To Special Monitoring [Member]

Participating Mortgage Loans [Line Items]

Loans

^[2]

Paycheck protection program ("PPP") [Member] | Nonperforming Loans Subject To Special Monitoring [Member]

Participating Mortgage Loans [Line Items]

Loans

^[2]

Real Estate Commercial Mortgage [Member]

Participating Mortgage Loans [Line Items]

Loans

94,792

101,654

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

Participating Mortgage Loans [Line Items]

Loans

^[1]

93,370

100,346

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

Participating Mortgage Loans [Line Items]

Loans

^[2]

1,422

1,308

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

Participating Mortgage Loans [Line Items]

Loans

^[2]

Real Estate Commercial Construction [Member]

Participating Mortgage Loans [Line Items]

Loans

23,795

25,299

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

Participating Mortgage Loans [Line Items]

Loans

^[1]

23,795

25,299

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

Participating Mortgage Loans [Line Items]

Loans

^[2]

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

Participating Mortgage Loans [Line Items]

Loans

^[2]

Real Estate Faith-based Mortgage [Member]

Participating Mortgage Loans [Line Items]

Loans

331,419

305,826

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

Participating Mortgage Loans [Line Items]

Loans

^[1]

328,285

304,513

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

Participating Mortgage Loans [Line Items]

Loans

^[2]

3,134

1,313

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

Participating Mortgage Loans [Line Items]

Loans

^[2]

Real Estate Faith-based Construction [Member]

Participating Mortgage Loans [Line Items]

Loans

20,452

15,945

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

Participating Mortgage Loans [Line Items]

Loans

^[1]

20,452

15,945

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

Participating Mortgage Loans [Line Items]

Loans

^[2]

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

Participating Mortgage Loans [Line Items]

Loans

^[2]

Other Financing Receivable [Member]

Participating Mortgage Loans [Line Items]

Loans

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

Participating Mortgage Loans [Line Items]

Loans

^[1]

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

Participating Mortgage Loans [Line Items]

Loans

^[2]

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

Participating Mortgage Loans [Line Items]

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 obligations.
[2]	Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention.

Loans by Type (Schedule of Recorded Investment and Unpaid Principal Balance for Impaired Loans) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Impaired [Line Items]
Related Allowance for Loan Losses	$ 2,500
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	11,782
Unpaid Principal Balance	11,782
Related Allowance for Loan Losses	500
Real Estate Faith-based Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	1,038
Unpaid Principal Balance	1,038
Related Allowance for Loan Losses
Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	12,820
Unpaid Principal Balance	12,820
Related Allowance for Loan Losses	$ 500

Loans by Type (Summary of Allowance for Loan Losses) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Participating Mortgage Loans [Line Items]
Beginning Balance	$ 10,556	$ 10,225
Charge-Offs
Recoveries	17	34
Provision	725	250
Ending Balance	11,298	10,509
Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Beginning Balance	4,874	4,179
Charge-Offs
Recoveries	16	34
Provision	211	672
Ending Balance	5,101	4,885
Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Beginning Balance	1,528	1,417
Charge-Offs
Recoveries
Provision	(34)	(161)
Ending Balance	1,494	1,256
Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Beginning Balance	191	89
Charge-Offs
Recoveries
Provision	(2)	91
Ending Balance	189	180
Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Beginning Balance	3,842	3,961
Charge-Offs
Recoveries	1
Provision	510	32
Ending Balance	4,353	3,993
Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Beginning Balance	121	155
Charge-Offs
Recoveries
Provision	40	(38)
Ending Balance	$ 161	117
Other Financing Receivable [Member]
Participating Mortgage Loans [Line Items]
Beginning Balance		424
Charge-Offs
Recoveries
Provision		(346)
Ending Balance		$ 78

Commitments and Contingencies (Narrative) (Details) $ in Thousands	Sep. 30, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Unused loan commitments	$ 193,272
Standby letters of credit	10,337
Commercial letters of credit	$ 1,015

Commitments and Contingencies (Summary of Company's Contractual Cash Obligations) (Details) $ in Thousands	Sep. 30, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Time Deposits, Less than 1 Year	$ 45,574
Time Deposits, 1 to 3 Years	19,438
Time Deposits, 3 to 5 Years	74
Time Deposits, over 5 Years
Time Deposits, Total	$ 65,086

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity Incentive Plan, shares authorized	1,500,000		1,500,000
Stock-based compensation expense	$ 800	$ 869	$ 2,277	$ 2,286
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 1,674		$ 1,674
Total unrecognized compensation expense, weighted average period			8 months 9 days
Vesting period			3 years
Granted, Shares			33,568
Performance-based restricted shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Granted, Shares			32,910
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%
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%
Performance-based restricted shares [Member] \| June 2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Shares			34,222
Percentage of target opportunity for awards to vest			117.30%
Expiry period			3 years
Performance-based restricted shares [Member] \| June 2020 [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target opportunity for awards to vest			0.00%
Performance-based restricted shares [Member] \| June 2020 [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target opportunity for awards to vest			150.00%
SARs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Shares	0

Stock-Based Compensation (Summary of Restricted Stock Activity) (Details) - Restricted Stock [Member]	9 Months Ended
	Sep. 30, 2020 $ / shares shares
Shares
Beginning balance \| shares	123,272
Granted \| shares	33,568
Vested \| shares	(20,369)
Forfeited \| shares	(4,962)
Ending balance \| shares	131,509
Fair Value
Beginning balance \| $ / shares	$ 47.24
Granted \| $ / shares	47.83
Vested \| $ / shares	49.32
Forfeited \| $ / shares	50.08
Ending balance \| $ / shares	$ 46.96

Stock-Based Compensation (Summary of PBRS Activity) (Details) - Performance-Based Restricted Stock [Member]	9 Months Ended
	Sep. 30, 2020 $ / shares shares
Shares
Beginning balance \| shares	102,116
Granted \| shares	32,910
Vested \| shares	(29,175)
Forfeited \| shares	(7,441)
Ending balance \| shares	98,410
Fair Value
Beginning balance \| $ / shares	$ 49.13
Granted \| $ / shares	54.02
Vested \| $ / shares	49.33
Forfeited \| $ / shares	50.08
Ending balance \| $ / shares	$ 50.64

Stock-Based Compensation (Summary of Company's SARs Activity) (Details) - SARs [Member] $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2020 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance \| shares	155,292
Exercised \| shares	(10,293)
Exercisable \| shares	144,999
Beginning balance, Weighted-Average Exercise Price \| $ / shares	$ 32.58
Exercised, Weighted-Average Exercise Price \| $ / shares	26.72
Exercisable, Weighted-Average Exercise Price \| $ / shares	$ 32.99
Beginning balance, Average Remaining Contractual Term Years	2 years 11 months 1 day
Exercisable, Average Remaining Contractual Term Years	2 years 2 months 12 days
Beginning balance, Aggregate Intrinsic Value \| $	$ 3,908
Exercisable, Aggregate Intrinsic Value \| $	$ 1,247

Defined Pension Plans (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Pension period			30 years
Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension costs	$ 1,103	$ 1,178	$ 3,159	$ 3,543
Unfunded Supplemental Executive Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension costs	$ 145	$ 195	$ 435	$ 586

Defined Pension Plans (Schedule of Net Periodic Pension Costs) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	$ 4,329	$ 3,555
Interest cost on projected benefit obligations	3,908	4,103
Expected return on plan assets	(6,049)	(4,753)
Net amortization	1,946	1,559
Net periodic pension cost	4,134	4,464
Unfunded Supplemental Executive Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	121	97
Interest cost on projected benefit obligations	347	408
Net amortization	112	276
Net periodic pension cost	$ 580	$ 781

Income Taxes (Details)	3 Months Ended		9 Months Ended
Income Taxes (Details)	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	18.20%	17.90%	17.90%	18.00%
Statutory federal tax rate	21.00%	21.00%	21.00%	21.00%

Investment in Securities (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Number of securities that had an unrealized loss	2		2		9
Number of securities that had an unrealized loss, greater than 12 months					7
Percentage of total securities	1.00%		1.00%		3.00%
Proceeds from sales of securities available-for-sale	$ 0	$ 0	$ 19,629	$ 4,648
Gross realized gains			$ 1,069	$ 19

Investment in Securities (Schedule of Investment Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Marketable Securities [Line Items]
Fair Value	$ 365,165	$ 422,665
Gross Unrealized Gains	20,226	14,234
Gross Unrealized Losses	22	169
Amortized Cost	344,961	408,600
State and Political Subdivisions [Member]
Marketable Securities [Line Items]
Fair Value	304,894	324,447
Gross Unrealized Gains	19,249	13,727
Gross Unrealized Losses	22
Amortized Cost	285,667	310,720
U.S. government agencies [Member]
Marketable Securities [Line Items]
Fair Value	60,271	97,718
Gross Unrealized Gains	977	507
Gross Unrealized Losses		169
Amortized Cost	$ 59,294	97,380
Certificates of Deposit [Member]
Marketable Securities [Line Items]
Fair Value		500
Gross Unrealized Gains
Gross Unrealized Losses
Amortized Cost		$ 500

Investment in Securities (Schedule of the Fair Values of Securities with Unrealized Losses) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Marketable Securities [Line Items]
Estimated fair value, less than 12 months	$ 1,793	$ 3,801
Estimated fair value, 12 months or more		17,593
Estimated fair value, total	1,793	21,394
Unrealized losses, less than 12 months	22	12
Unrealized losses, 12 months or more		157
Unrealized losses, total	22	169
U.S. government agencies [Member]
Marketable Securities [Line Items]
Estimated fair value, less than 12 months	1,793	3,801
Estimated fair value, 12 months or more		17,593
Estimated fair value, total	1,793	21,394
Unrealized losses, less than 12 months	22	12
Unrealized losses, 12 months or more		157
Unrealized losses, total	$ 22	$ 169

Investment in Securities (Schedule of Amortized Cost and Fair Value of Investment Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Amortized Cost, Due in 1 year or less	$ 49,435
Amortized Cost, Due after 1 year through 5 years	93,433
Amortized Cost, Due after 5 years through 10 years	172,368
Amortized Cost, Due after 10 years	29,725
Amortized Cost, Total	344,961
Fair Value, Due in 1 year or less	49,876
Fair Value, Due after 1 year through 5 years	98,084
Fair Value, Due after 5 years through 10 years	186,537
Fair Value, Due after 10 years	30,668
Fair Value, Total	$ 365,165	$ 422,665

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Cash and cash equivalents, Carrying Amount	$ 439,451	$ 203,954	$ 222,738	$ 230,933
Investment securities, Carrying Amount	365,165	422,665
Loans, net, Carrying Amount	933,259	762,082
Accrued interest receivable, Carrying Amount	6,300	6,706
Assets, Carrying Amount	1,744,175	1,395,407
Cash and cash equivalents, Fair Value	439,451	203,954
Investment securities, Fair Value	365,165	422,665
Loans, net, Fair Value	931,172	776,653
Accrued interest receivable, Fair Value	6,300	6,706
Assets, Fair Value	1,742,088	1,409,978
Deposits, Carrying Amount	911,185	757,136
Accounts and drafts payable, Carrying Amount	771,607	684,295
Accrued interest payable, Carrying Amount	125	103
Liabilities, Carrying Amount	1,682,917	1,441,534
Deposits, Fair Value	911,185	757,790
Accounts and drafts payable, Fair Value	771,607	684,295
Accrued interest payable, Fair Value	125	103
Liabilities, Fair Value	$ 1,682,917	$ 1,442,188

Revenue from Contracts with Customers (Schedule of Revenue from Contracts with Customers) (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Fee revenue and other income:

In-scope of FASB ASC 606 - Invoice processing fees

$ 18,650

$ 20,408

$ 55,697

$ 61,397

In-scope of FASB ASC 606 - Invoice payment fees

5,726

7,333

16,843

19,653

Information services payment and processing revenue

24,376

27,741

72,540

81,050

Bank service fees

441

307

1,249

984

Fee revenue (in-scope of FASB ASC 606)

24,817

28,048

73,789

82,034

Other income (out-of-scope of FASB ASC 606)

115

214

1,412

613

Total fee revenue and other income

24,932

28,262

75,201

82,647

Net interest income after provision for loan losses (out-of-scope of FASB ASC 606)

^[1]

10,814

12,274

32,623

35,653

Total net revenue

$ 35,746

$ 40,536

$ 107,824

$ 118,300

[1]	The Company earns interest income from the balances generated during the invoice processing and payment cycle and on deposit accounts, which is an integral component of the Company’s revenue, but is out-of-scope of FASB ASC 606.

Leases (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
Leases (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Lease liabilities	$ 6,553	$ 6,553	$ 7,019
Right-of-use assets	5,887	5,887	$ 6,241
Short-term lease cost	19	76
Operating lease cost	$ 420	$ 1,257
Weighted average remaining lease term	6 years 4 months 24 days	6 years 4 months 24 days
Weighted average discount rate	5.50%	5.50%

Leases (Schedule of operating lease liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019
Lease payments due
Less than 1 year	$ 1,819
1-2 years	1,683
2-3 years	1,062
3-4 years	502
4-5 years	512
Over 5 years	2,150
Total undiscounted cash flows	7,728
Discount on cash flows	1,175
Total lease liability	$ 6,553	$ 7,019