Selected Financial Data (in thousands except number of employees)
|
6/30/2023
|
3/31/2023
|
6/30/2022
|
Commentary
|
|||||||||
Scheduled CD maturities for subsequent quarter
|
$
|
152,562
|
$
|
156,886
|
$
|
196,280
|
|||||||
Average rate scheduled CD maturities for subsequent quarter
|
3.00
|
%
|
2.38
|
%
|
0.62
|
%
|
|||||||
Loan rate (excludes fees), Qtr-End
|
7.99
|
%
|
7.91
|
%
|
4.45
|
%
|
|||||||
Cost of total deposits, Qtr-End
|
2.76
|
%
|
2.31
|
%
|
0.22
|
%
|
|||||||
Cost of interest-bearing DDAs, Qtr-End
|
3.62
|
%
|
3.12
|
%
|
0.31
|
%
|
|||||||
Cost of interest-bearing deposits, Qtr-End
|
3.60
|
%
|
3.08
|
%
|
0.37
|
%
|
|||||||
Noninterest bearing DDA balances, Qtr-End
|
$
|
2,855,102
|
$
|
2,898,736
|
$
|
4,686,511
|
|||||||
Reserve for unfunded commitments, Qtr-End
|
$
|
575
|
$
|
575
|
$
|
1,600
|
|||||||
Credit card spend QTD
|
$
|
277,822
|
$
|
259,592
|
$
|
263,888
|
|||||||
Credit card net income QTD
|
$
|
2,406
|
$
|
1,689
|
$
|
2,672
|
|||||||
Merchant services fees QTD
|
$
|
581
|
$
|
455
|
$
|
471
|
|||||||
Mortgage banking income QTD
|
$
|
696
|
$
|
442
|
$
|
614
|
|||||||
FDIC insurance QTD
|
$
|
2,000
|
$
|
1,275
|
$
|
960
|
|||||||
Write down tax credit investment QTD
|
$
|
2,384
|
$
|
2,716
|
$
|
2,499
|
The write down of our tax credit investment increased non-interest expenses by $2.4 million during the 2nd quarter 2023, but was offset by an income tax reduction of $3.8
million.
|
||||||
Salaries & employee benefits QTD
|
$
|
18,795
|
$
|
19,066
|
$
|
20,734
|
|||||||
Other operating expense
|
$
|
6,224
|
$
|
6,702
|
$
|
7,253
|
|||||||
Third party processing and other services QTD
|
$
|
6,198
|
$
|
7,284
|
$
|
6,345
|
FRB service charges related to correspondent bank settlement activities decreased $900,000 quarter/quarter.
|
||||||
Equipment and occupancy expense QTD
|
$
|
3,421
|
$
|
3,435
|
$
|
2,983
|
|||||||
Business meals QTD
|
$
|
54
|
$
|
532
|
$
|
293
|
|||||||
Earnings retention YTD
|
73
|
%
|
74
|
%
|
79
|
%
|
|||||||
Number of employees
|
583
|
581
|
550
|
||||||||||
QTD tax rate
|
17.38
|
%
|
18.07
|
%
|
18.83
|
%
|
|||||||
YTD tax rate
|
17.74
|
%
|
18.07
|
%
|
18.89
|
%
|