Exhibit 99.3
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% |