Cass Information Systems (CASS) 10-Q 6 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 22, 2021
Document and Entity Information [Abstract]
Entity Central Index Key	0000708781
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2021
Entity File Number	000-20827
Entity Registrant Name	CASS INFORMATION SYSTEMS, INC.
Entity Incorporation, State or Country Code	MO
Entity Tax Identification Number	43-1265338
Entity Address, Address Line One	12444 Powerscourt Drive
Entity Address, Address Line Two	Suite 550
Entity Address, City or Town	St. Louis
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	63131
City Area Code	314
Local Phone Number	506-5500
Title of 12(b) Security	Common stock, par value $.50
Trading Symbol	CASS
Name of Exchange on which Security is Registered	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		14,400,909

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 25,291	$ 30,985
Interest-bearing deposits in other financial institutions	444,624	393,810
Federal funds sold and other short-term investments	129,744	245,733
Cash and cash equivalents	599,659	670,528
Securities available-for-sale, at fair value	427,244	357,726
Loans	888,575	891,676
Less: Allowance for credit losses	11,721	11,944
Loans, net	876,854	879,732
Payments in excess of funding	216,475	194,563
Premises and equipment, net	17,825	18,057
Investment in bank-owned life insurance	17,646	18,058
Goodwill	14,262	14,262
Other intangible assets, net	3,208	3,423
Other assets	43,400	46,886
Total assets	2,216,573	2,203,235
Deposits:
Noninterest-bearing	424,859	493,504
Interest-bearing	578,276	557,352
Total deposits	1,003,135	1,050,856
Accounts and drafts payable	897,508	835,386
Other liabilities	56,443	55,833
Total liabilities	1,957,086	1,942,075
Shareholders' Equity:
Preferred stock, par value $.50 per share; 2,000,000 shares authorized and no shares issued
Common stock, par value $.50 per share; 40,000,000 shares authorized and 15,505,772 shares issued at March 31, 2021 and December 31, 2020	7,753	7,753
Additional paid-in capital	202,828	204,875
Retained earnings	102,247	99,062
Common shares in treasury, at cost (1,106,941 shares at March 31, 2021 and 1,113,103 shares at December 31, 2020)	(49,949)	(50,515)
Accumulated other comprehensive loss	(3,392)	(15)
Total shareholders' equity	259,487	261,160
Total liabilities and shareholders' equity	$ 2,216,573	$ 2,203,235

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value per share	$ 0.50	$ 0.50
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued
Common stock, par value per share	$ 0.50	$ 0.50
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	15,505,772	15,505,772
Treasury stock, shares	1,106,941	1,113,103

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Fee Revenue and Other Income:
Information services payment and processing revenue	$ 25,216	$ 25,503
Bank service fees	494	410
Gains on sales of securities	48	1,069
Other	417	113
Total fee revenue and other income	26,175	27,095
Interest Income:
Interest and fees on loans	8,587	9,001
Interest and dividends on securities:
Taxable	198	560
Exempt from federal income taxes	1,739	1,819
Interest on federal funds sold and other short-term investments	152	958
Total interest income	10,676	12,338
Interest Expense:
Interest on deposits	331	963
Interest on short-term borrowings		2
Total interest expense	331	965
Net interest income	10,345	11,373
(Release of) provision for credit losses	(600)	325
Net interest income after provision for credit losses	10,945	11,048
Total net revenue	37,120	38,143
Operating Expense:
Personnel	22,526	22,427
Occupancy	947	941
Equipment	1,675	1,635
Amortization of intangible assets	215	215
Other operating expense	3,162	3,711
Total operating expense	28,525	28,929
Income before income tax expense	8,595	9,214
Income tax expense	1,524	1,669
Net income	$ 7,071	$ 7,545
Basic earnings per share	$ 0.49	$ 0.52
Diluted earnings per share	$ 0.49	$ 0.52

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Comprehensive Income:
Net income	$ 7,071	$ 7,545
Other comprehensive (loss) income:
Net unrealized (loss) gain on securities available-for-sale	(4,214)	578
Tax effect	1,003	(138)
Reclassification adjustments for gains included in net income	(48)	(1,069)
Tax effect	11	254
Foreign currency translation adjustments	(129)	(144)
Total comprehensive income	$ 3,694	$ 7,026

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows From Operating Activities:
Net income	$ 7,071	$ 7,545
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,978	2,790
Gains on sales of securities	(48)	(1,069)
Stock-based compensation expense	693	722
(Release of) provision for credit losses	(600)	325
Increase in income tax liability	1,355	1,512
Increase in pension liability	336	1,079
Increase in accounts receivable	(237)	(105)
Other operating activities, net	5,156	5,361
Net cash provided by operating activities	16,704	18,160
Cash Flows From Investing Activities:
Proceeds from sales of securities available-for-sale	2,991	19,629
Proceeds from maturities of securities available-for-sale	47,113	14,148
Purchase of securities available-for-sale	(125,467)
Net decrease (increase) in loans	3,478	(82,134)
Increase in payments in excess of funding	(21,912)	(2,687)
Purchases of premises and equipment, net	(900)	(331)
Net cash used in investing activities	(94,697)	(51,375)
Cash Flows From Financing Activities:
Net decrease in noninterest-bearing demand deposits	(68,645)	(62,865)
Net increase in interest-bearing demand and savings deposits	21,373	31,761
Net (decrease) increase in time deposits	(449)	575
Net increase in accounts and drafts payable	60,905	51,639
Net decrease in short-term borrowings		(18,000)
Cash dividends paid	(3,886)	(3,918)
Purchase of common shares for treasury	(1,228)	(5,508)
Other financing activities, net	(946)	(1,229)
Net cash provided by (used) in financing activities	7,124	(7,545)
Net decrease in cash and cash equivalents	(70,869)	(40,760)
Cash and cash equivalents at beginning of period	670,528	203,954
Cash and cash equivalents at end of period	599,659	163,194
Supplemental information:
Cash paid for interest	311	964
Cash paid for income taxes	$ 134	$ 142

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Total
Balance at Dec. 31, 2019	$ 7,753	$ 205,397	$ 90,341	$ (45,381)	$ (13,920)	$ 244,190
Net income			7,545			7,545
Cash dividends			(3,918)			(3,918)
Issuance of common shares pursuant to stock-based compensation plan, net		(2,075)		948		(1,127)
Exercise of SARs		(243)		141		(102)
Stock-based compensation expense		722				722
Purchase of common shares				(5,508)		(5,508)
Other comprehensive loss					(519)	(519)
Balance at Mar. 31, 2020	7,753	203,801	93,968	(49,800)	(14,439)	241,283
Balance at Dec. 31, 2020	7,753	204,875	99,062	(50,515)	(15)	261,160
Net income			7,071			7,071
Cash dividends			(3,886)			(3,886)
Issuance of common shares pursuant to stock-based compensation plan, net		(2,426)		1,596		(830)
Exercise of SARs		(314)		198		(116)
Stock-based compensation expense		693				693
Purchase of common shares				(1,228)		(1,228)
Other comprehensive loss					(3,377)	(3,377)
Balance at Mar. 31, 2021	$ 7,753	$ 202,828	$ 102,247	$ (49,949)	$ (3,392)	$ 259,487

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends, per share	$ 0.27	$ 0.27
Stock issued pursuant to stock-based compensation	69,374	57,333
Shares repurchased during period	31,256	128,779

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1 – Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included. Certain amounts in prior-period financial statements have been reclassified to conform to the current period’s presentation. Such reclassifications have no effect on previously reported net income or shareholders’ equity. Results for quarterly reporting periods beginning after December 31, 2020 in the Company’s Form 10-Q will be presented under ASU 2016-13 while prior quarterly period amounts continue to be reported in accordance with previously applicable GAAP. 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, 2020. Risks and Uncertainties On March 11, 2020, the World Health Organization (“WHO”) declared the outbreak of COVID-19 as a global pandemic, which continues to spread throughout the United States and around the world. The declaration of a global pandemic indicates that almost all public commerce and related business activities must be, to varying degrees, curtailed with the goal of decreasing the rate of new infections. This response to the COVID-19 pandemic has resulted in an unprecedented slow-down in economic activity and a related increase in unemployment. In late fiscal 2020, vaccines for combatting COVID-19 were approved by health agencies and began to be administered. However, initial quantities of vaccines are limited and vaccine distributions, controlled by local authorities, are being allocated, generally first to front-line health care workers and other essential workers and next to those members of individual populations believed most susceptible to severe effects from COVID-19. The timeline of full administration of the COVID-19 vaccines is uncertain and fluctuating. The impact of COVID-19, including the impact of restrictions imposed to combat its spread, could result in additional and prolonged business closures, work restrictions and activity restrictions. The Company is closely monitoring developments related to COVID-19 checking regularly for updated information and recommendations from the WHO and the CDC, from national, state, and local governments, and evaluating courses of action being taken by peers. The duration and severity of the effect of COVID-19 on economic, market and business conditions and the timeline and shape of recovery from the pandemic remain uncertain. At this time, the Company remains subject to heightened business, operational, market, credit and other risks related to the COVID-19 pandemic, including, but not limited to, those discussed below, which may have an adverse effect on business, financial condition and results of operations. Financial position and results of operations - In response to COVID-19, the Federal Reserve has taken action to lower the Federal Funds rate, which has adversely affected interest income and therefore, the Company’s results of operations and financial condition. The Federal Reserve has continued its commitment to this approach, indicating that the target Federal Funds rate would remain at current levels until the economy is in a more stable employment and price-stability position. -8- Table of Contents To the extent the business disruption continues for an extended period, additional cost control actions will be considered. Future asset impairment charges, increases in allowance for credit losses, or restructuring charges could be more likely and will be dependent on the severity and duration of this crisis and its effect on the Company’s borrowers. For payment processing services, business closures cause a decrease in the number of transactions and dollars processed due to the decline in customers’ business activity. In addition, the dampened demand for oil and volatility in oil prices has had, and can continue to have, a negative effect on both the number of freight transactions processed and the dollar amount of invoices processed. Other financial impact could occur though such potential impact is unknown at this time. Capital and liquidity - The Company maintains access to multiple sources of liquidity. If funding costs are elevated for an extended period of time, it could have an adverse effect on the Company’s net interest margin. If an extended recession caused large numbers of the Bank’s customers to draw down deposits, the Company might become more reliant on more expensive sources of funding. Asset valuation - The economic slowdown as a result of COVID-19 could cause a decline in the Company’s stock price or the occurrence of what management would deem to be a triggering event that could, under certain circumstances, necessitate a goodwill or intangible asset impairment test and result in an impairment charge being recorded for that period. In the event that the Company concludes that all or a portion of its goodwill is impaired, a non-cash charge for the amount of such impairment would be recorded to earnings. Such a charge would have no impact on tangible capital or regulatory capital. Processes, controls and business continuity - In the past several years, Cass has invested in sophisticated technology initiatives that enable employees to operate remotely with full system(s) access along with unified and transparent voice and electronic communications capabilities, ensuring seamless service delivery. The Company cannot predict when or how it will fully lift the actions put in place as part of the Business Continuity Plan, including work from home requirements and travel restrictions. Cass does not believe the work from home protocol has materially adversely impacted internal controls, financial reporting systems, or operations.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 2 – Intangible Assets The Company accounts for intangible assets in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 350, Goodwill and Other Intangible Assets -9- Table of Contents Details of the Company’s intangible assets are as follows: March 31, 2021 December 31, 2020 (In thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Assets eligible for amortization: Customer lists $ 4,778 $ (4,012) $ 4,778 $ (3,902) Patents 72 (25) 72 (24) Non-compete agreements 332 (332) 332 (332) Software 2,844 (824) 2,844 (731) Trade Name 190 (15) 190 (13) Other 500 (300) 500 (291) Unamortized intangible assets: Goodwill 1 14,489 (227) 14,489 (227) Total intangible assets $ 23,205 $ (5,735) $ 23,205 $ (5,520) 1 Amortization through December 31, 2001 prior to adoption of FASB ASC 350. The customer lists are amortized over 7 and 10 years; the patents over 18 years; the non-compete agreements over 2 and 5 years; software over 3 years and 7 years, the trade name over 20 years and other intangible assets over 15 years. Amortization of intangible assets amounted to $215,000 for both the three-month periods ended March 31, 2021 and 2020. Estimated future amortization of intangibles is $859,000 in 2021, $540,000 in both 2022 and 2023, $498,000 in 2024, and $490,000 in 2025.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Note 3 – Earnings Per Share Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the sum of the weighted-average number of common shares outstanding and the weighted-average number of potential common shares outstanding. Under the treasury stock method, stock appreciation rights (“SARs”) are dilutive when the average market price of the Company’s common stock, combined with the effect of any unamortized compensation expense, exceeds the SAR price during a period. Anti-dilutive shares are those SARs with prices in excess of the current market value. The calculations of basic and diluted earnings per share are as follows: Three Months Ended March 31, (In thousands except share and per share data) 2021 2020 Basic Net income $ 7,071 $ 7,545 Weighted-average common shares outstanding 14,312,260 14,422,813 Basic earnings per share $ .49 $ .52 Diluted Net income $ 7,071 $ 7,545 Weighted-average common shares outstanding 14,312,260 14,422,813 Effect of dilutive restricted stock and stock appreciation rights 220,809 207,700 Weighted-average common shares outstanding assuming dilution 14,533,069 14,630,513 Diluted earnings per share $ .49 $ .52

Stock Repurchases

Stock Repurchases	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Stock Repurchases	Note 4 – Stock Repurchases The Company maintains a treasury stock buyback program pursuant to which the Board of Directors has authorized the repurchase of up to 500,000 shares of the Company’s common stock. As restored by the Board of Directors in October 2020, the program provides that the Company may repurchase up to an aggregate of 500,000 shares of common stock and has no expiration date. As of March 31, 2021, 434,622 shares remained available for repurchase under the program. The Company repurchased 31,256 shares during the three-month period ended March 31, 2021 and 128,779 shares during the three-month period ended March 31, 2020. Repurchases may be made in the open market or through negotiated transactions from time to time depending on market conditions.

Industry Segment Information

Industry Segment Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Industry Segment Information	Note 5 – Industry Segment Information The services provided by the Company are classified into two reportable segments: Information Services and Banking Services. Each of these segments provides distinct services that are marketed through different channels. They are managed separately due to their unique service and processing requirements. The Information Services segment provides transportation, energy, telecommunication, and environmental invoice processing and payment services to large corporations. The Banking Services segment provides banking services primarily to privately held businesses and faith-based ministries, including on-line generosity services, as well as supporting the banking needs of the Information Services segment. The Company’s accounting policies for segments are the same as those described in the summary of significant accounting policies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. 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. -11- Table of Contents 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 March 31, 2021 Fee income $ 24,977 $ 638 $ 560 $ 26,175 Interest income* 5,509 5,751 (122) 11,138 Interest expense — 331 — 331 Intersegment income (expense) — 623 (623) — Tax-equivalized pre-tax income* 6,013 2,762 282 9,057 Goodwill 12,433 1,829 — 14,262 Other intangible assets, net 634 2,574 — 3,208 Total Assets 1,023,196 1,263,669 (70,292) 2,216,573 Funding Sources 837,852 849,177 — 1,687,029 Three Months Ended March 31, 2020 Fee income $ 25,440 $ 615 $ 1,040 $ 27,095 Interest income* 4,707 7,284 831 12,822 Interest expense — 965 — 965 Intersegment income (expense) — 525 (525) — Tax-equivalized pre-tax income* 5,123 2,703 1,872 9,698 Goodwill 12,433 1,829 — 14,262 Other intangible assets, net 1,040 3,026 — 4,066 Total Assets 833,774 926,445 (28,237) 1,731,982 Funding Sources 677,829 611,135 — 1,288,964 * Presented on a tax-equivalent basis assuming a tax rate of 21%. The tax-equivalent adjustment was approximately $462,000 and $484,000 for the three months ended March 31, 2021 and 2020, respectively.

Loans by Type

Loans by Type	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Loans by Type	Note 6 – Loans by Type A summary of loan categories is as follows: (In thousands) March 31, 2021 December 31, 2020 Commercial and industrial $ 302,747 $ 298,984 Real estate: Commercial: Mortgage 96,630 100,419 Construction 23,766 25,090 Faith-based: Mortgage 331,153 333,661 Construction 20,800 23,818 Paycheck Protection Program (“PPP”) 113,474 109,704 Other 5 — Total loans $ 888,575 $ 891,676 In support of the Coronavirus, Aid, Relief, and Economic Security Act (the “CARES Act”), the Bank had processed nearly 450 applications for PPP loans of approximately $210,000,000 to provide much-needed cash to small business and self-employed taxpayers during the COVID-19 crisis. The loans were primarily made to existing bank customers and are 100% guaranteed by the Small Business Administration and no allowance for credit loss was recorded for these loans. -12- Table of Contents The following table presents the aging of loans by loan categories at March 31, 2021 and December 31, 2020: Performing Nonperforming (In thousands) Current 30-59 Days 60-89 Days 90 Days and Over Non- accrual Total Loans March 31, 2021 Commercial and industrial $ 302,747 $ — $ — $ — $ — $ 302,747 Real estate Commercial: Mortgage 96,630 — — — — 96,630 Construction 23,766 — — — — 23,766 Faith-based: Mortgage 331,153 — — — — 331,153 Construction 20,800 — — — — 20,800 PPP 113,474 — — — — 113,474 Other 5 — — — — 5 Total $ 888,575 $ — $ — $ — $ — $ 888,575 December 31, 2020 Commercial and industrial $ 298,984 $ — $ — $ — $ — $ 298,984 Real estate Commercial: Mortgage 100,419 — — — — 100,419 Construction 25,090 — — — — 25,090 Faith-based: Mortgage 333,661 — — — — 333,661 Construction 23,818 — — — — 23,818 PPP 109,704 — — — — 109,704 Total $ 891,676 $ — $ — $ — $ — $ 891,676 The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of March 31, 2021 and December 31, 2020: (In thousands) Loans Subject to Normal Monitoring 1 Performing Loans Subject to Special Monitoring 2 Nonperforming Loans Subject to Special Monitoring 2 Total Loans March 31, 2021 Commercial and industrial $ 289,698 $ 13,049 $ — $ 302,747 Real estate Commercial: Mortgage 95,305 1,325 — 96,630 Construction 23,766 — — 23,766 Faith-based: Mortgage 328,105 3,048 — 331,153 Construction 20,800 — — 20,800 PPP 113,474 — — 113,474 Other 5 — — 5 Total $ 871,153 $ 17,422 $ — $ 888,575 December 31, 2020 Commercial and industrial $ 284,882 $ 14,102 $ — $ 298,984 Real estate Commercial: Mortgage 99,044 1,375 — 100,419 Construction 25,090 — — 25,090 Faith-based: Mortgage 330,554 3,107 — 333,661 Construction 23,818 — — 23,818 PPP 109,704 — — 109,704 Total $ 873,092 $ 18,584 $ — $ 891,676 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. -13- Table of Contents The Company had two loans that were considered impaired in the amount of $2,912,000 at March 31, 2021. These loans were individually evaluated for impairment, resulting in a specific allowance for credit loss of $750,000. The Company had one loan that was considered impaired in the amount of $2,500,000 at December 31, 2020. This loan was individually evaluated for impairment, resulting in a specific allowance for credit loss of $500,000. There were no foreclosed loans recorded as other real estate owned (included in other assets) as of March 31, 2021 or December 31, 2020. There were no loans considered troubled debt restructurings as of March 31, 2021. There were two loans that were considered troubled debt restructurings at December 31, 2020 and these loans were removed from troubled debt restructuring status during the first quarter 2021. The recorded investment by category for loans considered as troubled debt restructuring during the year ended December 31, 2020 is as follows: (In thousands) Number of Loans Pre-Modification Outstanding Balance Post-Modification Outstanding Balance Commercial and industrial 1 $ 8,773 $ 8,773 Faith-based real estate 1 1,029 1,029 Total 2 $ 9,802 $ 9,802 During the year ended December 31, 2020, two loans were restructured to change the amortization schedule to reduce payments from the borrowers while the contractual interest rate remained unchanged. These loans did not have a specific allowance for credit loss allocated to them at December 31, 2020. There were no loans restructured that subsequently defaulted during the year ended December 31, 2020. A summary of the activity in allowance for credit losses (“ACL”) by category for the period ended March 31, 2021 and December 31, 2020 is as follows: (In thousands) C&I CRE Faith-based CRE Construction Total Allowance for credit losses on loans: Balance at December 31, 2020 $ 4,635 $ 1,175 $ 5,717 $ 417 $ 11,944 Charge Offs — — — — — (Release of) provision for credit losses 54 (65) (200) (29) (240) Recoveries 2 — 15 — 17 Balance at March 31, 2021 $ 4,691 $ 1,110 $ 5,532 $ 388 $ 11,721 The decrease in the provision for credit losses on loans during the quarter ended March 31, 2021 is due to the Company’s forecast of macroeconomic factors, which improved during the first quarter 2021. (In thousands) C&I CRE Faith-based CRE Construction Total Allowance for credit losses on loans: Balance at December 31, 2019 $ 4,874 $ 1,528 $ 3,842 $ 312 $ 10,556 Cumulative effect of accounting change (ASU 2016-13) (526) (401) 1,636 14 723 Balance at January 1, 2020 4,348 1,127 5,478 326 11,279 Provision for credit losses 268 48 238 91 645 Recoveries 19 — 1 — 20 Balance at December 31, 2020 $ 4,635 $ 1,175 $ 5,717 $ 417 $ 11,944 The increase in the provision for credit losses on loans during the year ended December 31, 2020 is due to the Company’s forecast of macroeconomic factors, which decreased during 2020, primarily due to the COVID-19 pandemic. A summary of the activity in the allowance for loan losses from December 31, 2019 to March 31, 2020 is as follows: (In thousands) December 31, 2019 Charge- Offs Recoveries Provision March 31, 2020 Commercial and industrial $ 4,874 $ — $ 7 $ 213 $ 5,094 Real estate Commercial: Mortgage 1,528 — — 24 1,552 Construction 191 — — (41) 150 Faith-based: Mortgage 3,842 — 1 106 3,949 Construction 121 — — 23 144 Total $ 10,556 $ — $ 8 $ 325 $ 10,889

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 7 – Commitments and Contingencies In the normal course of business, the Company is party to activities that contain credit, market and operational risks that are not reflected in whole or in part in the Company’s consolidated financial statements. Such activities include traditional off-balance sheet credit-related financial instruments and commitments under operating leases. These financial instruments include commitments to extend credit, commercial letters of credit and standby letters of credit. The Company’s maximum potential exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit, commercial letters of credit and standby letters of credit is represented by the contractual amounts of those instruments. A release of credit losses of $360,000 was recorded during the quarter ended March 31, 2021 due to lower line of credit usage. An allowance for unfunded commitments of $207,000 and $567,000 had been recorded at March 31, 2021 and December 31, 2020, 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 March 31, 2021, the balance of unused loan commitments, standby and commercial letters of credit were $194,737,000, $11,619,000, and $816,000, 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. The following table summarizes contractual cash obligations of the Company related to time deposits at March 31, 2021: Amount of Commitment Expiration per Period (In thousands) Total Less than 1 Year 1-3 Years 3-5 Years Over 5 Years Time deposits $ 55,536 $ 41,390 $ 14,098 $ 48 $ — The Company and its subsidiaries are involved in various pending legal actions and proceedings in which claims for damages are asserted. Management, after discussion with legal counsel, believes the ultimate resolution of these legal actions and proceedings will not have a material effect upon the Company’s consolidated financial position or results of operations.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 8 – Stock-Based Compensation The Amended and Restated Omnibus Stock and Performance Compensation Plan (the “Omnibus Plan”) permits the issuance of up to 1,500,000 shares of the Company’s common stock in the form of stock options, stock appreciation rights (“SARs”), restricted stock, restricted stock units and performance awards. The Company may issue shares out of treasury stock for these awards. During the three months ended March 31, 2021, 39,686 restricted shares, 52,240 performance-based restricted shares, and no SARs were granted under the Omnibus Plan. Stock-based compensation expense for the three months ended March 31, 2021 and 2020 was $693,000 and $722,000, respectively. -15- Table of Contents Restricted Stock Restricted shares granted to Company employees are amortized to expense over the three-year cliff vesting period. Restricted shares granted to members of the Board of Directors are amortized to expense over a one-year service period, with the exception of those shares granted in lieu of cash payments for retainer fees which are expensed in the period earned. As of March 31, 2021, the total unrecognized compensation expense related to non-vested restricted shares was $2,642,000, and the related weighted-average period over which it is expected to be recognized is approximately 0.98 years. Following is a summary of the activity of the restricted stock: Three Months Ended March 31, 2021 Shares Fair Value Balance at December 31, 2020 136,167 $ 46.78 Granted 39,686 40.63 Vested (21,364) 48.62 Balance at March 31, 2021 154,489 $ 44.91 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, based on target value: Three Months Ended March 31, 2021 Shares Fair Value Balance at December 31, 2020 98,410 $ 50.64 Granted 52,240 40.74 Vested (31,451) 48.63 Balance at March 31, 2021 119,199 $ 46.79 The PBRS that vested during the three months ended March 31, 2021 achieved financial goals of 94.4%, resulting in the issuance of 29,688 shares of common stock. The outstanding PBRS at March 31, 2021 will vest at scheduled vesting dates and the actual number of shares of common stock issued will range from 0% to 150% of the target opportunity based on the actual achievement of financial goals for the respective three-year performance period. SARs There were no SARs granted and no expense recognized during the three months ended March 31, 2021. Following is a summary of the activity of the Company’s SARs program for the three-month period ended March 31, 2021: Shares Weighted- Average Exercise Price Average Remaining Contractual Term Years Aggregate Intrinsic Value (In thousands) Balance at December 31, 2020 144,999 $ 32.99 1.95 $ 1,095 Exercised (20,560) 24.12 ─ ─ Exercisable at March 31, 2021 124,439 $ 34.46 1.92 $ 1,483 There were no non-vested SARs at March 31, 2021.

Defined Pension Plans

Defined Pension Plans	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [Abstract]
Defined Pension Plans	Note 9 – 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. 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 2021 Actual 2020 Service cost – benefits earned during the year $ 963 $ 4,329 Interest cost on projected benefit obligations 3,069 3,908 Expected return on plan assets (6,299) (6,049) Net amortization 360 1,946 Net periodic pension (benefit) cost $ (1,907 ) $ 4,134 Pension costs recorded to expense were $273,000 and $1,029,000 for the three-month periods ended March 31, 2021 and 2020, respectively. Pension costs decreased in 2021 primarily due to the Plan being frozen as of February 28, 2021. The Company made no contribution to the plan during the three-month period ended March 31, 2021 and is evaluating the amount of additional contributions, if any, in the remainder of 2021. 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 2020 and an estimate for 2021: (In thousands) Estimated 2021 Actual 2020 Service cost – benefits earned during the year $ 147 $ 121 Interest cost on projected benefit obligation 291 347 Net amortization 203 112 Net periodic pension cost $ 641 $ 580 Supplemental executive retirement plan costs recorded to expense were $160,000 and $145,000 for the three-month periods ended March 31, 2021 and 2020, respectively.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 10 – Income Taxes The effective tax rate was 17.7% and 18.1% for the three-month periods ended March 31, 2021 and 2020, respectively. The 2021 and 2020 effective tax rate for the three-month period differs from the statutory rate of 21% primarily due to the tax-exempt interest received from municipal bonds.

Investment in Securities

Investment in Securities	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investment in Securities	Note 11 – Investment in Securities Investment securities available-for-sale are recorded at fair value on a recurring basis. The Company’s investment securities available-for-sale are measured at fair value using Level 2 valuations. The market evaluation utilizes several sources which include “observable inputs” rather than “significant unobservable inputs” and therefore fall into the Level 2 category. The amortized cost, gross unrealized gains, gross unrealized losses and fair value of investment securities are summarized as follows: March 31, 2021 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value State and political subdivisions $ 312,479 $ 15,678 $ 174 $ 327,983 U.S. government agencies 99,349 623 711 99,261 Total $ 411,828 $ 16,301 $ 885 $ 427,244 December 31, 2020 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value State and political subdivisions $ 287,059 $ 18,915 $ ─ $ 305,974 U.S. government agencies 50,988 764 ─ 51,752 Total $ 338,047 $ 19,679 $ ─ $ 357,726 The fair values of securities with unrealized losses are as follows: March 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 $ 36,423 $ 174 $ ─ $ ─ $ 36,423 $ 174 U.S. government agencies 60,491 711 ─ ─ 60,491 711 Total $ 96,914 $ 885 $ ─ $ ─ $ 96,914 $ 885 There were 33 securities, or 12%, (0 greater than 12 months) in an unrealized loss position as of March 31, 2021. There were no securities in an unrealized loss position as of December 31, 2020. 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. March 31, 2021 (In thousands) Amortized Cost Fair Value Due in 1 year or less $ 70,415 $ 70,697 Due after 1 year through 5 years 89,351 93,669 Due after 5 years through 10 years 161,771 173,009 Due after 10 years 90,291 89,869 Total $ 411,828 $ 427,244 Proceeds from sales of investment securities classified as available for sale were $2,991,000 and $19,629,000 for the three months ended March 31, 2021 and 2020, respectively. Gross realized gains were $48,000 and $1,069,000 for the three months ended March 31, 2021 and 2020, respectively. There were no securities pledged to secure public deposits or for other purposes at March 31, 2021.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 12 – Fair Value of Financial Instruments Following is a summary of the carrying amounts and fair values of the Company’s financial instruments: March 31, 2021 December 31, 2020 (In thousands) Carrying Amount Fair Value Carrying Amount Fair Value Balance sheet assets: Cash and cash equivalents $ 599,659 $ 599,659 $ 670,528 $ 670,528 Investment securities 427,244 427,244 357,726 357,726 Loans, net 876,854 880,231 879,732 883,461 Accrued interest receivable 6,458 6,458 6,850 6,850 Total $ 1,910,215 $ 1,913,592 $ 1,914,836 $ 1,918,565 Balance sheet liabilities: Deposits $ 1,003,135 $ 1,003,135 $ 1,050,856 $ 1,050,856 Accounts and drafts payable 897,508 897,508 835,386 835,386 Accrued interest payable 58 58 38 38 Total $ 1,900,701 $ 1,900,701 $ 1,886,280 $ 1,886,280 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 Investment in Securities Loans Accrued Interest Receivable Deposits Accounts and Drafts Payable Accrued Interest No financial instruments are measured using Level 3 inputs for the three months ended March 31, 2021 and 2020.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Note 13 – 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. Invoice processing fees Invoice payment fees Bank service fees -19- Table of Contents For the Three Months Ended March 31, (In thousands) 2021 2020 Fee revenue and other income In-scope of FASB ASC 606 Invoice processing fees $ 19,064 $ 19,124 Invoice payment fees 6,152 6,379 Information services payment and processing revenue 25,216 25,503 Bank service fees 494 410 Fee revenue (in-scope of FASB ASC 606) 25,710 25,913 Other income (out-of-scope of FASB ASC 606) 465 1,182 Total fee revenue and other income 26,175 27,095

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	Note 14 – Leases On January 1, 2019, the Company adopted Accounting Standards Update (“ASU”) No. 2016-02 – Leases (ASC Topic 842) A maturity analysis of operating lease liabilities and undiscounted cash flows for the three months ended March 31, 2021 is as follows: (In thousands) March 31, 2021 Lease payments due Less than 1 year $ 1,711 1-2 years 1,558 2-3 years 628 3-4 years 507 4-5 years 517 Over 5 years 1,891 Total undiscounted cash flows 6,812 Discount on cash flows 1,013 Total lease liability $ 5,799 There were no sale and leaseback transactions, leveraged leases, or lease transactions with related parties during the three months ended March 31, 2021. At March 31, 2021, the Company did not have any leases that had not yet commenced.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 15 – Subsequent Events In accordance with FASB ASC 855, Subsequent Events

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Company's Intangible Assets	Details of the Company’s intangible assets are as follows: March 31, 2021 December 31, 2020 (In thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Assets eligible for amortization: Customer lists $ 4,778 $ (4,012) $ 4,778 $ (3,902) Patents 72 (25) 72 (24) Non-compete agreements 332 (332) 332 (332) Software 2,844 (824) 2,844 (731) Trade Name 190 (15) 190 (13) Other 500 (300) 500 (291) Unamortized intangible assets: Goodwill 1 14,489 (227) 14,489 (227) Total intangible assets $ 23,205 $ (5,735) $ 23,205 $ (5,520) 1 Amortization through December 31, 2001 prior to adoption of FASB ASC 350.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of 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. Anti-dilutive shares are those SARs with prices in excess of the current market value. The calculations of basic and diluted earnings per share are as follows: Three Months Ended March 31, (In thousands except share and per share data) 2021 2020 Basic Net income $ 7,071 $ 7,545 Weighted-average common shares outstanding 14,312,260 14,422,813 Basic earnings per share $ .49 $ .52 Diluted Net income $ 7,071 $ 7,545 Weighted-average common shares outstanding 14,312,260 14,422,813 Effect of dilutive restricted stock and stock appreciation rights 220,809 207,700 Weighted-average common shares outstanding assuming dilution 14,533,069 14,630,513 Diluted earnings per share $ .49 $ .52

Industry Segment Information (T

Industry Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Summary of Company's Operations in Each Segment	Summarized information about the Company’s operations in each industry segment is as follows: (In thousands) Information Services Banking Services Corporate, Eliminations and Other Total Three Months Ended March 31, 2021 Fee income $ 24,977 $ 638 $ 560 $ 26,175 Interest income* 5,509 5,751 (122) 11,138 Interest expense — 331 — 331 Intersegment income (expense) — 623 (623) — Tax-equivalized pre-tax income* 6,013 2,762 282 9,057 Goodwill 12,433 1,829 — 14,262 Other intangible assets, net 634 2,574 — 3,208 Total Assets 1,023,196 1,263,669 (70,292) 2,216,573 Funding Sources 837,852 849,177 — 1,687,029 Three Months Ended March 31, 2020 Fee income $ 25,440 $ 615 $ 1,040 $ 27,095 Interest income* 4,707 7,284 831 12,822 Interest expense — 965 — 965 Intersegment income (expense) — 525 (525) — Tax-equivalized pre-tax income* 5,123 2,703 1,872 9,698 Goodwill 12,433 1,829 — 14,262 Other intangible assets, net 1,040 3,026 — 4,066 Total Assets 833,774 926,445 (28,237) 1,731,982 Funding Sources 677,829 611,135 — 1,288,964 * Presented on a tax-equivalent basis assuming a tax rate of 21%. The tax-equivalent adjustment was approximately $462,000 and $484,000 for the three months ended March 31, 2021 and 2020, respectively.

Loans by Type (Tables)

Loans by Type (Tables)	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Summary of Loan Categories	A summary of loan categories is as follows: (In thousands) March 31, 2021 December 31, 2020 Commercial and industrial $ 302,747 $ 298,984 Real estate: Commercial: Mortgage 96,630 100,419 Construction 23,766 25,090 Faith-based: Mortgage 331,153 333,661 Construction 20,800 23,818 Paycheck Protection Program (“PPP”) 113,474 109,704 Other 5 — Total loans $ 888,575 $ 891,676
Schedule of the Aging Loans by Loan Categories	The following table presents the aging of loans by loan categories at March 31, 2021 and December 31, 2020: Performing Nonperforming (In thousands) Current 30-59 Days 60-89 Days 90 Days and Over Non- accrual Total Loans March 31, 2021 Commercial and industrial $ 302,747 $ — $ — $ — $ — $ 302,747 Real estate Commercial: Mortgage 96,630 — — — — 96,630 Construction 23,766 — — — — 23,766 Faith-based: Mortgage 331,153 — — — — 331,153 Construction 20,800 — — — — 20,800 PPP 113,474 — — — — 113,474 Other 5 — — — — 5 Total $ 888,575 $ — $ — $ — $ — $ 888,575 December 31, 2020 Commercial and industrial $ 298,984 $ — $ — $ — $ — $ 298,984 Real estate Commercial: Mortgage 100,419 — — — — 100,419 Construction 25,090 — — — — 25,090 Faith-based: Mortgage 333,661 — — — — 333,661 Construction 23,818 — — — — 23,818 PPP 109,704 — — — — 109,704 Total $ 891,676 $ — $ — $ — $ — $ 891,676
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 March 31, 2021 and December 31, 2020: (In thousands) Loans Subject to Normal Monitoring 1 Performing Loans Subject to Special Monitoring 2 Nonperforming Loans Subject to Special Monitoring 2 Total Loans March 31, 2021 Commercial and industrial $ 289,698 $ 13,049 $ — $ 302,747 Real estate Commercial: Mortgage 95,305 1,325 — 96,630 Construction 23,766 — — 23,766 Faith-based: Mortgage 328,105 3,048 — 331,153 Construction 20,800 — — 20,800 PPP 113,474 — — 113,474 Other 5 — — 5 Total $ 871,153 $ 17,422 $ — $ 888,575 December 31, 2020 Commercial and industrial $ 284,882 $ 14,102 $ — $ 298,984 Real estate Commercial: Mortgage 99,044 1,375 — 100,419 Construction 25,090 — — 25,090 Faith-based: Mortgage 330,554 3,107 — 333,661 Construction 23,818 — — 23,818 PPP 109,704 — — 109,704 Total $ 873,092 $ 18,584 $ — $ 891,676 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 Category of Loans Considered as Troubled Debt Restructuring	The recorded investment by category for loans considered as troubled debt restructuring during the year ended December 31, 2020 is as follows: (In thousands) Number of Loans Pre-Modification Outstanding Balance Post-Modification Outstanding Balance Commercial and industrial 1 $ 8,773 $ 8,773 Faith-based real estate 1 1,029 1,029 Total 2 $ 9,802 $ 9,802
Summary of ACL by Category	A summary of the activity in allowance for credit losses (“ACL”) by category for the period ended March 31, 2021 and December 31, 2020 is as follows: (In thousands) C&I CRE Faith-based CRE Construction Total Allowance for credit losses on loans: Balance at December 31, 2020 $ 4,635 $ 1,175 $ 5,717 $ 417 $ 11,944 Charge Offs — — — — — (Release of) provision for credit losses 54 (65) (200) (29) (240) Recoveries 2 — 15 — 17 Balance at March 31, 2021 $ 4,691 $ 1,110 $ 5,532 $ 388 $ 11,721 The decrease in the provision for credit losses on loans during the quarter ended March 31, 2021 is due to the Company’s forecast of macroeconomic factors, which improved during the first quarter 2021. (In thousands) C&I CRE Faith-based CRE Construction Total Allowance for credit losses on loans: Balance at December 31, 2019 $ 4,874 $ 1,528 $ 3,842 $ 312 $ 10,556 Cumulative effect of accounting change (ASU 2016-13) (526) (401) 1,636 14 723 Balance at January 1, 2020 4,348 1,127 5,478 326 11,279 Provision for credit losses 268 48 238 91 645 Recoveries 19 — 1 — 20 Balance at December 31, 2020 $ 4,635 $ 1,175 $ 5,717 $ 417 $ 11,944
Summary of the Allowance for Loan Losses	A summary of the activity in the allowance for loan losses from December 31, 2019 to March 31, 2020 is as follows: (In thousands) December 31, 2019 Charge- Offs Recoveries Provision March 31, 2020 Commercial and industrial $ 4,874 $ — $ 7 $ 213 $ 5,094 Real estate Commercial: Mortgage 1,528 — — 24 1,552 Construction 191 — — (41) 150 Faith-based: Mortgage 3,842 — 1 106 3,949 Construction 121 — — 23 144 Total $ 10,556 $ — $ 8 $ 325 $ 10,889

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Summary of Contractual Cash Obligation of Operating Lease Commitments	The following table summarizes contractual cash obligations of the Company related to time deposits at March 31, 2021: Amount of Commitment Expiration per Period (In thousands) Total Less than 1 Year 1-3 Years 3-5 Years Over 5 Years Time deposits $ 55,536 $ 41,390 $ 14,098 $ 48 $ —

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Summary of Restricted Stock Activity	Following is a summary of the activity of the restricted stock: Three Months Ended March 31, 2021 Shares Fair Value Balance at December 31, 2020 136,167 $ 46.78 Granted 39,686 40.63 Vested (21,364) 48.62 Balance at March 31, 2021 154,489 $ 44.91
Summary of PBRS Activity	Following is a summary of the activity of the PBRS, based on target value: Three Months Ended March 31, 2021 Shares Fair Value Balance at December 31, 2020 98,410 $ 50.64 Granted 52,240 40.74 Vested (31,451) 48.63 Balance at March 31, 2021 119,199 $ 46.79
Summary of SARs Activity	There were no SARs granted and no expense recognized during the three months ended March 31, 2021. Following is a summary of the activity of the Company’s SARs program for the three-month period ended March 31, 2021: Shares Weighted- Average Exercise Price Average Remaining Contractual Term Years Aggregate Intrinsic Value (In thousands) Balance at December 31, 2020 144,999 $ 32.99 1.95 $ 1,095 Exercised (20,560) 24.12 ─ ─ Exercisable at March 31, 2021 124,439 $ 34.46 1.92 $ 1,483

Defined Pension Plans (Tables)

Defined Pension Plans (Tables)	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [Abstract]
Schedule of Net Periodic Pension Costs	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. 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 2021 Actual 2020 Service cost – benefits earned during the year $ 963 $ 4,329 Interest cost on projected benefit obligations 3,069 3,908 Expected return on plan assets (6,299) (6,049) Net amortization 360 1,946 Net periodic pension (benefit) cost $ (1,907 ) $ 4,134
Schedule of Unfunded Supplemental Executive Retirement Plan	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 2020 and an estimate for 2021: (In thousands) Estimated 2021 Actual 2020 Service cost – benefits earned during the year $ 147 $ 121 Interest cost on projected benefit obligation 291 347 Net amortization 203 112 Net periodic pension cost $ 641 $ 580

Investment in Securities (Table

Investment in Securities (Tables)	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of Investment 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: March 31, 2021 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value State and political subdivisions $ 312,479 $ 15,678 $ 174 $ 327,983 U.S. government agencies 99,349 623 711 99,261 Total $ 411,828 $ 16,301 $ 885 $ 427,244 December 31, 2020 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value State and political subdivisions $ 287,059 $ 18,915 $ ─ $ 305,974 U.S. government agencies 50,988 764 ─ 51,752 Total $ 338,047 $ 19,679 $ ─ $ 357,726
Schedule of the Fair Value of Securities with Unrealized Losses	The fair values of securities with unrealized losses are as follows: March 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 $ 36,423 $ 174 $ ─ $ ─ $ 36,423 $ 174 U.S. government agencies 60,491 711 ─ ─ 60,491 711 Total $ 96,914 $ 885 $ ─ $ ─ $ 96,914 $ 885
Schedule of Amortized Cost and Fair Value of Investment	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. March 31, 2021 (In thousands) Amortized Cost Fair Value Due in 1 year or less $ 70,415 $ 70,697 Due after 1 year through 5 years 89,351 93,669 Due after 5 years through 10 years 161,771 173,009 Due after 10 years 90,291 89,869 Total $ 411,828 $ 427,244

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Summary of the Fair Value of Financial Instruments	Following is a summary of the carrying amounts and fair values of the Company’s financial instruments: March 31, 2021 December 31, 2020 (In thousands) Carrying Amount Fair Value Carrying Amount Fair Value Balance sheet assets: Cash and cash equivalents $ 599,659 $ 599,659 $ 670,528 $ 670,528 Investment securities 427,244 427,244 357,726 357,726 Loans, net 876,854 880,231 879,732 883,461 Accrued interest receivable 6,458 6,458 6,850 6,850 Total $ 1,910,215 $ 1,913,592 $ 1,914,836 $ 1,918,565 Balance sheet liabilities: Deposits $ 1,003,135 $ 1,003,135 $ 1,050,856 $ 1,050,856 Accounts and drafts payable 897,508 897,508 835,386 835,386 Accrued interest payable 58 58 38 38 Total $ 1,900,701 $ 1,900,701 $ 1,886,280 $ 1,886,280

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Revenue from Contracts with Customers	-19- Table of Contents For the Three Months Ended March 31, (In thousands) 2021 2020 Fee revenue and other income In-scope of FASB ASC 606 Invoice processing fees $ 19,064 $ 19,124 Invoice payment fees 6,152 6,379 Information services payment and processing revenue 25,216 25,503 Bank service fees 494 410 Fee revenue (in-scope of FASB ASC 606) 25,710 25,913 Other income (out-of-scope of FASB ASC 606) 465 1,182 Total fee revenue and other income 26,175 27,095

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Schedule of Operating Lease Liabilities	A maturity analysis of operating lease liabilities and undiscounted cash flows for the three months ended March 31, 2021 is as follows: (In thousands) March 31, 2021 Lease payments due Less than 1 year $ 1,711 1-2 years 1,558 2-3 years 628 3-4 years 507 4-5 years 517 Over 5 years 1,891 Total undiscounted cash flows 6,812 Discount on cash flows 1,013 Total lease liability $ 5,799

Intangible Assets (Narrative) (

Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 215	$ 215
2021	859
2022	540
2023	540
2024	498
2025	$ 490
Customer Lists [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period	7 years
Customer Lists [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period	10 years
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period	18 years
Non-compete Agreements [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period	2 years
Non-compete Agreements [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period	5 years
Software [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period	3 years
Software [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period	7 years
Trade Name [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period	20 years
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period	15 years

Intangible Assets (Schedule of

Intangible Assets (Schedule of Company's Intangible Assets) (Details) - USD ($) $ in Thousands		Mar. 31, 2021	Dec. 31, 2020
Unamortized intangible assets:
Goodwill, Gross Carrying Amount	[1]	$ 14,489	$ 14,489
Goodwill, Accumulated Amortization	[1]	(227)	(227)
Total intangible assets		23,205	23,205
Accumulated Amortization		(5,735)	(5,520)
Customer Lists [Member]
Assets eligible for amortization:
Gross Carrying Amount		4,778	4,778
Accumulated Amortization		(4,012)	(3,902)
Patents [Member]
Assets eligible for amortization:
Gross Carrying Amount		72	72
Accumulated Amortization		(25)	(24)
Non-compete Agreements [Member]
Assets eligible for amortization:
Gross Carrying Amount		332	332
Accumulated Amortization		(332)	(332)
Software [Member]
Assets eligible for amortization:
Gross Carrying Amount		2,844	2,844
Accumulated Amortization		(824)	(731)
Trade Name [Member]
Assets eligible for amortization:
Gross Carrying Amount		190	190
Accumulated Amortization		(15)	(13)
Other [Member]
Assets eligible for amortization:
Gross Carrying Amount		500	500
Accumulated Amortization		$ (300)	$ (291)
[1]	Amortization through December 31, 2001 prior to adoption of FASB ASC 350.

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Basic:
Net income	$ 7,071	$ 7,545
Weighted-average common shares outstanding	14,312,260	14,422,813
Basic earnings per share	$ 0.49	$ 0.52
Diluted:
Net Income	$ 7,071	$ 7,545
Weighted-average common shares outstanding	14,312,260	14,422,813
Effect of dilutive restricted stock and stock appreciation rights	220,809	207,700
Weighted-average common shares outstanding assuming dilution	14,533,069	14,630,513
Diluted earnings per share	$ 0.49	$ 0.52

Stock Repurchases (Details)

Stock Repurchases (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Oct. 30, 2020
Equity [Abstract]
Number of shares authorized to be repurchased	500,000		500,000
Shares repurchased	31,256	128,779
Remaining number of shares available for repurchase	434,622

Industry Segment Information (D

Industry Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Fee revenue and other income:
Fee income		$ 26,175	$ 27,095
Interest income	[1]	11,138	12,822
Interest expense		331	965
Intersegment income (expense)
Tax-equivalized pre-tax income	[1]	9,057	9,698
Goodwill		14,262	14,262	$ 14,262
Other intangible assets, net		3,208	4,066
Total assets		2,216,573	1,731,982	$ 2,203,235
Funding Sources		$ 1,687,029	$ 1,288,964
Tax-equivalent basis tax rate		21.00%	21.00%
Tax-equivalent adjustment		$ 462	$ 484
Information Services [Member]
Fee revenue and other income:
Fee income		24,977	25,440
Interest income	[1]	5,509	4,707
Interest expense
Intersegment income (expense)
Tax-equivalized pre-tax income	[1]	6,013	5,123
Goodwill		12,433	12,433
Other intangible assets, net		634	1,040
Total assets		1,023,196	833,774
Funding Sources		837,852	677,829
Banking Services [Member]
Fee revenue and other income:
Fee income		638	615
Interest income	[1]	5,751	7,284
Interest expense		331	965
Intersegment income (expense)		623	525
Tax-equivalized pre-tax income	[1]	2,762	2,703
Goodwill		1,829	1,829
Other intangible assets, net		2,574	3,026
Total assets		1,263,669	926,445
Funding Sources		849,177	611,135
Corporate, Eliminations and Other [Member]
Fee revenue and other income:
Fee income		560	1,040
Interest income	[1]	(122)	831
Interest expense
Intersegment income (expense)		(623)	(525)
Tax-equivalized pre-tax income	[1]	282	1,872
Goodwill
Other intangible assets, net
Total assets		(70,292)	(28,237)
Funding Sources
[1]	Presented on a tax-equivalent basis assuming a tax rate of 21%. The tax-equivalent adjustment was approximately $462,000 and $484,000 for the three months ended March 31, 2021 and 2020, respectively.

Loans by Type (Summary of Loan

Loans by Type (Summary of Loan Categories) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Participating Mortgage Loans [Line Items]
Loans	$ 888,575	$ 891,676
Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Loans	302,747	298,984
Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Loans	96,630	100,419
Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Loans	23,766	25,090
Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Loans	331,153	333,661
Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Loans	20,800	23,818
Paycheck protection program ("PPP") [Member]
Participating Mortgage Loans [Line Items]
Loans	113,474	109,704
Other [Member]
Participating Mortgage Loans [Line Items]
Loans	$ 5

Loans by Type (Schedule of the

Loans by Type (Schedule of the Aging of Loans by Loan Categories) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	888,575	891,676
Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	302,747	298,984
Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	96,630	100,419
Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	23,766	25,090
Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	331,153	333,661
Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	20,800	23,818
Paycheck protection program ("PPP") [Member]
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	113,474	109,704
Other Financing Receivable [Member]
Participating Mortgage Loans [Line Items]
Nonaccrual
Loans	5
Current [Member]
Participating Mortgage Loans [Line Items]
Gross	888,575	891,676
Current [Member] | Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Gross	302,747	298,984
Current [Member] | Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Gross	96,630	100,419
Current [Member] | Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Gross	23,766	25,090
Current [Member] | Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Gross	331,153	333,661
Current [Member] | Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Gross	20,800	23,818
Current [Member] | Other Financing Receivable [Member]
Participating Mortgage Loans [Line Items]
Gross	5
30 to 59 Days Past Due [Member]
Participating Mortgage Loans [Line Items]
Gross
30 to 59 Days Past Due [Member] | Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Gross
30 to 59 Days Past Due [Member] | Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Gross
30 to 59 Days Past Due [Member] | Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Gross
30 to 59 Days Past Due [Member] | Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Gross
30 to 59 Days Past Due [Member] | Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Gross
30 to 59 Days Past Due [Member] | Paycheck protection program ("PPP") [Member]
Participating Mortgage Loans [Line Items]
Gross
30 to 59 Days Past Due [Member] | Other Financing Receivable [Member]
Participating Mortgage Loans [Line Items]
Gross
60 to 89 Days Past Due [Member]
Participating Mortgage Loans [Line Items]
Gross
60 to 89 Days Past Due [Member] | Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Gross
60 to 89 Days Past Due [Member] | Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Gross
60 to 89 Days Past Due [Member] | Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Gross
60 to 89 Days Past Due [Member] | Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Gross
60 to 89 Days Past Due [Member] | Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Gross
60 to 89 Days Past Due [Member] | Paycheck protection program ("PPP") [Member]
Participating Mortgage Loans [Line Items]
Gross
60 to 89 Days Past Due [Member] | Other Financing Receivable [Member]
Participating Mortgage Loans [Line Items]
Gross
90 Days and Over [Member]
Participating Mortgage Loans [Line Items]
Gross
90 Days and Over [Member] | Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Gross
90 Days and Over [Member] | Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Gross
90 Days and Over [Member] | Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Gross
90 Days and Over [Member] | Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Gross
90 Days and Over [Member] | Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Gross
90 Days and Over [Member] | Paycheck protection program ("PPP") [Member]
Participating Mortgage Loans [Line Items]
Gross
90 Days and Over [Member] | Other Financing Receivable [Member]
Participating Mortgage Loans [Line Items]
Gross
Current [Member] | Paycheck protection program ("PPP") [Member]
Participating Mortgage Loans [Line Items]
Gross	$ 113,474	$ 109,704

Loans by Type (Schedule of th_2

Loans by Type (Schedule of the Credit Exposure of the Loan Portfolio) (Details) - USD ($) $ in Thousands		Mar. 31, 2021	Dec. 31, 2020
Participating Mortgage Loans [Line Items]
Loans		$ 888,575	$ 891,676
Loans Subject To Normal Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[1]	871,153	873,092
Performing Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]	17,422	18,584
Nonperforming Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]
Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Loans		302,747	298,984
Commercial and Industrial [Member] | Loans Subject To Normal Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[1]	289,698	284,882
Commercial and Industrial [Member] | Performing Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]	13,049	14,102
Commercial and Industrial [Member] | Nonperforming Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]
Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Loans		96,630	100,419
Real Estate Commercial Mortgage [Member] | Loans Subject To Normal Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[1]	95,305	99,044
Real Estate Commercial Mortgage [Member] | Performing Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]	1,325	1,375
Real Estate Commercial Mortgage [Member] | Nonperforming Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]
Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Loans		23,766	25,090
Real Estate Commercial Construction [Member] | Loans Subject To Normal Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[1]	23,766	25,090
Real Estate Commercial Construction [Member] | Performing Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]
Real Estate Commercial Construction [Member] | Nonperforming Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]
Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Loans		331,153	333,661
Real Estate Faith-based Mortgage [Member] | Loans Subject To Normal Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[1]	328,105	330,554
Real Estate Faith-based Mortgage [Member] | Performing Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]	3,048	3,107
Real Estate Faith-based Mortgage [Member] | Nonperforming Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]
Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Loans		20,800	23,818
Real Estate Faith-based Construction [Member] | Loans Subject To Normal Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[1]	20,800	23,818
Real Estate Faith-based Construction [Member] | Performing Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]
Real Estate Faith-based Construction [Member] | Nonperforming Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]
Paycheck protection program ("PPP") [Member]
Participating Mortgage Loans [Line Items]
Loans		113,474	109,704
Paycheck protection program ("PPP") [Member] | Loans Subject To Normal Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[1]	113,474	109,704
Paycheck protection program ("PPP") [Member] | Performing Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]
Paycheck protection program ("PPP") [Member] | Nonperforming Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]
Other Financing Receivable [Member]
Participating Mortgage Loans [Line Items]
Loans		5
Other Financing Receivable [Member] | Loans Subject To Normal Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[1]	5
Other Financing Receivable [Member] | Performing Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]
Other Financing Receivable [Member] | Nonperforming Loans Subject To Special Monitoring [Member]
Participating Mortgage Loans [Line Items]
Loans	[2]
[1]	Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk, who have the apparent ability to satisfy their loan obligations.
[2]	Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention.

Loans by Type (Summary of Categ

Loans by Type (Summary of Category of Loans Considered as Troubled Debt Restructuring) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Loans	2
Pre-Modification Outstanding Balance	$ 9,802
Post-Modification Outstanding Balance	$ 9,802
Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Loans	1
Pre-Modification Outstanding Balance	$ 8,773
Post-Modification Outstanding Balance	$ 8,773
Faith-Based Real Estate [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Loans	1
Pre-Modification Outstanding Balance	$ 1,029
Post-Modification Outstanding Balance	$ 1,029

Loans by Type (Summary of ACL b

Loans by Type (Summary of ACL by Category) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	$ 11,944	$ 11,279	$ 11,279	$ 10,556
Cumulative effect of accounting change (ASU 2016-13)				723
Charge-Offs
Provision for credit losses	(240)		645
Recoveries	17		20
Ending Balance	11,721		11,944	11,279
C&I [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	4,635	4,348	4,348	4,874
Cumulative effect of accounting change (ASU 2016-13)				(526)
Charge-Offs
Provision for credit losses	54		268
Recoveries	2		19
Ending Balance	4,691		4,635	4,348
CRE [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	1,175	1,127	1,127	1,528
Cumulative effect of accounting change (ASU 2016-13)				(401)
Charge-Offs
Provision for credit losses	(65)		48
Recoveries
Ending Balance	1,110		1,175	1,127
Faith-based CRE [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	5,717	5,478	5,478	3,842
Cumulative effect of accounting change (ASU 2016-13)				1,636
Charge-Offs
Provision for credit losses	(200)		238
Recoveries	15		1
Ending Balance	5,532		5,717	5,478
Construction [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	417	$ 326	326	312
Cumulative effect of accounting change (ASU 2016-13)				14
Charge-Offs
Provision for credit losses	(29)		91
Recoveries
Ending Balance	$ 388		$ 417	$ 326

Loans by Type (Summary of Allow

Loans by Type (Summary of Allowance for Loan Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Participating Mortgage Loans [Line Items]
Beginning Balance	$ 11,944	$ 10,556
Charge-Offs
Recoveries		8
Provision		325
Ending Balance	$ 11,721	10,889
Commercial and Industrial [Member]
Participating Mortgage Loans [Line Items]
Beginning Balance		4,874
Charge-Offs
Recoveries		7
Provision		213
Ending Balance		5,094
Real Estate Commercial Mortgage [Member]
Participating Mortgage Loans [Line Items]
Beginning Balance		1,528
Charge-Offs
Recoveries
Provision		24
Ending Balance		1,552
Real Estate Commercial Construction [Member]
Participating Mortgage Loans [Line Items]
Beginning Balance		191
Charge-Offs
Recoveries
Provision		(41)
Ending Balance		150
Real Estate Faith-based Mortgage [Member]
Participating Mortgage Loans [Line Items]
Beginning Balance		3,842
Charge-Offs
Recoveries		1
Provision		106
Ending Balance		3,949
Real Estate Faith-based Construction [Member]
Participating Mortgage Loans [Line Items]
Beginning Balance		121
Charge-Offs
Recoveries
Provision		23
Ending Balance		$ 144

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Credit losses released	$ 360,000
Allowance for unfunded commitments	207,000	$ 567,000
Unused loan commitments	194,737,000
Standby letters of credit	11,619,000
Commercial letters of credit	$ 816,000

Commitments and Contingencies_3

Commitments and Contingencies (Summary of Company's Contractual Cash Obligations) (Details) $ in Thousands	Mar. 31, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
Time Deposits, Less than 1 Year	$ 41,390
Time Deposits, 1 to 3 Years	14,098
Time Deposits, 3 to 5 Years	48
Time Deposits, over 5 Years
Time Deposits, Total	$ 55,536

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity Incentive Plan, shares authorized	1,500,000
Stock-based compensation expense	$ 693	$ 722
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 2,642
Total unrecognized compensation expense, weighted average period	11 months 23 days
Vesting period	3 years
Granted, Shares	39,686
Performance-based restricted shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Granted, Shares	52,240
Performance-based restricted shares [Member] | March 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Shares	29,688
Percentage of target opportunity for awards to vest	94.40%
Expiry period	3 years
Performance-based restricted shares [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target opportunity for awards to vest	0.00%
Performance-based restricted shares [Member] | Minimum [Member] | March 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target opportunity for awards to vest	0.00%
Performance-based restricted shares [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target opportunity for awards to vest	150.00%
Performance-based restricted shares [Member] | Maximum [Member] | March 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target opportunity for awards to vest	150.00%

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Restricted Stock Activity) (Details) - Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Shares
Beginning balance | shares	136,167
Granted | shares	39,686
Vested | shares	(21,364)
Ending balance | shares	154,489
Fair Value
Beginning balance | $ / shares	$ 46.78
Granted | $ / shares	40.63
Vested | $ / shares	48.62
Ending balance | $ / shares	$ 44.91

Stock-Based Compensation (Sum_2

Stock-Based Compensation (Summary of PBRS Activity) (Details) - Performance-Based Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Shares
Beginning balance | shares	98,410
Granted | shares	52,240
Vested | shares	(31,451)
Ending balance | shares	119,199
Fair Value
Beginning balance | $ / shares	$ 50.64
Granted | $ / shares	40.74
Vested | $ / shares	48.63
Ending balance | $ / shares	$ 46.79

Stock-Based Compensation (Sum_3

Stock-Based Compensation (Summary of Company's SARs Activity) (Details) - SARs [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance | shares	144,999
Exercised | shares	(20,560)
Exercisable | shares	124,439
Beginning balance, Weighted-Average Exercise Price | $ / shares	$ 32.99
Exercised, Weighted-Average Exercise Price | $ / shares	24.12
Exercisable, Weighted-Average Exercise Price | $ / shares	$ 34.46
Beginning balance, Average Remaining Contractual Term Years	1 year 11 months 12 days
Exercisable, Average Remaining Contractual Term Years	1 year 11 months 1 day
Beginning balance, Aggregate Intrinsic Value | $	$ 1,095
Exercisable, Aggregate Intrinsic Value | $	$ 1,483

Defined Pension Plans (Narrativ

Defined Pension Plans (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Pension period	30 years
Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension costs	$ 273	$ 1,029
Unfunded Supplemental Executive Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension costs	$ 160	$ 145

Defined Pension Plans (Schedule

Defined Pension Plans (Schedule of Net Periodic Pension Costs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	$ 963	$ 4,329
Interest cost on projected benefit obligations	3,069	3,908
Expected return on plan assets	(6,299)	(6,049)
Net amortization	360	1,946
Net periodic pension (benefit) cost	(1,907)	4,134
Unfunded Supplemental Executive Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	147	121
Interest cost on projected benefit obligations	291	347
Net amortization	203	112
Net periodic pension (benefit) cost	$ 641	$ 580

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	17.70%	18.10%
Statutory federal tax rate	21.00%	21.00%

Investment in Securities (Narra

Investment in Securities (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)
Investments, Debt and Equity Securities [Abstract]
Number of securities that had an unrealized loss	33
Number of securities that had an unrealized loss, greater than 12 months	0
Percentage of total securities	12.00%
Proceeds from sales of securities available-for-sale	$ 2,991	$ 19,629
Gross realized gains	$ 48	$ 1,069

Investment in Securities (Sched

Investment in Securities (Schedule of Investment Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Marketable Securities [Line Items]
Fair Value	$ 427,244	$ 357,726
Gross Unrealized Gains	16,301	19,679
Gross Unrealized Losses	885
Amortized Cost	411,828	338,047
State and political subdivisions [Member]
Marketable Securities [Line Items]
Fair Value	327,983	305,974
Gross Unrealized Gains	15,678	18,915
Gross Unrealized Losses	174
Amortized Cost	312,479	287,059
U.S. government agencies [Member]
Marketable Securities [Line Items]
Fair Value	99,261	51,752
Gross Unrealized Gains	623	764
Gross Unrealized Losses	711
Amortized Cost	$ 99,349	$ 50,988

Investment in Securities (Sch_2

Investment in Securities (Schedule of the Fair Values of Securities with Unrealized Losses) (Details) $ in Thousands	Mar. 31, 2021USD ($)
Marketable Securities [Line Items]
Estimated fair value, less than 12 months	$ 96,914
Estimated fair value, 12 months or more
Estimated fair value, total	96,914
Unrealized losses, less than 12 months	885
Unrealized losses, 12 months or more
Unrealized losses, total	885
State and political subdivisions [Member]
Marketable Securities [Line Items]
Estimated fair value, less than 12 months	36,423
Estimated fair value, 12 months or more
Estimated fair value, total	36,423
Unrealized losses, less than 12 months	174
Unrealized losses, 12 months or more
Unrealized losses, total	174
U.S. government agencies [Member]
Marketable Securities [Line Items]
Estimated fair value, less than 12 months	60,491
Estimated fair value, 12 months or more
Estimated fair value, total	60,491
Unrealized losses, less than 12 months	711
Unrealized losses, 12 months or more
Unrealized losses, total	$ 711

Investment in Securities (Sch_3

Investment in Securities (Schedule of Amortized Cost and Fair Value of Investment Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Amortized Cost, Due in 1 year or less	$ 70,415
Amortized Cost, Due after 1 year through 5 years	89,351
Amortized Cost, Due after 5 years through 10 years	161,771
Amortized Cost, Due after 10 years	90,291
Amortized Cost, Total	411,828
Fair Value, Due in 1 year or less	70,697
Fair Value, Due after 1 year through 5 years	93,669
Fair Value, Due after 5 years through 10 years	173,009
Fair Value, Due after 10 years	89,869
Fair Value, Total	$ 427,244	$ 357,726

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Cash and cash equivalents, Carrying Amount	$ 599,659	$ 670,528	$ 163,194	$ 203,954
Investment securities, Carrying Amount	427,244	357,726
Loans, net, Carrying Amount	876,854	879,732
Accrued interest receivable, Carrying Amount	6,458	6,850
Assets, Carrying Amount	1,910,215	1,914,836
Cash and cash equivalents, Fair Value	599,659	670,528
Investment securities, Fair Value	427,244	357,726
Loans, net, Fair Value	880,231	883,461
Accrued interest receivable, Fair Value	6,458	6,850
Assets, Fair Value	1,913,592	1,918,565
Deposits, Carrying Amount	1,003,135	1,050,856
Accounts and drafts payable, Carrying Amount	897,508	835,386
Accrued interest payable, Carrying Amount	58	38
Liabilities, Carrying Amount	1,900,701	1,886,280
Deposits, Fair Value	1,003,135	1,050,856
Accounts and drafts payable, Fair Value	897,508	835,386
Accrued interest payable, Fair Value	58	38
Liabilities, Fair Value	$ 1,900,701	$ 1,886,280

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Schedule of Revenue from Contracts with Customers) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Fee revenue and other income:
In-scope of FASB ASC 606 - Invoice processing fees	$ 19,064	$ 19,124
In-scope of FASB ASC 606 - Invoice payment fees	6,152	6,379
Information services payment and processing revenue	25,216	25,503
Bank service fees	494	410
Fee revenue (in-scope of FASB ASC 606)	25,710	25,913
Other income (out-of-scope of FASB ASC 606)	465	1,182
Total fee revenue and other income	$ 26,175	$ 27,095

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Lease liabilities	$ 5,799	$ 7,146
Right-of-use assets	5,255	$ 6,367
Operating lease cost	420
Short-term lease cost	$ 30
Weighted average remaining lease term	6 years 2 months 12 days
Weighted average discount rate	5.50%

Leases (Schedule of operating l

Leases (Schedule of operating lease liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Lease payments due
Less than 1 year	$ 1,711
1-2 years	1,558
2-3 years	628
3-4 years	507
4-5 years	517
Over 5 years	1,891
Total undiscounted cash flows	6,812
Discount on cash flows	1,013
Total lease liability	$ 5,799	$ 7,146