|
Selected Financial Data (in thousands except
number of employees)
|
3/31/2023
|
12/31/2022
|
3/31/20222
|
Commentary
|
|
Scheduled CD maturities for subsequent quarter
|
$ 156,886
|
$
311,315
|
$
196,528
|
|
|
Average rate scheduled CD maturities for subsequent quarter
|
2.38%
|
1.70%
|
0.65%
|
|
|
Loan rate (excludes fees), Qtr-End
|
5.66%
|
5.41%
|
4.34%
|
|
|
Cost of total deposits, Qtr-End
|
2.31%
|
1.66%
|
0.19%
|
|
|
Cost of interest-bearing DDAs, Qtr-End
|
3.12%
|
2.39%
|
0.24%
|
|
|
Cost of interest-bearing deposits, Qtr-End
|
3.08%
|
2.32%
|
0.32%
|
|
|
Noninterest bearing DDA balances, Qtr-End
|
$
2,898,736
|
$
3,321,347
|
$
4,889,495
|
|
|
Reserve for unfunded commitments, Qtr-End
|
$
575
|
$
575
|
$
1,600
|
|
|
Credit card spend QTD
|
$
259,592
|
$
262,684
|
$
226,227
|
|
|
Credit card net income QTD
|
$
1,689
|
$
2,261
|
$
2,372
|
|
|
Merchant services fees QTD
|
$
455
|
$
490
|
$
336
|
|
|
Mortgage banking income QTD
|
$
442
|
$
514
|
$
526
|
|
|
FDIC insurance QTD
|
$
1,275
|
$
1,075
|
$
945
|
|
|
Write down tax credit investment QTD
|
$
2,716
|
$
2,499
|
$
2,499
|
The write down of our tax credit investment increased non-interest expenses by $2.7
million during the 1st quarter 2023, but was offset
by an income tax reduction of $3.9 million.
|
|
Salaries & employee benefits QTD
|
$
19,066
|
$
19,230
|
$
18,301
|
|
|
Other operating expense
|
$
6,702
|
$
4,957
|
$
8,252
|
Other operating expense increased $1.7 million on a linked-quarter basis. ACL for unfunded commitments in
Q4 2022 was a credit of
$1.4 million compared to no provision during Q1 2023.
|
|
Third party processing and other services QTD
|
$
7,284
|
$
8,170
|
$
5,605
|
FRB service charges decreased $1.4 million quarter/quarter.
|
|
Equipment and occupancy expense QTD
|
$
3,435
|
$
3,263
|
$
2,933
|
|
|
Business meals QTD
|
$
532
|
$
461
|
$
429
|
|
|
Earnings retention YTD
|
74%
|
79%
|
78%
|
|
|
Number of employees
|
581
|
580
|
519
|
|
|
QTD tax rate
|
18.07%
|
19.49%
|
18.96%
|
|
|
YTD tax rate
|
18.07%
|
18.56%
|
18.96%
|