Cass Information Systems (CASS) 10-Q 9 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 27, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	000-20827
Entity Registrant Name	CASS INFORMATION SYSTEMS, INC.
Entity Incorporation, State or Country Code	MO
Entity Tax Identification Number	43-1265338
Entity Address, Address Line One	12444 Powerscourt Drive
Entity Address, Address Line Two	Suite 550
Entity Address, City or Town	St. Louis
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	63131
City Area Code	314
Local Phone Number	506-5500
Title of 12(b) Security	Common stock, par value $.50
Trading Symbol	CASS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,716,492
Entity Central Index Key	0000708781
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 28,118	$ 20,995
Short-term investments	182,360	179,947
Cash and cash equivalents	210,478	200,942
Securities available-for-sale, at fair value	703,037	754,468
Loans	1,070,373	1,082,906
Less: Allowance for credit losses	13,254	13,539
Loans, net	1,057,119	1,069,367
Payments in advance of funding	259,819	293,775
Premises and equipment, net	20,967	19,958
Investment in bank-owned life insurance	48,278	47,998
Goodwill	17,309	17,309
Other intangible assets, net	3,931	4,126
Receivables from Customers	37,288	95,779
Other assets	69,163	69,301
Total assets	2,427,389	2,573,023
Deposits:
Noninterest-bearing	585,323	642,757
Interest-bearing	530,827	614,460
Total deposits	1,116,150	1,257,217
Accounts and drafts payable	1,051,435	1,067,600
Other liabilities	42,304	41,881
Total liabilities	2,209,889	2,366,698
Shareholders’ Equity:
Preferred stock, par value $.50 per share; 2,000,000 shares authorized and no shares issued	0	0
Common Stock, Value, Outstanding	7,753	7,753
Additional paid-in capital	206,614	207,422
Retained earnings	134,822	131,682
Common shares in treasury, at cost (1,793,679 shares at March 31, 2023 and 1,836,116 shares at December 31, 2022)	79,419	81,211
Accumulated other comprehensive loss	(52,270)	(59,321)
Total shareholders’ equity	217,500	206,325
Total liabilities and shareholders’ equity	$ 2,427,389	$ 2,573,023

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par or stated value per share (in dollars per share)	$ 0.50	$ 0.50
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par or stated value per share (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares, issued (in shares)	15,505,772	15,505,772
Common stock, shares, outstanding (in shares)	13,712,093	13,669,656
Treasury stock shares (in shares)	1,793,679	1,836,116

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fee Revenue and Other Income:
Fee revenues	$ 31,036	$ 29,997
Other	1,335	862
Total fee revenue and other income	32,107	30,430
Interest Income:
Interest and fees on loans	12,235	8,777
Interest and dividends on securities:
Taxable	3,586	1,456
Exempt from federal income taxes	1,208	1,677
Interest on federal funds sold and other short-term investments	3,113	216
Total interest income	20,142	12,126
Interest Expense:
Interest on deposits	3,171	223
Interest on short-term borrowings	73	0
Total interest expense	3,244	223
Net interest income	16,898	11,903
(Release of) provision for credit losses	(340)	230
Net interest income after (release of) provision for credit losses	17,238	11,673
Total net revenue	49,345	42,103
Operating Expense:
Personnel	30,026	24,718
Occupancy	855	915
Equipment	2,082	1,711
Amortization of intangible assets	195	135
Other operating expense	7,214	4,349
Total operating expense	40,372	31,828
Income before income tax expense	8,973	10,275
Income tax expense	1,856	2,017
Net income	$ 7,117	$ 8,258
Basic earnings per share (in dollars per share)	$ 0.52	$ 0.61
Diluted earnings per share (in dollars per share)	$ 0.51	$ 0.60
Processing fees
Fee Revenue and Other Income:
Fee revenues	$ 19,513	$ 19,036
Financial fees
Fee Revenue and Other Income:
Fee revenues	$ 11,259	$ 10,532

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Comprehensive Income
Net income	$ 7,117	$ 8,258
Other comprehensive income (loss):
Net unrealized gain (loss) on securities available-for-sale	9,181	(37,499)
Tax effect	(2,185)	8,925
Reclassification adjustments for gains included in net income	(39)	0
Tax effect	9	0
Foreign currency translation adjustments	85	(1)
Total comprehensive income (loss)	$ 14,168	$ (20,317)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash Flows From Operating Activities:
Net income	$ 7,117	$ 8,258
Amortization of intangible assets	195	135
Adjustments to reconcile net income to net cash provided by operating activities:
Gains on sales of securities	(39)	0
Stock-based compensation expense	1,950	1,340
(Release of) provision for credit losses	(340)	230
Increase in current income tax liability	1,704	1,911
Increase (decrease) in pension liability	101	(640)
Increase in accounts receivable	(1,878)	(726)
Other operating activities, net	(1,681)	1,451
Net cash provided by operating activities	9,293	14,736
Cash Flows From Investing Activities:
Proceeds from sales of securities available-for-sale	61,418	0
Proceeds from maturities of securities available-for-sale	13,164	16,194
Purchase of securities available-for-sale	(15,190)	(156,597)
Net decrease (increase) in loans	12,533	(16,500)
Purchase of bank-owned life insurance	0	(4,000)
Decrease (increase) in payments in advance of funding	33,956	(38,195)
Purchases of premises and equipment, net	(1,954)	(2,002)
Net cash provided by (used in) investing activities	103,927	(201,100)
Net (decrease) increase in noninterest-bearing demand deposits	(57,434)	39,177
Cash Flows From Financing Activities:
Net (decrease) increase in noninterest-bearing demand deposits	(57,434)	39,177
Net decrease in interest-bearing demand and savings deposits	(106,201)	(80,002)
Net increase (decrease) in time deposits	22,568	(3,743)
Net decrease (increase) in accounts and drafts receivable from customers	(16,165)	(60,663)
Cash dividends paid	(3,977)	(3,832)
Purchase of common shares for treasury	0	(5,086)
Other financing activities, net	(966)	(575)
Net cash used in financing activities	(103,684)	(137,115)
Net increase (decrease) in cash and cash equivalents	9,536	(323,479)
Cash and cash equivalents at beginning of period	200,942	514,928
Cash and cash equivalents at end of period	210,478	191,449
Supplemental information:
Cash paid for interest	3,135	216
Cash paid for income taxes	139	109
Accretion (Amortization) of Discounts and Premiums, Investments	1,219	(1,748)
Depreciation	945	1,029
Net (Increase) Decrease In Accounts and Drafts Receivable From Customers	$ 58,491	$ (22,391)

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2021	$ 245,798	$ 7,753	$ 204,276	$ 112,220	$ (78,904)	$ 453
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	8,258			8,258
Cash dividends	(3,832)			(3,832)
Issuance of common shares pursuant to stock-based compensation plan, net	(490)		(1,889)		1,399
Exercise of SARs	(85)		(328)		243
Stock-based compensation expense	1,090		1,090
Purchase of common shares	(5,086)				(5,086)
Other comprehensive income (loss)	(28,575)					(28,575)
Ending balance at Mar. 31, 2022	217,078	7,753	203,149	116,646	(82,348)	(28,122)
Beginning balance at Dec. 31, 2022	206,325	7,753	207,422	131,682	(81,211)	(59,321)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7,117			7,117
Cash dividends	(3,977)			(3,977)
Issuance of common shares pursuant to stock-based compensation plan, net	(850)		(2,520)		1,670
Exercise of SARs	(116)		(238)		122
Stock-based compensation expense	1,950		1,950
Other comprehensive income (loss)	7,051					7,051
Ending balance at Mar. 31, 2023	$ 217,500	$ 7,753	$ 206,614	$ 134,822	$ (79,419)	$ (52,270)

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.29	$ 0.28
Issuance of common shares pursuant to stock-based compensation plan, net (in shares)	61,534	58,272
Purchase of common shares (in shares)		124,874

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included. Certain amounts in prior-period financial statements have been reclassified to conform to the current period’s presentation. Such reclassifications have no effect on previously reported net income or shareholders’ equity. For further information, refer to the audited consolidated financial statements and related footnotes included in Cass Information System, Inc.’s (the “Company” or “Cass”) Annual Report on Form 10-K for the year ended December 31, 2022.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets The Company accounts for intangible assets in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 350, Goodwill and Other Intangible Assets , which requires that intangibles with indefinite useful lives be tested annually for impairment, or when management deems there is a triggering event, and those with finite useful lives be amortized over their useful lives. Details of the Company’s intangible assets are as follows: March 31, 2023 December 31, 2022 (In thousands) Gross Carrying Accumulated Gross Carrying Accumulated Assets eligible for amortization: Customer lists $ 6,470 $ (4,633) $ 6,470 $ (4,561) Patents 72 (33) 72 (32) Software 3,212 (1,614) 3,212 (1,508) Trade name 373 (49) 373 (42) Other 500 (367) 500 (358) Unamortized intangible assets: Goodwill 17,309 — 17,309 — Total intangible assets $ 27,936 $ (6,696) $ 27,936 $ (6,501)

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the sum of the weighted-average number of common shares outstanding and the weighted-average number of potential common shares outstanding. Under the treasury stock method, stock appreciation rights (“SARs”) are dilutive when the average market price of the Company’s common stock, combined with the effect of any unamortized compensation expense, exceeds the SAR price during a period. The calculations of basic and diluted earnings per share are as follows: (In thousands except share and per share data) Three Months Ended 2023 2022 Basic Net income $ 7,117 $ 8,258 Weighted-average common shares outstanding 13,599,472 13,577,991 Basic earnings per share $ 0.52 $ 0.61 Diluted Net income $ 7,117 $ 8,258 Weighted-average common shares outstanding 13,599,472 13,577,991 Effect of dilutive restricted stock and stock appreciation rights 263,926 236,233 Weighted-average common shares outstanding assuming dilution 13,863,398 13,814,224 Diluted earnings per share $ 0.51 $ 0.60

Stock Repurchases

Stock Repurchases	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Stock Repurchases	Stock Repurchases The Company maintains a treasury stock buyback program pursuant to which, in October 2021, the Board of Directors authorized the repurchase of up to 750,000 shares of the Company’s common stock with no expiration date. As of March 31, 2023, 340,707 shares remained available for repurchase under the program. The Company repurchased no shares during the three-month period ended March 31, 2023 and 124,874 shares during the three-month period ended March 31, 2022. 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, 2023
Segment Reporting [Abstract]
Industry Segment Information	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. In addition, this segment provides church management software and on-line generosity services primarily for faith-based ministries. The Banking Services segment provides banking services primarily to privately held businesses, franchise restaurants, and faith-based ministries, 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, 2022. 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. Banking Services interest income is determined by actual interest income on loans minus actual interest expense paid on deposits plus/minus an allocation for interest income or expense dependent on the remaining available liquidity of the segment. Information Services interest income is determined by multiplying available liquidity by actual yields on short-term investments and investment securities. Any difference between total segment interest income and overall total Company interest income is included in Corporate, Eliminations, and Other. Summarized information about the Company’s operations in each industry segment is as follows: (In thousands) Information Banking Corporate, Total Three Months Ended March 31, 2023: Fee income $ 31,077 $ 711 $ 319 $ 32,107 Interest income* 9,447 13,177 (2,482) 20,142 Interest expense 98 5,433 (2,287) 3,244 Intersegment income (expense) (914) 914 — — Tax-equivalized pre-tax income* 4,991 3,859 123 8,973 Goodwill 17,173 136 — 17,309 Other intangible assets, net 3,931 — — 3,931 Total assets 1,526,001 1,167,979 (266,591) 2,427,389 Average funding sources 1,357,035 882,892 — 2,239,927 Three Months Ended March 31, 2022: Fee income $ 29,184 $ 953 $ 293 $ 30,430 Interest income* 4,350 8,853 (1,077) 12,126 Interest expense 6 225 (8) 223 Intersegment income (expense) (764) 764 — — Tax-equivalized pre-tax income* 5,890 5,161 (776) 10,275 Goodwill 14,126 136 — 14,262 Other intangible assets, net 2,429 — — 2,429 Total assets 1,338,342 1,088,025 (4,324) 2,422,043 Average funding sources 1,288,407 966,820 — 2,255,227

Loans by Type

Loans by Type	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Loans by Type	Loans by Type A summary of loans is as follows: (In thousands) March 31, December 31, Commercial and industrial $ 548,923 $ 561,616 Real estate: Commercial: Mortgage 116,202 108,166 Construction 19,075 17,874 Faith-based: Mortgage 376,630 387,114 Construction 9,538 8,094 Other 5 42 Total loans $ 1,070,373 $ 1,082,906 The following table presents the aging of loans past due by category at March 31, 2023 and December 31, 2022: Performing Nonperforming (In thousands) Current 30-59 60-89 90 Non- Total March 31, 2023 Commercial and industrial $ 548,923 $ — $ — $ — $ — $ 548,923 Real estate Commercial: Mortgage 116,202 — — — — 116,202 Construction 19,075 — — — — 19,075 Faith-based: Mortgage 376,630 — — — — 376,630 Construction 9,538 — — — — 9,538 Other 5 — — — — 5 Total $ 1,070,373 $ — $ — $ — $ — $ 1,070,373 December 31, 2022 Commercial and industrial $ 560,466 $ — $ — $ — $ 1,150 $ 561,616 Real estate Commercial: Mortgage 108,166 — — — — 108,166 Construction 17,874 — — — — 17,874 Faith-based: Mortgage 387,114 — — — — 387,114 Construction 8,094 — — — — 8,094 Other 42 — — — — 42 Total $ 1,081,756 $ — $ — $ — $ 1,150 $ 1,082,906 The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of March 31, 2023 and December 31, 2022: (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, 2023 Commercial and industrial $ 537,698 $ 11,225 $ — $ 548,923 Real estate Commercial: Mortgage 116,202 — — 116,202 Construction 19,075 — — 19,075 Faith-based: Mortgage 372,951 3,679 — 376,630 Construction 9,538 — — 9,538 Other 5 — — 5 Total $ 1,055,469 $ 14,904 $ — $ 1,070,373 December 31, 2022 Commercial and industrial $ 549,241 $ 11,225 $ 1,150 $ 561,616 Real estate Commercial: Mortgage 108,166 — — 108,166 Construction 17,874 — — 17,874 Faith-based: Mortgage 386,169 945 — 387,114 Construction 8,094 — — 8,094 Other 42 — — 42 Total $ 1,069,586 $ 12,170 $ 1,150 $ 1,082,906 1 Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk, who have the apparent ability to satisfy their loan obligations. 2 Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention. The Company adopted Accounting Standards Update ("ASU") 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ("ASU 2022-02") effective January 1, 2023. The amendments in ASU 2022-02 eliminated the recognition and measure of troubled debt restructurings and enhanced disclosures for loan modifications to borrowers experiencing financial difficulty. In some cases, these modifications may result in new loans. Loan modifications to borrowers experiencing financial difficulty may be in the form of principal forgiveness, an interest rate reduction, an other-than-insignificant payment delay, a term extension, or a combination thereof, among other things. The following table shows the amortized cost of loans at March 31, 2023 that were both experiencing financial difficulty and modified during the three months ended March 31, 2023, segregated by category and type of modification. (In thousands) Payment Delay Term Extension Interest Rate Reduction Combination Term Extension and Interest Rate Reduction Percentage of Total Loans Held for Investment March 31, 2023 Commercial and industrial $ — $ 11,225 $ — $ — 2.04 % Total $ — $ 11,225 $ — $ — 1.05 % There were two loans modified during the three months ended March 31, 2023. The terms were extended by periods of two and three years and there was not an interest rate reduction associated with the modifications. The following table shows the performance of loans that have been modified to borrowers experiencing financial difficulty during the three months ended March 31, 2023. (In thousands) Current 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due March 31, 2023 Commercial and industrial $ 11,225 $ — $ — $ — $ — Total $ 11,225 $ — $ — $ — $ — There were no modified loans that had a payment default during the three months ended March 31, 2023 and that had been modified due to the borrower experiencing financial difficulty within the 12 previous months preceding the default. Upon the Company's determination that a modified loan has subsequently been deemed uncollectible, the loan is written off. There were no loans written off during the three months ended March 31, 2023. Prior to the adoption of ASU 2022-02, there were no loans considered troubled debt restructurings as of March 31, 2022 or December 31, 2022. The Company had no loans evaluated for expected credit losses on an individual basis as of March 31, 2023 or December 31, 2022. There were no foreclosed loans recorded as other real estate owned as of March 31, 2023 or December 31, 2022. A summary of the activity in the allowance for credit losses (“ACL”) by category for the three-month period ended March 31, 2023 and year-ended December 31, 2022 is as follows: (In thousands) C&I CRE Faith-based Construction Total Balance at December 31, 2021 $ 5,034 $ 1,031 $ 5,684 $ 292 $ 12,041 Provision for (release of) credit losses 931 (91) 753 (108) 1,485 Recoveries 13 — — — 13 Balance at December 31, 2022 $ 5,978 $ 940 $ 6,437 $ 184 $ 13,539 (Release of) provision for credit losses (1) (68) 77 (314) 20 (285) Recoveries — — — — — Balance at March 31, 2023 $ 5,910 $ 1,017 $ 6,123 $ 204 $ 13,254 (1) For the three-month period ended March 31, 2023 and year-ended December 31, 2022, there was a release of credit losses of $55,000 and $135,000, respectively, for unfunded commitments.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the normal course of business, the Company is party to activities that contain credit, market and operational risks that are not reflected in whole or in part in the Company’s consolidated financial statements. Such activities include traditional off-balance sheet credit-related financial instruments and commitments under operating leases. These financial instruments include commitments to extend credit, commercial letters of credit and standby letters of credit. The Company’s maximum potential exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit, commercial letters of credit and standby letters of credit is represented by the contractual amounts of those instruments. An allowance for unfunded commitments of $177,000 and $232,000 had been recorded at March 31, 2023 and December 31, 2022, 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, 2023, the balances of unfunded commitments, standby and commercial letters of credit were $233.9 million, $14.3 million, and $1.2 million, respectively. Since some of the financial instruments may expire without being drawn upon, the total amounts do not necessarily represent future cash requirements. Commitments to extend credit and letters of credit are subject to the same underwriting standards as those financial instruments included on the consolidated balance sheets. The Company evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of the credit, is based on management’s credit evaluation of the borrower. Collateral held varies, but is generally accounts receivable, inventory, residential or income-producing commercial property or equipment. In the event of nonperformance, the Company or its subsidiaries may obtain and liquidate the collateral to recover amounts paid under guarantees on these financial instruments.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation awards have historically been issued under the Company's Amended and Restated Omnibus Stock and Performance Compensation Plan (the "Prior Plan"), which was amended and last approved by shareholders in 2013. The Company may issue shares out of treasury stock for these awards. During the three months ended March 31, 2023, 35,035 restricted shares and 48,262 performance-based restricted shares were granted under the Prior Plan. Stock-based compensation expense for the three months ended March 31, 2023 and 2022 was $2.0 million and $1.3 million, respectively. On February 16, 2023, the Board of Directors adopted the 2023 Omnibus Stock and Performance Compensation Plan (the "2023 Omnibus Plan") to replace the Prior Plan, subject to shareholder approval which occurred on April 18, 2023. Subsequent to this date, the Company will issue stock-based compensation awards under the 2023 Omnibus Plan. Restricted Stock Restricted shares granted to Company employees are amortized to expense over a three-year cliff vesting period, or until vesting occurs upon retirement. Restricted shares granted to members of the Board of Directors are amortized to expense over a one-year service period, with the exception of those shares granted in lieu of cash payments for retainer fees which are expensed in the period earned. As of March 31, 2023, the total unrecognized compensation expense related to non-vested restricted shares was $2.2 million, and the related weighted-average period over which it is expected to be recognized is approximately 0.87 years. Following is a summary of the activity of the Company's restricted stock for the three months ended March 31, 2023, with total shares and weighted-average fair value: Three Months Ended Shares Fair Value Balance at December 31, 2022 205,565 $ 42.64 Granted 35,035 48.68 Vested (20,233) 54.02 Forfeitures — — Balance at March 31, 2023 220,367 $ 42.56 Performance-Based Restricted Stock The Company has granted three-year performance-based restricted stock (“PBRS”) awards which are contingent upon the Company’s achievement of pre-established financial goals over a three-year cliff vest period. The number of shares issued ranges from 0% to 150% of the target opportunity based on the actual achievement of financial goals for the three-year performance period. Following is a summary of the activity of the PBRS for the three months ended March 31, 2023, based on 100% of target value: Three Months Ended Shares Fair Value Balance at December 31, 2022 138,785 $ 43.19 Granted 48,262 48.89 Vested (30,567) 54.02 Forfeitures — — Balance at March 31, 2023 156,480 $ 42.83 The PBRS that vested during the three months ended March 31, 2023 were based on the Company's achievement of 86.7% of target financial goals, resulting in the issuance of 26,499 shares of common stock. The outstanding PBRS at March 31, 2023 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, 2023. Following is a summary of the activity of the Company’s SARs program for the three months ended March 31, 2023: Shares Weighted- Average Aggregate Intrinsic Value (In thousands) Balance at December 31, 2022 46,325 $ 41.62 0.73 $ 192 Exercised (15,916) 31.92 — — Exercisable at March 31, 2023 30,409 $ 46.70 0.84 $ — All SARs were vested at March 31, 2023.

Defined Pension Plans

Defined Pension Plans	3 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Defined Pension Plans	Defined Pension Plans The Company has a noncontributory defined-benefit pension plan (the “Plan”), which covers eligible employees. Effective December 31, 2016, the Plan was closed to all new participants. Additionally, the Plan’s benefits were frozen for all remaining participants as of February 28, 2021. As such, subsequent to February 28, 2021, there is no service cost associated with the Plan. The following table represents the components of net periodic pension cost (benefit): (In thousands) Estimated 2023 Actual 2022 Interest cost on projected benefit obligations $ 4,375 $ 3,293 Expected return on plan assets (3,977) (5,857) Net periodic pension cost (benefit) $ 398 $ (2,564) The Company recorded a net periodic pension cost of $135,000 for the three-month period ended March 31, 2023, and a net periodic pension benefit of $618,000 for the three-month period ended March 31, 2022. The Company made no contributions to the Plan during the three-month period ended March 31, 2023 and is evaluating the amount of contributions, if any, for the remainder of 2023. In addition to the above funded defined-benefit pension plan, the Company has an unfunded supplemental executive retirement plan (the "SERP"). There are no current employees earning benefits and therefore, there is no service cost associated with the SERP. The following table represents the components of the net periodic cost for the SERP: (In thousands) Estimated 2023 Actual 2022 Interest cost on projected benefit obligation $ 472 $ 318 Net amortization — 108 Net periodic pension cost $ 472 $ 426

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate was 20.7% and 19.6% for the three-month periods ended March 31, 2023 and 2022, respectively. The effective tax rate for all periods differs from the statutory rate of 21% primarily due to the tax-exempt interest received from municipal bonds and bank-owned life insurance, among other factors. The increase in the effective tax rate for the three-month period ended March 31, 2023 as compared to the same period of 2022 is primarily a result of lower tax-exempt income.

Investment in Securities

Investment in Securities	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments in Securities	Investment in Securities Investment securities available-for-sale are recorded at fair value on a recurring basis. The Company’s investment securities available-for-sale are measured at fair value using Level 2 valuations. The market evaluation utilizes several sources which include “observable inputs” rather than “significant unobservable inputs” and therefore fall into the Level 2 category. The amortized cost, gross unrealized gains, gross unrealized losses and fair value of investment securities are summarized as follows: March 31, 2023 (In thousands) Amortized Gross Gross Fair State and political subdivisions $ 247,798 $ 52 $ 17,568 $ 230,282 Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises 201,094 — 29,554 171,540 Corporate bonds 111,290 19 9,643 101,666 Treasury securities 159,244 — 2,769 156,475 Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises 45,048 — 1,974 43,074 Total $ 764,474 $ 71 $ 61,508 $ 703,037 December 31, 2022 (In thousands) Amortized Gross Gross Fair Value State and political subdivisions $ 317,376 $ 54 $ 22,304 $ 295,126 Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises 205,175 — 31,236 173,939 Corporate bonds 96,348 — 11,251 85,097 Treasury securities 158,935 — 3,652 155,283 Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises 47,213 — 2,190 45,023 Total $ 825,047 $ 54 $ 70,633 $ 754,468 The fair values of securities with unrealized losses are as follows: March 31, 2023 Less than 12 months 12 months or more Total (In thousands) Estimated Unrealized Estimated Unrealized Estimated Unrealized State and political subdivisions $ 80,551 $ 387 $ 114,603 $ 17,181 $ 195,154 $ 17,568 Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises 12,346 443 159,194 29,111 171,540 29,554 Corporate bonds 5,000 — 81,647 9,643 86,647 9,643 Treasury securities 156,474 2,769 — — 156,474 2,769 Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises — — 43,075 1,974 43,075 1,974 Total $ 254,371 $ 3,599 $ 398,519 $ 57,909 $ 652,890 $ 61,508 December 31, 2022 Less than 12 months 12 months or more Total (In thousands) Estimated Unrealized Estimated Unrealized Estimated Unrealized State and political subdivisions $ 214,919 $ 8,958 $ 47,474 $ 13,346 $ 262,393 $ 22,304 Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises 53,732 6,135 118,017 25,101 171,749 31,236 Corporate bonds 32,517 3,629 47,580 7,622 80,097 11,251 Treasury securities 155,283 3,652 — — 155,283 3,652 Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises — — 47,213 2,190 47,213 2,190 Total $ 456,451 $ 22,374 $ 260,284 $ 48,259 $ 716,735 $ 70,633 There were 250 securities, or 86.8% (176 of which for greater than 12 months), in an unrealized loss position as of March 31, 2023. The unrealized losses at March 31, 2023 were primarily attributable to changes in market interest rates after the securities were purchased. The Company does not currently intend to sell and, based on current conditions, the Company does not believe it will be required to sell these available-for-sale securities before the recovery of the amortized cost basis, which may be the maturity dates of the securities. Therefore, the unrealized losses are recorded in accumulated other comprehensive loss. There were 311 securities, or 29.8% (101 of which for greater than 12 months), in an unrealized loss position as of December 31, 2022. At March 31, 2023 and December 31, 2022, the Company had not recorded an allowance for credit losses on securities. The amortized cost and fair value of investment securities by contractual maturity are shown in the following table. Expected maturities may differ from contractual maturities because borrowers have the right to prepay obligations with or without prepayment penalties. March 31, 2023 (In thousands) Amortized Cost Fair Value Due in 1 year or less $ 86,522 $ 85,645 Due after 1 year through 5 years 221,691 218,313 Due after 5 years through 10 years 205,475 182,676 Due after 10 years 250,786 216,403 Total $ 764,474 $ 703,037

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Following is a summary of the carrying amounts and fair values of the Company’s financial instruments: March 31, 2023 December 31, 2022 (In thousands) Carrying Fair Value Carrying Fair Value Balance sheet assets: Cash and cash equivalents $ 210,478 $ 210,478 $ 200,942 $ 200,942 Investment securities 703,037 703,037 754,468 754,468 Loans, net 1,057,119 977,053 1,069,367 1,004,682 Accrued interest receivable 7,508 7,508 8,297 8,297 Total $ 1,978,142 $ 1,898,076 $ 2,033,074 $ 1,968,389 Balance sheet liabilities: Deposits $ 1,116,150 $ 1,116,150 $ 1,257,217 $ 1,257,217 Accounts and drafts payable 1,051,435 1,051,435 1,067,600 1,067,600 Accrued interest payable 176 176 66 66 Total $ 2,167,761 $ 2,167,761 $ 2,324,883 $ 2,324,883 The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: Cash and Cash Equivalents - The carrying amount approximates fair value. Investment in Securities - The fair value is measured on a recurring basis using Level 2 valuations. Refer to Note 11, “Investment in Securities,” for fair value and unrealized gains and losses by investment type. Loans - The fair value is estimated using present values of future cash flows discounted at risk-adjusted interest rates for each loan category designated by management and is therefore a Level 3 valuation. Management believes that the risk factor embedded in the interest rates along with the allowance for credit losses result in a fair valuation. Accrued Interest Receivable - The carrying amount approximates fair value. Deposits - The fair value of demand deposits, savings deposits and certain money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities and therefore, is a Level 2 valuation. The fair value estimates above do not include the benefit that results from the low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the market or the benefit derived from the customer relationship inherent in existing deposits. Accounts and Drafts Payable - The carrying amount approximates fair value. Accrued Interest Payable - The carrying amount approximates fair value.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customers	Revenue from Contracts with Customers Revenue is recognized as the obligation to the customer is satisfied. The following is detail of the Company’s revenue from contracts with clients. Processing fees – The Company earns fees on a per-item or monthly basis for the invoice processing services rendered on behalf of customers. Per-item fees are recognized at the point in time when the performance obligation is satisfied. Monthly fees are earned over the course of a month, representing the period over which the performance obligation is satisfied. The contracts have no significant impact of variable consideration and no significant financing components. Financial fees – The Company earns fees on a transaction level basis for invoice payment services when making customer payments. Fees are recognized at the point in time when the payment transactions are made, which is when the performance obligation is satisfied. The contracts have no significant impact of variable consideration and no significant financing components. Bank service fees – Revenue from service fees consists of service charges and fees on deposit accounts under depository agreements with customers to provide access to deposited funds. Service charges on deposit accounts are transaction-based fees that are recognized at the point in time when the performance obligation is satisfied. Service charges are recognized on a monthly basis representing the period over which the performance obligation is satisfied. The contracts have no significant impact of variable consideration and no significant financing components. For the Three Months Ended March 31, (In thousands) 2023 2022 Fee revenue and other income In-scope of FASB ASC 606 Processing fees $ 19,513 $ 19,036 Financial fees 11,259 10,532 Information services payment and processing revenue 30,772 29,568 Bank service fees 264 429 Fee revenue (in-scope of FASB ASC 606) 31,036 29,997 Other income (out-of-scope of FASB ASC 606) 1,071 433 Total fee revenue and other income $ 32,107 $ 30,430

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	LeasesThe Company leases certain premises under operating leases. As of March 31, 2023, the Company had lease liabilities of $9.3 million and right-of-use assets of $8.9 million. Lease liabilities and right-of-use assets are reflected in other liabilities other assets and the weighted-average discount rate used in the measurement of operating lease liabilities was 3.58%. Certain of the Company’s leases contain options to renew the lease; however, these renewal options are not included in the calculation of the lease liabilities as they are not reasonably certain to be exercised. See the Company’s 2022 Annual Report on Form 10-K for information regarding these commitments. A maturity analysis of operating lease liabilities and undiscounted cash flows as of March 31, 2023 is as follows: (In thousands) March 31, Lease payments due Less than 1 year $ 1,349 1-2 years 1,326 2-3 years 1,352 3-4 years 1,347 4-5 years 1,364 Over 5 years 3,875 Total undiscounted cash flows 10,613 Discount on cash flows 1,363 Total lease liability $ 9,250 There were no sale and leaseback transactions, leveraged leases, or lease transactions with related parties during the three months ended March 31, 2023.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In accordance with FASB ASC 855, Subsequent Events , the Company has evaluated subsequent events after the consolidated balance sheet date of March 31, 2023. There were no events identified that would require additional disclosures to prevent the Company’s unaudited consolidated financial statements from being misleading.

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	Details of the Company’s intangible assets are as follows: March 31, 2023 December 31, 2022 (In thousands) Gross Carrying Accumulated Gross Carrying Accumulated Assets eligible for amortization: Customer lists $ 6,470 $ (4,633) $ 6,470 $ (4,561) Patents 72 (33) 72 (32) Software 3,212 (1,614) 3,212 (1,508) Trade name 373 (49) 373 (42) Other 500 (367) 500 (358) Unamortized intangible assets: Goodwill 17,309 — 17,309 — Total intangible assets $ 27,936 $ (6,696) $ 27,936 $ (6,501)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The calculations of basic and diluted earnings per share are as follows: (In thousands except share and per share data) Three Months Ended 2023 2022 Basic Net income $ 7,117 $ 8,258 Weighted-average common shares outstanding 13,599,472 13,577,991 Basic earnings per share $ 0.52 $ 0.61 Diluted Net income $ 7,117 $ 8,258 Weighted-average common shares outstanding 13,599,472 13,577,991 Effect of dilutive restricted stock and stock appreciation rights 263,926 236,233 Weighted-average common shares outstanding assuming dilution 13,863,398 13,814,224 Diluted earnings per share $ 0.51 $ 0.60

Industry Segment Information (T

Industry Segment Information (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Summarized information about the Company’s operations in each industry segment is as follows: (In thousands) Information Banking Corporate, Total Three Months Ended March 31, 2023: Fee income $ 31,077 $ 711 $ 319 $ 32,107 Interest income* 9,447 13,177 (2,482) 20,142 Interest expense 98 5,433 (2,287) 3,244 Intersegment income (expense) (914) 914 — — Tax-equivalized pre-tax income* 4,991 3,859 123 8,973 Goodwill 17,173 136 — 17,309 Other intangible assets, net 3,931 — — 3,931 Total assets 1,526,001 1,167,979 (266,591) 2,427,389 Average funding sources 1,357,035 882,892 — 2,239,927 Three Months Ended March 31, 2022: Fee income $ 29,184 $ 953 $ 293 $ 30,430 Interest income* 4,350 8,853 (1,077) 12,126 Interest expense 6 225 (8) 223 Intersegment income (expense) (764) 764 — — Tax-equivalized pre-tax income* 5,890 5,161 (776) 10,275 Goodwill 14,126 136 — 14,262 Other intangible assets, net 2,429 — — 2,429 Total assets 1,338,342 1,088,025 (4,324) 2,422,043 Average funding sources 1,288,407 966,820 — 2,255,227

Loans by Type (Tables)

Loans by Type (Tables)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Summary of Loan Categories	A summary of loans is as follows: (In thousands) March 31, December 31, Commercial and industrial $ 548,923 $ 561,616 Real estate: Commercial: Mortgage 116,202 108,166 Construction 19,075 17,874 Faith-based: Mortgage 376,630 387,114 Construction 9,538 8,094 Other 5 42 Total loans $ 1,070,373 $ 1,082,906
Schedule of Debt	The following table presents the aging of loans past due by category at March 31, 2023 and December 31, 2022: Performing Nonperforming (In thousands) Current 30-59 60-89 90 Non- Total March 31, 2023 Commercial and industrial $ 548,923 $ — $ — $ — $ — $ 548,923 Real estate Commercial: Mortgage 116,202 — — — — 116,202 Construction 19,075 — — — — 19,075 Faith-based: Mortgage 376,630 — — — — 376,630 Construction 9,538 — — — — 9,538 Other 5 — — — — 5 Total $ 1,070,373 $ — $ — $ — $ — $ 1,070,373 December 31, 2022 Commercial and industrial $ 560,466 $ — $ — $ — $ 1,150 $ 561,616 Real estate Commercial: Mortgage 108,166 — — — — 108,166 Construction 17,874 — — — — 17,874 Faith-based: Mortgage 387,114 — — — — 387,114 Construction 8,094 — — — — 8,094 Other 42 — — — — 42 Total $ 1,081,756 $ — $ — $ — $ 1,150 $ 1,082,906
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, 2023 and December 31, 2022: (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, 2023 Commercial and industrial $ 537,698 $ 11,225 $ — $ 548,923 Real estate Commercial: Mortgage 116,202 — — 116,202 Construction 19,075 — — 19,075 Faith-based: Mortgage 372,951 3,679 — 376,630 Construction 9,538 — — 9,538 Other 5 — — 5 Total $ 1,055,469 $ 14,904 $ — $ 1,070,373 December 31, 2022 Commercial and industrial $ 549,241 $ 11,225 $ 1,150 $ 561,616 Real estate Commercial: Mortgage 108,166 — — 108,166 Construction 17,874 — — 17,874 Faith-based: Mortgage 386,169 945 — 387,114 Construction 8,094 — — 8,094 Other 42 — — 42 Total $ 1,069,586 $ 12,170 $ 1,150 $ 1,082,906 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.
Financing Receivable, Troubled Debt Restructuring	The following table shows the amortized cost of loans at March 31, 2023 that were both experiencing financial difficulty and modified during the three months ended March 31, 2023, segregated by category and type of modification. (In thousands) Payment Delay Term Extension Interest Rate Reduction Combination Term Extension and Interest Rate Reduction Percentage of Total Loans Held for Investment March 31, 2023 Commercial and industrial $ — $ 11,225 $ — $ — 2.04 % Total $ — $ 11,225 $ — $ — 1.05 % The following table shows the performance of loans that have been modified to borrowers experiencing financial difficulty during the three months ended March 31, 2023. (In thousands) Current 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due March 31, 2023 Commercial and industrial $ 11,225 $ — $ — $ — $ — Total $ 11,225 $ — $ — $ — $ —
Summary of ACL by Category	A summary of the activity in the allowance for credit losses (“ACL”) by category for the three-month period ended March 31, 2023 and year-ended December 31, 2022 is as follows: (In thousands) C&I CRE Faith-based Construction Total Balance at December 31, 2021 $ 5,034 $ 1,031 $ 5,684 $ 292 $ 12,041 Provision for (release of) credit losses 931 (91) 753 (108) 1,485 Recoveries 13 — — — 13 Balance at December 31, 2022 $ 5,978 $ 940 $ 6,437 $ 184 $ 13,539 (Release of) provision for credit losses (1) (68) 77 (314) 20 (285) Recoveries — — — — — Balance at March 31, 2023 $ 5,910 $ 1,017 $ 6,123 $ 204 $ 13,254 (1) For the three-month period ended March 31, 2023 and year-ended December 31, 2022, there was a release of credit losses of $55,000 and $135,000, respectively, for unfunded commitments.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted Stock Activity	Following is a summary of the activity of the Company's restricted stock for the three months ended March 31, 2023, with total shares and weighted-average fair value: Three Months Ended Shares Fair Value Balance at December 31, 2022 205,565 $ 42.64 Granted 35,035 48.68 Vested (20,233) 54.02 Forfeitures — — Balance at March 31, 2023 220,367 $ 42.56
Schedule of Performance Shares Activity	Following is a summary of the activity of the PBRS for the three months ended March 31, 2023, based on 100% of target value: Three Months Ended Shares Fair Value Balance at December 31, 2022 138,785 $ 43.19 Granted 48,262 48.89 Vested (30,567) 54.02 Forfeitures — — Balance at March 31, 2023 156,480 $ 42.83
Schedule of Stock Appreciation Right Activity	Following is a summary of the activity of the Company’s SARs program for the three months ended March 31, 2023: Shares Weighted- Average Aggregate Intrinsic Value (In thousands) Balance at December 31, 2022 46,325 $ 41.62 0.73 $ 192 Exercised (15,916) 31.92 — — Exercisable at March 31, 2023 30,409 $ 46.70 0.84 $ —

Defined Pension Plans (Tables)

Defined Pension Plans (Tables)	3 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Schedule of Expected Benefit Payments	The following table represents the components of net periodic pension cost (benefit): (In thousands) Estimated 2023 Actual 2022 Interest cost on projected benefit obligations $ 4,375 $ 3,293 Expected return on plan assets (3,977) (5,857) Net periodic pension cost (benefit) $ 398 $ (2,564)
Schedule of Net Benefit Costs	The following table represents the components of the net periodic cost for the SERP: (In thousands) Estimated 2023 Actual 2022 Interest cost on projected benefit obligation $ 472 $ 318 Net amortization — 108 Net periodic pension cost $ 472 $ 426

Investment in Securities (Table

Investment in Securities (Tables)	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Investment Securities	The amortized cost, gross unrealized gains, gross unrealized losses and fair value of investment securities are summarized as follows: March 31, 2023 (In thousands) Amortized Gross Gross Fair State and political subdivisions $ 247,798 $ 52 $ 17,568 $ 230,282 Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises 201,094 — 29,554 171,540 Corporate bonds 111,290 19 9,643 101,666 Treasury securities 159,244 — 2,769 156,475 Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises 45,048 — 1,974 43,074 Total $ 764,474 $ 71 $ 61,508 $ 703,037 December 31, 2022 (In thousands) Amortized Gross Gross Fair Value State and political subdivisions $ 317,376 $ 54 $ 22,304 $ 295,126 Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises 205,175 — 31,236 173,939 Corporate bonds 96,348 — 11,251 85,097 Treasury securities 158,935 — 3,652 155,283 Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises 47,213 — 2,190 45,023 Total $ 825,047 $ 54 $ 70,633 $ 754,468
Schedule of Unrealized Loss on Investments	The fair values of securities with unrealized losses are as follows: March 31, 2023 Less than 12 months 12 months or more Total (In thousands) Estimated Unrealized Estimated Unrealized Estimated Unrealized State and political subdivisions $ 80,551 $ 387 $ 114,603 $ 17,181 $ 195,154 $ 17,568 Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises 12,346 443 159,194 29,111 171,540 29,554 Corporate bonds 5,000 — 81,647 9,643 86,647 9,643 Treasury securities 156,474 2,769 — — 156,474 2,769 Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises — — 43,075 1,974 43,075 1,974 Total $ 254,371 $ 3,599 $ 398,519 $ 57,909 $ 652,890 $ 61,508 December 31, 2022 Less than 12 months 12 months or more Total (In thousands) Estimated Unrealized Estimated Unrealized Estimated Unrealized State and political subdivisions $ 214,919 $ 8,958 $ 47,474 $ 13,346 $ 262,393 $ 22,304 Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises 53,732 6,135 118,017 25,101 171,749 31,236 Corporate bonds 32,517 3,629 47,580 7,622 80,097 11,251 Treasury securities 155,283 3,652 — — 155,283 3,652 Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises — — 47,213 2,190 47,213 2,190 Total $ 456,451 $ 22,374 $ 260,284 $ 48,259 $ 716,735 $ 70,633
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	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, 2023 (In thousands) Amortized Cost Fair Value Due in 1 year or less $ 86,522 $ 85,645 Due after 1 year through 5 years 221,691 218,313 Due after 5 years through 10 years 205,475 182,676 Due after 10 years 250,786 216,403 Total $ 764,474 $ 703,037

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements by Balance Sheet Grouping	Following is a summary of the carrying amounts and fair values of the Company’s financial instruments: March 31, 2023 December 31, 2022 (In thousands) Carrying Fair Value Carrying Fair Value Balance sheet assets: Cash and cash equivalents $ 210,478 $ 210,478 $ 200,942 $ 200,942 Investment securities 703,037 703,037 754,468 754,468 Loans, net 1,057,119 977,053 1,069,367 1,004,682 Accrued interest receivable 7,508 7,508 8,297 8,297 Total $ 1,978,142 $ 1,898,076 $ 2,033,074 $ 1,968,389 Balance sheet liabilities: Deposits $ 1,116,150 $ 1,116,150 $ 1,257,217 $ 1,257,217 Accounts and drafts payable 1,051,435 1,051,435 1,067,600 1,067,600 Accrued interest payable 176 176 66 66 Total $ 2,167,761 $ 2,167,761 $ 2,324,883 $ 2,324,883

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	For the Three Months Ended March 31, (In thousands) 2023 2022 Fee revenue and other income In-scope of FASB ASC 606 Processing fees $ 19,513 $ 19,036 Financial fees 11,259 10,532 Information services payment and processing revenue 30,772 29,568 Bank service fees 264 429 Fee revenue (in-scope of FASB ASC 606) 31,036 29,997 Other income (out-of-scope of FASB ASC 606) 1,071 433 Total fee revenue and other income $ 32,107 $ 30,430

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Schedule of Operating Lease Maturity	A maturity analysis of operating lease liabilities and undiscounted cash flows as of March 31, 2023 is as follows: (In thousands) March 31, Lease payments due Less than 1 year $ 1,349 1-2 years 1,326 2-3 years 1,352 3-4 years 1,347 4-5 years 1,364 Over 5 years 3,875 Total undiscounted cash flows 10,613 Discount on cash flows 1,363 Total lease liability $ 9,250

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 17,309	$ 14,262	$ 17,309
Amortization of intangible assets	195	$ 135
Expected amortization, remainder of fiscal year	780
Amortization expense, next rolling twelve months	738
Amortization expense, rolling year two	730
Amortization expense, rolling year three	582
Amortization expense, rolling year four	$ 262
Customer lists | Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	7 years
Customer lists | Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	10 years
Patents
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	18 years
Software | Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	3 years
Software | Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	7 years
Trade name | Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	10 years
Trade name | Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	20 years
Other
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	15 years

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets eligible for amortization:
Accumulated Amortization	$ (6,696)	$ (6,501)
Unamortized intangible assets:
Goodwill, gross carrying amount	17,309	17,309
Total intangible assets, net	27,936	27,936
Total intangible assets, accumulated amortization	6,696	6,501
Customer lists
Assets eligible for amortization:
Gross Carrying Amount	6,470	6,470
Accumulated Amortization	(4,633)	(4,561)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	4,633	4,561
Patents
Assets eligible for amortization:
Gross Carrying Amount	72	72
Accumulated Amortization	(33)	(32)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	33	32
Software
Assets eligible for amortization:
Gross Carrying Amount	3,212	3,212
Accumulated Amortization	(1,614)	(1,508)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	1,614	1,508
Trade name
Assets eligible for amortization:
Gross Carrying Amount	373	373
Accumulated Amortization	(49)	(42)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	49	42
Other
Assets eligible for amortization:
Gross Carrying Amount	500	500
Accumulated Amortization	(367)	(358)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	$ 367	$ 358

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Basic
Net income	$ 7,117	$ 8,258
Weighted-average common shares outstanding (in shares)	13,599,472	13,577,991
Basic earnings per share (in dollars per share)	$ 0.52	$ 0.61
Diluted
Net Income	$ 7,117	$ 8,258
Weighted-average common shares outstanding (in shares)	13,599,472	13,577,991
Effect of dilutive restricted stock and stock appreciation rights (in shares)	263,926	236,233
Weighted-average common shares outstanding assuming dilution (in shares)	13,863,398	13,814,224
Diluted earnings per share (in dollars per share)	$ 0.51	$ 0.60

Stock Repurchases (Details)

Stock Repurchases (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Oct. 31, 2021
Equity [Abstract]
Number of shares authorized to be repurchased (in shares)			750,000
Remaining number of shares authorized to be repurchased (in shares)	340,707
Treasury stock, shares repurchased (in shares)	0	124,874

Industry Segment Information (D

Industry Segment Information (Details)	3 Months Ended
	Mar. 31, 2023 USD ($) segment	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	2
Interest Income (Expense), after Provision for Loan Loss [Abstract]
Fee income	$ 32,107,000	$ 30,430,000
Interest income	20,142,000	12,126,000
Interest expense	3,244,000	223,000
Intersegment income (expense)	16,898,000	11,903,000
Tax-equivalized pre-tax income	8,973,000	10,275,000
Goodwill	17,309,000	14,262,000	$ 17,309,000
Other intangible assets, net	3,931,000	2,429,000
Total assets	2,427,389,000	2,422,043,000	$ 2,573,023,000
Average funding sources	2,239,927,000	2,255,227,000
Tax equivalent adjustment	321,000	446,000
Corporate, Eliminations and Other
Interest Income (Expense), after Provision for Loan Loss [Abstract]
Fee income	319,000	293,000
Interest income	(2,482,000)	(1,077,000)
Interest expense	(2,287,000)	(8,000)
Intersegment income (expense)	0	0
Tax-equivalized pre-tax income	123,000	(776,000)
Goodwill	0	0
Other intangible assets, net	0	0
Total assets	(266,591,000)	(4,324,000)
Average funding sources	0	0
Information services payment and processing revenue | Operating Segments
Interest Income (Expense), after Provision for Loan Loss [Abstract]
Fee income	31,077,000	29,184,000
Interest income	9,447,000	4,350,000
Interest expense	98,000	6,000
Intersegment income (expense)	(914,000)	(764,000)
Tax-equivalized pre-tax income	4,991,000	5,890,000
Goodwill	17,173,000	14,126,000
Other intangible assets, net	3,931,000	2,429,000
Total assets	1,526,001,000	1,338,342,000
Average funding sources	1,357,035,000	1,288,407,000
Banking Services | Operating Segments
Interest Income (Expense), after Provision for Loan Loss [Abstract]
Fee income	711,000	953,000
Interest income	13,177,000	8,853,000
Interest expense	5,433,000	225,000
Intersegment income (expense)	914,000	764,000
Tax-equivalized pre-tax income	3,859,000	5,161,000
Goodwill	136,000	136,000
Other intangible assets, net	0	0
Total assets	1,167,979,000	1,088,025,000
Average funding sources	$ 882,892,000	$ 966,820,000

Loans by Type - Summary of Loan

Loans by Type - Summary of Loan Categories (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Participating Mortgage Loans [Line Items]
Total loans	$ 1,070,373	$ 1,082,906
Commercial and industrial
Participating Mortgage Loans [Line Items]
Total loans	548,923	561,616
Commercial: | Mortgage
Participating Mortgage Loans [Line Items]
Total loans	116,202	108,166
Commercial: | Construction
Participating Mortgage Loans [Line Items]
Total loans	19,075	17,874
Faith-based: | Mortgage
Participating Mortgage Loans [Line Items]
Total loans	376,630	387,114
Faith-based: | Construction
Participating Mortgage Loans [Line Items]
Total loans	9,538	8,094
Other
Participating Mortgage Loans [Line Items]
Total loans	$ 5	$ 42

Loans by Type - Narrative (Deta

Loans by Type - Narrative (Details) - loan	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2022	Dec. 31, 2022
Receivables [Abstract]
Number of loans individually evaluated for impairment	0		0
Number of troubled debt restructured loans	0	0

Loans by Type - Schedule of the

Loans by Type - Schedule of the Aging of Loans by Loan Categories (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Participating Mortgage Loans [Line Items]
Total Loans	$ 1,070,373	$ 1,082,906
Non- accrual	0	1,150
Commercial and industrial
Participating Mortgage Loans [Line Items]
Total Loans	548,923	561,616
Non- accrual	0	1,150
Commercial: | Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	116,202	108,166
Non- accrual	0	0
Commercial: | Construction
Participating Mortgage Loans [Line Items]
Total Loans	19,075	17,874
Non- accrual	0	0
Faith-based: | Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	376,630	387,114
Non- accrual	0	0
Faith-based: | Construction
Participating Mortgage Loans [Line Items]
Total Loans	9,538	8,094
Non- accrual	0	0
Other
Participating Mortgage Loans [Line Items]
Total Loans	5	42
Non- accrual	0	0
Current
Participating Mortgage Loans [Line Items]
Total Loans	1,070,373	1,081,756
Current | Commercial and industrial
Participating Mortgage Loans [Line Items]
Total Loans	548,923	560,466
Current | Commercial: | Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	116,202	108,166
Current | Commercial: | Construction
Participating Mortgage Loans [Line Items]
Total Loans	19,075	17,874
Current | Faith-based: | Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	376,630	387,114
Current | Faith-based: | Construction
Participating Mortgage Loans [Line Items]
Total Loans	9,538	8,094
Current | Other
Participating Mortgage Loans [Line Items]
Total Loans	5	42
30-59 Days
Participating Mortgage Loans [Line Items]
Total Loans	0	0
30-59 Days | Commercial and industrial
Participating Mortgage Loans [Line Items]
Total Loans	0	0
30-59 Days | Commercial: | Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	0	0
30-59 Days | Commercial: | Construction
Participating Mortgage Loans [Line Items]
Total Loans	0	0
30-59 Days | Faith-based: | Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	0	0
30-59 Days | Faith-based: | Construction
Participating Mortgage Loans [Line Items]
Total Loans	0	0
30-59 Days | Other
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days | Commercial and industrial
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days | Commercial: | Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days | Commercial: | Construction
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days | Faith-based: | Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days | Faith-based: | Construction
Participating Mortgage Loans [Line Items]
Total Loans	0	0
60-89 Days | Other
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over | Commercial and industrial
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over | Commercial: | Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over | Commercial: | Construction
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over | Faith-based: | Mortgage
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over | Faith-based: | Construction
Participating Mortgage Loans [Line Items]
Total Loans	0	0
90 Days and Over | Other
Participating Mortgage Loans [Line Items]
Total Loans	$ 0	$ 0

Loans by Type - Schedule of t_2

Loans by Type - Schedule of the Credit Exposure of the Loan Portfolio (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Participating Mortgage Loans [Line Items]
Total loans	$ 1,070,373	$ 1,082,906
Loans Subject To Normal Monitoring
Participating Mortgage Loans [Line Items]
Total loans	1,055,469	1,069,586
Performing Loans Subject To Special Monitoring
Participating Mortgage Loans [Line Items]
Total loans	14,904	12,170
Nonperforming Loans Subject To Special Monitoring
Participating Mortgage Loans [Line Items]
Total loans	0	1,150
Commercial and industrial
Participating Mortgage Loans [Line Items]
Total loans	548,923	561,616
Commercial and industrial | Loans Subject To Normal Monitoring
Participating Mortgage Loans [Line Items]
Total loans	537,698	549,241
Commercial and industrial | Performing Loans Subject To Special Monitoring
Participating Mortgage Loans [Line Items]
Total loans	11,225	11,225
Commercial and industrial | Nonperforming Loans Subject To Special Monitoring
Participating Mortgage Loans [Line Items]
Total loans	0	1,150
Commercial: | Mortgage
Participating Mortgage Loans [Line Items]
Total loans	116,202	108,166
Commercial: | Mortgage | Loans Subject To Normal Monitoring
Participating Mortgage Loans [Line Items]
Total loans	116,202	108,166
Commercial: | Mortgage | Performing Loans Subject To Special Monitoring
Participating Mortgage Loans [Line Items]
Total loans	0	0
Commercial: | Mortgage | Nonperforming Loans Subject To Special Monitoring
Participating Mortgage Loans [Line Items]
Total loans	0	0
Commercial: | Construction
Participating Mortgage Loans [Line Items]
Total loans	19,075	17,874
Commercial: | Construction | Loans Subject To Normal Monitoring
Participating Mortgage Loans [Line Items]
Total loans	19,075	17,874
Commercial: | Construction | Performing Loans Subject To Special Monitoring
Participating Mortgage Loans [Line Items]
Total loans	0	0
Commercial: | Construction | Nonperforming Loans Subject To Special Monitoring
Participating Mortgage Loans [Line Items]
Total loans	0	0
Faith-based: | Mortgage
Participating Mortgage Loans [Line Items]
Total loans	376,630	387,114
Faith-based: | Mortgage | Loans Subject To Normal Monitoring
Participating Mortgage Loans [Line Items]
Total loans	372,951	386,169
Faith-based: | Mortgage | Performing Loans Subject To Special Monitoring
Participating Mortgage Loans [Line Items]
Total loans	3,679	945
Faith-based: | Mortgage | Nonperforming Loans Subject To Special Monitoring
Participating Mortgage Loans [Line Items]
Total loans	0	0
Faith-based: | Construction
Participating Mortgage Loans [Line Items]
Total loans	9,538	8,094
Faith-based: | Construction | Loans Subject To Normal Monitoring
Participating Mortgage Loans [Line Items]
Total loans	9,538	8,094
Faith-based: | Construction | Performing Loans Subject To Special Monitoring
Participating Mortgage Loans [Line Items]
Total loans	0	0
Faith-based: | Construction | Nonperforming Loans Subject To Special Monitoring
Participating Mortgage Loans [Line Items]
Total loans	0	0
Other
Participating Mortgage Loans [Line Items]
Total loans	5	42
Other | Loans Subject To Normal Monitoring
Participating Mortgage Loans [Line Items]
Total loans	5	42
Other | Performing Loans Subject To Special Monitoring
Participating Mortgage Loans [Line Items]
Total loans	0	0
Other | Nonperforming Loans Subject To Special Monitoring
Participating Mortgage Loans [Line Items]
Total loans	$ 0	$ 0

Loans by Type - Summary of ACL

Loans by Type - Summary of ACL by Category (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 13,539
Ending balance	13,254
Loans Excluding Unfunded Commitments
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	13,539	$ 12,041
(Release of) provision for credit losses	(285)	1,485
Recoveries	0	13
Ending balance	13,254
Loans Excluding Unfunded Commitments | C&I
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	5,978	5,034
(Release of) provision for credit losses	(68)	931
Recoveries	0	13
Ending balance	5,910
Loans Excluding Unfunded Commitments | CRE
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	940	1,031
(Release of) provision for credit losses	77	(91)
Recoveries	0	0
Ending balance	1,017
Loans Excluding Unfunded Commitments | Faith-based CRE
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	6,437	5,684
(Release of) provision for credit losses	(314)	753
Recoveries	0	0
Ending balance	6,123
Loans Excluding Unfunded Commitments | Construction
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	184	292
(Release of) provision for credit losses	20	(108)
Recoveries	0	$ 0
Ending balance	$ 204

Loans by Type (Details) - TDM L

Loans by Type (Details) - TDM Loans $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Financing Receivable, Past Due [Line Items]
Percentage of Total Loans Held for Investment	1.05%
Payment Delay
Financing Receivable, Past Due [Line Items]
Modified loans	$ 0
Term Extension
Financing Receivable, Past Due [Line Items]
Modified loans	11,225
Interest Rate Reduction
Financing Receivable, Past Due [Line Items]
Modified loans	0
Combination Term Extension and Interest Rate Reduction
Financing Receivable, Past Due [Line Items]
Modified loans	$ 0
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Percentage of Total Loans Held for Investment	2.04%
Commercial and industrial | Payment Delay
Financing Receivable, Past Due [Line Items]
Modified loans	$ 0
Commercial and industrial | Term Extension
Financing Receivable, Past Due [Line Items]
Modified loans	11,225
Commercial and industrial | Interest Rate Reduction
Financing Receivable, Past Due [Line Items]
Modified loans	0
Commercial and industrial | Combination Term Extension and Interest Rate Reduction
Financing Receivable, Past Due [Line Items]
Modified loans	$ 0

Loans by Type (Details) - TDRs

Loans by Type (Details) - TDRs $ in Thousands	Mar. 31, 2023 USD ($)
Financing Receivable, Past Due [Line Items]
Modified loans	$ 0
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Modified loans	0
Current
Financing Receivable, Past Due [Line Items]
Modified loans	11,225
Current | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Modified loans	11,225
30-59 Days
Financing Receivable, Past Due [Line Items]
Modified loans	0
30-59 Days | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Modified loans	0
60-89 Days
Financing Receivable, Past Due [Line Items]
Modified loans	0
60-89 Days | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Modified loans	0
90 Days and Over
Financing Receivable, Past Due [Line Items]
Modified loans	0
90 Days and Over | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Modified loans	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Allowance for unfunded commitments	$ 177	$ 232
Unused loan commitments	233,900
Financial Standby Letter of Credit
Loss Contingencies [Line Items]
Letters of credit	14,300
Stand by Letters Of Credit Member
Loss Contingencies [Line Items]
Letters of credit	$ 1,200

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,950	$ 1,340
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	35,035
Unrecognized compensation expense	$ 2,200
Unrecognized compensation expense, period for recognition	10 months 13 days
Nonvested awards shares outstanding (in shares)	220,367		205,565
Restricted Stock | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted Stock | Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Restricted Stock | Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	35,035
Performance-based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	48,262
Award vesting period	3 years
Percentage of target opportunity for awards to vest	86.70%
Shares issued in period (in shares)	26,499
Nonvested awards shares outstanding (in shares)	156,480		138,785
Performance-based Restricted Stock | Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	48,262
Performance-based Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target opportunity for awards to vest	0%
Performance-based Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target opportunity for awards to vest	150%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Restricted Stock Activity (Details) - Restricted Stock	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares) | shares	205,565
Granted (in shares) | shares	35,035
Vested (in shares) | shares	(20,233)
Forfeitures (in shares) | shares	0
Ending balance (in shares) | shares	220,367
Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 42.64
Granted (in dollars per share) | $ / shares	48.68
Vested (in dollars per share) | $ / shares	54.02
Forfeitures (in dollars per share) | $ / shares	0
Ending balance (in dollars per share) | $ / shares	$ 42.56

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of PBRS Activity (Details) - Performance-based Restricted Stock	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares) | shares	138,785
Granted (in shares) | shares	48,262
Vested (in shares) | shares	(30,567)
Forfeitures (in shares) | shares	0
Ending balance (in shares) | shares	156,480
Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 43.19
Granted (in dollars per share) | $ / shares	48.89
Vested (in dollars per share) | $ / shares	54.02
Forfeitures (in dollars per share) | $ / shares	0
Ending balance (in dollars per share) | $ / shares	$ 42.83

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Company's SARs Activity (Details) - SARs - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2022	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning balance (in shares)	46,325
Exercised (in shares)	(15,916)
Ending balance (in shares)	30,409
Fair Value
Beginning balance (in dollars per share)	$ 41.62
Exercised (in dollars per share)	31.92
Ending balance (in dollars per share)	$ 46.70
Outstanding, average remaining contractual term (in years)	10 months 2 days	8 months 23 days
Aggregate intrinsic value	$ 0		$ 192

Defined Pension Plans - Narrati

Defined Pension Plans - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Net periodic cost (benefit)	$ 135	$ 618	$ (2,564)
Contributions	0
Supplemental Employee Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Net periodic cost (benefit)	$ 118	$ 107	$ 426

Defined Pension Plans - Schedul

Defined Pension Plans - Schedule of Net Periodic Pension Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Interest cost on projected benefit obligation				$ 3,293
Expected return on plan assets				(5,857)
Net periodic pension (benefit) cost	$ 135	$ 618		(2,564)
Pension Plan | Forecast
Defined Benefit Plan Disclosure [Line Items]
Interest cost on projected benefit obligation			$ 4,375
Expected return on plan assets			(3,977)
Net periodic pension (benefit) cost			398
Supplemental Employee Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Interest cost on projected benefit obligation				318
Net amortization				108
Net periodic pension (benefit) cost	$ 118	$ 107		$ 426
Supplemental Employee Retirement Plan | Forecast
Defined Benefit Plan Disclosure [Line Items]
Interest cost on projected benefit obligation			472
Net amortization			0
Net periodic pension (benefit) cost			$ 472

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	20.70%	19.60%

Investment in Securities - Sche

Investment in Securities - Schedule of Investment Securities (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Marketable Securities [Line Items]
Amortized Cost	$ 764,474,000	$ 825,047,000
Gross Unrealized Gains	71,000	54,000
Gross Unrealized Losses	61,508,000	70,633,000
Fair Value	703,037,000	754,468,000
AFS, Less than 12 months, Estimated Fair Value	254,371,000	456,451,000
AFS, Less than 12 months, Unrealized Losses	3,599,000	22,374,000
AFS, 12 months or more, Estimated Fair Value	398,519,000	260,284,000
AFS, 12 months or more, Unrealized Losses	57,909,000	48,259,000
Debt Securities, Available-for-sale, Unrealized Loss Position	652,890,000	716,735,000
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	61,508,000	70,633,000
State and political subdivisions
Marketable Securities [Line Items]
Amortized Cost	247,798,000	317,376,000
Gross Unrealized Gains	52,000	54,000
Gross Unrealized Losses	17,568,000	22,304,000
Fair Value	230,282,000	295,126,000
AFS, Less than 12 months, Estimated Fair Value	80,551,000	214,919,000
AFS, Less than 12 months, Unrealized Losses	387,000	8,958,000
AFS, 12 months or more, Estimated Fair Value	114,603,000	47,474,000
AFS, 12 months or more, Unrealized Losses	17,181,000	13,346,000
Debt Securities, Available-for-sale, Unrealized Loss Position	195,154,000	262,393,000
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	17,568,000	22,304,000
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises
Marketable Securities [Line Items]
Amortized Cost	201,094,000	205,175,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	29,554,000	31,236,000
Fair Value	171,540,000	173,939,000
AFS, Less than 12 months, Estimated Fair Value	12,346,000	53,732,000
AFS, Less than 12 months, Unrealized Losses	443,000	6,135,000
AFS, 12 months or more, Estimated Fair Value	159,194,000	118,017,000
AFS, 12 months or more, Unrealized Losses	29,111,000	25,101,000
Debt Securities, Available-for-sale, Unrealized Loss Position	171,540,000	171,749,000
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	29,554,000	31,236,000
Corporate bonds
Marketable Securities [Line Items]
Amortized Cost	111,290,000	96,348,000
Gross Unrealized Gains	19,000	0
Gross Unrealized Losses	9,643,000	11,251,000
Fair Value	101,666,000	85,097,000
AFS, Less than 12 months, Estimated Fair Value	5,000,000	32,517,000
AFS, Less than 12 months, Unrealized Losses	0	3,629,000
AFS, 12 months or more, Estimated Fair Value	81,647,000	47,580,000
AFS, 12 months or more, Unrealized Losses	9,643,000	7,622,000
Debt Securities, Available-for-sale, Unrealized Loss Position	86,647,000	80,097,000
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	9,643,000	11,251,000
Treasury securities
Marketable Securities [Line Items]
Amortized Cost	159,244,000	158,935,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	2,769,000	3,652,000
Fair Value	156,475,000	155,283,000
AFS, Less than 12 months, Estimated Fair Value	156,474,000	155,283,000
AFS, Less than 12 months, Unrealized Losses	2,769,000	3,652,000
AFS, 12 months or more, Estimated Fair Value	0	0
AFS, 12 months or more, Unrealized Losses	0	0
Debt Securities, Available-for-sale, Unrealized Loss Position	156,474,000	155,283,000
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	2,769,000	3,652,000
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises
Marketable Securities [Line Items]
Amortized Cost	45,048,000	47,213,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	1,974,000	2,190,000
Fair Value	43,074,000	45,023,000
AFS, Less than 12 months, Estimated Fair Value	0	0
AFS, Less than 12 months, Unrealized Losses	0	0
AFS, 12 months or more, Estimated Fair Value	43,075,000	47,213,000
AFS, 12 months or more, Unrealized Losses	1,974,000	2,190,000
Debt Securities, Available-for-sale, Unrealized Loss Position	43,075,000	47,213,000
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ 1,974,000	$ 2,190,000

Investment in Securities - Narr

Investment in Securities - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) security	Mar. 31, 2022 USD ($)	Dec. 31, 2022 security
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities, number of positions | security	250		311
Available-for-sale securities, percentage of total securities	86.80%		29.80%
Available-for-sale securities, number of positions, greater than one year | security	176		101
Proceeds from sales of securities available-for-sale | $	$ 61,418	$ 0
Available-for-sale securities, gross realized gains | $	$ 39	$ 0

Investment in Securities - Sc_2

Investment in Securities - Schedule of the Fair Values of Securities with Unrealized Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	$ 254,371	$ 456,451
AFS, Less than 12 months, Unrealized Losses	3,599	22,374
AFS, 12 months or more, Estimated Fair Value	398,519	260,284
AFS, 12 months or more, Unrealized Losses	57,909	48,259
AFS, Total Estimated Fair Value	652,890	716,735
AFS, Total Unrealized Losses	61,508	70,633
State and political subdivisions
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	80,551	214,919
AFS, Less than 12 months, Unrealized Losses	387	8,958
AFS, 12 months or more, Estimated Fair Value	114,603	47,474
AFS, 12 months or more, Unrealized Losses	17,181	13,346
AFS, Total Estimated Fair Value	195,154	262,393
AFS, Total Unrealized Losses	17,568	22,304
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	12,346	53,732
AFS, Less than 12 months, Unrealized Losses	443	6,135
AFS, 12 months or more, Estimated Fair Value	159,194	118,017
AFS, 12 months or more, Unrealized Losses	29,111	25,101
AFS, Total Estimated Fair Value	171,540	171,749
AFS, Total Unrealized Losses	29,554	31,236
Corporate bonds
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	5,000	32,517
AFS, Less than 12 months, Unrealized Losses	0	3,629
AFS, 12 months or more, Estimated Fair Value	81,647	47,580
AFS, 12 months or more, Unrealized Losses	9,643	7,622
AFS, Total Estimated Fair Value	86,647	80,097
AFS, Total Unrealized Losses	9,643	11,251
Treasury securities
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	156,474	155,283
AFS, Less than 12 months, Unrealized Losses	2,769	3,652
AFS, 12 months or more, Estimated Fair Value	0	0
AFS, 12 months or more, Unrealized Losses	0	0
AFS, Total Estimated Fair Value	156,474	155,283
AFS, Total Unrealized Losses	2,769	3,652
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	0	0
AFS, Less than 12 months, Unrealized Losses	0	0
AFS, 12 months or more, Estimated Fair Value	43,075	47,213
AFS, 12 months or more, Unrealized Losses	1,974	2,190
AFS, Total Estimated Fair Value	43,075	47,213
AFS, Total Unrealized Losses	$ 1,974	$ 2,190

Investment in Securities - Sc_3

Investment in Securities - Schedule of Amortized Cost and Fair Value of Investment Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Amortized Cost
Due in 1 year or less	$ 86,522
Due after 1 year through 5 years	221,691
Due after 5 years through 10 years	205,475
Due after 10 years	250,786
Amortized Cost	764,474	$ 825,047
Fair Value
Due in 1 year or less	85,645
Due after 1 year through 5 years	218,313
Due after 5 years through 10 years	182,676
Due after 10 years	216,403
Total	$ 703,037	$ 754,468

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Balance sheet assets:
Investment securities	$ 703,037	$ 754,468
Carrying Amount
Balance sheet assets:
Accrued interest receivable	7,508	8,297
Total	1,978,142	2,033,074
Balance sheet liabilities:
Accrued interest payable	176	66
Total	2,167,761	2,324,883
Fair Value
Balance sheet assets:
Cash and cash equivalents	210,478	200,942
Investment securities	703,037	754,468
Loans, net	977,053	1,004,682
Accrued interest receivable	7,508	8,297
Total	1,898,076	1,968,389
Balance sheet liabilities:
Deposits	1,116,150	1,257,217
Accounts and drafts payable	1,051,435	1,067,600
Accrued interest payable	176	66
Total	$ 2,167,761	$ 2,324,883

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue, Performance Obligation [Abstract]
Fee revenues, in-scope of FASB ASC 606	$ 31,036	$ 29,997
Other income (out-of-scope of FASB ASC 606)	1,071	433
Total fee revenue and other income	32,107	30,430
Processing fees
Revenue, Performance Obligation [Abstract]
Fee revenues, in-scope of FASB ASC 606	19,513	19,036
Financial fees
Revenue, Performance Obligation [Abstract]
Fee revenues, in-scope of FASB ASC 606	11,259	10,532
Information services payment and processing revenue
Revenue, Performance Obligation [Abstract]
Fee revenues, in-scope of FASB ASC 606	30,772	29,568
Bank service fees
Revenue, Performance Obligation [Abstract]
Fee revenues, in-scope of FASB ASC 606	$ 264	$ 429

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Leases [Abstract]
Operating lease, liability	$ 9,250
Operating lease, right-of-use asset	$ 8,900
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets
Operating lease, cost	$ 357
Short-term lease, cost	53
Variable lease, cost	$ 0
Operating lease, weighted average remaining lease term	8 years
Operating lease, weighted average discount rate, percent	3.58%

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Maturity (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Lease payments due
Less than 1 year	$ 1,349
1-2 years	1,326
2-3 years	1,352
3-4 years	1,347
4-5 years	1,364
Over 5 years	3,875
Total undiscounted cash flows	10,613
Discount on cash flows	1,363
Total lease liability	$ 9,250