In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Interest income: |
Interest income on loans | 173.5 | 155.7 | 174.3 | 183.6 | 147.5 | 112.3 | 91.6 | 75.4 |
Interest income on investments | 62.2 | 37.7 | 25.3 | 24.7 | 18.7 | 16.2 | 15.0 | 13.2 |
| 236.0 | 194.1 | 200.0 | 208.3 | 166.2 | 128.5 | 106.5 | 88.6 |
Interest expense: |
Interest on deposits | 17.8 | 7.9 | 18.6 | 33.7 | 18.2 | 7.9 | 6.6 | 5.6 |
Interest on borrowings | 12.5 | 4.7 | 11.4 | 10.7 | 11.0 | 6.2 | | |
| 36.5 | 18.3 | 34.4 | 47.5 | 31.6 | 16.4 | 20.5 | 13.9 |
Net interest income | 199.5 | 175.8 | 165.5 | 160.8 | 134.6 | 112.1 | 86.0 | 74.7 |
Provision for loan losses | | | | | 2.9 | 2.5 | 1.8 | 3.2 |
Net interest income after provision for loan losses | 199.5 | 175.8 | 165.5 | 160.8 | 131.7 | 109.6 | 84.2 | 71.6 |
Deposit and loan fees | 11.6 | 9.2 | 8.8 | 10.0 | 7.8 | 6.4 | 5.8 | 4.8 |
Gain on sale of investments, net | | | | | | | | 0.2 |
Other non-interest income | 35.9 | 48.8 | 50.8 | 33.1 | 26.7 | 26.8 | 29.7 | 23.4 |
Total non-interest income | 47.5 | 58.0 | 59.6 | 43.1 | 34.4 | 33.1 | 35.5 | 28.4 |
Non-interest expenses | 143.2 | 133.4 | 126.0 | 122.0 | 102.5 | 94.8 | 86.9 | 72.2 |
Pre-tax income before non-recurring items | 106.6 | 104.7 | 79.5 | 80.6 | 64.2 | 48.3 | 33.4 | 28.2 |
Non-recurring items | 1.0 | 2.3 | 1.2 | 0.7 | 0.7 | 0.4 | 0.7 | 0.4 |
Pre-tax income | 105.6 | 102.4 | 78.4 | 79.8 | 63.6 | 48.0 | 32.7 | 27.8 |
Income taxes | 12.2 | 15.4 | 9.9 | 13.3 | 10.4 | 14.8 | 8.8 | 7.2 |
Tax rate | 11.5% | 15.0% | 12.6% | 16.7% | 16.4% | 30.9% | 26.9% | 26.0% |
Net income | 93.4 | 87.1 | 68.5 | 66.5 | 53.1 | 33.1 | 23.9 | 20.4 |
Net margin | 37.8% | 37.3% | 30.4% | 32.6% | 32.0% | 23.2% | 20.0% | 20.4% |
|
Basic EPS | $2.14 | $1.99 | $1.56 | $1.53 | $1.39 | $0.96 | $0.80 | $1.30 |
Diluted EPS | $2.14 | $1.98 | $1.55 | $1.53 | $1.38 | $0.95 | $0.79 | $1.26 |
|
Shares outstanding (basic) | 43.6 | 43.8 | 44.0 | 43.5 | 38.3 | 34.6 | 30.0 | 15.8 |
Shares outstanding (diluted) | 43.7 | 44.0 | 44.1 | 43.6 | 38.5 | 34.8 | 30.1 | 16.2 |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |