Selected Financial Data (in thousands except number of employees)
|
9/30/2022
|
6/30/2022
|
9/30/2021
|
Commentary
|
|||||||||
Scheduled CD maturities for subsequent quarter
|
$
|
198,908
|
$
|
196,280
|
$
|
208,862
|
|||||||
Average rate scheduled CD maturities for subsequent quarter
|
0.96
|
%
|
0.62
|
%
|
0.80
|
%
|
|||||||
Cost of total deposits, Qtr-End
|
0.50
|
%
|
0.22
|
%
|
0.20
|
%
|
|||||||
Cost of interest-bearing DDAs, Qtr-End
|
0.85
|
%
|
0.31
|
%
|
0.24
|
%
|
|||||||
Cost of interest-bearing deposits, Qtr-End
|
0.75
|
%
|
0.37
|
%
|
0.32
|
%
|
|||||||
Noninterest bearing DDA balances, Qtr-End
|
$
|
3,661,936
|
$
|
4,686,511
|
$
|
4,366,654
|
|||||||
Reserve for unfunded commitments, Qtr-End
|
$
|
1,929
|
$
|
1,600
|
$
|
3,000
|
|||||||
Credit card spend QTD
|
$
|
274,517
|
$
|
263,888
|
$
|
215,755
|
|||||||
Credit card net income QTD
|
$
|
2,612
|
$
|
2,672
|
$
|
2,043
|
|||||||
Merchant services fees QTD
|
$
|
468
|
$
|
471
|
$
|
375
|
|||||||
Mortgage banking income QTD
|
$
|
784
|
$
|
614
|
$
|
1,423
|
|||||||
FDIC insurance QTD
|
$
|
975
|
$
|
960
|
$
|
1,400
|
|||||||
Write down tax credit investment QTD
|
$
|
2,499
|
$
|
2,499
|
$
|
2,931
|
The write down of our tax credit investment increased non-interest expenses by $2.5 million during the 3rd quarter 2022, but was offset by an income tax
reduction of $3.35 million.
|
||||||
Salaries & employee benefits QTD
|
$
|
19,687
|
$
|
20,734
|
$
|
17,995
|
Excluding an additional $1.8 million accrual in our annual incentive program during the 2nd Qtr of 2022, salaries and benefits increased $750,000 from
6/30/2022 to 9/30/2022.
|
||||||
Other operating expense
|
$
|
10,613
|
$
|
7,253
|
$
|
6,541
|
Third quarter activity includes preliminary settlement of litigation and a write down of a private investment resulting in charges of $3.1 million.
|
||||||
Third party processing and other services QTD
|
$
|
7,123
|
$
|
6,345
|
$
|
4,144
|
|||||||
Equipment and occupancy expense QTD
|
$
|
3,140
|
$
|
2,983
|
$
|
2,996
|
|||||||
Business meals QTD
|
$
|
259
|
$
|
293
|
$
|
316
|
|||||||
Earnings retention YTD
|
79
|
%
|
79
|
%
|
79
|
%
|
|||||||
Number of employees
|
567
|
550
|
525
|
||||||||||
QTD tax rate
|
17.14
|
%
|
18.83
|
%
|
18.0
|
%
|
|||||||
YTD tax rate
|
18.28
|
%
|
18.89
|
%
|
19.7
|
%
|