0000708781-22-000020 | 10-Q | XBRL Viewer | Cass Information Systems INC

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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2022	Oct. 22, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
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
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,661,353
Entity Central Index Key	0000708781
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and due from banks	$ 14,799	$ 12,301
Short-term investments	332,195	502,627
Cash and cash equivalents	346,994	514,928
Securities available-for-sale, at fair value	763,789	673,453
Loans	1,037,101	960,567
Less: Allowance for credit losses	13,049	12,041
Loans, net	1,024,052	948,526
Payments in advance of funding	269,221	291,427
Premises and equipment, net	19,375	18,113
Investment in bank-owned life insurance	47,714	43,176
Goodwill	17,309	14,262
Other intangible assets, net	4,321	2,564
Other assets	118,040	48,452
Total assets	2,610,815	2,554,901
Deposits:
Noninterest-bearing	581,731	582,642
Interest-bearing	647,990	638,861
Total deposits	1,229,721	1,221,503
Accounts and drafts payable	1,146,334	1,050,396
Other liabilities	43,025	37,204
Total liabilities	2,419,080	2,309,103
Shareholders’ Equity:
Preferred stock, par value $.50 per share; 2,000,000 shares authorized and no shares issued	0	0
Common Stock, Value, Outstanding	7,753	7,753
Additional paid-in capital	205,624	204,276
Retained earnings	126,361	112,220
Common shares in treasury, at cost (1,845,384 shares at September 30, 2022 and 1,771,477 shares at December 31, 2021)	(81,624)	(78,904)
Accumulated other comprehensive (loss) income	(66,379)	453
Total shareholders’ equity	191,735	245,798
Total liabilities and shareholders’ equity	$ 2,610,815	$ 2,554,901

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par or stated value per share (in dollars per share)	$ 0.50	$ 0.50
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par or stated value per share (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares, issued (in shares)	15,505,772	15,505,772
Common stock, shares, outstanding (in shares)	13,660,388	13,734,295
Treasury stock, shares (in shares)	1,845,384	1,771,477

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fee Revenue and Other Income:
Fee revenues	$ 30,505	$ 27,408	$ 90,732	$ 79,995
Other	1,568	492	3,275	1,735
Total fee revenue and other income	31,784	27,577	92,865	80,739
Interest Income:
Interest and fees on loans	10,006	8,987	27,890	26,270
Interest and dividends on securities:
Taxable	2,947	731	6,679	1,387
Exempt from federal income taxes	1,551	1,760	4,867	5,331
Interest on federal funds sold and other short-term investments	2,249	241	3,423	515
Total interest income	16,753	11,719	42,859	33,503
Interest Expense:
Interest on deposits	782	287	1,344	915
Total interest expense	782	287	1,344	915
Net interest income	15,971	11,432	41,515	32,588
Provision for (release of) credit losses	550	340	850	(870)
Net interest income after provision for (release of) credit losses	15,421	11,092	40,665	33,458
Total net revenue	47,205	38,669	133,530	114,197
Operating Expense:
Personnel	26,999	23,283	77,750	68,689
Occupancy	970	953	2,801	2,859
Equipment	1,633	1,700	5,004	5,028
Amortization of intangible assets	195	215	485	644
Other operating expense	6,524	4,539	15,748	11,798
Total operating expense	36,321	30,690	101,788	89,018
Income before income tax expense	10,884	7,979	31,742	25,179
Income tax expense	2,085	1,174	6,123	4,277
Net income	$ 8,799	$ 6,805	$ 25,619	$ 20,902
Basic earnings per share (in dollars per share)	$ 0.65	$ 0.48	$ 1.89	$ 1.47
Diluted earnings per share (in dollars per share)	$ 0.64	$ 0.48	$ 1.86	$ 1.45
Processing fees
Fee Revenue and Other Income:
Fee revenues	$ 18,964	$ 18,461	$ 57,184	$ 55,882
Financial fees
Fee Revenue and Other Income:
Fee revenues	$ 11,252	$ 8,624	$ 32,406	$ 23,122

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Comprehensive Income
Net income	$ 8,799	$ 6,805	$ 25,619	$ 20,902
Other comprehensive (loss) income:
Net unrealized loss on securities available-for-sale	(26,127)	(4,438)	(87,159)	(7,086)
Tax effect	6,218	1,057	20,744	1,687
Reclassification adjustments for losses (gains) included in net income	(13)	1	(15)	(44)
Tax effect	3	0	3	10
Foreign currency translation adjustments	(195)	(168)	(405)	(145)
Total comprehensive (loss) income	$ (11,315)	$ 3,257	$ (41,213)	$ 15,324

- 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 - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash Flows From Operating Activities:
Net income	$ 25,619	$ 20,902
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8,311	9,340
Gains on sales of securities	(15)	(44)
Stock-based compensation expense	4,479	2,585
Provision for (release of) credit losses	850	(870)
Decrease in deferred income tax asset	0	22
Increase in current income tax liability	641	79
Decrease in pension liability	(1,877)	(1,252)
Increase in accounts receivable	(2,540)	(628)
Other operating activities, net	5,331	546
Net cash provided by operating activities	40,799	30,680
Cash Flows From Investing Activities:
Proceeds from sales of securities available-for-sale	3,838	43,190
Proceeds from maturities of securities available-for-sale	45,740	83,265
Purchase of securities available-for-sale	(231,891)	(322,336)
Net (increase) decrease in loans	(76,521)	19,229
Purchase of bank-owned life insurance	(4,538)	(24,868)
Asset acquisition of Touchpoint	(4,425)	0
Decrease (increase) in payments in advance of funding	22,206	(71,816)
Purchases of premises and equipment, net	(4,270)	(2,697)
Net cash used in investing activities	(249,861)	(276,033)
Net decrease in noninterest-bearing demand deposits	(911)	(26,184)
Cash Flows From Financing Activities:
Net decrease in noninterest-bearing demand deposits	(911)	(26,184)
Net increase in interest-bearing demand and savings deposits	20,672	67,930
Net decrease in time deposits	(11,543)	(5,285)
Net change in accounts and drafts payable and other customer receivables	50,239	70,099
Cash dividends paid	(11,478)	(11,576)
Purchase of common shares for treasury	(5,299)	(18,975)
Other financing activities, net	(552)	(875)
Net cash provided by financing activities	41,128	75,134
Net decrease in cash and cash equivalents	(167,934)	(170,219)
Cash and cash equivalents at beginning of period	514,928	670,528
Cash and cash equivalents at end of period	346,994	500,309
Supplemental information:
Cash paid for interest	1,314	885
Cash paid for income taxes	$ 5,531	$ 4,176

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2020	$ 261,160	$ 7,753	$ 204,875	$ 99,062	$ (50,515)	$ (15)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	20,902			20,902
Cash dividends	(11,576)			(11,576)
Issuance of common shares pursuant to stock-based compensation plan, net	(752)		(2,932)		2,180
Exercise of SARs	(123)		(415)		292
Stock-based compensation expense	2,585		2,585
Purchase of common shares	(18,975)				(18,975)
Other comprehensive income (loss)	(5,578)					(5,578)
Ending balance at Sep. 30, 2021	247,643	7,753	204,113	108,388	(67,018)	(5,593)
Beginning balance at Jun. 30, 2021	260,767	7,753	203,098	105,398	(53,437)	(2,045)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,805			6,805
Cash dividends	(3,815)			(3,815)
Issuance of common shares pursuant to stock-based compensation plan, net	83		(51)		134
Stock-based compensation expense	1,066		1,066
Purchase of common shares	(13,715)				(13,715)
Other comprehensive income (loss)	(3,548)					(3,548)
Ending balance at Sep. 30, 2021	247,643	7,753	204,113	108,388	(67,018)	(5,593)
Beginning balance at Dec. 31, 2021	245,798	7,753	204,276	112,220	(78,904)	453
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	25,619			25,619
Cash dividends	(11,478)			(11,478)
Issuance of common shares pursuant to stock-based compensation plan, net	(467)		(2,803)		2,336
Exercise of SARs	(85)		(328)		243
Stock-based compensation expense	4,479		4,479
Purchase of common shares	(5,299)				(5,299)
Other comprehensive income (loss)	(66,832)					(66,832)
Ending balance at Sep. 30, 2022	191,735	7,753	205,624	126,361	(81,624)	(66,379)
Beginning balance at Jun. 30, 2022	205,614	7,753	204,482	121,386	(81,742)	(46,265)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	8,799			8,799
Cash dividends	(3,824)			(3,824)
Issuance of common shares pursuant to stock-based compensation plan, net	(47)		(165)		118
Stock-based compensation expense	1,307		1,307
Other comprehensive income (loss)	(20,114)					(20,114)
Ending balance at Sep. 30, 2022	$ 191,735	$ 7,753	$ 205,624	$ 126,361	$ (81,624)	$ (66,379)

- 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).

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+ 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.

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+ Details

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.28	$ 0.27	$ 0.84	$ 0.81
Issuance of common shares pursuant to stock-based compensation plan, net (in shares)	3,487	4,412	80,396	83,506
Purchase of common shares (in shares)		314,672	130,374	434,938

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	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 notes 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. Such reclassifications have no effect on previously reported net income or shareholders’ equity. 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, 2021.

Intangible Assets

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

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, 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.

In June 2022, the Company acquired the assets of mobile church management software developer Touchpoint, a division of the Pursuant Group, Inc., and recorded intangible assets of $5,289,000. Those intangible assets were valued at $3,046,000 for goodwill, $1,692,000 for the customer list, $368,000 for software, and $183,000 for the trade name. The goodwill is deductible for tax purposes over 15 years, starting in 2022. The intangible assets and results of Touchpoint are included in the Information Services operating segment.

The purchase price of the acquisition consisted of a cash payment of $4,900,000 and potential contingent consideration in the form of an earn out up to $2,500,000. The Company valued the contingent earn out component at $389,000. The fair value of the contingent consideration was estimated on the acquisition date as the present value of the expected future contingent payments which were determined using a Monte Carlo simulation. The contingent consideration is based upon four years of earnings before interest, taxes, depreciation and amortization (EBITDA) subsequent to the acquisition date. Any changes in the estimated fair value of the contingent earn out consideration, up to the contracted amount, will be reflected in the results of operations in future periods as they are identified.

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


	September 30, 2022				December 31, 2021
(In thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Assets eligible for amortization:
Customer lists	$	6,470	$	(4,489)	$	4,778	$	(4,341)
Patents	72		(31)		72		(28)
Software	3,212		(1,401)		2,844		(1,104)
Trade name	373		(35)		190		(22)
Other	500		(350)		500		(325)
Unamortized intangible assets:
Goodwill	17,309		—		14,262		—
Total intangible assets	$	27,936	$	(6,306)	$	22,646	$	(5,820)

The customer lists are amortized over 7 to 10 years; the patents over 18 years; software over 3 to 7 years, the trade name over 10 to 20 years and other intangible assets over 15 years. Amortization of intangible assets amounted to $195,000 and $215,000 for the three month periods ended September 30, 2022 and 2021, respectively. Amortization of intangible assets amounted to $485,000 and $644,000 for the nine-month periods ended September 30, 2022 and 2021, respectively.

Estimated annual amortization of intangibles is $680,000 in 2022, $780,000 in 2023, $738,000 in 2024, $730,000 in 2025, and $582,000 in 2026.

Earnings Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

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:


(In thousands except share and per share data)	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Basic
Net income	$	8,799	$	6,805	$	25,619	$	20,902
Weighted-average common shares outstanding	13,542,231		14,040,089		13,554,169		14,203,369
Basic earnings per share	$	0.65	$	0.48	$	1.89	$	1.47

Diluted
Net income	$	8,799	$	6,805	$	25,619	$	20,902
Weighted-average common shares outstanding	13,542,231		14,040,089		13,554,169		14,203,369
Effect of dilutive restricted stock and stock appreciation rights	262,106		237,080		252,496		239,016
Weighted-average common shares outstanding assuming dilution	13,804,337		14,277,169		13,806,665		14,442,385
Diluted earnings per share	$	0.64	$	0.48	$	1.86	$	1.45

Stock Repurchases	9 Months Ended
Stock Repurchases	Sep. 30, 2022
Equity [Abstract]
Stock Repurchases	Stock Repurchases The Company maintains a treasury stock buyback program pursuant to which, in October 2021, the Board of Directors authorized the repurchase of up to 750,000 shares of the Company’s common stock with no expiration date. As of September 30, 2022, 340,707 shares remained available for repurchase under the program. The Company repurchased 0 and 314,672 shares during the three-month periods ended September 30, 2022 and 2021, and 130,374 and 434,938 shares during the nine-month periods ended September 30, 2022 and 2021, respectively. Repurchases may be made in the open market or through negotiated transactions from time to time depending on market conditions.

Industry Segment Information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

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 as well as church management and on-line generosity services to faith-based ministries. The Banking Services segment provides banking services primarily to privately held businesses, restaurant franchises, and faith-based ministries and supports 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, 2021. Management evaluates segment performance based on tax-equivalized (as defined in the footnote to the chart on the following table) pre-tax income after allocations for corporate expenses. Transactions between segments are accounted for at what management believes to be fair value.

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

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

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

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

Any difference between total segment interest income and overall total Company interest income is included in Corporate, Eliminations, and Other.

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, 2022:
Fee income	$	30,418	$	811	$	555	$	31,784
Interest income*	7,158		8,733		1,273		17,164
Interest expense	—		782		—		782
Intersegment income (expense)	—		1,124		(1,124)		—
Tax-equivalized pre-tax income*	5,605		4,126		1,565		11,296
Goodwill	17,173		136		—		17,309
Other intangible assets, net	4,321		—		—		4,321
Total assets	1,196,399		1,598,519		(184,103)		2,610,815
Average funding sources	1,139,568		949,454		—		2,089,022
Three Months Ended September 30, 2021:
Fee income	$	26,174	$	1,065	$	338	$	27,577
Interest income*	7,108		5,440		(361)		12,187
Interest expense	—		287		—		287
Intersegment income (expense)	—		859		(859)		—
Tax-equivalized pre-tax income*	6,509		2,130		(193)		8,446
Goodwill	14,126		136		—		14,262
Other intangible assets, net	2,779		—		—		2,779
Total assets	1,018,710		1,279,452		(5,176)		2,292,986
Average funding sources	974,091		875,997		—		1,850,088
Nine Months Ended September 30, 2022:
Fee income	$	89,329	$	1,847	$	1,689	$	92,865
Interest income*	20,175		22,478		1,500		44,153
Interest expense	—		1,344		—		1,344
Intersegment income (expense)	—		3,549		(3,549)		—
Tax-equivalized pre-tax income*	20,259		10,418		2,359		33,036
Goodwill	17,173		136		—		17,309
Other intangible assets, net	4,321		—		—		4,321
Total assets	1,196,399		1,598,519		(184,103)		2,610,815
Average funding sources	1,082,449		963,588		—		2,046,037
Nine Months Ended September 30, 2021:
Fee income	$	77,863	$	1,701	$	1,175	$	80,739
Interest income*	18,501		17,754		(1,335)		34,920
Interest expense	—		915		—		915
Intersegment income (expense)	—		2,170		(2,170)		—
Tax-equivalized pre-tax income*	18,477		8,773		(654)		26,596
Goodwill	14,126		136		—		14,262
Other intangible assets, net	2,779		—		—		2,779
Total assets	1,018,710		1,279,452		(5,176)		2,292,986
Average funding sources	906,474		862,142		—		1,768,616

* Presented on a tax-equivalent basis assuming a tax rate of 21% for both 2022 and 2021. The tax-equivalent adjustment was approximately $412,000 and $468,000 for the third quarter of 2022 and 2021, respectively and $1,294,000 and $1,417,000 for the nine months ended September 30, 2022 and 2021, 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.

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+ Details

Loans by Type

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

Loans by Type

A summary of loans is as follows:


(In thousands)	September 30, 2022		December 31, 2021
Commercial and industrial	$	539,272	$	450,336
Real estate:
Commercial:
Mortgage	98,088		108,759
Construction	26,284		24,797
Faith-based:
Mortgage	365,584		355,582
Construction	7,853		14,664
Paycheck Protection Program (“PPP”)	—		6,299
Other	20		130
Total loans	$	1,037,101	$	960,567

The following table presents the aging of loans past due by category at September 30, 2022 and December 31, 2021:


	Performing						Nonperforming
(In thousands)	Current		30-59 Days		60-89 Days		90 Days and Over		Non- accrual		Total Loans
September 30, 2022
Commercial and industrial	$	539,272	$	—	$	—	$	—	$	—	$	539,272
Real estate
Commercial:
Mortgage	98,088		—		—		—		—		98,088
Construction	26,284		—		—		—		—		26,284
Faith-based:
Mortgage	365,584		—		—		—		—		365,584
Construction	7,853		—		—		—		—		7,853
PPP	—		—		—		—		—		—
Other	20		—		—		—		—		20
Total	$	1,037,101	$	—	$	—	$	—	$	—	$	1,037,101
December 31, 2021
Commercial and industrial	$	450,336	$	—	$	—	$	—	$	—	$	450,336
Real estate
Commercial:
Mortgage	108,759		—		—		—		—		108,759
Construction	24,797		—		—		—		—		24,797
Faith-based:
Mortgage	355,582		—		—		—		—		355,582
Construction	14,664		—		—		—		—		14,664
PPP	6,299		—		—		—		—		6,299
Other	130		—		—		—		—		130
Total	$	960,567	$	—	$	—	$	—	$	—	$	960,567

The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of September 30, 2022 and December 31, 2021:


(In thousands)	Loans Subject to Normal Monitoring1		Performing Loans Subject to Special Monitoring2		Nonperforming Loans Subject to Special Monitoring2		Total Loans
September 30, 2022
Commercial and industrial	$	536,066	$	3,206	$	—	$	539,272
Real estate
Commercial:
Mortgage	97,558		530		—		98,088
Construction	26,284		—		—		26,284
Faith-based:
Mortgage	364,627		957		—		365,584
Construction	7,853		—		—		7,853

Other	20		—		—		20
Total	$	1,032,408	$	4,693	$	—	$	1,037,101
December 31, 2021
Commercial and industrial	$	440,607	$	9,729	$	—	$	450,336
Real estate
Commercial:
Mortgage	108,759		—		—		108,759
Construction	24,797		—		—		24,797
Faith-based:
Mortgage	352,717		2,865		—		355,582
Construction	14,664		—		—		14,664
PPP	6,299		—		—		6,299
Other	130		—		—		130
Total	$	947,973	$	12,594	$	—	$	960,567


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.

The Company had no loans evaluated for expected credit losses on an individual basis as of September 30, 2022 or December 31, 2021. There were no foreclosed loans recorded as other real estate owned as of September 30, 2022 or December 31, 2021. There were no loans considered troubled debt restructurings as of September 30, 2022 or December 31, 2021.

A summary of the activity in allowance for credit losses (“ACL”) by category for the periods ended September 30, 2022 and December 31, 2021 is as follows:


(In thousands)	C&I		CRE		Faith-based CRE		Construction		Total
Balance at December 31, 2020	$	4,635	$	1,175	$	5,717	$	417	$	11,944
Provision for (release of) credit losses	387		(144)		(48)		(125)		70
Recoveries	12		—		15		—		27
Balance at December 31, 2021	$	5,034	$	1,031	$	5,684	$	292	$	12,041

Provision for (release of) credit losses	919		(129)		259		(53)		996
Recoveries	12		—		—		—		12
Balance at September 30, 2022	$	5,965	$	902	$	5,943	$	239	$	13,049

The provision for credit losses during the period ended September 30, 2022 was primarily driven by growth of the loan portfolio.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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. An allowance for unfunded commitments of $222,000 and $367,000 had been recorded at September 30, 2022 and December 31, 2021, respectively. 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, 2022, the balances of unfunded commitments, standby and commercial letters of credit were $207,883,000, $13,450,000, and $1,633,000, 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.

Stock-Based Compensation

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

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, 2022, 62,375 restricted shares, 57,542 performance-based restricted shares, and no SARs were granted under the Omnibus Plan. Stock-based compensation expense for the three months ended September 30, 2022 and 2021 was $1,307,000 and $1,066,000, respectively, and $4,479,000 and $2,585,000 for the nine months ended September 30, 2022 and 2021, respectively.

Restricted Stock

Restricted shares granted to Company employees are amortized to expense over a three-year cliff vesting period, or until vesting occurs upon retirement. 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, 2022, the total unrecognized compensation expense related to non-vested restricted shares was $2,239,000, and the related weighted-average period over which it is expected to be recognized is approximately 0.74 years.

Following is a summary of the activity of the Company's restricted stock for the nine months ended September 30, 2022, with total shares and weighted-average fair value:


	Nine Months Ended September 30, 2022
	Shares	Fair Value
Balance at December 31, 2021	165,553	$	44.81
Granted	62,375	39.17
Vested	(23,316)	48.85
Forfeitures	(823)	43.89
Balance at September 30, 2022	203,789	$	42.63

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.

Following is a summary of the activity of the PBRS for the nine months ended September 30, 2022, based on 100% of target value:


	Nine Months Ended September 30, 2022
	Shares	Fair Value
Balance at December 31, 2021	116,543	$	46.79
Granted	57,542	39.58
Vested	(34,066)	49.05
Forfeitures	(1,234)	43.89
Balance at September 30, 2022	138,785	$	43.19

The PBRS that vested during the nine months ended September 30, 2022 were based on the Company's achievement of 52.9% of target financial goals, resulting in the issuance of 18,021 shares of common stock. The outstanding PBRS at September 30, 2022 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 nine months ended September 30, 2022. Following is a summary of the activity of the Company’s SARs program for the nine months ended September 30, 2022:


	Shares	Weighted- Average Exercise Price		Average Remaining Contractual Term Years	Aggregate Intrinsic Value (In thousands)
Balance at December 31, 2021	117,089	$	34.91	1.21	$	741
Exercised	(23,976)	27.78		—	—

Exercisable at September 30, 2022	93,113	$	36.75	0.65	$	174

There were no non-vested SARs at September 30, 2022.

Defined Pension Plans

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Defined Pension Plans

The Company has a noncontributory defined-benefit pension plan (the “Plan”), which covers eligible employees. Effective December 31, 2016, the Plan was closed to all new participants. Additionally, the Plan’s benefits were frozen for all remaining participants as of February 28, 2021. As such, subsequent to February 28, 2021, there is no service cost associated with the Plan. 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 2022		Actual 2021
Service cost – benefits earned during the year	$	—	$	1,002
Interest cost on projected benefit obligations	3,290		3,076
Expected return on plan assets	(5,860)		(6,310)
Net amortization	—		393
Net periodic pension benefit	$	(2,570)	$	(1,839)

The Company recorded a net periodic benefit of $616,000 and $1,847,000 for the three and nine-month periods ended September 30, 2022, respectively, and $678,000 and $1,096,000 for the three and nine-month period ended September 30, 2021, respectively. The net periodic pension benefit increased during the nine-month period ended September 30, 2022 primarily due to the Plan being frozen as of February 28, 2021. The Company made no contributions to the Plan during the nine-month period ended September 30, 2022 and is evaluating the amount of contributions, if any, for the remainder of 2022.

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 2021 and an estimate for 2022:


(In thousands)	Estimated 2022		Actual 2021
Service cost – benefits earned during the year	$	—	$	147
Interest cost on projected benefit obligation	318		291
Net amortization	108		203
Net periodic pension cost	$	426	$	641

Supplemental executive retirement plan costs recorded to expense were $107,000 and $320,000 for the three and nine-month periods ended September 30, 2022, respectively, and $160,000 and $481,000 for the three and nine-month periods ended September 30, 2021, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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+ Details

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate was 19.2% and 19.3% for the three and nine-month periods ended September 30, 2022, respectively, and 14.7% and 17.0% for the three and nine-month periods ended September 30, 2021, respectively. The effective tax rate for all periods differs from the statutory rate of 21% primarily due to the tax-exempt interest received from municipal bonds and bank-owned life insurance, among other factors. The increase in the effective tax rate for the nine-month period ended September 30, 2022 as compared to the same period of 2021 is primarily a result of taxable income being higher in the current period, which reduces the relative impact of the tax-exempt income.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Investment in Securities

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Investments in Securities

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, 2022
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State and political subdivisions	$	326,506	$	18	$	28,078	$	298,446
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	210,111		—		31,978		178,133
Corporate bonds	96,405		—		12,614		83,791
U.S. treasury bonds	158,623		—		3,504		155,119
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	50,136		—		1,836		48,300
Total	$	841,781	$	18	$	78,010	$	763,789


	December 31, 2021
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State and political subdivisions	$	359,187	$	12,931	$	990	$	371,128
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	170,711		135		2,200		168,646
Corporate bonds	84,538		72		272		84,338
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	49,835		—		494		49,341
Total	$	664,271	$	13,138	$	3,956	$	673,453

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


	September 30, 2022
	Less than 12 months				12 months or more				Total
(In thousands)	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
State and political subdivisions	$	246,743	$	19,158	$	30,025	$	8,920	$	276,768	$	28,078
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	119,478		18,240		58,655		13,738		178,133		31,978
Corporate bonds	72,280		11,075		6,511		1,539		78,791		12,614
U.S. treasury bonds	155,119		3,504		—		—		155,119		3,504
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	48,300		1,836		—		—		48,300		1,836
Total	$	641,920	$	53,813	$	95,191	$	24,197	$	737,111	$	78,010


	December 31, 2021
	Less than 12 months				12 months or more				Total
(In thousands)	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
State and political subdivisions	$	60,083	$	990	$	—	$	—	$	60,083	$	990
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	163,652		2,200		—		—		163,652		2,200
Corporate bonds	55,120		272		—		—		55,120		272
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	49,341		494		—		—		49,341		494
Total	$	328,196	$	3,956	$	—	$	—	$	328,196	$	3,956

There were 326 securities, or 93% (44 of which for greater than 12 months), in an unrealized loss position as of September 30, 2022. The unrealized losses at September 30, 2022 were primarily attributable to changes in market interest rates after the securities were purchased. There were 101 securities, or 28% (0 of which for greater than 12 months), in an unrealized loss position as of December 31, 2021. At September 30, 2022 and December 31, 2021, the Company had not recorded an allowance for credit losses on securities.

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, 2022
(In thousands)	Amortized Cost		Fair Value
Due in 1 year or less	$	65,238	$	64,875
Due after 1 year through 5 years	267,021		260,368
Due after 5 years through 10 years	231,748		203,575
Due after 10 years	277,774		234,971
Total	$	841,781	$	763,789

Proceeds from sales of investment securities classified as available-for-sale were $2,317,000 and $3,838,000 for the three and nine months ended September 30, 2022 and $30,074,000 and $43,190,000 for the three and nine months ended September 30, 2021, respectively. Gross realized gains were $13,000 and $15,000 for the three and nine months ended September 30, 2022. Gross realized losses were $1,000 for the three months ended September 30, 2021 while for the nine months ended September 30, 2021, there were gross realized gains of $44,000. There were no securities pledged to secure public deposits or for other purposes at September 30, 2022

Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

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


	September 30, 2022				December 31, 2021
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Balance sheet assets:
Cash and cash equivalents	$	346,994	$	346,994	$	514,928	$	514,928
Investment securities	763,789		763,789		673,453		673,453
Loans, net	1,024,052		972,338		948,526		948,701
Accrued interest receivable	7,609		7,609		6,799		6,799
Total	$	2,142,444	$	2,090,730	$	2,143,706	$	2,143,881
Balance sheet liabilities:
Deposits	$	1,229,721	$	1,229,721	$	1,221,503	$	1,221,503
Accounts and drafts payable	1,146,334		1,146,334		1,050,396		1,050,396
Accrued interest payable	46		46		16		16
Total	$	2,376,101	$	2,376,101	$	2,271,915	$	2,271,915

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 credit 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 Payable - The carrying amount approximates fair value.

- 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, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customers

Revenue from Contracts with Customers

Revenue is recognized as the obligation to the customer is satisfied. The following is detail of the Company’s revenue from contracts with clients.

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.

Financial 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.


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(In thousands)	2022		2021		2022		2021
Fee revenue and other income
In-scope of FASB ASC 606
Processing fees	$	18,964	$	18,461	$	57,184	$	55,882
Financial fees	11,252		8,624		32,406		23,122
Information services payment and processing revenue	30,216		27,085		89,590		79,004
Bank service fees	289		323		1,142		991
Fee revenue (in-scope of FASB ASC 606)	30,505		27,408		90,732		79,995
Other income (out-of-scope of FASB ASC 606)	1,279		169		2,133		744
Total fee revenue and other income	$	31,784	$	27,577	$	92,865	$	80,739

- 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
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Leases

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Leases

The Company leases certain premises under operating leases. As of September 30, 2022, the Company had lease liabilities of $9,759,000 and right-of-use assets of $9,435,000. 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 and nine months ended September 30, 2022, operating lease cost was $386,000 and $1,184,000, respectively, short-term lease cost was $51,000 and $156,000, respectively, and there was no variable lease cost. At September 30, 2022, the weighted-average remaining lease term for the operating leases was 8.4 years and the weighted-average discount rate used in the measurement of operating lease liabilities was 3.59%. 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. See the Company’s 2021 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, 2022 is as follows:


(In thousands)	September 30, 2022
Lease payments due
Less than 1 year	$	1,359
1-2 years	1,332
2-3 years	1,339
3-4 years	1,354
4-5 years	1,350
Over 5 years	4,561
Total undiscounted cash flows	11,295
Discount on cash flows	1,536
Total lease liability	$	9,759

There were no sale and leaseback transactions, leveraged leases, or lease transactions with related parties during the nine months ended September 30, 2022.

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	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, 2022. 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, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

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


	September 30, 2022				December 31, 2021
(In thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Assets eligible for amortization:
Customer lists	$	6,470	$	(4,489)	$	4,778	$	(4,341)
Patents	72		(31)		72		(28)
Software	3,212		(1,401)		2,844		(1,104)
Trade name	373		(35)		190		(22)
Other	500		(350)		500		(325)
Unamortized intangible assets:
Goodwill	17,309		—		14,262		—
Total intangible assets	$	27,936	$	(6,306)	$	22,646	$	(5,820)

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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


(In thousands except share and per share data)	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Basic
Net income	$	8,799	$	6,805	$	25,619	$	20,902
Weighted-average common shares outstanding	13,542,231		14,040,089		13,554,169		14,203,369
Basic earnings per share	$	0.65	$	0.48	$	1.89	$	1.47

Diluted
Net income	$	8,799	$	6,805	$	25,619	$	20,902
Weighted-average common shares outstanding	13,542,231		14,040,089		13,554,169		14,203,369
Effect of dilutive restricted stock and stock appreciation rights	262,106		237,080		252,496		239,016
Weighted-average common shares outstanding assuming dilution	13,804,337		14,277,169		13,806,665		14,442,385
Diluted earnings per share	$	0.64	$	0.48	$	1.86	$	1.45

Industry Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by 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, 2022:
Fee income	$	30,418	$	811	$	555	$	31,784
Interest income*	7,158		8,733		1,273		17,164
Interest expense	—		782		—		782
Intersegment income (expense)	—		1,124		(1,124)		—
Tax-equivalized pre-tax income*	5,605		4,126		1,565		11,296
Goodwill	17,173		136		—		17,309
Other intangible assets, net	4,321		—		—		4,321
Total assets	1,196,399		1,598,519		(184,103)		2,610,815
Average funding sources	1,139,568		949,454		—		2,089,022
Three Months Ended September 30, 2021:
Fee income	$	26,174	$	1,065	$	338	$	27,577
Interest income*	7,108		5,440		(361)		12,187
Interest expense	—		287		—		287
Intersegment income (expense)	—		859		(859)		—
Tax-equivalized pre-tax income*	6,509		2,130		(193)		8,446
Goodwill	14,126		136		—		14,262
Other intangible assets, net	2,779		—		—		2,779
Total assets	1,018,710		1,279,452		(5,176)		2,292,986
Average funding sources	974,091		875,997		—		1,850,088
Nine Months Ended September 30, 2022:
Fee income	$	89,329	$	1,847	$	1,689	$	92,865
Interest income*	20,175		22,478		1,500		44,153
Interest expense	—		1,344		—		1,344
Intersegment income (expense)	—		3,549		(3,549)		—
Tax-equivalized pre-tax income*	20,259		10,418		2,359		33,036
Goodwill	17,173		136		—		17,309
Other intangible assets, net	4,321		—		—		4,321
Total assets	1,196,399		1,598,519		(184,103)		2,610,815
Average funding sources	1,082,449		963,588		—		2,046,037
Nine Months Ended September 30, 2021:
Fee income	$	77,863	$	1,701	$	1,175	$	80,739
Interest income*	18,501		17,754		(1,335)		34,920
Interest expense	—		915		—		915
Intersegment income (expense)	—		2,170		(2,170)		—
Tax-equivalized pre-tax income*	18,477		8,773		(654)		26,596
Goodwill	14,126		136		—		14,262
Other intangible assets, net	2,779		—		—		2,779
Total assets	1,018,710		1,279,452		(5,176)		2,292,986
Average funding sources	906,474		862,142		—		1,768,616

Loans by Type (Tables)

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

Summary of Loan Categories

A summary of loans is as follows:


(In thousands)	September 30, 2022		December 31, 2021
Commercial and industrial	$	539,272	$	450,336
Real estate:
Commercial:
Mortgage	98,088		108,759
Construction	26,284		24,797
Faith-based:
Mortgage	365,584		355,582
Construction	7,853		14,664
Paycheck Protection Program (“PPP”)	—		6,299
Other	20		130
Total loans	$	1,037,101	$	960,567

Schedule of Debt

The following table presents the aging of loans past due by category at September 30, 2022 and December 31, 2021:


	Performing						Nonperforming
(In thousands)	Current		30-59 Days		60-89 Days		90 Days and Over		Non- accrual		Total Loans
September 30, 2022
Commercial and industrial	$	539,272	$	—	$	—	$	—	$	—	$	539,272
Real estate
Commercial:
Mortgage	98,088		—		—		—		—		98,088
Construction	26,284		—		—		—		—		26,284
Faith-based:
Mortgage	365,584		—		—		—		—		365,584
Construction	7,853		—		—		—		—		7,853
PPP	—		—		—		—		—		—
Other	20		—		—		—		—		20
Total	$	1,037,101	$	—	$	—	$	—	$	—	$	1,037,101
December 31, 2021
Commercial and industrial	$	450,336	$	—	$	—	$	—	$	—	$	450,336
Real estate
Commercial:
Mortgage	108,759		—		—		—		—		108,759
Construction	24,797		—		—		—		—		24,797
Faith-based:
Mortgage	355,582		—		—		—		—		355,582
Construction	14,664		—		—		—		—		14,664
PPP	6,299		—		—		—		—		6,299
Other	130		—		—		—		—		130
Total	$	960,567	$	—	$	—	$	—	$	—	$	960,567

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, 2022 and December 31, 2021:


(In thousands)	Loans Subject to Normal Monitoring1		Performing Loans Subject to Special Monitoring2		Nonperforming Loans Subject to Special Monitoring2		Total Loans
September 30, 2022
Commercial and industrial	$	536,066	$	3,206	$	—	$	539,272
Real estate
Commercial:
Mortgage	97,558		530		—		98,088
Construction	26,284		—		—		26,284
Faith-based:
Mortgage	364,627		957		—		365,584
Construction	7,853		—		—		7,853

Other	20		—		—		20
Total	$	1,032,408	$	4,693	$	—	$	1,037,101
December 31, 2021
Commercial and industrial	$	440,607	$	9,729	$	—	$	450,336
Real estate
Commercial:
Mortgage	108,759		—		—		108,759
Construction	24,797		—		—		24,797
Faith-based:
Mortgage	352,717		2,865		—		355,582
Construction	14,664		—		—		14,664
PPP	6,299		—		—		6,299
Other	130		—		—		130
Total	$	947,973	$	12,594	$	—	$	960,567


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.

Summary of ACL by Category

A summary of the activity in allowance for credit losses (“ACL”) by category for the periods ended September 30, 2022 and December 31, 2021 is as follows:


(In thousands)	C&I		CRE		Faith-based CRE		Construction		Total
Balance at December 31, 2020	$	4,635	$	1,175	$	5,717	$	417	$	11,944
Provision for (release of) credit losses	387		(144)		(48)		(125)		70
Recoveries	12		—		15		—		27
Balance at December 31, 2021	$	5,034	$	1,031	$	5,684	$	292	$	12,041

Provision for (release of) credit losses	919		(129)		259		(53)		996
Recoveries	12		—		—		—		12
Balance at September 30, 2022	$	5,965	$	902	$	5,943	$	239	$	13,049

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Restricted Stock Activity

Following is a summary of the activity of the Company's restricted stock for the nine months ended September 30, 2022, with total shares and weighted-average fair value:


	Nine Months Ended September 30, 2022
	Shares	Fair Value
Balance at December 31, 2021	165,553	$	44.81
Granted	62,375	39.17
Vested	(23,316)	48.85
Forfeitures	(823)	43.89
Balance at September 30, 2022	203,789	$	42.63

Schedule of Performance Shares Activity

Following is a summary of the activity of the PBRS for the nine months ended September 30, 2022, based on 100% of target value:


	Nine Months Ended September 30, 2022
	Shares	Fair Value
Balance at December 31, 2021	116,543	$	46.79
Granted	57,542	39.58
Vested	(34,066)	49.05
Forfeitures	(1,234)	43.89
Balance at September 30, 2022	138,785	$	43.19

Schedule of Stock Appreciation Right Activity

Following is a summary of the activity of the Company’s SARs program for the nine months ended September 30, 2022:


	Shares	Weighted- Average Exercise Price		Average Remaining Contractual Term Years	Aggregate Intrinsic Value (In thousands)
Balance at December 31, 2021	117,089	$	34.91	1.21	$	741
Exercised	(23,976)	27.78		—	—

Exercisable at September 30, 2022	93,113	$	36.75	0.65	$	174

Defined Pension Plans (Tables)

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Schedule of Expected Benefit Payments

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 2022		Actual 2021
Service cost – benefits earned during the year	$	—	$	1,002
Interest cost on projected benefit obligations	3,290		3,076
Expected return on plan assets	(5,860)		(6,310)
Net amortization	—		393
Net periodic pension benefit	$	(2,570)	$	(1,839)

Schedule of Net Benefit Costs

The following table represents the components of the net periodic pension costs for 2021 and an estimate for 2022:


(In thousands)	Estimated 2022		Actual 2021
Service cost – benefits earned during the year	$	—	$	147
Interest cost on projected benefit obligation	318		291
Net amortization	108		203
Net periodic pension cost	$	426	$	641

Investment in Securities (Tables)

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities

The amortized cost, gross unrealized gains, gross unrealized losses and fair value of investment securities are summarized as follows:


	September 30, 2022
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State and political subdivisions	$	326,506	$	18	$	28,078	$	298,446
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	210,111		—		31,978		178,133
Corporate bonds	96,405		—		12,614		83,791
U.S. treasury bonds	158,623		—		3,504		155,119
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	50,136		—		1,836		48,300
Total	$	841,781	$	18	$	78,010	$	763,789


	December 31, 2021
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State and political subdivisions	$	359,187	$	12,931	$	990	$	371,128
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	170,711		135		2,200		168,646
Corporate bonds	84,538		72		272		84,338
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	49,835		—		494		49,341
Total	$	664,271	$	13,138	$	3,956	$	673,453

Schedule of Unrealized Loss on Investments

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


	September 30, 2022
	Less than 12 months				12 months or more				Total
(In thousands)	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
State and political subdivisions	$	246,743	$	19,158	$	30,025	$	8,920	$	276,768	$	28,078
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	119,478		18,240		58,655		13,738		178,133		31,978
Corporate bonds	72,280		11,075		6,511		1,539		78,791		12,614
U.S. treasury bonds	155,119		3,504		—		—		155,119		3,504
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	48,300		1,836		—		—		48,300		1,836
Total	$	641,920	$	53,813	$	95,191	$	24,197	$	737,111	$	78,010


	December 31, 2021
	Less than 12 months				12 months or more				Total
(In thousands)	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
State and political subdivisions	$	60,083	$	990	$	—	$	—	$	60,083	$	990
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	163,652		2,200		—		—		163,652		2,200
Corporate bonds	55,120		272		—		—		55,120		272
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	49,341		494		—		—		49,341		494
Total	$	328,196	$	3,956	$	—	$	—	$	328,196	$	3,956

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense


	September 30, 2022
(In thousands)	Amortized Cost		Fair Value
Due in 1 year or less	$	65,238	$	64,875
Due after 1 year through 5 years	267,021		260,368
Due after 5 years through 10 years	231,748		203,575
Due after 10 years	277,774		234,971
Total	$	841,781	$	763,789

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements by Balance Sheet Grouping

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


	September 30, 2022				December 31, 2021
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Balance sheet assets:
Cash and cash equivalents	$	346,994	$	346,994	$	514,928	$	514,928
Investment securities	763,789		763,789		673,453		673,453
Loans, net	1,024,052		972,338		948,526		948,701
Accrued interest receivable	7,609		7,609		6,799		6,799
Total	$	2,142,444	$	2,090,730	$	2,143,706	$	2,143,881
Balance sheet liabilities:
Deposits	$	1,229,721	$	1,229,721	$	1,221,503	$	1,221,503
Accounts and drafts payable	1,146,334		1,146,334		1,050,396		1,050,396
Accrued interest payable	46		46		16		16
Total	$	2,376,101	$	2,376,101	$	2,271,915	$	2,271,915

Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(In thousands)	2022		2021		2022		2021
Fee revenue and other income
In-scope of FASB ASC 606
Processing fees	$	18,964	$	18,461	$	57,184	$	55,882
Financial fees	11,252		8,624		32,406		23,122
Information services payment and processing revenue	30,216		27,085		89,590		79,004
Bank service fees	289		323		1,142		991
Fee revenue (in-scope of FASB ASC 606)	30,505		27,408		90,732		79,995
Other income (out-of-scope of FASB ASC 606)	1,279		169		2,133		744
Total fee revenue and other income	$	31,784	$	27,577	$	92,865	$	80,739

Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Schedule of Operating Lease Maturity

A maturity analysis of operating lease liabilities and undiscounted cash flows as of September 30, 2022 is as follows:


(In thousands)	September 30, 2022
Lease payments due
Less than 1 year	$	1,359
1-2 years	1,332
2-3 years	1,339
3-4 years	1,354
4-5 years	1,350
Over 5 years	4,561
Total undiscounted cash flows	11,295
Discount on cash flows	1,536
Total lease liability	$	9,759

Intangible Assets - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
Intangible Assets - Narrative (Details) $ in Thousands	Jun. 30, 2022 USD ($) yr	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Finite-Lived Intangible Assets [Line Items]
Goodwill		$ 17,309	$ 14,262	$ 17,309	$ 14,262	$ 14,262
Amortization of intangible assets		195	$ 215	485	$ 644
Expected amortization, remainder of fiscal year		680		680
Amortization expense, next rolling twelve months		780		780
Amortization expense, rolling year two		738		738
Amortization expense, rolling year three		730		730
Amortization expense, rolling year four		$ 582		$ 582
Customer lists \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life				7 years
Customer lists \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life				10 years
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life				18 years
Software \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life				3 years
Software \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life				7 years
Trade name \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life				10 years
Trade name \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life				20 years
Other
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life				15 years
Touchpoint
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 5,289
Goodwill	3,046
Payments to acquire assets	4,900
Contingent consideration, earn out	$ 389
Touchpoint \| Term
Finite-Lived Intangible Assets [Line Items]
Contingent consideration, measurement input \| yr	4
Touchpoint \| Maximum
Finite-Lived Intangible Assets [Line Items]
Contingent consideration, earn out	$ 2,500
Touchpoint \| Customer lists
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets acquired	1,692
Touchpoint \| Software
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets acquired	368
Touchpoint \| Trade name
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets acquired	$ 183

Intangible Assets - Schedule of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets eligible for amortization:
Accumulated Amortization	$ (6,306)	$ (5,820)
Unamortized intangible assets:
Goodwill, gross carrying amount	17,309	14,262
Total intangible assets, net	27,936	22,646
Total intangible assets, accumulated amortization	6,306	5,820
Customer lists
Assets eligible for amortization:
Gross Carrying Amount	6,470	4,778
Accumulated Amortization	(4,489)	(4,341)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	4,489	4,341
Patents
Assets eligible for amortization:
Gross Carrying Amount	72	72
Accumulated Amortization	(31)	(28)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	31	28
Software
Assets eligible for amortization:
Gross Carrying Amount	3,212	2,844
Accumulated Amortization	(1,401)	(1,104)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	1,401	1,104
Trade name
Assets eligible for amortization:
Gross Carrying Amount	373	190
Accumulated Amortization	(35)	(22)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	35	22
Other
Assets eligible for amortization:
Gross Carrying Amount	500	500
Accumulated Amortization	(350)	(325)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	$ 350	$ 325

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Basic
Net income	$ 8,799	$ 6,805	$ 25,619	$ 20,902
Weighted-average common shares outstanding (in shares)	13,542,231	14,040,089	13,554,169	14,203,369
Basic earnings per share (in dollars per share)	$ 0.65	$ 0.48	$ 1.89	$ 1.47
Diluted
Net Income	$ 8,799	$ 6,805	$ 25,619	$ 20,902
Weighted-average common shares outstanding (in shares)	13,542,231	14,040,089	13,554,169	14,203,369
Effect of dilutive restricted stock and stock appreciation rights (in shares)	262,106	237,080	252,496	239,016
Weighted-average common shares outstanding assuming dilution (in shares)	13,804,337	14,277,169	13,806,665	14,442,385
Diluted earnings per share (in dollars per share)	$ 0.64	$ 0.48	$ 1.86	$ 1.45

- Definition

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

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- Definition

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

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+ 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	3 Months Ended		9 Months Ended
Stock Repurchases (Details) - shares	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Oct. 31, 2021
Equity [Abstract]
Number of shares authorized to be repurchased (in shares)					750,000
Remaining number of shares authorized to be repurchased (in shares)	340,707		340,707
Treasury stock, shares repurchased (in shares)	0	314,672	130,374	434,938

Industry Segment Information (Details)	3 Months Ended		9 Months Ended
Industry Segment Information (Details)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment			2
Interest Income (Expense), after Provision for Loan Loss [Abstract]
Fee income	$ 31,784,000	$ 27,577,000	$ 92,865,000	$ 80,739,000
Interest income	17,164,000	12,187,000	44,153,000	34,920,000
Interest expense	782,000	287,000	1,344,000	915,000
Intersegment income (expense)	15,971,000	11,432,000	41,515,000	32,588,000
Tax-equivalized pre-tax income	11,296,000	8,446,000	33,036,000	26,596,000
Goodwill	17,309,000	14,262,000	17,309,000	14,262,000	$ 14,262,000
Other intangible assets, net	4,321,000	2,779,000	4,321,000	2,779,000
Total assets	2,610,815,000	2,292,986,000	2,610,815,000	2,292,986,000	$ 2,554,901,000
Average funding sources	2,089,022,000	1,850,088,000	2,046,037,000	1,768,616,000
Tax equivalent adjustment	412,000	468,000	1,294,000	1,417,000
Corporate, Eliminations and Other
Interest Income (Expense), after Provision for Loan Loss [Abstract]
Fee income	555,000	338,000	1,689,000	1,175,000
Interest income	1,273,000	(361,000)	1,500,000	(1,335,000)
Interest expense	0	0	0	0
Intersegment income (expense)	(1,124,000)	(859,000)	(3,549,000)	(2,170,000)
Tax-equivalized pre-tax income	1,565,000	(193,000)	2,359,000	(654,000)
Goodwill	0	0	0	0
Other intangible assets, net	0	0	0	0
Total assets	(184,103,000)	(5,176,000)	(184,103,000)	(5,176,000)
Average funding sources	0	0	0	0
Information services payment and processing revenue \| Operating Segments
Interest Income (Expense), after Provision for Loan Loss [Abstract]
Fee income	30,418,000	26,174,000	89,329,000	77,863,000
Interest income	7,158,000	7,108,000	20,175,000	18,501,000
Interest expense	0	0	0	0
Intersegment income (expense)	0	0	0	0
Tax-equivalized pre-tax income	5,605,000	6,509,000	20,259,000	18,477,000
Goodwill	17,173,000	14,126,000	17,173,000	14,126,000
Other intangible assets, net	4,321,000	2,779,000	4,321,000	2,779,000
Total assets	1,196,399,000	1,018,710,000	1,196,399,000	1,018,710,000
Average funding sources	1,139,568,000	974,091,000	1,082,449,000	906,474,000
Banking Services \| Operating Segments
Interest Income (Expense), after Provision for Loan Loss [Abstract]
Fee income	811,000	1,065,000	1,847,000	1,701,000
Interest income	8,733,000	5,440,000	22,478,000	17,754,000
Interest expense	782,000	287,000	1,344,000	915,000
Intersegment income (expense)	1,124,000	859,000	3,549,000	2,170,000
Tax-equivalized pre-tax income	4,126,000	2,130,000	10,418,000	8,773,000
Goodwill	136,000	136,000	136,000	136,000
Other intangible assets, net	0	0	0	0
Total assets	1,598,519,000	1,279,452,000	1,598,519,000	1,279,452,000
Average funding sources	$ 949,454,000	$ 875,997,000	$ 963,588,000	$ 862,142,000

Loans by Type - Summary of Loan Categories (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Participating Mortgage Loans [Line Items]
Total loans	$ 1,037,101	$ 960,567
Commercial and industrial
Participating Mortgage Loans [Line Items]
Total loans	539,272	450,336
Commercial: \| Mortgage
Participating Mortgage Loans [Line Items]
Total loans	98,088	108,759
Commercial: \| Construction
Participating Mortgage Loans [Line Items]
Total loans	26,284	24,797
Faith-based: \| Mortgage
Participating Mortgage Loans [Line Items]
Total loans	365,584	355,582
Faith-based: \| Construction
Participating Mortgage Loans [Line Items]
Total loans	7,853	14,664
Paycheck Protection Program (“PPP”)
Participating Mortgage Loans [Line Items]
Total loans	0	6,299
Other
Participating Mortgage Loans [Line Items]
Total loans	$ 20	$ 130

Loans by Type - Narrative (Details) - loan	9 Months Ended	12 Months Ended
Loans by Type - Narrative (Details) - loan	Sep. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Number of loans individually evaluated for impairment	0	0
Number of troubled debt restructured loans	0	0

Loans by Type - Schedule of the Aging of Loans by Loan Categories (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Participating Mortgage Loans [Line Items]
Total Loans	$ 1,037,101	$ 960,567
Non- accrual	0	0
Commercial and industrial
Participating Mortgage Loans [Line Items]
Total Loans	539,272	450,336
Non- accrual	0	0
Commercial: \| Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	98,088	108,759
Non- accrual	0	0
Commercial: \| Construction
Participating Mortgage Loans [Line Items]
Total Loans	26,284	24,797
Non- accrual	0	0
Faith-based: \| Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	365,584	355,582
Non- accrual	0	0
Faith-based: \| Construction
Participating Mortgage Loans [Line Items]
Total Loans	7,853	14,664
Non- accrual	0	0
Paycheck Protection Program (“PPP”)
Participating Mortgage Loans [Line Items]
Total Loans	0	6,299
Non- accrual	0	0
Other
Participating Mortgage Loans [Line Items]
Total Loans	20	130
Non- accrual	0	0
Current
Participating Mortgage Loans [Line Items]
Total Loans	1,037,101	960,567
Current \| Commercial and industrial
Participating Mortgage Loans [Line Items]
Total Loans	539,272	450,336
Current \| Commercial: \| Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	98,088	108,759
Current \| Commercial: \| Construction
Participating Mortgage Loans [Line Items]
Total Loans	26,284	24,797
Current \| Faith-based: \| Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	365,584	355,582
Current \| Faith-based: \| Construction
Participating Mortgage Loans [Line Items]
Total Loans	7,853	14,664
Current \| Paycheck Protection Program (“PPP”)
Participating Mortgage Loans [Line Items]
Total Loans	0	6,299
Current \| Other
Participating Mortgage Loans [Line Items]
Total Loans	20	130
30-59 Days
Participating Mortgage Loans [Line Items]
Total Loans	0	0
30-59 Days \| Commercial and industrial
Participating Mortgage Loans [Line Items]
Total Loans	0	0
30-59 Days \| Commercial: \| Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	0	0
30-59 Days \| Commercial: \| Construction
Participating Mortgage Loans [Line Items]
Total Loans	0	0
30-59 Days \| Faith-based: \| Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	0	0
30-59 Days \| Faith-based: \| Construction
Participating Mortgage Loans [Line Items]
Total Loans	0	0
30-59 Days \| Paycheck Protection Program (“PPP”)
Participating Mortgage Loans [Line Items]
Total Loans	0	0
30-59 Days \| Other
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days \| Commercial and industrial
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days \| Commercial: \| Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days \| Commercial: \| Construction
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days \| Faith-based: \| Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days \| Faith-based: \| Construction
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days \| Paycheck Protection Program (“PPP”)
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days \| Other
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over \| Commercial and industrial
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over \| Commercial: \| Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over \| Commercial: \| Construction
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over \| Faith-based: \| Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over \| Faith-based: \| Construction
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over \| Paycheck Protection Program (“PPP”)
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over \| Other
Participating Mortgage Loans [Line Items]
Total Loans	$ 0	$ 0

Loans by Type - Summary of ACL by Category (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 12,041
Ending balance	13,049	$ 12,041
Loans Excluding Unfunded Commitments
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	12,041	11,944
Provision for (release of) credit losses	996	70
Recoveries	12	27
Ending balance	13,049	12,041
Loans Excluding Unfunded Commitments \| C&I
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	5,034	4,635
Provision for (release of) credit losses	919	387
Recoveries	12	12
Ending balance	5,965	5,034
Loans Excluding Unfunded Commitments \| CRE
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	1,031	1,175
Provision for (release of) credit losses	(129)	(144)
Recoveries	0	0
Ending balance	902	1,031
Loans Excluding Unfunded Commitments \| Faith-based CRE
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	5,684	5,717
Provision for (release of) credit losses	259	(48)
Recoveries	0	15
Ending balance	5,943	5,684
Loans Excluding Unfunded Commitments \| Construction
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	292	417
Provision for (release of) credit losses	(53)	(125)
Recoveries	0	0
Ending balance	$ 239	$ 292

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Allowance for unfunded commitments	$ 222	$ 367
Unused loan commitments	207,883
Financial Standby Letter of Credit
Loss Contingencies [Line Items]
Letters of credit	13,450
Stand by Letters Of Credit Member
Loss Contingencies [Line Items]
Letters of credit	$ 1,633

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,307	$ 1,066	$ 4,479	$ 2,585
Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	1,500,000		1,500,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			62,375
Unrecognized compensation expense	$ 2,239		$ 2,239
Unrecognized compensation expense, period for recognition			8 months 26 days
Nonvested awards shares outstanding (in shares)	203,789		203,789		165,553
Restricted Stock \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Restricted Stock \| Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			1 year
Restricted Stock \| Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			62,375
Performance-based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			57,542
Award vesting period			3 years
Percentage of target opportunity for awards to vest			52.90%
Shares issued in period (in shares)			18,021
Nonvested awards shares outstanding (in shares)	138,785		138,785		116,543
Performance-based Restricted Stock \| Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			57,542
Performance-based Restricted Stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target opportunity for awards to vest			0.00%
Performance-based Restricted Stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target opportunity for awards to vest			150.00%
SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested awards shares outstanding (in shares)	0		0
SARs \| Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			0

Stock-Based Compensation - Summary of Restricted Stock Activity (Details) - Restricted Stock	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares) \| shares	165,553
Granted (in shares) \| shares	62,375
Vested (in shares) \| shares	(23,316)
Forfeitures (in shares) \| shares	(823)
Ending balance (in shares) \| shares	203,789
Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 44.81
Granted (in dollars per share) \| $ / shares	39.17
Vested (in dollars per share) \| $ / shares	48.85
Forfeitures (in dollars per share) \| $ / shares	43.89
Ending balance (in dollars per share) \| $ / shares	$ 42.63

Stock-Based Compensation - Summary of PBRS Activity (Details) - Performance-based Restricted Stock	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares) \| shares	116,543
Granted (in shares) \| shares	57,542
Vested (in shares) \| shares	(34,066)
Forfeitures (in shares) \| shares	(1,234)
Ending balance (in shares) \| shares	138,785
Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 46.79
Granted (in dollars per share) \| $ / shares	39.58
Vested (in dollars per share) \| $ / shares	49.05
Forfeitures (in dollars per share) \| $ / shares	43.89
Ending balance (in dollars per share) \| $ / shares	$ 43.19

Stock-Based Compensation - Summary of Company's SARs Activity (Details) - SARs - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning balance (in shares)	117,089
Exercised (in shares)	(23,976)
Ending balance (in shares)	93,113	117,089
Fair Value
Beginning balance (in dollars per share)	$ 34.91
Exercised (in dollars per share)	27.78
Ending balance (in dollars per share)	$ 36.75	$ 34.91
Outstanding, average remaining contractual term (in years)	7 months 24 days	1 year 2 months 15 days
Aggregate intrinsic value	$ 174	$ 741

Defined Pension Plans - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Pension period			30 years
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Net periodic cost (benefit)	$ 616	$ 678	$ 1,847	$ 1,096	$ (1,839)
Contributions			0
Supplemental Employee Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Net periodic cost (benefit)	$ 107	$ 160	$ 320	$ 481	$ 641

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Defined Pension Plans - Schedule of Net Periodic Pension Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2022	Dec. 31, 2021
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost – benefits earned during the year						$ 1,002
Interest cost on projected benefit obligation						3,076
Expected return on plan assets						(6,310)
Net amortization						393
Net periodic pension (benefit) cost	$ 616	$ 678	$ 1,847	$ 1,096		(1,839)
Pension Plan \| Forecast
Defined Benefit Plan Disclosure [Line Items]
Service cost – benefits earned during the year					$ 0
Interest cost on projected benefit obligation					3,290
Expected return on plan assets					(5,860)
Net amortization					0
Net periodic pension (benefit) cost					(2,570)
Supplemental Employee Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost – benefits earned during the year						147
Interest cost on projected benefit obligation						291
Net amortization						203
Net periodic pension (benefit) cost	$ 107	$ 160	$ 320	$ 481		$ 641
Supplemental Employee Retirement Plan \| Forecast
Defined Benefit Plan Disclosure [Line Items]
Service cost – benefits earned during the year					0
Interest cost on projected benefit obligation					318
Net amortization					108
Net periodic pension (benefit) cost					$ 426

Income Taxes (Details)	3 Months Ended		9 Months Ended
Income Taxes (Details)	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	19.20%	14.70%	19.30%	17.00%

Investment in Securities - Schedule of Investment Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Marketable Securities [Line Items]
Amortized Cost	$ 841,781	$ 664,271
Gross Unrealized Gains	18	13,138
Gross Unrealized Losses	78,010	3,956
Fair Value	763,789	673,453
AFS, Less than 12 months, Estimated Fair Value	641,920	328,196
AFS, Less than 12 months, Unrealized Losses	53,813	3,956
AFS, 12 months or more, Estimated Fair Value	95,191	0
AFS, 12 months or more, Unrealized Losses	24,197	0
Debt Securities, Available-for-sale, Unrealized Loss Position	737,111	328,196
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	78,010	3,956
State and political subdivisions
Marketable Securities [Line Items]
Amortized Cost	326,506	359,187
Gross Unrealized Gains	18	12,931
Gross Unrealized Losses	28,078	990
Fair Value	298,446	371,128
AFS, Less than 12 months, Estimated Fair Value	246,743	60,083
AFS, Less than 12 months, Unrealized Losses	19,158	990
AFS, 12 months or more, Estimated Fair Value	30,025	0
AFS, 12 months or more, Unrealized Losses	8,920	0
Debt Securities, Available-for-sale, Unrealized Loss Position	276,768	60,083
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	28,078	990
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises
Marketable Securities [Line Items]
Amortized Cost	210,111	170,711
Gross Unrealized Gains	0	135
Gross Unrealized Losses	31,978	2,200
Fair Value	178,133	168,646
AFS, Less than 12 months, Estimated Fair Value	119,478	163,652
AFS, Less than 12 months, Unrealized Losses	18,240	2,200
AFS, 12 months or more, Estimated Fair Value	58,655	0
AFS, 12 months or more, Unrealized Losses	13,738	0
Debt Securities, Available-for-sale, Unrealized Loss Position	178,133	163,652
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	31,978	2,200
Corporate bonds
Marketable Securities [Line Items]
Amortized Cost	96,405	84,538
Gross Unrealized Gains	0	72
Gross Unrealized Losses	12,614	272
Fair Value	83,791	84,338
AFS, Less than 12 months, Estimated Fair Value	72,280	55,120
AFS, Less than 12 months, Unrealized Losses	11,075	272
AFS, 12 months or more, Estimated Fair Value	6,511	0
AFS, 12 months or more, Unrealized Losses	1,539	0
Debt Securities, Available-for-sale, Unrealized Loss Position	78,791	55,120
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	12,614	272
U.S. treasury bonds
Marketable Securities [Line Items]
Amortized Cost	158,623
Gross Unrealized Gains	0
Gross Unrealized Losses	3,504
Fair Value	155,119
AFS, Less than 12 months, Estimated Fair Value	155,119
AFS, Less than 12 months, Unrealized Losses	3,504
AFS, 12 months or more, Estimated Fair Value	0
AFS, 12 months or more, Unrealized Losses	0
Debt Securities, Available-for-sale, Unrealized Loss Position	155,119
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	3,504
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises
Marketable Securities [Line Items]
Amortized Cost	50,136	49,835
Gross Unrealized Gains	0	0
Gross Unrealized Losses	1,836	494
Fair Value	48,300	49,341
AFS, Less than 12 months, Estimated Fair Value	48,300	49,341
AFS, Less than 12 months, Unrealized Losses	1,836	494
AFS, 12 months or more, Estimated Fair Value	0	0
AFS, 12 months or more, Unrealized Losses	0	0
Debt Securities, Available-for-sale, Unrealized Loss Position	48,300	49,341
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ 1,836	$ 494

Investment in Securities - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) security	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) security	Sep. 30, 2021 USD ($)	Dec. 31, 2021 security
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities, number of positions \| security	326		326		101
Available-for-sale securities, percentage of total securities	93.00%		93.00%		28.00%
Available-for-sale securities, number of positions, greater than one year \| security	44		44		0
Proceeds from sales of securities available-for-sale	$ 2,317	$ 30,074	$ 3,838	$ 43,190
Available-for-sale securities, gross realized gains	$ 13		$ 15	$ 44
Available-for-sale securities, gross realized losses		$ 1

Investment in Securities - Schedule of the Fair Values of Securities with Unrealized Losses (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	$ 641,920	$ 328,196
AFS, Less than 12 months, Unrealized Losses	53,813	3,956
AFS, 12 months or more, Estimated Fair Value	95,191	0
AFS, 12 months or more, Unrealized Losses	24,197	0
AFS, Total Estimated Fair Value	737,111	328,196
AFS, Total Unrealized Losses	78,010	3,956
State and political subdivisions
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	246,743	60,083
AFS, Less than 12 months, Unrealized Losses	19,158	990
AFS, 12 months or more, Estimated Fair Value	30,025	0
AFS, 12 months or more, Unrealized Losses	8,920	0
AFS, Total Estimated Fair Value	276,768	60,083
AFS, Total Unrealized Losses	28,078	990
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	119,478	163,652
AFS, Less than 12 months, Unrealized Losses	18,240	2,200
AFS, 12 months or more, Estimated Fair Value	58,655	0
AFS, 12 months or more, Unrealized Losses	13,738	0
AFS, Total Estimated Fair Value	178,133	163,652
AFS, Total Unrealized Losses	31,978	2,200
Corporate bonds
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	72,280	55,120
AFS, Less than 12 months, Unrealized Losses	11,075	272
AFS, 12 months or more, Estimated Fair Value	6,511	0
AFS, 12 months or more, Unrealized Losses	1,539	0
AFS, Total Estimated Fair Value	78,791	55,120
AFS, Total Unrealized Losses	12,614	272
U.S. treasury bonds
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	155,119
AFS, Less than 12 months, Unrealized Losses	3,504
AFS, 12 months or more, Estimated Fair Value	0
AFS, 12 months or more, Unrealized Losses	0
AFS, Total Estimated Fair Value	155,119
AFS, Total Unrealized Losses	3,504
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	48,300	49,341
AFS, Less than 12 months, Unrealized Losses	1,836	494
AFS, 12 months or more, Estimated Fair Value	0	0
AFS, 12 months or more, Unrealized Losses	0	0
AFS, Total Estimated Fair Value	48,300	49,341
AFS, Total Unrealized Losses	$ 1,836	$ 494

Investment in Securities - Schedule of Amortized Cost and Fair Value of Investment Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Amortized Cost
Due in 1 year or less	$ 65,238
Due after 1 year through 5 years	267,021
Due after 5 years through 10 years	231,748
Due after 10 years	277,774
Amortized Cost	841,781	$ 664,271
Fair Value
Due in 1 year or less	64,875
Due after 1 year through 5 years	260,368
Due after 5 years through 10 years	203,575
Due after 10 years	234,971
Total	$ 763,789	$ 673,453

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Balance sheet assets:
Investment securities	$ 763,789	$ 673,453
Carrying Amount
Balance sheet assets:
Cash and cash equivalents	346,994	514,928
Investment securities	763,789	673,453
Loans, net	1,024,052	948,526
Accrued interest receivable	7,609	6,799
Total	2,142,444	2,143,706
Balance sheet liabilities:
Deposits	1,229,721	1,221,503
Accounts and drafts payable	1,146,334	1,050,396
Accrued interest payable	46	16
Total	2,376,101	2,271,915
Fair Value
Balance sheet assets:
Cash and cash equivalents	346,994	514,928
Investment securities	763,789	673,453
Loans, net	972,338	948,701
Accrued interest receivable	7,609	6,799
Total	2,090,730	2,143,881
Balance sheet liabilities:
Deposits	1,229,721	1,221,503
Accounts and drafts payable	1,146,334	1,050,396
Accrued interest payable	46	16
Total	$ 2,376,101	$ 2,271,915

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue, Performance Obligation [Abstract]
Fee revenues, in-scope of FASB ASC 606	$ 30,505	$ 27,408	$ 90,732	$ 79,995
Other income (out-of-scope of FASB ASC 606)	1,279	169	2,133	744
Total fee revenue and other income	31,784	27,577	92,865	80,739
Processing fees
Revenue, Performance Obligation [Abstract]
Fee revenues, in-scope of FASB ASC 606	18,964	18,461	57,184	55,882
Financial fees
Revenue, Performance Obligation [Abstract]
Fee revenues, in-scope of FASB ASC 606	11,252	8,624	32,406	23,122
Information services payment and processing revenue
Revenue, Performance Obligation [Abstract]
Fee revenues, in-scope of FASB ASC 606	30,216	27,085	89,590	79,004
Bank service fees
Revenue, Performance Obligation [Abstract]
Fee revenues, in-scope of FASB ASC 606	$ 289	$ 323	$ 1,142	$ 991

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Leases - Narrative (Details) $ in Thousands	3 Months Ended	9 Months Ended
Leases - Narrative (Details) $ in Thousands	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)
Leases [Abstract]
Operating lease, liability	$ 9,759	$ 9,759
Operating lease, right-of-use asset	$ 9,435	$ 9,435
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating lease, cost	$ 386	$ 1,184
Short-term lease, cost	51	156
Variable lease, cost	$ 0	$ 0
Operating lease, weighted average remaining lease term	8 years 4 months 24 days	8 years 4 months 24 days
Operating lease, weighted average discount rate, percent	3.59%	3.59%

Leases - Schedule of Operating Lease Maturity (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Lease payments due
Less than 1 year	$ 1,359
1-2 years	1,332
2-3 years	1,339
3-4 years	1,354
4-5 years	1,350
Over 5 years	4,561
Total undiscounted cash flows	11,295
Discount on cash flows	1,536
Total lease liability	$ 9,759