0000708781-23-000012 | 10-K | XBRL Viewer | Cass Information Systems INC

Interest-Bearing Deposits

12 Months Ended

Dec. 31, 2022

Interest-Bearing Deposits [Abstract]

Interest-bearing deposits consist of the following:


	December 31,
(In thousands)	2022			2021
Interest-bearing demand deposits	$	567,426		$	573,567
Savings deposits	6,413			18,110
Time deposits:
Less than $100	2,526			3,536
$100 to less than $250	20,137			30,648
$250 or more (1)	17,958			13,000
Total	$	614,460		$	638,861
Weighted average interest rate	1.74		%	0.15		%

(1)The scheduled maturities of time deposits not covered by deposit insurance consist of $17.7 million within one year and $264,000 within one to three years.

Interest expense consists of the following:


	December 31,
(In thousands)	2022		2021		2020
Interest-bearing demand deposits	$	3,118	$	582	$	1,313
Savings deposits	38		9		24
Time deposits:
Less than $100	145		332		550
$100 to less than $250	79		109		206
$250 or more	102		139		267
Total	$	3,482	$	1,171	$	2,360

The scheduled maturities of time deposits are summarized as follows:


	December 31,
	2022				2021
(In thousands)	Amount		Percent of Total		Amount		Percent of Total
Due within:
One year	$	37,925	93.4	%	$	30,855	65.4	%
Two years	1,773		4.4	%	15,061		31.9	%
Three years	797		2.0	%	1,205		2.6	%
Four years	88		0.2	%	48		0.1	%
Five years	38		0.1	%	15		—	%
Total	$	40,621	100.0	%	$	47,184	100.0	%

Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

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.

The following table presents non-interest income, segregated by revenue streams in-scope and out-of-scope of ASC 606, Revenue from Contracts with Customers ("ASC 606") for the years ended December 31, 2022, 2021 and 2020.


	For the Years Ended December 31,
(In thousands)	2022		2021		2020
Fee revenue and other income
In-scope of ASC 606
Processing fees	$	76,470	$	74,589	$	74,638
Financial fees	43,757		32,733		23,107
Information services payment and processing revenue	120,227		107,322		97,745
Bank service fees	1,430		1,369		1,158
Fee revenue (in-scope of ASC 606)	121,657		108,691		98,903
Other income (out-of-scope of ASC 606)	3,325		1,000		1,538
Total fee revenue and other income	$	124,982	$	109,691	$	100,441

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Acquired Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Acquired Intangible Assets

The Company accounts for intangible assets in accordance with FASB 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.

In June 2022, the Company acquired the assets of mobile church management software developer TouchPoint, a division of the Pursuant Group, Inc., and recorded intangible assets of $5.3 million. Those intangible assets were valued at $3.0 million for goodwill, $1.7 million for the customer list, $368,000 for software, and $183,000 for the trade name. The goodwill is deductible for tax purposes over 15 years, starting in 2022. The intangible assets and financial results of TouchPoint are included in the Information Services operating segment.

The purchase price of the acquisition consisted of cash considerations of $4.9 million and potential contingent consideration in the form of an earn out up to $2.5 million. The Company valued the contingent earn out component at $389,000. The fair value of the contingent consideration was estimated on the acquisition date as the present value of the expected future contingent payments which were determined using a Monte Carlo simulation. The contingent consideration is based upon 4 years of earnings before interest, taxes, depreciation and amortization (EBITDA) subsequent to the acquisition date. The Company and Pursuant Group, Inc. agreed to settle the contingent consideration at the determined fair

value of $389,000 during the fourth quarter of 2022. As such, there is no contingent consideration related to TouchPoint going forward.

Details of the Company’s intangible assets are as follows:


	December 31, 2022				December 31, 2021
(In thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Assets eligible for amortization:
Customer lists	$	6,470	$	(4,561)	$	4,778	$	(4,341)
Patent	72		(32)		72		(28)
Software	3,212		(1,508)		2,844		(1,104)
Trade Name	373		(42)		190		(22)
Other	500		(358)		500		(325)
Unamortized intangible assets:
Goodwill	17,309		—		14,262		—
Total intangible assets	$	27,936	$	(6,501)	$	22,646	$	(5,820)

Customer lists are amortized over 7 to 10 years; patents over 18 years, software over 3 years to 7 years, trade name over 10 years to 20 years and other intangible assets over 15 years. Amortization of intangible assets amounted to $680,000 and $859,000 for the years ended December 31, 2022, and 2021, respectively. Estimated future amortization of intangibles is $780,000 in 2023, $738,000 in 2024, $730,000 in 2025, $582,000 in 2026, and $262,000 in 2027.

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
Federal	$ 7,794	$ 5,018	$ 5,350
State	1,365	897	671
Deferred:
Federal	(990)	(608)	(636)
State	(173)	(90)	(220)
Total income tax expense	$ 7,996	$ 5,217	$ 5,165

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Disclosures about Fair Value of Financial Instruments - Summary of the Company's Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Balance sheet assets:
Fair Value	$ 754,468	$ 673,453
Carrying Amount
Balance sheet assets:
Cash and cash equivalents	200,942	514,928
Fair Value	754,468	673,453
Loans, net	1,069,367	948,526
Accrued interest receivable	8,297	6,799
Total	2,033,074	2,143,706
Balance sheet liabilities:
Deposits	1,257,217	1,221,503
Accounts and drafts payable	1,067,600	1,050,396
Accrued interest payable	66	16
Total	2,324,883	2,271,915
Fair Value
Balance sheet assets:
Cash and cash equivalents	200,942	514,928
Fair Value	754,468	673,453
Loans, net	1,004,682	948,701
Accrued interest receivable	8,297	6,799
Total	1,968,389	2,143,881
Balance sheet liabilities:
Deposits	1,257,217	1,221,503
Accounts and drafts payable	1,067,600	1,050,396
Accrued interest payable	66	16
Total	$ 2,324,883	$ 2,271,915

Capital Requirements and Regulatory Restrictions

12 Months Ended

Dec. 31, 2022

Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]

Capital Requirements and Regulatory Restrictions

The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can result in certain mandatory, and possibly additional

discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Company’s and the Bank’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

Quantitative measures established by regulators to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios of total and Tier I capital and common equity Tier I capital to risk-weighted assets, and of Tier I capital to average assets. Management believes that as of December 31, 2022 and 2021, the Company and the Bank met all capital adequacy requirements to which they are subject.

The Bank is also subject to the regulatory framework for prompt corrective action. As of December 31, 2022, the most recent notification from the regulatory agencies categorized the Bank as well-capitalized. To be categorized as well-capitalized, the Bank must maintain minimum total risk-based, common equity Tier I risk-based, Tier I risk-based, and Tier I leverage ratios as set forth in the table below. There are no conditions or events since that notification that management believes have changed the Bank’s category.

The Company has traditionally paid a quarterly cash dividend to its shareholders. Subsidiary dividends can be a significant source of funds for payment of dividends by the Company to its shareholders. Banking regulations may limit the amount of dividends that may be paid. Approval by regulatory authorities is required if the effect of dividends declared would cause the regulatory capital of the Bank to fall below specified minimum levels. Approval is also required if dividends declared exceed the net profits for that year combined with the retained net profits for the preceding two years. Under the foregoing dividend restrictions and while maintaining its “well capitalized” status, at December 31, 2022, unappropriated retained earnings of $29.2 million were available at the Bank for the declaration of dividends to the Company without prior approval from regulatory authorities. In addition to regulatory requirements and considerations, any payment of dividends in the future will depend on the Company’s earnings, financial condition and other factors considered relevant by the Company’s Board of Directors.

There were no restricted funds on deposit used to meet regulatory reserve requirements at December 31, 2022 and 2021.

The Company’s and the Bank’s actual and required capital amounts and ratios are as follows:


	Actual				Capital Requirements				Requirement to be Well-Capitalized
(In thousands)	Amount		Ratio		Amount		Ratio		Amount	Ratio
At December 31, 2022
Total capital (to risk-weighted assets)
Cass Information Systems, Inc.	$	257,313	13.52	%	$	152,306	8.00	%	$ N/A	N/A %
Cass Commercial Bank	186,075		16.00		93,044		8.00		116,305	10.00
Common Equity Tier I Capital (to risk-weighted assets)
Cass Information Systems, Inc.	243,774		12.80		85,672		4.50		N/A	N/A
Cass Commercial Bank	172,848		14.86		52,337		4.50		75,598	6.50
Tier I capital (to risk-weighted assets)
Cass Information Systems, Inc.	243,774		12.80		114,229		6.00		N/A	N/A
Cass Commercial Bank	172,848		14.86		69,783		6.00		93,044	8.00
Tier I capital (to average assets)
Cass Information Systems, Inc.	243,774		9.52		102,386		4.00		N/A	N/A
Cass Commercial Bank	172,848		10.77		64,196		4.00		80,245	5.00
At December 31, 2021
Total capital (to risk-weighted assets)
Cass Information Systems, Inc.	$	240,265	14.86	%	$	129,339	8.00	%	$ N/A	N/A %
Cass Commercial Bank	174,614		17.21		81,163		8.00		101,454	10.00
Common Equity Tier I Capital (to risk-weighted assets)
Cass Information Systems, Inc.	228,224		14.11		72,764		4.50		N/A	N/A
Cass Commercial Bank	163,030		16.07		45,654		4.50		65,945	6.50
Tier I capital (to risk-weighted assets)
Cass Information Systems, Inc.	228,224		14.11		97,019		6.00		N/A	N/A
Cass Commercial Bank	163,030		16.07		60,872		6.00		81,163	8.00
Tier I capital (to average assets)
Cass Information Systems, Inc.	228,224		9.21		99,163		4.00		N/A	N/A
Cass Commercial Bank	163,030		11.05		59,036		4.00		73,795	5.00

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Interest-Bearing Deposits - Schedule of Interest-bearing Deposits (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Interest-Bearing Deposits [Abstract]
Interest-bearing demand deposits	$ 567,426,000	$ 573,567,000
Savings deposits	6,413,000	18,110,000
Time deposits:
Less than $100	2,526,000	3,536,000
$100 to less than $250	20,137,000	30,648,000
$250 or more (1)	17,958,000	13,000,000
Total	$ 614,460,000	$ 638,861,000
Weighted average interest rate	1.74%	0.15%
Uninsured scheduled maturities, year one	$ 17,700,000
Uninsured scheduled maturities, year one through three	$ 264,000

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Allowance for credit losses	$ 3,222	$ 2,866
ASC 715 pension funding liability	1,594	1,952
Supplemental executive retirement plan accrual	2,311	2,293
Stock compensation	2,745	1,875
Unrealized loss on investment securities available-for-sale (1)	16,798	0
Research and development expenses	772	0
Lease liability	2,261	1,145
Other	640	633
Total deferred tax assets	30,343	10,764
Deferred tax liabilities:
Premises and equipment	(1,710)	(2,235)
Pension	(1,141)	(531)
Intangible assets	(1,744)	(1,493)
Unrealized gain on investment securities available-for-sale	0	(2,185)
Right of use asset	(2,178)	(1,032)
Prepaid expenses	(847)	(479)
Other	(144)	(18)
Total deferred tax liabilities	(7,764)	(7,973)
Net deferred tax assets	$ 22,579	$ 2,791

Other Operating Expense (Details) - USD ($) $ in Thousands	12 Months Ended
Other Operating Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Income and Expenses [Abstract]
Promotional expense	$ 2,889	$ 2,627	$ 2,184
Outside service fees	7,874	7,413	5,845
Data processing services	3,365	2,650	1,900
Other	7,950	4,053	5,458
Total other operating expense	$ 22,078	$ 16,743	$ 15,387

Loans

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Loans

The Company originates commercial, industrial and real estate loans to businesses and faith-based ministries throughout the metropolitan St. Louis, Missouri area, Colorado Springs, Colorado and other selected cities in the United States. The Company does not have any particular concentration of credit in any one economic sector; however, a substantial portion of the commercial and industrial loans is extended to privately-held commercial companies and franchises in these market areas and are generally secured by the assets of the business. The Company also has a substantial portion of real estate loans secured by mortgages that are extended to faith-based ministries in its market area and selected cities in the United States.

A summary of loan categories is as follows:


	December 31,
(In thousands)	2022		2021
Commercial and industrial	$	561,616	$	450,336
Real estate:
Commercial:
Mortgage	108,166		108,759
Construction	17,874		24,797
Faith-based:
Mortgage	387,114		355,582
Construction	8,094		14,664
PPP	—		6,299
Other	42		130
Total loans	$	1,082,906	$	960,567

The following table presents the aging of loans by loan categories at December 31, 2022:


	Performing						Nonperforming
(In thousands)	Current		30-59 Days		60-89 Days		90 Days and Over		Non- accrual		Total Loans
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
PPP	—		—		—		—		—		—
Other	42		—		—		—		—		42
Total	$	1,081,756	$	—	$	—	$	—	$	1,150	$	1,082,906

The following table presents the aging of loans by loan categories at December 31, 2021:


	Performing						Nonperforming
(In thousands)	Current		30-59 Days		60-89 Days		90 Days and Over		Non- accrual		Total Loans
Commercial and industrial	$	450,336	$	—	$	—	$	—	$	—	$	450,336
Real estate
Commercial:
Mortgage	108,759		—		—		—		—		108,759
Construction	24,797		—		—		—		—		24,797
Faith-based:
Mortgage	355,582		—		—		—		—		355,582
Construction	14,664		—		—		—		—		14,664
PPP	6,299		—		—		—		—		6,299
Other	130		—		—		—		—		130
Total	$	960,567	$	—	$	—	$	—	$	—	$	960,567

The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of 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
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
PPP	—		—		—		—
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 and have the apparent ability to satisfy their loan obligation.
(2)			Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a higher level of management attention.

The Company had one loan that was considered an individually evaluated credit at December 31, 2022, with no specific allowance. This loan was paid off in full in January 2023.

The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of December 31, 2021:


(In thousands)	Loans Subject to Normal Monitoring(1)		Performing Loans Subject to Special Monitoring(2)		Nonperforming Loans Subject to Special Monitoring(2)		Total Loans
Commercial and industrial	$	440,607	$	9,729	$	—	$	450,336
Real estate
Commercial:
Mortgage	108,759		—		—		108,759
Construction	24,797		—		—		24,797
Faith-based:
Mortgage	352,717		2,865		—		355,582
Construction	14,664		—		—		14,664
PPP	6,299		—		—		6,299
Other	130		—		—		130
Total	$	947,973	$	12,594	$	—	$	960,567


(1)			Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk and have the apparent ability to satisfy their loan obligation.
(2)			Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a higher level of management attention.

The Company had no loans that were considered individually evaluated credits at December 31, 2021.

There were no loan modifications considered as troubled debt restructurings during the year ended December 31, 2022 and 2021.

Industry Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

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 Note 1 of this report. 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 for the years ended December 31, 2022, 2021 and 2020 is as follows:


(In thousands)	Information Services		Banking Services		Corporate, Eliminations and Other		Total
2022
Fee income	$	120,234	$	3,606	$	1,142	$	124,982
Interest income*	28,528		40,913		(5,426)		64,015
Interest expense	166		4,143		(827)		3,482
Intersegment income (expense)	(3,350)		3,350		—		—

Tax-equivalized pre-tax income*	26,478		21,566		(3,455)		44,589
Goodwill	17,173		136		—		17,309
Other intangible assets, net	4,126		—		—		4,126
Total assets	1,595,939		1,182,439		(205,355)		2,573,023
Average funding sources	1,379,355		953,346		—		2,332,701
2021
Fee income	$	106,678	$	1,405	$	1,608	$	109,691
Interest income*	24,332		24,732		(1,694)		47,370
Interest expense	—		1,171		—		1,171
Intersegment income (expense)	(3,222)		3,222		—		—

Tax-equivalized pre-tax income*	25,446		11,004		(756)		35,694
Goodwill	14,126		136		—		14,262
Other intangible assets, net	2,564		—		—		2,564
Total assets	1,450,594		1,090,626		13,681		2,554,901
Average funding sources	1,150,493		876,018		—		2,026,511
2020
Fee income	$	97,640	$	1,515	$	1,286	$	100,441
Interest income*	20,343		29,494		(261)		49,576
Interest expense	—		2,362		—		2,362
Intersegment income (expense)	(2,315)		2,315		—		—

Tax-equivalized pre-tax income*	16,230		14,973		1,027		32,230
Goodwill	14,126		136		—		14,262
Other intangible assets, net	3,423		—		—		3,423
Total assets	1,188,745		997,483		17,007		2,203,235
Average funding sources	902,486		737,962		—		1,640,448

*Presented on a tax-equivalent basis assuming a tax rate of 21%. The tax-equivalent adjustment was approximately $1.7 million for 2022, $1.9 million for 2021, and $1.9 million for 2020.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Condensed Financial Information of Parent Company (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet

Following are the condensed balance sheets of the Company (parent company only) and the related condensed statements of income and cash flows.


	Condensed Balance Sheets December 31,
(In thousands)	2022		2021
Assets
Cash and due from banks	$	5,081	$	132,050
Short-term investments	26,834		585
Securities available-for-sale, at fair value	490,829		566,835
Loans, net	74,810		40,515
Payments in advance of funding	293,775		291,427
Investments in subsidiaries	164,907		164,650
Premises and equipment, net	19,525		17,443
Accounts and drafts receivable from customers	95,779		4,992
Other assets	119,627		90,948
Total assets	$	1,291,167	$	1,309,445
Liabilities and Shareholders’ Equity
Liabilities:
Accounts and drafts payable	$	1,057,463	$	1,041,070

Other liabilities	27,379		22,577
Total liabilities	1,084,842		1,063,647
Total shareholders’ equity	206,325		245,798
Total liabilities and shareholders’ equity	$	1,291,167	$	1,309,445

Condensed Income Statement


	Condensed Statements of Income For the Years Ended December 31,
(In thousands)	2022		2021		2020
Income from subsidiaries – management fees	$	4,315	$	3,115	$	2,854
Processing fees	74,382		72,579		72,513
Financial fees	42,243		31,847		22,565
Other fees	2,606		970		1,533
Net interest income after provision for (release of) credit losses	13,435		11,316		10,932
Total revenue	136,981		119,827		110,397
Expenses:
Salaries and employee benefits	94,047		80,434		77,577
Other expenses	32,406		27,406		25,347
Total expenses	126,453		107,840		102,924
Income before income tax and equity in undistributed income of subsidiaries	10,528		11,987		7,473
Income tax expense	1,242		635		340
Income before undistributed income of subsidiaries	9,286		11,352		7,133
Equity in undistributed income of subsidiaries	25,618		17,252		18,043
Net income	$	34,904	$	28,604	$	25,176

Condensed Cash Flow Statement


	Condensed Statements of Cash Flows For the Years Ended December 31,
(In thousands)	2022		2021		2020
Cash flows from operating activities:
Net income	$	34,904	$	28,604	$	25,176
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed income of subsidiaries	(25,618)		(17,252)		(18,043)
Net change in other assets	(4,640)		(212)		6,054
Net change in other liabilities	6,462		(9,307)		(6,525)
Stock-based compensation expense	6,732		2,859		2,267
Other, net	25,412		20,921		18,236
Net cash provided by operating activities	43,252		25,613		27,165
Cash flows from investing activities:
Net decrease (increase) in securities	3,064		(226,090)		65,689
Net (increase) decrease in loans	(34,295)		8,799		(2,545)
Net (increase) decrease in payments in advance of funding	(2,347)		(96,864)		11,595
Purchase of bank-owned life insurance	(4,000)		(25,119)		—
Purchases of premises and equipment, net	(5,851)		(2,233)		(1,810)
Asset acquisition of TouchPoint	(4,814)		—		—
Net cash (used in) provided by investing activities	(48,243)		(341,507)		72,929
Cash flows from financing activities:
Net (increase) decrease in accounts and drafts receivable from customers	(90,787)		6		59,404
Net increase in accounts and drafts payable	16,393		208,650		148,935
Short-term borrowings	—		—		(18,000)
Cash dividends paid	(15,442)		(15,446)		(15,599)
Purchase of common shares for treasury	(5,299)		(30,997)		(6,825)
Other financing activities, net	(594)		(850)		(1,098)
Net cash (used in) provided by financing activities	(95,729)		161,363		166,817
Net (decrease) increase in cash and cash equivalents	(100,720)		(154,531)		266,911
Cash and cash equivalents at beginning of year	132,635		287,166		20,255
Cash and cash equivalents at end of year	$	31,915	$	132,635	$	287,166

Other Operating Expense

12 Months Ended

Dec. 31, 2022

Other Income and Expenses [Abstract]

Other Operating Expense

Details of other operating expense are as follows:


	For the Years Ended December 31,
(In thousands)	2022		2021		2020
Promotional expense	$	2,889	$	2,627	$	2,184
Outside service fees	7,874		7,413		5,845
Data processing services	3,365		2,650		1,900
Other	7,950		4,053		5,458
Total other operating expense	$	22,078	$	16,743	$	15,387

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Comprehensive Income:
Net income	$ 34,904	$ 28,604	$ 25,176
Other comprehensive (loss) income:
Net unrealized (loss) gain on securities available-for-sale	(79,746)	(10,447)	6,689
Tax effect	18,981	2,487	(1,592)
Reclassification adjustments for gains included in net income	(15)	(51)	(1,075)
Tax effect	3	12	256
FASB ASC 715 pension adjustment	1,504	11,363	12,548
Tax effect	(358)	(2,705)	(2,987)
Foreign currency translation adjustments	(143)	(191)	66
Other comprehensive (loss) income	(59,774)	468	13,905
Total comprehensive income	$ (24,870)	$ 29,072	$ 39,081

Employee Benefit Plans - Schedule of Long-term Rate of Return on Assets (Details)	12 Months Ended
	Dec. 31, 2022
Core Fixed Income
Defined Benefit Plan Disclosure [Line Items]
% of Total Portfolio	68.50%
One-Year Nominal Return	5.46%
Annual Standard Deviation	10.49%
Large Cap U.S. Equities
Defined Benefit Plan Disclosure [Line Items]
% of Total Portfolio	14.00%
One-Year Nominal Return	7.98%
Annual Standard Deviation	17.66%
International (Developed)
Defined Benefit Plan Disclosure [Line Items]
% of Total Portfolio	10.00%
One-Year Nominal Return	9.07%
Annual Standard Deviation	18.52%
International (Emerging)
Defined Benefit Plan Disclosure [Line Items]
% of Total Portfolio	4.00%
One-Year Nominal Return	11.91%
Annual Standard Deviation	26.71%
Real Estate
Defined Benefit Plan Disclosure [Line Items]
% of Total Portfolio	3.50%
One-Year Nominal Return	7.19%
Annual Standard Deviation	15.13%

Employee Benefit Plans - Schedule of Assumptions used to Determine Net Pension Cost (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Weighted average discount rate	2.85%	2.55%	3.30%
Expected long-term rate of return on assets	6.00%	6.00%	6.50%
Pension Plan, Service After Year Seven
Defined Benefit Plan Disclosure [Line Items]
Rate of increase in compensation levels	6.00%
Pension Plan, Year One Through Seven
Defined Benefit Plan Disclosure [Line Items]
Rate of increase in compensation levels	3.25%

Disclosures about Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Disclosures about Fair Value of Financial Instruments

Following is a summary of the carrying amounts and fair values of the Company’s financial instruments:


	December 31,
	2022				2021
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Balance sheet assets:
Cash and cash equivalents	$	200,942	$	200,942	$	514,928	$	514,928
Investment securities	754,468		754,468		673,453		673,453
Loans, net	1,069,367		1,004,682		948,526		948,701
Accrued interest receivable	8,297		8,297		6,799		6,799
Total	$	2,033,074	$	1,968,389	$	2,143,706	$	2,143,881

Balance sheet liabilities:
Deposits	$	1,257,217	$	1,257,217	$	1,221,503	$	1,221,503
Accounts and drafts payable	1,067,600		1,067,600		1,050,396		1,050,396
Accrued interest payable	66		66		16		16
Total	$	2,324,883	$	2,324,883	$	2,271,915	$	2,271,915

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 Securities The fair value is measured on a recurring basis using Level 2 valuations. Refer to Note 3 - Investment 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 approximates a fair valuation.

Individually assessed loans are valued using the fair value of the collateral which is based upon an observable market price or current appraised value and therefore, the fair value is a nonrecurring Level 3 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 The carrying amount approximates fair value.

Limitations Fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Other significant assets or liabilities that are not considered financial assets or liabilities include premises and equipment and the benefit that results from the low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the market (core deposit intangible). In addition, tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of the estimates.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity

A maturity analysis of operating lease liabilities and undiscounted cash flows as of December 31, 2022 was as follows:


(In thousands)	December 31, 2022
Lease payments due
Less than 1 year	$	1,348
1-2 years	1,327
2-3 years	1,345
3-4 years	1,351
4-5 years	1,357
Over 5 years	4,219
Total undiscounted cash flows	10,947
Discount on cash flows	1,448
Total lease liability	$	9,499

Common Stock and Earnings per Share - Schedule of Common Stock Outstanding (Details)	12 Months Ended
	Dec. 31, 2022 shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding at January 1	13,734,295
Issuance of common stock:
Employee restricted stock grants	18,160
Employee restricted stock units vested	2,002
Performance-based stock vested	11,029
Employee SARs exercised	12,668
Directors’ stock grants	22,699
Shares repurchased	(130,374)
Shares forfeited	(823)
Shares outstanding at December 31	13,669,656

Loans (Tables)

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Summary of Loan Categories

A summary of loan categories is as follows:


	December 31,
(In thousands)	2022		2021
Commercial and industrial	$	561,616	$	450,336
Real estate:
Commercial:
Mortgage	108,166		108,759
Construction	17,874		24,797
Faith-based:
Mortgage	387,114		355,582
Construction	8,094		14,664
PPP	—		6,299
Other	42		130
Total loans	$	1,082,906	$	960,567

Schedule of Debt

The following table presents the aging of loans by loan categories at December 31, 2022:


	Performing						Nonperforming
(In thousands)	Current		30-59 Days		60-89 Days		90 Days and Over		Non- accrual		Total Loans
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
PPP	—		—		—		—		—		—
Other	42		—		—		—		—		42
Total	$	1,081,756	$	—	$	—	$	—	$	1,150	$	1,082,906

The following table presents the aging of loans by loan categories at December 31, 2021:


	Performing						Nonperforming
(In thousands)	Current		30-59 Days		60-89 Days		90 Days and Over		Non- accrual		Total Loans
Commercial and industrial	$	450,336	$	—	$	—	$	—	$	—	$	450,336
Real estate
Commercial:
Mortgage	108,759		—		—		—		—		108,759
Construction	24,797		—		—		—		—		24,797
Faith-based:
Mortgage	355,582		—		—		—		—		355,582
Construction	14,664		—		—		—		—		14,664
PPP	6,299		—		—		—		—		6,299
Other	130		—		—		—		—		130
Total	$	960,567	$	—	$	—	$	—	$	—	$	960,567

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 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
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
PPP	—		—		—		—
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 and have the apparent ability to satisfy their loan obligation.
(2)			Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a higher level of management attention.

The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of December 31, 2021:


(In thousands)	Loans Subject to Normal Monitoring(1)		Performing Loans Subject to Special Monitoring(2)		Nonperforming Loans Subject to Special Monitoring(2)		Total Loans
Commercial and industrial	$	440,607	$	9,729	$	—	$	450,336
Real estate
Commercial:
Mortgage	108,759		—		—		108,759
Construction	24,797		—		—		24,797
Faith-based:
Mortgage	352,717		2,865		—		355,582
Construction	14,664		—		—		14,664
PPP	6,299		—		—		6,299
Other	130		—		—		130
Total	$	947,973	$	12,594	$	—	$	960,567


(1)			Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk and have the apparent ability to satisfy their loan obligation.
(2)			Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a higher level of management attention.

A summary of the ACL by category for the period ended December 31, 2022 is as follows:


(In thousands)	C&I		CRE		Faith-based CRE		Construction		Total
Allowance for credit losses on loans:
Balance at December 31, 2021	$	5,034	$	1,031	$	5,684	$	292	$	12,041


Provision for (release of) credit losses (1)	931		(91)		753		(108)		1,485
Recoveries	13		—		—		—		13
Balance at December 31, 2022	$	5,978	$	940	$	6,437	$	184	$	13,539


(1)			For the period ended December 31, 2022, there was a release of credit losses of $135,000 for unfunded commitments.

A summary of the ACL by category for the period ended December 31, 2021 is as follows:


(In thousands)	C&I		CRE		Faith-based CRE		Construction		Total
Allowance for credit losses on loans:


Balance at January 1, 2020	$	4,635	$	1,175	$	5,717	$	417	$	11,944
Provision for (release of) credit losses (1)	387		(144)		(48)		(125)		70
Recoveries	12		—		15		—		27
Balance at December 31, 2021	$	5,034	$	1,031	$	5,684	$	292	$	12,041


(1)			For the period ended December 31, 2021, there was a release of credit losses of $200,000 for unfunded commitments.

As of December 31, 2022 and 2021, there were no loans to executive officers or directors, or their affiliates.

Summary of ACL by Category

A summary of the ACL by category for the period ended December 31, 2022 is as follows:


(In thousands)	C&I		CRE		Faith-based CRE		Construction		Total
Allowance for credit losses on loans:
Balance at December 31, 2021	$	5,034	$	1,031	$	5,684	$	292	$	12,041


Provision for (release of) credit losses (1)	931		(91)		753		(108)		1,485
Recoveries	13		—		—		—		13
Balance at December 31, 2022	$	5,978	$	940	$	6,437	$	184	$	13,539


(1)			For the period ended December 31, 2022, there was a release of credit losses of $135,000 for unfunded commitments.

A summary of the ACL by category for the period ended December 31, 2021 is as follows:


(In thousands)	C&I		CRE		Faith-based CRE		Construction		Total
Allowance for credit losses on loans:


Balance at January 1, 2020	$	4,635	$	1,175	$	5,717	$	417	$	11,944
Provision for (release of) credit losses (1)	387		(144)		(48)		(125)		70
Recoveries	12		—		15		—		27
Balance at December 31, 2021	$	5,034	$	1,031	$	5,684	$	292	$	12,041


(1)			For the period ended December 31, 2021, there was a release of credit losses of $200,000 for unfunded commitments.

Common Stock and Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Common Stock Outstanding Roll Forward

The table below shows activity in the outstanding shares of the Company’s common stock during 2022.


			2022
Shares outstanding at January 1			13,734,295
Issuance of common stock:
Employee restricted stock grants			18,160
Employee restricted stock units vested			2,002
Performance-based stock vested			11,029
Employee SARs exercised			12,668
Directors’ stock grants			22,699
Shares repurchased			(130,374)
Shares forfeited			(823)
Shares outstanding at December 31			13,669,656

Schedule of Earnings Per Share, Basic and Diluted

The calculations of basic and diluted earnings per share are as follows:


	December 31,
(In thousands except share and per share data)	2022		2021		2020
Basic:
Net income	$	34,904	$	28,604	$	25,176
Weighted average common shares outstanding	13,552,503		14,091,773		14,364,406
Basic earnings per share	$	2.58	$	2.03	$	1.75
Diluted:
Net income	$	34,904	$	28,604	$	25,176
Weighted average common shares outstanding	13,552,503		14,091,773		14,364,406
Effect of dilutive restricted stock, performance based restricted stock (“PBRS”), and SARs	255,526		238,103		202,541
Weighted average common shares outstanding assuming dilution	13,808,029		14,329,876		14,566,947
Diluted earnings per share	$	2.53	$	2.00	$	1.73

Stock-Based Compensation - Summary of PBRS Activity (Details) - Performance-based Restricted Stock	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Shares
Beginning balance (in shares) \| shares	116,543
Granted (in shares) \| shares	57,542
Vested (in shares) \| shares	(34,066)
Forfeitures (in shares) \| shares	(1,234)
Ending balance (in shares) \| shares	138,785
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 46.79
Granted (in dollars per share) \| $ / shares	39.58
Vested (in dollars per share) \| $ / shares	49.05
Forfeited (in dollars per share) \| $ / shares	43.89
Ending balance (in dollars per share) \| $ / shares	$ 43.19

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Restricted Stock Activity

Changes in restricted shares outstanding for the year ended December 31, 2022 were as follows:


	Shares	Weighted Average Grant Date Fair Value
Balance at December 31, 2021	165,553	$	44.81
Granted	64,151	$	39.30
Vested	(23,316)	$	48.85
Forfeited	(823)	$	43.89
Balance at December 31, 2022	205,565	$	42.64

Schedule of Performance Shares Activity

Following is a summary of the activity of the PBRS, based on 100% of target value, for the year ended December 31, 2022:


	Shares	Weighted Average Grant Date Fair Value
Balance at December 31, 2021	116,543	$	46.79
Granted	57,542	39.58
Vested	(34,066)	49.05
Forfeited	(1,234)	43.89
Balance at December 31, 2022	138,785	$	43.19

Schedule of Stock Appreciation Right Activity

Changes in SARs outstanding for the year ended December 31, 2022 were as follows:


	SARs	Weighted Average Exercise Price
Balance at December 31, 2021	117,089	$	34.91
Exercised	(70,764)	30.52

Balance at December 31, 2022	46,325	41.62
Exercisable at December 31, 2022	46,325	$	41.62

Common Stock and Earnings per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Common Stock and Earnings per Share

The table below shows activity in the outstanding shares of the Company’s common stock during 2022.


			2022
Shares outstanding at January 1			13,734,295
Issuance of common stock:
Employee restricted stock grants			18,160
Employee restricted stock units vested			2,002
Performance-based stock vested			11,029
Employee SARs exercised			12,668
Directors’ stock grants			22,699
Shares repurchased			(130,374)
Shares forfeited			(823)
Shares outstanding at December 31			13,669,656

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:


	December 31,
(In thousands except share and per share data)	2022		2021		2020
Basic:
Net income	$	34,904	$	28,604	$	25,176
Weighted average common shares outstanding	13,552,503		14,091,773		14,364,406
Basic earnings per share	$	2.58	$	2.03	$	1.75
Diluted:
Net income	$	34,904	$	28,604	$	25,176
Weighted average common shares outstanding	13,552,503		14,091,773		14,364,406
Effect of dilutive restricted stock, performance based restricted stock (“PBRS”), and SARs	255,526		238,103		202,541
Weighted average common shares outstanding assuming dilution	13,808,029		14,329,876		14,566,947
Diluted earnings per share	$	2.53	$	2.00	$	1.73

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Summary of Operations The Company provides payment and information services, which include processing and payment of transportation, energy, telecommunications and environmental invoices. These services include the acquisition and management of data, information delivery and financial exchange. The consolidated balance sheet captions, “Accounts and drafts payable” and “Payments in advance of funding,” represent the Company’s resulting financial position related to the payment services that are performed for customers. The Company also provides a full range of banking services to individual, corporate and institutional customers through the Bank, its wholly owned bank subsidiary. Basis of Presentation The accounting and reporting policies of the Company and its subsidiaries conform to U.S. GAAP. The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries after elimination of intercompany transactions. Certain amounts in the 2021 and 2020 consolidated financial statements have been reclassified to conform to the 2022 presentation. Such reclassifications have no effect on previously reported net income or shareholders’ equity. Use of Estimates In preparing the consolidated financial statements, Company management is required to make estimates and assumptions which significantly affect the reported amounts in the consolidated financial statements. Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, the Company considers cash and due from banks, interest-bearing deposits in other financial institutions, and federal funds sold and other short-term investments to be cash and cash equivalents. Investment in Debt Securities The Company classifies its investment securities as available-for-sale. Securities classified as available-for-sale are carried at fair value. Unrealized gains and losses, net of the related tax effect, are excluded from earnings and reported in accumulated other comprehensive income, a component of shareholders’ equity. Securities are periodically evaluated for credit losses in accordance with the guidance provided in FASB ASC Topic 326, Financial Instruments – Credit Losses ("ASC 326"). For available for sale investment securities in an unrealized loss position, the entire loss in fair value is required to be recognized in current earnings if the Company intends to sell the securities or believes it likely that it will be required to sell the security before the anticipated recovery. If neither condition is met, and the Company does not expect to recover the amortized cost basis, the Company determines whether the decline in fair value resulted from credit losses or other factors. If the assessment indicates that a credit loss exists, the present value of cash flows expected to be collected is compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss has occurred, and an allowance for credit losses is recorded. The allowance for credit losses is limited by the amount that the fair value is less than the amortized cost basis. Any impairment not recorded through the provision for credit losses would be recognized in other comprehensive income. Changes in the allowance for credit losses would be recorded as a provision for credit losses on the consolidated statements of income. Losses would be charged against the allowance for credit losses on securities when management believes the uncollectibility of an available-for-sale security is confirmed or when either of the conditions regarding intent or requirement to sell is met. Premiums and discounts are amortized or accreted to interest income over the expected lives of the respective securities using the level-yield method. Interest income is recognized when earned. Gains and losses are calculated using the specific identification method. Loans Interest on loans is recognized based upon the principal amounts outstanding. It is the Company’s policy to discontinue the accrual of interest when there is reasonable doubt as to the collectability of principal or interest. Subsequent payments received on such loans are applied to principal if there is any doubt as to the collectability of such principal; otherwise, these receipts are recorded as interest income. The accrual of interest on a loan is resumed when the loan is current as to payment of both principal and interest and/or the borrower demonstrates the ability to pay and remain current. Loan origination and commitment fees on originated loans, net of certain direct loan origination costs, are deferred and amortized to interest income using the level-yield method over the estimated lives of the related loans. Allowance for Credit Losses The ACL is increased by provisions charged to expense and is available to absorb charge-offs, net of recoveries. Management utilizes a systematic, documented approach in determining the appropriate level of the ACL. Management’s approach provides for estimated current expected credit losses on loans in accordance with ASC 326. These estimates are based upon a number of factors, such as payment history, financial condition of the borrower, expected future cash flows and collateral exposure. The ACL is a valuation account that is deducted from the amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the ACL when management believes the uncollectibility of a loan balance is confirmed. Expected recoveries for amounts previously charged off and expected to be charged off do not exceed the aggregate of amounts previously charged off and expected to be charged off. Management estimated the allowance balance using relevant available information from internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts based on economic factors, such as GDP. Historical credit loss experience, of both the Company and similar peer banks, provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for concentration risk, asset quality trends, borrower’s ability to pay, collateral, and other environmental factors. It is difficult to estimate how potential changes in any one economic factor or input might affect the overall ACL because a wide variety of factors and inputs are considered in estimating the allowance and changes in those factors and inputs considered may not occur at the same rate and may not be consistent across all loan types. Additionally, changes in factors and inputs may be directionally inconsistent, such that improvement in one factor may offset deterioration in others. The ACL is measured on a collective pool basis when similar risk characteristics exist. Management believes the ACL is adequate to absorb expected losses in the loan portfolio. Loans The Company has identified the following portfolio segments: Commercial & Industrial (“C&I”) – C&I loans consist of loans to small and medium-sized businesses in a wide variety of industries, franchise lending, and equipment financing to companies of all sizes. These loans are generally collateralized by inventory, accounts receivable, equipment, and other commercial assets, and may be supported by other credit enhancements such as personal guarantees. Risk arises primarily due to a difference between expected and actual cash flows of the borrower. However, the recoverability of these loans is also dependent on other factors primarily dictated by the type of collateral securing these loans. The fair value of the collateral securing these loans may fluctuate as market conditions change. Included within C&I are revolving loans supported by borrowing bases that fluctuate depending on the amount of underlying collateral. Commercial Real Estate (“CRE”) – CRE loans include various types of loans for which the Company holds real property as collateral. Commercial real estate lending activity is typically restricted to owner-occupied properties or to investor properties that are owned by customers with a current banking relationship. The primary risks of CRE loans include the borrower’s inability to pay and material decreases in the value of the real estate being held as collateral. Faith-based CRE – Faith-based CRE loans include loans to faith-based ministries for which the Company holds real property as collateral. The primary risks of faith-based CRE loans include the borrower’s inability to pay and material decreases in the value of the real estate being held as collateral. Construction and Land Development – The Company originates loans to finance construction projects including faith-based and commercial projects. Construction loans are generally collateralized by first liens on the real estate and have floating interest rates. The primary risks of construction loans are construction completion and timing risk. Adverse economic conditions may negatively impact the borrowers’ ability to complete the project. Additionally, the fair value of the underlying collateral may fluctuate as market conditions change. The ACL is calculated as the difference between the amortized cost basis of the loan portfolio and the projections from the weighted-average remaining maturity ("WARM") model that the Company developed. The WARM model utilizes an attrition analysis, including events such as payoffs, matured loans, and renewals in the borrowers’ control, to anticipate the length of time it would take for each portfolio segment to runoff. Management incorporates a one-year GDP forecast and an immediate reversion to peer historical loss rates to determine the annual charge off rates over the estimated life of the loans. After the reasonable and supportable forecast period, the model reverts to long-run historical average loss rates of its peers. However, for the faith-based CRE ACL, beyond the reasonable and supportable forecast period, loss rates are reverted immediately to the Company’s long-run historical averages, as this represents a unique loan segment to the peer portfolios. The economic forecast is based on management’s assessment of the length and pattern of the current economic cycle. The resulting annual charge off rate determined for each year in the WARM model is applied to the loan balances estimated in the attrition analysis. Management accounts for the inherent uncertainty of the underlying economic forecast by reviewing forecast scenarios. Additionally, the ACL calculation includes subjective adjustments for qualitative risk factors that are likely to cause estimated credit losses to differ from historical experience. These qualitative adjustments may increase or reduce reserve levels and include adjustments for lending management experience and risk tolerance, value of underlying collateral, loan review and audit results, asset quality and portfolio trends, loan portfolio growth and loan concentrations. The Company has elected to exclude accrued interest receivable ("AIR") from the allowance for credit losses calculation. When a loan is placed on non-accrual, any recorded AIR is reversed against interest income. The determination and application of the ACL accounting policy involves judgments, estimates, and uncertainties that are subject to change. Changes in these assumptions, estimates or the conditions surrounding them may have a material impact on the Company’s financial condition, liquidity or results of operations. Various regulatory agencies, as an integral part of the examination process, periodically review the ACL. Such agencies may require the Company to recognize additions to the ACL or reserve increases to adversely graded classified loans based on information available to them at the time of their examinations. The ACL is decreased by net charge-offs and is increased by provisions for credit losses that are charged to the consolidated statements of operations. Charge-offs, if any, are typically measured for each loan based on a thorough analysis of the most probable source of repayment, such as the present value of the loan’s expected future cash flows, the loan’s estimated fair value, or the estimated fair value of the underlying collateral less costs of disposition for collateral-dependent loans. When it is determined that specific loans, or portions thereof, are uncollectible, these amounts are charged off against the ACL. Unfunded loan commitments In addition to the ACL for funded loans, the Company maintains reserves to cover the risk of loss associated with off-balance sheet unfunded loan commitments. The allowance for off-balance sheet credit losses is maintained within other liabilities in the statements of financial condition. Under the CECL framework, adjustments to this liability are recorded as provision for credit losses in the consolidated statements of operations. Unfunded loan commitment balances are evaluated by loan segment. In order to establish the required level of reserve, the Company applies average historical utilization rates and ACL loan model loss rates for each loan segment to the outstanding unfunded commitment balances. Investment securities Management evaluates all investments in an unrealized loss position on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. If the Company has the intent to sell the security or it is more likely than not that the Company will be required to sell the security, the security is written down to fair value and the entire loss is recorded in earnings. If either of the above criteria is not met, the Company will evaluate whether the decline in fair value is the result of credit losses or other factors. In making the assessment, the Company may consider various factors including the extent to which fair value is less than amortized cost, performance on any underlying collateral, downgrades in the ratings of the security by a rating agency, the failure of the issuer to make scheduled interest or principal payments and adverse conditions specifically related to the security. If the assessment indicates that a credit loss exists, the present value of cash flows expected to be collected is compared to the amortized cost basis of the security and any excess is recorded as an allowance for credit loss. For U.S. agency-backed securities where the risk of nonpayment of the amortized cost basis is zero, the Company will not measure expected credit losses on these securities. When the loss is not considered a result of credit loss, the cost basis of the security is written down to fair value, with the loss charge recognized in AOCI. Credit losses are not estimated for AIR from investment securities as interest deemed uncollectible is written off through interest income. Individually Evaluated Loans A loan is considered individually evaluated when it is probable that a creditor will be unable to collect all amounts due, both principal and interest, according to the contractual terms of the loan agreement. Individually evaluated loans are generally measured based on the expected future cash flows and discounted at the loan's effective interest rate. Alternatively, reference to an observable market price could be used to individually evaluate loans, if one exists, or the fair value of the collateral for a collateral-dependent loan. Regardless of the historical measurement method used, the Company measures individually evaluated loans based on the fair value of the collateral when the Company determines foreclosure is probable. Additionally, troubled debt restructurings are measured by discounting the total expected future cash flows at the loan's effective rate of interest as stated in the original loan agreement. The Company uses its methods as discussed above for recognizing interest on individually evaluated loans. Foreclosed Assets Real estate acquired as a result of foreclosure is initially recorded at fair value less estimated selling costs. Fair value is generally determined through the receipt of appraisals. Any write down to fair value at the time the property is acquired is recorded as a charge-off to the allowance for credit losses. Any decline in the fair value of the property subsequent to acquisition is recorded as a charge to non-interest expense. Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed over the estimated useful lives of the assets, or the respective lease terms for leasehold improvements, using straight-line and accelerated methods. Estimated useful lives do not exceed 40 years for buildings, the lesser of 10 years or the life of the lease for leasehold improvements and range from 3 to 7 years for software, equipment, furniture and fixtures. Maintenance and repairs are charged to expense as incurred. Intangible Assets Cost in excess of fair value of net assets acquired has resulted from business acquisitions. Goodwill and intangible assets with indefinite useful lives are not amortized, but instead are tested for impairment at least annually. Intangible assets with definite useful lives are amortized on a straight-line basis over their respective estimated useful lives. Periodically, the Company reviews intangible assets for events or changes in circumstances that may indicate that the carrying amount of the assets may not be recoverable. Based on those reviews, adjustments of recorded amounts have not been required. Non-marketable Equity Investments The Company accounts for non-marketable equity investments, in which it holds less than a 20% ownership, as equity investments without readily determinable fair values. As a result, the carrying value of the investment is determined under the measurement alternative of cost, less impairment (if any), adjusted for fair value changes when observable prices are available. The Company periodically evaluates for impairment of these investments. In performing this evaluation, the Company considers various factors including the investee's financial condition, results of operations, operating trends and other financial ratios. Non-marketable equity investments are included in other assets on the consolidated balance sheets. Treasury Stock Purchases of the Company’s common stock are recorded at cost. Upon reissuance, treasury stock is reduced based upon the average cost basis of shares held. Comprehensive Income Comprehensive income consists of net income, changes in net unrealized gains (losses) on available-for-sale securities and pension liability adjustments and is presented in the accompanying consolidated statements of shareholders' equity and consolidated statements of comprehensive income. Processing Fees A majority of the Company’s fee revenue is attributable to providing services related to processing and payment of invoices. These services include invoice processing, transportation invoice rating, payment processing and services, auditing, and the generation of accounting and transportation information. The Company also processes, pays and generates management information from electric, gas, telecommunications, environmental, and other invoices. The specific payment and information processing services provided to each customer are developed individually to meet each customer’s specific requirements. The Company enters into service agreements with customers typically for fixed fees per transaction that are invoiced monthly. Revenues are recognized in the period services are rendered and earned under the service agreements, as long as collection is reasonably assured. 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. Income Taxes Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Deferred tax assets are reduced if necessary, by a deferred tax asset valuation allowance. In the event that management determines it is more likely than not that it will not be able to realize all or part of net deferred tax assets in the future, the Company adjusts the recorded value of deferred tax assets, which would result in a direct charge to income tax expense in the period that such determination is made. Likewise, the Company will reverse the valuation allowance when realization of the deferred tax asset is expected. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company and its subsidiaries file U.S. federal and certain state income tax returns on a consolidated basis. In addition, certain state jurisdictions are filed on a separate company basis by the Company or its subsidiaries. The Company recognizes and measures income tax benefits using a two-step model: 1) a tax position must be more likely than not to be sustained based solely on its technical merits in order to be recognized; and 2) the benefit must be measured as the largest dollar amount of that position that is more likely than not to be sustained upon settlement. The difference between the benefit recognized for a tax position in this model and the tax benefit claimed on a tax return is treated as an unrecognized tax benefit. The Company recognizes income tax related interest and penalties in income tax expense. 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. Stock-Based Compensation The Company follows FASB ASC 718, Accounting for Stock Options and Other Stock-based Compensation (“ASC 718”), which requires that all stock-based compensation be recognized as an expense in the financial statements and that such cost be measured at the fair value of the award. ASC 718 also requires that excess tax benefits related to stock option exercises and restricted stock awards be reflected as financing cash inflows instead of operating cash inflows. Pension Plans The amounts recognized in the consolidated financial statements related to pension are determined from actuarial valuations. Inherent in these valuations are assumptions including expected return on plan assets, discount rates at which the liabilities could be settled at December 31, 2022, rate of increase in mortality rates. These assumptions are updated annually and are disclosed in Note 10. The Company follows FASB ASC 715, Compensation – Retirement Benefits (“ASC 715”), which requires companies to recognize the overfunded or underfunded status of a defined benefit postretirement plan as an asset or liability in its consolidated balance sheet and to recognize changes in that funded status in the year in which the changes occur through comprehensive income. The funded status is measured as the difference between the fair value of the plan assets and the projected benefit obligation as of the date of its fiscal year-end. Fair Value Measurements The Company follows the provisions of FASB ASC 820, Fair Value Measurements and Disclosures, which defines fair value, establishes a framework for measuring fair value in GAAP, and outlines disclosures about fair value measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A three-level hierarchy for valuation techniques is used to measure financial assets and financial liabilities at fair value. This hierarchy is based on whether the valuation inputs are observable or unobservable. Financial instrument valuations are considered Level 1 when they are based on quoted prices in active markets for identical assets or liabilities. Level 2 financial instrument valuations use quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Financial instrument valuations are considered Level 3 when they are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable, and when determination of the fair value requires significant management judgment or estimation. The Company records securities available for sale at their fair values on a recurring basis using Level 2 valuations. Additionally, the Company records individually evaluated credits and other real estate owned at their fair value on a nonrecurring basis. The nonrecurring fair value adjustments typically involve application of lower-of-cost-or-market accounting or impairment write-downs of individual assets. Impact of New and Not Yet Adopted Accounting Pronouncements In March 2022, the FASB issued 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ("ASU 2022-02"). This ASU eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted the CECL methodology for estimating allowances for credit losses and enhances the disclosure requirements for loan restructurings made with borrowers experiencing financial difficulty. In addition, the amendments require a public business entity to disclose current period gross charge-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. ASU 2022-02 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company does not expect implementation of this ASU to have a material impact on the consolidated financial statements.

Industry Segment Information (Details) $ in Thousands	12 Months Ended
Industry Segment Information (Details) $ in Thousands	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment	2
Segment Reporting Information [Line Items]
Fee income	$ 124,982	$ 109,691	$ 100,441
Interest income	64,015	47,370	49,576
Interest expense	3,482	1,171	2,362
Intersegment income (expense)	58,844	44,326	45,325
Tax-equivalized pre-tax income	44,589	35,694	32,230
Goodwill	17,309	14,262	14,262
Other intangible assets, net	4,126	2,564	3,423
Total assets	2,573,023	2,554,901	2,203,235
Average funding sources	2,332,701	2,026,511	1,640,448
Tax equivalent adjustment	1,700	1,900	1,900
Corporate, Eliminations and Other
Segment Reporting Information [Line Items]
Fee income	1,142	1,608	1,286
Interest income	(5,426)	(1,694)	(261)
Interest expense	(827)	0	0
Intersegment income (expense)	0	0	0
Tax-equivalized pre-tax income	(3,455)	(756)	1,027
Goodwill	0	0	0
Other intangible assets, net	0	0	0
Total assets	(205,355)	13,681	17,007
Average funding sources	0	0	0
Information Services \| Operating Segments
Segment Reporting Information [Line Items]
Fee income	120,234	106,678	97,640
Interest income	28,528	24,332	20,343
Interest expense	166	0	0
Intersegment income (expense)	(3,350)	(3,222)	(2,315)
Tax-equivalized pre-tax income	26,478	25,446	16,230
Goodwill	17,173	14,126	14,126
Other intangible assets, net	4,126	2,564	3,423
Total assets	1,595,939	1,450,594	1,188,745
Average funding sources	1,379,355	1,150,493	902,486
Banking Services \| Operating Segments
Segment Reporting Information [Line Items]
Fee income	3,606	1,405	1,515
Interest income	40,913	24,732	29,494
Interest expense	4,143	1,171	2,362
Intersegment income (expense)	3,350	3,222	2,315
Tax-equivalized pre-tax income	21,566	11,004	14,973
Goodwill	136	136	136
Other intangible assets, net	0	0	0
Total assets	1,182,439	1,090,626	997,483
Average funding sources	$ 953,346	$ 876,018	$ 737,962

Unused Available Lines of Credit	12 Months Ended
Unused Available Lines of Credit	Dec. 31, 2022
Debt Disclosure [Abstract]
Unused Available Lines of Credit	Unused Available Lines of Credit As of December 31, 2022, the Bank had unsecured lines of credit at six correspondent banks to purchase federal funds up to a maximum of $83.0 million in aggregate. As of December 31, 2022, the Bank had secured lines of credit with the Federal Home Loan Bank of $237.8 million collateralized by commercial mortgage loans. At December 31, 2022, the Company had lines of credit from three banks up to a maximum of $200.0 million in aggregate collateralized by state and political subdivision securities. There were no amounts outstanding at December 31, 2022, and 2021 under any of the lines of credit.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1I
-Subparagraph (d)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Income Taxes - Schedule of the Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1	$ 1,405	$ 1,231	$ 1,299
Changes in unrecognized tax benefits as a result of tax positions taken during a prior year	(176)
Changes in unrecognized tax benefits as a result of tax positions taken during a prior year		165	62
Changes in unrecognized tax benefits as a result of tax position taken during the current year	222	239	233
Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations	(199)	(230)	(315)
Decreases in unrecognized tax benefits as a result of settlements with taxing authorities	0	0	(48)
Balance at December 31	$ 1,252	$ 1,405	$ 1,231

Condensed Financial Information of Parent Company - Schedule of Condensed Statement of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Income Statements, Captions [Line Items]
Fee revenues	$ 121,657	$ 108,691	$ 98,903
Other fees	3,325	1,000	1,538
Net interest income after provision for (release of) credit losses	57,494	44,456	44,515
Total net revenue	182,476	154,147	144,956
Expenses:
Salaries and employee benefits	106,474	92,155	88,062
Other operating	22,078	16,743	15,387
Total operating expense	139,576	120,326	114,615
Income tax expense	7,996	5,217	5,165
Net income	34,904	28,604	25,176
Parent Company
Condensed Income Statements, Captions [Line Items]
Income from subsidiaries – management fees	4,315	3,115	2,854
Other fees	2,606	970	1,533
Net interest income after provision for (release of) credit losses	13,435	11,316	10,932
Total net revenue	136,981	119,827	110,397
Expenses:
Salaries and employee benefits	94,047	80,434	77,577
Other operating	32,406	27,406	25,347
Total operating expense	126,453	107,840	102,924
Income before income tax and equity in undistributed income of subsidiaries	10,528	11,987	7,473
Income tax expense	1,242	635	340
Income before undistributed income of subsidiaries	9,286	11,352	7,133
Equity in undistributed income of subsidiaries	25,618	17,252	18,043
Net income	34,904	28,604	25,176
Parent Company \| Product
Condensed Income Statements, Captions [Line Items]
Fee revenues	74,382	72,579	72,513
Parent Company \| Service
Condensed Income Statements, Captions [Line Items]
Fee revenues	$ 42,243	$ 31,847	$ 22,565

Premises and Equipment - Summary of Premises and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 64,444	$ 58,599
Less accumulated depreciation	44,486	40,486
Total premises and equipment, net	19,958	18,113
Land
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	873	873
Buildings
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	14,903	14,834
Leasehold improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	2,044	2,036
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	14,668	13,551
Purchased software
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	4,648	4,640
Internally developed software
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 27,308	$ 22,665

Premises and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

A summary of premises and equipment is as follows:


	December 31,
(In thousands)	2022		2021
Land	$	873	$	873
Buildings	14,903		14,834
Leasehold improvements	2,044		2,036
Furniture, fixtures and equipment	14,668		13,551
Purchased software	4,648		4,640
Internally developed software	27,308		22,665
Total	64,444		58,599
Less accumulated depreciation	44,486		40,486
Total premises and equipment, net	$	19,958	$	18,113

Employee Benefit Plans - Schedule of SERP's Pension Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost – benefits earned during the year	$ 0	$ 1,002
Interest cost on projected benefit obligations	3,293	3,076
SERP
Defined Benefit Plan Disclosure [Line Items]
Service cost – benefits earned during the year	0	147	$ 121
Interest cost on projected benefit obligations	318	291	347
Net amortization and deferral	108	203	112
Net periodic pension cost	$ 426	$ 641	$ 580

Stock-Based Compensation - Summary of Restricted Stock Activity (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares
Beginning balance (in shares)	165,553
Granted (in shares)	64,151	53,906	38,226
Vested (in shares)	(23,316)
Forfeitures (in shares)	(823)
Ending balance (in shares)	205,565	165,553
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 44.81
Granted (in dollars per share)	39.30	$ 41.55	$ 47.07
Vested (in dollars per share)	48.85
Forfeited (in dollars per share)	43.89
Ending balance (in dollars per share)	$ 42.64	$ 44.81

Stock-Based Compensation - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	1,500,000
Stock-based compensation expense	$ 6,732,000	$ 2,859,000	$ 2,267,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Granted (in shares)	64,151	53,906	38,226
Granted in period, weighted average fair value (in dollars per share)	$ 39.30	$ 41.55	$ 47.07
Amortization of restricted stock bonus	$ 2,400,000	$ 1,800,000	$ 1,500,000
Unrecognized compensation expense	$ 1,400,000
Unrecognized compensation expense, period for recognition	7 months 6 days
Fair value of shares vested	$ 1,100,000	$ 1,200,000	$ 1,000,000
Performance-based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Granted (in shares)	57,542
Granted in period, weighted average fair value (in dollars per share)	$ 39.58
Percentage of shares vested	52.90%	94.40%
Shares issued (in shares)	18,021	31,150
Performance-based Restricted Stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target opportunity for awards to vest	0.00%
Performance-based Restricted Stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target opportunity for awards to vest	150.00%
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 0
Non-option equity instruments, granted (in shares)	0
Stock-based compensation expense	$ 0
Shares exercised, intrinsic value	$ 2,200,000	$ 630,000
Average remaining contractual terms	8 months 23 days	1 year 2 months 15 days
Aggregate intrinsic value	$ 192,000	$ 741,000

Interest-Bearing Deposits (Tables)

12 Months Ended

Dec. 31, 2022

Interest-Bearing Deposits [Abstract]

Schedule of Interest Bearing Deposits

Interest-bearing deposits consist of the following:


	December 31,
(In thousands)	2022			2021
Interest-bearing demand deposits	$	567,426		$	573,567
Savings deposits	6,413			18,110
Time deposits:
Less than $100	2,526			3,536
$100 to less than $250	20,137			30,648
$250 or more (1)	17,958			13,000
Total	$	614,460		$	638,861
Weighted average interest rate	1.74		%	0.15		%

(1)The scheduled maturities of time deposits not covered by deposit insurance consist of $17.7 million within one year and $264,000 within one to three years.

Schedule of Interest on Deposits

Interest expense consists of the following:


	December 31,
(In thousands)	2022		2021		2020
Interest-bearing demand deposits	$	3,118	$	582	$	1,313
Savings deposits	38		9		24
Time deposits:
Less than $100	145		332		550
$100 to less than $250	79		109		206
$250 or more	102		139		267
Total	$	3,482	$	1,171	$	2,360

Schedule of Maturities of Time Deposits

The scheduled maturities of time deposits are summarized as follows:


	December 31,
	2022				2021
(In thousands)	Amount		Percent of Total		Amount		Percent of Total
Due within:
One year	$	37,925	93.4	%	$	30,855	65.4	%
Two years	1,773		4.4	%	15,061		31.9	%
Three years	797		2.0	%	1,205		2.6	%
Four years	88		0.2	%	48		0.1	%
Five years	38		0.1	%	15		—	%
Total	$	40,621	100.0	%	$	47,184	100.0	%

Employee Benefit Plans - Schedule of Assumptions used to Determine the Projected Benefit Obligation (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Weighted average discount rate	5.25%	2.85%	2.55%
SERP
Defined Benefit Plan Disclosure [Line Items]
Weighted average discount rate	5.15%	2.65%	2.20%
After Year Seven
Defined Benefit Plan Disclosure [Line Items]
Rate of increase in compensation levels	6.00%
First Seven Years Of Service
Defined Benefit Plan Disclosure [Line Items]
Rate of increase in compensation levels	3.25%

Employee Benefit Plans - Schedule of Expected Pension Benefit Payments (Details) - Pension Plan $ in Thousands	Dec. 31, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2023	$ 4,193
2024	4,436
2025	4,636
2026	4,844
2027	5,048
2026-2030	$ 27,845

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Operations	Summary of Operations The Company provides payment and information services, which include processing and payment of transportation, energy, telecommunications and environmental invoices. These services include the acquisition and management of data, information delivery and financial exchange. The consolidated balance sheet captions, “Accounts and drafts payable” and “Payments in advance of funding,” represent the Company’s resulting financial position related to the payment services that are performed for customers. The Company also provides a full range of banking services to individual, corporate and institutional customers through the Bank, its wholly owned bank subsidiary.
Basis of Presentation	Basis of Presentation The accounting and reporting policies of the Company and its subsidiaries conform to U.S. GAAP. The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries after elimination of intercompany transactions. Certain amounts in the 2021 and 2020 consolidated financial statements have been reclassified to conform to the 2022 presentation. Such reclassifications have no effect on previously reported net income or shareholders’ equity.
Use of Estimates	Use of Estimates In preparing the consolidated financial statements, Company management is required to make estimates and assumptions which significantly affect the reported amounts in the consolidated financial statements.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, the Company considers cash and due from banks, interest-bearing deposits in other financial institutions, and federal funds sold and other short-term investments to be cash and cash equivalents.
Investment in Debt Securities	Investment in Debt Securities The Company classifies its investment securities as available-for-sale. Securities classified as available-for-sale are carried at fair value. Unrealized gains and losses, net of the related tax effect, are excluded from earnings and reported in accumulated other comprehensive income, a component of shareholders’ equity. Securities are periodically evaluated for credit losses in accordance with the guidance provided in FASB ASC Topic 326, Financial Instruments – Credit Losses ("ASC 326"). For available for sale investment securities in an unrealized loss position, the entire loss in fair value is required to be recognized in current earnings if the Company intends to sell the securities or believes it likely that it will be required to sell the security before the anticipated recovery. If neither condition is met, and the Company does not expect to recover the amortized cost basis, the Company determines whether the decline in fair value resulted from credit losses or other factors. If the assessment indicates that a credit loss exists, the present value of cash flows expected to be collected is compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss has occurred, and an allowance for credit losses is recorded. The allowance for credit losses is limited by the amount that the fair value is less than the amortized cost basis. Any impairment not recorded through the provision for credit losses would be recognized in other comprehensive income. Changes in the allowance for credit losses would be recorded as a provision for credit losses on the consolidated statements of income. Losses would be charged against the allowance for credit losses on securities when management believes the uncollectibility of an available-for-sale security is confirmed or when either of the conditions regarding intent or requirement to sell is met. Premiums and discounts are amortized or accreted to interest income over the expected lives of the respective securities using the level-yield method. Interest income is recognized when earned. Gains and losses are calculated using the specific identification method.
Loans	Loans Interest on loans is recognized based upon the principal amounts outstanding. It is the Company’s policy to discontinue the accrual of interest when there is reasonable doubt as to the collectability of principal or interest. Subsequent payments received on such loans are applied to principal if there is any doubt as to the collectability of such principal; otherwise, these receipts are recorded as interest income. The accrual of interest on a loan is resumed when the loan is current as to payment of both principal and interest and/or the borrower demonstrates the ability to pay and remain current. Loan origination and commitment fees on originated loans, net of certain direct loan origination costs, are deferred and amortized to interest income using the level-yield method over the estimated lives of the related loans.
Allowance for Credit Losses	Allowance for Credit Losses The ACL is increased by provisions charged to expense and is available to absorb charge-offs, net of recoveries. Management utilizes a systematic, documented approach in determining the appropriate level of the ACL. Management’s approach provides for estimated current expected credit losses on loans in accordance with ASC 326. These estimates are based upon a number of factors, such as payment history, financial condition of the borrower, expected future cash flows and collateral exposure. The ACL is a valuation account that is deducted from the amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the ACL when management believes the uncollectibility of a loan balance is confirmed. Expected recoveries for amounts previously charged off and expected to be charged off do not exceed the aggregate of amounts previously charged off and expected to be charged off. Management estimated the allowance balance using relevant available information from internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts based on economic factors, such as GDP. Historical credit loss experience, of both the Company and similar peer banks, provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for concentration risk, asset quality trends, borrower’s ability to pay, collateral, and other environmental factors. It is difficult to estimate how potential changes in any one economic factor or input might affect the overall ACL because a wide variety of factors and inputs are considered in estimating the allowance and changes in those factors and inputs considered may not occur at the same rate and may not be consistent across all loan types. Additionally, changes in factors and inputs may be directionally inconsistent, such that improvement in one factor may offset deterioration in others. The ACL is measured on a collective pool basis when similar risk characteristics exist. Management believes the ACL is adequate to absorb expected losses in the loan portfolio. Loans The Company has identified the following portfolio segments: Commercial & Industrial (“C&I”) – C&I loans consist of loans to small and medium-sized businesses in a wide variety of industries, franchise lending, and equipment financing to companies of all sizes. These loans are generally collateralized by inventory, accounts receivable, equipment, and other commercial assets, and may be supported by other credit enhancements such as personal guarantees. Risk arises primarily due to a difference between expected and actual cash flows of the borrower. However, the recoverability of these loans is also dependent on other factors primarily dictated by the type of collateral securing these loans. The fair value of the collateral securing these loans may fluctuate as market conditions change. Included within C&I are revolving loans supported by borrowing bases that fluctuate depending on the amount of underlying collateral. Commercial Real Estate (“CRE”) – CRE loans include various types of loans for which the Company holds real property as collateral. Commercial real estate lending activity is typically restricted to owner-occupied properties or to investor properties that are owned by customers with a current banking relationship. The primary risks of CRE loans include the borrower’s inability to pay and material decreases in the value of the real estate being held as collateral. Faith-based CRE – Faith-based CRE loans include loans to faith-based ministries for which the Company holds real property as collateral. The primary risks of faith-based CRE loans include the borrower’s inability to pay and material decreases in the value of the real estate being held as collateral. Construction and Land Development – The Company originates loans to finance construction projects including faith-based and commercial projects. Construction loans are generally collateralized by first liens on the real estate and have floating interest rates. The primary risks of construction loans are construction completion and timing risk. Adverse economic conditions may negatively impact the borrowers’ ability to complete the project. Additionally, the fair value of the underlying collateral may fluctuate as market conditions change. The ACL is calculated as the difference between the amortized cost basis of the loan portfolio and the projections from the weighted-average remaining maturity ("WARM") model that the Company developed. The WARM model utilizes an attrition analysis, including events such as payoffs, matured loans, and renewals in the borrowers’ control, to anticipate the length of time it would take for each portfolio segment to runoff. Management incorporates a one-year GDP forecast and an immediate reversion to peer historical loss rates to determine the annual charge off rates over the estimated life of the loans. After the reasonable and supportable forecast period, the model reverts to long-run historical average loss rates of its peers. However, for the faith-based CRE ACL, beyond the reasonable and supportable forecast period, loss rates are reverted immediately to the Company’s long-run historical averages, as this represents a unique loan segment to the peer portfolios. The economic forecast is based on management’s assessment of the length and pattern of the current economic cycle. The resulting annual charge off rate determined for each year in the WARM model is applied to the loan balances estimated in the attrition analysis. Management accounts for the inherent uncertainty of the underlying economic forecast by reviewing forecast scenarios. Additionally, the ACL calculation includes subjective adjustments for qualitative risk factors that are likely to cause estimated credit losses to differ from historical experience. These qualitative adjustments may increase or reduce reserve levels and include adjustments for lending management experience and risk tolerance, value of underlying collateral, loan review and audit results, asset quality and portfolio trends, loan portfolio growth and loan concentrations. The Company has elected to exclude accrued interest receivable ("AIR") from the allowance for credit losses calculation. When a loan is placed on non-accrual, any recorded AIR is reversed against interest income. The determination and application of the ACL accounting policy involves judgments, estimates, and uncertainties that are subject to change. Changes in these assumptions, estimates or the conditions surrounding them may have a material impact on the Company’s financial condition, liquidity or results of operations. Various regulatory agencies, as an integral part of the examination process, periodically review the ACL. Such agencies may require the Company to recognize additions to the ACL or reserve increases to adversely graded classified loans based on information available to them at the time of their examinations. The ACL is decreased by net charge-offs and is increased by provisions for credit losses that are charged to the consolidated statements of operations. Charge-offs, if any, are typically measured for each loan based on a thorough analysis of the most probable source of repayment, such as the present value of the loan’s expected future cash flows, the loan’s estimated fair value, or the estimated fair value of the underlying collateral less costs of disposition for collateral-dependent loans. When it is determined that specific loans, or portions thereof, are uncollectible, these amounts are charged off against the ACL. Unfunded loan commitments In addition to the ACL for funded loans, the Company maintains reserves to cover the risk of loss associated with off-balance sheet unfunded loan commitments. The allowance for off-balance sheet credit losses is maintained within other liabilities in the statements of financial condition. Under the CECL framework, adjustments to this liability are recorded as provision for credit losses in the consolidated statements of operations. Unfunded loan commitment balances are evaluated by loan segment. In order to establish the required level of reserve, the Company applies average historical utilization rates and ACL loan model loss rates for each loan segment to the outstanding unfunded commitment balances. Investment securities Management evaluates all investments in an unrealized loss position on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. If the Company has the intent to sell the security or it is more likely than not that the Company will be required to sell the security, the security is written down to fair value and the entire loss is recorded in earnings. If either of the above criteria is not met, the Company will evaluate whether the decline in fair value is the result of credit losses or other factors. In making the assessment, the Company may consider various factors including the extent to which fair value is less than amortized cost, performance on any underlying collateral, downgrades in the ratings of the security by a rating agency, the failure of the issuer to make scheduled interest or principal payments and adverse conditions specifically related to the security. If the assessment indicates that a credit loss exists, the present value of cash flows expected to be collected is compared to the amortized cost basis of the security and any excess is recorded as an allowance for credit loss. For U.S. agency-backed securities where the risk of nonpayment of the amortized cost basis is zero, the Company will not measure expected credit losses on these securities. When the loss is not considered a result of credit loss, the cost basis of the security is written down to fair value, with the loss charge recognized in AOCI. Credit losses are not estimated for AIR from investment securities as interest deemed uncollectible is written off through interest income.
Individually Evaluated Loans	Individually Evaluated Loans A loan is considered individually evaluated when it is probable that a creditor will be unable to collect all amounts due, both principal and interest, according to the contractual terms of the loan agreement. Individually evaluated loans are generally measured based on the expected future cash flows and discounted at the loan's effective interest rate. Alternatively, reference to an observable market price could be used to individually evaluate loans, if one exists, or the fair value of the collateral for a collateral-dependent loan. Regardless of the historical measurement method used, the Company measures individually evaluated loans based on the fair value of the collateral when the Company determines foreclosure is probable. Additionally, troubled debt restructurings are measured by discounting the total expected future cash flows at the loan's effective rate of interest as stated in the original loan agreement. The Company uses its methods as discussed above for recognizing interest on individually evaluated loans.
Foreclosed Assets	Foreclosed Assets Real estate acquired as a result of foreclosure is initially recorded at fair value less estimated selling costs. Fair value is generally determined through the receipt of appraisals. Any write down to fair value at the time the property is acquired is recorded as a charge-off to the allowance for credit losses. Any decline in the fair value of the property subsequent to acquisition is recorded as a charge to non-interest expense.
Premises and Equipment	Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed over the estimated useful lives of the assets, or the respective lease terms for leasehold improvements, using straight-line and accelerated methods. Estimated useful lives do not exceed 40 years for buildings, the lesser of 10 years or the life of the lease for leasehold improvements and range from 3 to 7 years for software, equipment, furniture and fixtures. Maintenance and repairs are charged to expense as incurred.
Intangible Assets	Intangible Assets Cost in excess of fair value of net assets acquired has resulted from business acquisitions. Goodwill and intangible assets with indefinite useful lives are not amortized, but instead are tested for impairment at least annually. Intangible assets with definite useful lives are amortized on a straight-line basis over their respective estimated useful lives. Periodically, the Company reviews intangible assets for events or changes in circumstances that may indicate that the carrying amount of the assets may not be recoverable. Based on those reviews, adjustments of recorded amounts have not been required.
Non-marketable Equity Investments	Non-marketable Equity Investments The Company accounts for non-marketable equity investments, in which it holds less than a 20% ownership, as equity investments without readily determinable fair values. As a result, the carrying value of the investment is determined under the measurement alternative of cost, less impairment (if any), adjusted for fair value changes when observable prices are available. The Company periodically evaluates for impairment of these investments. In performing this evaluation, the Company considers various factors including the investee's financial condition, results of operations, operating trends and other financial ratios. Non-marketable equity investments are included in other assets on the consolidated balance sheets.
Treasury Stock	Treasury Stock Purchases of the Company’s common stock are recorded at cost. Upon reissuance, treasury stock is reduced based upon the average cost basis of shares held.
Comprehensive Income	Comprehensive Income Comprehensive income consists of net income, changes in net unrealized gains (losses) on available-for-sale securities and pension liability adjustments and is presented in the accompanying consolidated statements of shareholders' equity and consolidated statements of comprehensive income.
Processing Fees	Processing Fees A majority of the Company’s fee revenue is attributable to providing services related to processing and payment of invoices. These services include invoice processing, transportation invoice rating, payment processing and services, auditing, and the generation of accounting and transportation information. The Company also processes, pays and generates management information from electric, gas, telecommunications, environmental, and other invoices. The specific payment and information processing services provided to each customer are developed individually to meet each customer’s specific requirements. The Company enters into service agreements with customers typically for fixed fees per transaction that are invoiced monthly. Revenues are recognized in the period services are rendered and earned under the service agreements, as long as collection is reasonably assured.
Financial Fees	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.
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Deferred tax assets are reduced if necessary, by a deferred tax asset valuation allowance. In the event that management determines it is more likely than not that it will not be able to realize all or part of net deferred tax assets in the future, the Company adjusts the recorded value of deferred tax assets, which would result in a direct charge to income tax expense in the period that such determination is made. Likewise, the Company will reverse the valuation allowance when realization of the deferred tax asset is expected. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company and its subsidiaries file U.S. federal and certain state income tax returns on a consolidated basis. In addition, certain state jurisdictions are filed on a separate company basis by the Company or its subsidiaries. The Company recognizes and measures income tax benefits using a two-step model: 1) a tax position must be more likely than not to be sustained based solely on its technical merits in order to be recognized; and 2) the benefit must be measured as the largest dollar amount of that position that is more likely than not to be sustained upon settlement. The difference between the benefit recognized for a tax position in this model and the tax benefit claimed on a tax return is treated as an unrecognized tax benefit. The Company recognizes income tax related interest and penalties in income tax expense.
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.
Stock-Based Compensation	Stock-Based Compensation The Company follows FASB ASC 718, Accounting for Stock Options and Other Stock-based Compensation (“ASC 718”), which requires that all stock-based compensation be recognized as an expense in the financial statements and that such cost be measured at the fair value of the award. ASC 718 also requires that excess tax benefits related to stock option exercises and restricted stock awards be reflected as financing cash inflows instead of operating cash inflows.
Pension Plans	Pension Plans The amounts recognized in the consolidated financial statements related to pension are determined from actuarial valuations. Inherent in these valuations are assumptions including expected return on plan assets, discount rates at which the liabilities could be settled at December 31, 2022, rate of increase in mortality rates. These assumptions are updated annually and are disclosed in Note 10. The Company follows FASB ASC 715, Compensation – Retirement Benefits (“ASC 715”), which requires companies to recognize the overfunded or underfunded status of a defined benefit postretirement plan as an asset or liability in its consolidated balance sheet and to recognize changes in that funded status in the year in which the changes occur through comprehensive income. The funded status is measured as the difference between the fair value of the plan assets and the projected benefit obligation as of the date of its fiscal year-end.
Fair Value Measurements	Fair Value Measurements The Company follows the provisions of FASB ASC 820, Fair Value Measurements and Disclosures, which defines fair value, establishes a framework for measuring fair value in GAAP, and outlines disclosures about fair value measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A three-level hierarchy for valuation techniques is used to measure financial assets and financial liabilities at fair value. This hierarchy is based on whether the valuation inputs are observable or unobservable. Financial instrument valuations are considered Level 1 when they are based on quoted prices in active markets for identical assets or liabilities. Level 2 financial instrument valuations use quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Financial instrument valuations are considered Level 3 when they are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable, and when determination of the fair value requires significant management judgment or estimation. The Company records securities available for sale at their fair values on a recurring basis using Level 2 valuations. Additionally, the Company records individually evaluated credits and other real estate owned at their fair value on a nonrecurring basis. The nonrecurring fair value adjustments typically involve application of lower-of-cost-or-market accounting or impairment write-downs of individual assets.
Impact of New and Not Yet Adopted Accounting Pronouncements	Impact of New and Not Yet Adopted Accounting Pronouncements In March 2022, the FASB issued 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ("ASU 2022-02"). This ASU eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted the CECL methodology for estimating allowances for credit losses and enhances the disclosure requirements for loan restructurings made with borrowers experiencing financial difficulty. In addition, the amendments require a public business entity to disclose current period gross charge-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. ASU 2022-02 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company does not expect implementation of this ASU to have a material impact on the consolidated financial statements.

Employee Benefit Plans - Summary of the Activity in the SERP's Projected Benefit Obligation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Benefit obligation:
Beginning balance	$ 117,323,000	$ 122,035,000
Service cost	0	1,002,000
Interest cost	3,293,000	3,076,000
Benefits paid	(3,201,000)	(2,968,000)
Actuarial gain	(31,982,000)	(5,822,000)
Ending balance	85,433,000	117,323,000	$ 122,035,000
SERP
Benefit obligation:
Beginning balance	12,420,000	13,412,000
Service cost	0	147,000	121,000
Interest cost	318,000	291,000	347,000
Benefits paid	(348,000)	(282,000)	(291,000)
Actuarial gain	(2,811,000)	1,148,000
Ending balance	$ 9,579,000	$ 12,420,000	$ 13,412,000

Investment Securities - Schedule of Amortized Cost and Fair Value of Investment Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Amortized Cost
Due in 1 year or less	$ 65,686
Due after 1 year through 5 years	267,163
Due after 5 years through 10 years	232,235
Due after 10 years	259,963
Amortized Cost	825,047	$ 664,271
Fair Value
Due in 1 year or less	65,221
Due after 1 year through 5 years	261,764
Due after 5 years through 10 years	205,277
Due after 10 years	222,206
Total	$ 754,468	$ 673,453

Investment Securities

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Investment Securities

Investment securities available-for-sale are recorded at fair value on a recurring basis. The Company’s investment securities available-for-sale at December 31, 2022 and 2021 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 falls into the Level 2 category. The table below presents the balances of securities available-for-sale

measured at fair value on a recurring basis. The amortized cost, gross unrealized gains, gross unrealized losses and fair value of debt and equity securities are summarized as follows:


	December 31, 2022
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		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


	December 31, 2021
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State and political subdivisions	$	359,187	$	12,931	$	(990)	$	371,128
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	170,711		135		(2,200)		168,646
Corporate bonds	84,538		72		(272)		$	84,338
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	49,835		—		(494)		49,341
Total	$	664,271	$	13,138	$	(3,956)	$	673,453

The fair values of securities with unrealized losses are as follows:


	December 31, 2022
	Less than 12 months				12 months or more				Total
(In thousands)	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
State and political subdivisions	$	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


	December 31, 2021
	Less than 12 months				12 months or more					Total
(In thousands)	Estimated Fair Value		Unrealized Losses		Estimated Fair Value			Unrealized Losses		Estimated Fair Value		Unrealized Losses
State and political subdivisions	$	60,083	$	990	$	—		$	—	$	60,083	$	990
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	163,652		2,200		—			—		163,652		2,200
Corporate bonds	55,120		272		—		—	—		55,120		272
Asset backed securities issued or guaranteed by U.S. Government agencies or sponsored enterprises	49,341		494		—			—		49,341		494
Total	$	328,196	$	3,956	$	—		$	—	$	328,196	$	3,956

There were 311 securities, or 91.7%, in an unrealized loss position as of December 31, 2022 compared to 101 securities, or 28.0%, in an unrealized loss position as of December 31, 2021. Of these securities, 101, or 29.8%, were in an unrealized loss position for greater than 12 months at December 31, 2022. The Company does not intend to sell, or believe it is likely to sell, its available for sale securities in an unrealized loss position before the anticipated recovery of current unrealized losses. As such, the Company did not recognize any credit losses on any available for sale debt securities in 2022 or 2021.

The amortized cost and fair value of debt and equity 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.


	December 31, 2022
(In thousands)	Amortized Cost		Fair Value
Due in 1 year or less	$	65,686	$	65,221
Due after 1 year through 5 years	267,163		261,764
Due after 5 years through 10 years	232,235		205,277
Due after 10 years	259,963		222,206
Total	$	825,047	$	754,468

The premium related to the purchase of state and political subdivisions was $5.8 million and $6.4 million at December 31, 2022 and 2021, respectively.

There were no securities pledged to secure public deposits or for other purposes at December 31, 2022.

Proceeds from sales of investment securities classified as available-for-sale were $3.8 million in 2022, $63.8 million in 2021, and $21.9 million in 2020. Gross realized gains on the sales in 2022, 2021, and 2020 were $15,000, $55,000, and $1.1 million, respectively. Gross realized losses on the sales in 2022, 2021, and 2020 were $0, $4,000 and $0, respectively.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash Flows From Operating Activities:
Net income	$ 34,904,000	$ 28,604,000	$ 25,176,000
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets	680,000	859,000	859,000
Net amortization of premium/discount on investment securities	6,275,000	7,328,000	5,939,000
Depreciation	4,021,000	4,313,000	4,471,000
Gains on sales of securities	(15,000)	(51,000)	(1,075,000)
Stock-based compensation expense	6,732,000	2,859,000	2,267,000
Provision for (release of) credit losses	1,350,000	(130,000)	810,000
Deferred income tax benefit	(1,163,000)	(698,000)	(874,000)
Increase in current income tax liability	724,000	206,000	1,237,000
(Decrease) increase in pension liability	(2,484,000)	(1,811,000)	4,423,000
(Increase) decrease in accounts receivable	(2,520,000)	(602,000)	756,000
Other operating activities, net	3,104,000	(6,330,000)	3,792,000
Net cash provided by operating activities	51,608,000	34,547,000	47,781,000
Cash Flows From Investing Activities:
Proceeds from sales of securities available-for-sale	3,838,000	63,774,000	21,943,000
Proceeds from maturities of securities available-for-sale	61,209,000	96,951,000	63,789,000
Purchases of securities available-for-sale	(232,083,000)	(494,226,000)	(20,043,000)
Net increase in loans	(122,326,000)	(68,664,000)	(119,183,000)
Purchase of bank-owned life insurance	(4,000,000)	(25,119,000)	0
(Increase) decrease in payments in advance of funding	(2,348,000)	(96,864,000)	11,595,000
Purchases of premises and equipment, net	(5,866,000)	(4,369,000)	(2,001,000)
Asset acquisition of TouchPoint	(4,814,000)	0	0
Net cash used in investing activities	(306,390,000)	(528,517,000)	(43,900,000)
Cash Flows From Financing Activities:
Net increase in noninterest-bearing demand deposits	60,115,000	89,138,000	142,413,000
Net (decrease) increase in interest-bearing demand and savings deposits	(17,838,000)	90,310,000	166,289,000
Net decrease in time deposits	(6,563,000)	(8,801,000)	(14,982,000)
Net (increase) decrease in accounts and drafts receivable from customers	(90,787,000)	6,000	59,404,000
Net increase in accounts and drafts payable	17,204,000	215,010,000	151,091,000
Net decrease in short-term borrowings	0	0	(18,000,000)
Cash dividends paid	(15,442,000)	(15,446,000)	(15,599,000)
Purchase of common shares for treasury	(5,299,000)	(30,997,000)	(6,825,000)
Other financing activities, net	(594,000)	(850,000)	(1,098,000)
Net cash (used in) provided by financing activities	(59,204,000)	338,370,000	462,693,000
Net (decrease) increase in cash and cash equivalents	(313,986,000)	(155,600,000)	466,574,000
Cash and cash equivalents at beginning of year	514,928,000	670,528,000	203,954,000
Cash and cash equivalents at end of year	200,942,000	514,928,000	670,528,000
Supplemental information:
Cash paid for interest	3,431,000	1,194,000	2,426,000
Cash paid for income taxes	$ 8,396,000	$ 5,637,000	$ 4,732,000

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Summary of Projected Benefit Obligation

A summary of the activity in the Plan’s projected benefit obligation, assets, funded status and amounts recognized in the Company’s consolidated balance sheets is as follows:


(In thousands)	2022		2021
Projected benefit obligation:
Balance, January 1	$	117,323	$	122,035
Service cost	—		1,002
Interest cost	3,293		3,076
Actuarial gain	(31,982)		(5,822)

Benefits paid	(3,201)		(2,968)
Balance, December 31	$	85,433	$	117,323
Plan assets:
Fair value, January 1	$	114,136	$	106,667
Actual investment return	(26,820)		10,107
Employer contribution	—		330
Expenses paid from plan assets	(721)		—
Benefits paid	(3,201)		(2,968)
Fair value, December 31	$	83,394	$	114,136
Funded status:
Accrued pension liability	$	(2,039)	(3,187)

A summary of the activity in the SERP’s projected benefit obligation and amounts recognized in the Company’s consolidated balance sheets is as follows:


	December 31,
(In thousands)	2022		2021
Benefit obligation:
Balance, January 1	$	12,420	$	13,412
Service cost	—		147
Interest cost	318		291
Benefits paid	(348)		(282)
Actuarial gain	(2,811)		(1,148)
Balance, December 31	$	9,579	$	12,420

Schedule of Assumptions used to Determine Projected Benefit Obligation

The following represent the major assumptions used to determine the projected benefit obligation of the Plan. For 2022, 2021 and 2020, the Plan’s expected benefit cash flows were discounted using the FTSE Above Median Double-A Curve. For 2022, the Pri-2012 Mortality Table and MP-2022 Mortality Improvement Scale were used. For 2021, the Pri-2012 Mortality Table and MP-2021 Mortality Improvement Scale were used. For 2020, the Pri-2012 Mortality Table and MP-2020 Mortality Improvement Scale were used.


	2022		2021		2020
Weighted average discount rate	5.25	%	2.85	%	2.55	%
Rate of increase in compensation levels	N/A		(a)		(a)

(a)6.0% graded down to 3.25% over the first seven years of service.

The following represent the major assumptions used to determine the projected benefit obligation of the SERP. For 2022, 2021 and 2020, the SERP’s expected benefit cash flows were discounted using the FTSE Above Median Double-A Curve.


	2022		2021		2020
Weighted average discount rate	5.15	%	2.65	%	2.20	%
Rate of increase in compensation levels	N/A		(a)		(a)

(a)6.00% graded down to 3.25% over the first seven years of service.

Schedule of Expected Benefit Payments

The following pension benefit payments, as appropriate, are expected to be paid by the Plan:


	Amount
2023	$	4,193,000
2024	4,436,000
2025	4,636,000
2026	4,844,000
2027	5,048,000
2026-2030	27,845,000

Expected future benefits payable by the Company over the next ten years are as follows:


	Amount
2023	$	810,000
2024	791,000
2025	788,000
2026	785,000
2027	780,000
2026-2030	$	3,787,000

Schedule of Plan's Pension Costs

The Plan’s (benefit) pension cost included the following components:


	For the Year Ended December 31,
(In thousands)	2022		2021		2020
Service cost – benefits earned during the year	$	—	$	1,002	$	4,329
Interest cost on projected benefit obligations	3,293		3,076		3,908
Expected return on plan assets	(5,857)		(6,310)		(6,049)
Net amortization and deferral	—		393		1,946
Net periodic (benefit) pension cost	$	(2,564)	$	(1,839)	$	4,134

Schedule of Assumptions used to Determine Net Pension Cost

The following represent the major assumptions used to determine the net (benefit) pension cost of the Plan:


	2022		2021		2020
Weighted average discount rate	2.85	%	2.55	%	3.30	%
Rate of increase in compensation levels	N/A		(a )		(a )
Expected long-term rate of return on assets	6.00	%	6.00	%	6.50	%

(a)6.0% graded down to 3.25% over the first seven years of service.

Schedule of Assumed Long-term Rate of Return on Assets

The expected one-year nominal returns and annual standard deviations are shown by asset class below:


Asset Class	% of Total Portfolio		One-Year Nominal Return		Annual Standard Deviation
Core Fixed Income	68.5	%	5.46	%	10.49	%
Large Cap U.S. Equities	14.0	%	7.98	%	17.66	%

International (Developed)	10.0	%	9.07	%	18.52	%
International (Emerging)	4.0	%	11.91	%	26.71	%
Real Estate	3.5	%	7.19	%	15.13	%

Summary of the Fair Value Measurements by Type of Asset

A summary of the fair value measurements by type of asset is as follows:


	Fair Value Measurements as of December 31,
	2022						2021
(In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Observable Inputs (Level 2)		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Observable Inputs (Level 2)
Cash	$	566	$	566	$	—	$	535	$	535	$	—
Real estate investment trusts	7,120		—		7,120		6,250		—		6,250
Equity securities
U.S. Small/Mid Cap Growth	2,055		—		2,055		4,734		—		4,734
Non-U. S. Core	7,822		—		7,822		19,164		—		19,164
U.S. Large Cap Passive	8,319		—		8,319		18,279		—		18,279
Emerging Markets	3,000		—		3,000		7,701		—		7,701
Fixed Income
U.S. Core	51,756		—		51,756		51,386		—		51,386
U.S. Passive	—		—		—		—		—		—
Opportunistic	2,756		—		2,756		6,087		—		6,087
Total	$	83,394	$	566	$	82,828	$	114,136	$	535	$	113,601

Schedule Of Net Periodic Pension Cost Related To SERP

Net periodic pension cost related to the SERP included the following components:


	For the Year Ended December 31,
(In thousands)	2022		2021		2020
Service cost – benefits earned during the year	$	—	$	147	$	121
Interest cost on projected benefit obligations	318		291		347
Net amortization and deferral	108		203		112
Net periodic pension cost	$	426	$	641	$	580

Schedule of Pretax Amounts in Accumulated Other Comprehensive Loss

The pretax amounts in accumulated other comprehensive loss as of December 31 were as follows:


	The Plan				SERP
(In thousands)	2022		2021		2022		2021
Prior service cost	$	—	$	—	$	—	$	—
Net actuarial loss (gain)	6,833		5,417		(136)		2,783
Total	$	6,833	$	5,417	$	(136)	$	2,783

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and due from banks	$ 20,995	$ 12,301
Short-term investments	179,947	502,627
Cash and cash equivalents	200,942	514,928
Securities available-for-sale, at fair value	754,468	673,453
Loans	1,082,906	960,567
Less allowance for credit losses	13,539	12,041
Loans, net	1,069,367	948,526
Payments in advance of funding	293,775	291,427
Premises and equipment, net	19,958	18,113
Investments in bank-owned life insurance	47,998	43,176
Goodwill	17,309	14,262
Other intangible assets, net	4,126	2,564
Accounts and drafts receivable from customers	95,779	4,992
Other assets	69,301	43,460
Total assets	2,573,023	2,554,901
Deposits
Noninterest-bearing	642,757	582,642
Interest-bearing	614,460	638,861
Total deposits	1,257,217	1,221,503
Accounts and drafts payable	1,067,600	1,050,396
Other liabilities	41,881	37,204
Total liabilities	2,366,698	2,309,103
Shareholders’ Equity:
Preferred stock, par value $0.50 per share; 2,000,000 shares authorized and no shares issued	0	0
Common stock, par value $0.50 per share; 40,000,000 shares authorized; 15,505,772 shares issued at December 31, 2022 and 2021; 13,669,656 and 13,734,295 shares outstanding at December 31, 2022 and 2021, respectively.	7,753	7,753
Additional paid-in capital	207,422	204,276
Retained earnings	131,682	112,220
Common shares in treasury, at cost (1,836,116 shares at December 31, 2022 and 1,771,477 shares at December 31, 2021, respectively)	(81,211)	(78,904)
Accumulated other comprehensive (loss) income	(59,321)	453
Total shareholders’ equity	206,325	245,798
Total liabilities and shareholders’ equity	$ 2,573,023	$ 2,554,901
Treasury stock (in shares)	1,836,116	1,771,477

Leases - Narrative (Details)	12 Months Ended
Leases - Narrative (Details)	Dec. 31, 2022 USD ($)
Leases [Abstract]
Operating lease, liability	$ 9,499,000
Operating lease, right-of-use asset	$ 9,200,000
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	$ 1,500,000
Short-term lease, cost	203,000
Operating lease, payments	$ 1,600,000
Operating lease, weighted average remaining lease term	8 years 2 months 12 days
Weighted average discount rate	3.60%
Remaining operating lease term	10 years

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

The components of income tax expense (benefit) are as follows:


	For the Years Ended December 31,
(In thousands)	2022		2021		2020
Current:
Federal	$	7,794	$	5,018	$	5,350
State	1,365		897		671
Deferred:
Federal	(990)		(608)		(636)
State	(173)		(90)		(220)
Total income tax expense	$	7,996	$	5,217	$	5,165

A reconciliation of expected income tax expense (benefit), computed by applying the effective federal statutory rate of 21% for each year to income before income tax expense is as follows:


	For the Years Ended December 31,
(In thousands)	2022		2021		2020
Expected income tax expense	$	9,035	$	7,103	$	6,385
(Reductions) increases resulting from:
Tax-exempt income	(1,571)		(1,673)		(1,588)
State taxes, net of federal benefit	942		638		356
Share-based compensation adjustment	258		92		70
Federal tax credits	(473)		(357)		(336)
Other, net	(195)		(586)		278
Total income tax expense	$	7,996	$	5,217	$	5,165

Income tax expense in 2022 totaled $8.0 million compared to $5.2 million in 2021 and 2020. When measured as a percent of pre-tax income, the Company’s effective tax rate was 18.6% in 2022, 15.4% in 2021, and 17.0% in 2020.

The tax effects of temporary differences which give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:


	December 31,
(In thousands)	2022		2021
Deferred tax assets:
Allowance for credit losses	$	3,222	$	2,866
ASC 715 pension funding liability	1,594		1,952
Supplemental executive retirement plan accrual	2,311		2,293
Stock compensation	2,745		1,875
Unrealized loss on investment securities available-for-sale (1)	16,798		—
Research and development expenses	772		—
Lease liability	2,261		1,145
Other	640		633
Total deferred tax assets	$	30,343	$	10,764
Deferred tax liabilities:
Premises and equipment	$	(1,710)	$	(2,235)
Pension	(1,141)		(531)
Intangible assets	(1,744)		(1,493)
Unrealized gain on investment securities available-for-sale	—		(2,185)
Right of use asset	(2,178)		(1,032)
Prepaid expenses	(847)		(479)
Other	(144)		(18)
Total deferred tax liabilities	$	(7,764)	$	(7,973)
Net deferred tax assets	$	22,579	$	2,791

(1)The deferred tax asset associated with the unrealized losses on securities is mainly a result of changes in interest rates, and the unrealized losses are considered to be temporary as the fair value is expected to recover as the securities approach their respective maturity dates. The issuers of the securities are of high credit quality and all principal amounts are expected to be paid when the securities mature. The Company does not intend to sell and it is likely that the Company will not be required to sell the securities prior to their anticipated recovery.

A valuation allowance would be provided on deferred tax assets when it is more likely than not that some portion of the assets will not be realized. The Company has not established a valuation allowance at December 31, 2022 or 2021, due to management’s belief that it is more likely than not that the deferred tax asset is realizable.

The reconciliation of the beginning unrecognized tax benefits balance to the ending balance is presented in the following table:


(In thousands)	2022		2021		2020
Balance at January 1	$	1,405	$	1,231	$	1,299
Changes in unrecognized tax benefits as a result of tax positions taken during a prior year	(176)		165		62
Changes in unrecognized tax benefits as a result of tax position taken during the current year	222		239		233
Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations	(199)		(230)		(315)
Decreases in unrecognized tax benefits as a result of settlements with taxing authorities	—		—		(48)
Balance at December 31	$	1,252	$	1,405	$	1,231

At December 31, 2022, 2021 and 2020, the balances of the Company’s unrecognized tax benefits which would, if recognized, affect the Company’s effective tax rate were $1,129,000, $1,134,000 and $1,096,000, respectively. These amounts are net of the offsetting benefits from other taxing jurisdictions.

As of December 31, 2022, 2021 and 2020, the Company had $84,000, $85,000 and $114,000, respectively, in accrued interest related to unrecognized tax benefits.

The Company believes it is reasonably possible that the total amount of unrecognized tax benefits will decrease by approximately $254,000 over the next 12 months. The reduction primarily relates to the anticipated lapse in the statute of limitations. The unrecognized tax benefits relate primarily to apportionment of taxable income among various state tax jurisdictions.

The Company is subject to income tax in the U.S. federal jurisdiction, numerous state jurisdictions, and a foreign jurisdiction. The Company’s federal income tax returns for tax years 2019, 2020 and 2021 remain subject to examination by the Internal Revenue Service. In addition, the Company is subject to state tax examinations for the tax years 2018 through 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Disclosures about Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

Following is a summary of the carrying amounts and fair values of the Company’s financial instruments:


	December 31,
	2022				2021
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Balance sheet assets:
Cash and cash equivalents	$	200,942	$	200,942	$	514,928	$	514,928
Investment securities	754,468		754,468		673,453		673,453
Loans, net	1,069,367		1,004,682		948,526		948,701
Accrued interest receivable	8,297		8,297		6,799		6,799
Total	$	2,033,074	$	1,968,389	$	2,143,706	$	2,143,881

Balance sheet liabilities:
Deposits	$	1,257,217	$	1,257,217	$	1,221,503	$	1,221,503
Accounts and drafts payable	1,067,600		1,067,600		1,050,396		1,050,396
Accrued interest payable	66		66		16		16
Total	$	2,324,883	$	2,324,883	$	2,271,915	$	2,271,915

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 1.13	$ 1.09	$ 1.08
Issuance of common shares pursuant to stock-based compensation plan, net (in shares)	82,172	85,056	72,448
Purchase of common shares (in shares)	130,374	713,857	162,901

Investment Securities - Schedule of Investment Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Marketable Securities [Line Items]
Amortized Cost	$ 825,047	$ 664,271
Gross Unrealized Gains	54	13,138
Gross Unrealized Losses	(70,633)	(3,956)
Fair Value	754,468	673,453
State and political subdivisions
Marketable Securities [Line Items]
Amortized Cost	317,376	359,187
Gross Unrealized Gains	54	12,931
Gross Unrealized Losses	(22,304)	(990)
Fair Value	295,126	371,128
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises
Marketable Securities [Line Items]
Amortized Cost	205,175	170,711
Gross Unrealized Gains	0	135
Gross Unrealized Losses	(31,236)	(2,200)
Fair Value	173,939	168,646
Corporate bonds
Marketable Securities [Line Items]
Amortized Cost	96,348	84,538
Gross Unrealized Gains	0	72
Gross Unrealized Losses	(11,251)	(272)
Fair Value	85,097	84,338
Treasury securities
Marketable Securities [Line Items]
Amortized Cost	158,935
Gross Unrealized Gains	0
Gross Unrealized Losses	(3,652)
Fair Value	155,283
Asset backed securities issued or guaranteed by U.S. Government agencies or sponsored enterprises
Marketable Securities [Line Items]
Amortized Cost	47,213	49,835
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(2,190)	(494)
Fair Value	$ 45,023	$ 49,341

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2022	Feb. 15, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
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 $0.50 per share
Trading Symbol	CASS
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 520.7
Entity Common Stock, Shares Outstanding		13,710,353
Documents Incorporated by Reference	Certain information required for Part III of this report is incorporated by reference to the Registrant’s Proxy Statement for the 2023 Annual Meeting of Shareholders.
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0000708781

Loans - Schedule of the Aging of Loans by Loan Categories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Loans	$ 1,082,906	$ 960,567
Non- accrual	1,150	0
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans	561,616	450,336
Non- accrual	1,150	0
Real Estate, Commercial, Mortgage
Financing Receivable, Past Due [Line Items]
Loans	108,166	108,759
Non- accrual	0	0
Real Estate, Commercial, Construction
Financing Receivable, Past Due [Line Items]
Loans	17,874	24,797
Non- accrual	0	0
Real Estate, Faith-Based, Mortgage
Financing Receivable, Past Due [Line Items]
Loans	387,114	355,582
Non- accrual	0	0
Real Estate, Faith-based, Construction
Financing Receivable, Past Due [Line Items]
Loans	8,094	14,664
Non- accrual	0	0
PPP
Financing Receivable, Past Due [Line Items]
Loans	0	6,299
Non- accrual	0	0
Other
Financing Receivable, Past Due [Line Items]
Loans	42	130
Non- accrual	0	0
Current
Financing Receivable, Past Due [Line Items]
Loans	1,081,756	960,567
Current \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans	560,466	450,336
Current \| Real Estate, Commercial, Mortgage
Financing Receivable, Past Due [Line Items]
Loans	108,166	108,759
Current \| Real Estate, Commercial, Construction
Financing Receivable, Past Due [Line Items]
Loans	17,874	24,797
Current \| Real Estate, Faith-Based, Mortgage
Financing Receivable, Past Due [Line Items]
Loans	387,114	355,582
Current \| Real Estate, Faith-based, Construction
Financing Receivable, Past Due [Line Items]
Loans	8,094	14,664
Current \| PPP
Financing Receivable, Past Due [Line Items]
Loans	0	6,299
Current \| Other
Financing Receivable, Past Due [Line Items]
Loans	42	130
30-59 Days
Financing Receivable, Past Due [Line Items]
Loans	0	0
30-59 Days \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans	0	0
30-59 Days \| Real Estate, Commercial, Mortgage
Financing Receivable, Past Due [Line Items]
Loans	0	0
30-59 Days \| Real Estate, Commercial, Construction
Financing Receivable, Past Due [Line Items]
Loans	0	0
30-59 Days \| Real Estate, Faith-Based, Mortgage
Financing Receivable, Past Due [Line Items]
Loans	0	0
30-59 Days \| Real Estate, Faith-based, Construction
Financing Receivable, Past Due [Line Items]
Loans	0	0
30-59 Days \| PPP
Financing Receivable, Past Due [Line Items]
Loans	0	0
30-59 Days \| Other
Financing Receivable, Past Due [Line Items]
Loans	0	0
60-89 Days
Financing Receivable, Past Due [Line Items]
Loans	0	0
60-89 Days \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans	0	0
60-89 Days \| Real Estate, Commercial, Mortgage
Financing Receivable, Past Due [Line Items]
Loans	0	0
60-89 Days \| Real Estate, Commercial, Construction
Financing Receivable, Past Due [Line Items]
Loans	0	0
60-89 Days \| Real Estate, Faith-Based, Mortgage
Financing Receivable, Past Due [Line Items]
Loans	0	0
60-89 Days \| Real Estate, Faith-based, Construction
Financing Receivable, Past Due [Line Items]
Loans	0	0
60-89 Days \| PPP
Financing Receivable, Past Due [Line Items]
Loans	0	0
60-89 Days \| Other
Financing Receivable, Past Due [Line Items]
Loans	0	0
90 Days and Over
Financing Receivable, Past Due [Line Items]
Loans	0	0
90 Days and Over \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans	0	0
90 Days and Over \| Real Estate, Commercial, Mortgage
Financing Receivable, Past Due [Line Items]
Loans	0	0
90 Days and Over \| Real Estate, Commercial, Construction
Financing Receivable, Past Due [Line Items]
Loans	0	0
90 Days and Over \| Real Estate, Faith-Based, Mortgage
Financing Receivable, Past Due [Line Items]
Loans	0	0
90 Days and Over \| Real Estate, Faith-based, Construction
Financing Receivable, Past Due [Line Items]
Loans	0	0
90 Days and Over \| PPP
Financing Receivable, Past Due [Line Items]
Loans	0	0
90 Days and Over \| Other
Financing Receivable, Past Due [Line Items]
Loans	$ 0	$ 0

Leases - Schedule of operating lease liabilities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Lease payments due
Less than 1 year	$ 1,348
1-2 years	1,327
2-3 years	1,345
3-4 years	1,351
4-5 years	1,357
Over 5 years	4,219
Total undiscounted cash flows	10,947
Discount on cash flows	1,448
Total lease liability	$ 9,499

CONSOLIDATED STATEMENTS OF INCOME - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fee Revenue and Other Income:
Fee revenues	$ 121,657,000	$ 108,691,000	$ 98,903,000
Other	4,755,000	2,369,000	2,696,000
Total fee revenue and other income	124,982,000	109,691,000	100,441,000
Interest Income:
Interest and fees on loans	39,460,000	35,178,000	37,665,000
Interest and dividends on securities:
Taxable	10,083,000	2,547,000	1,692,000
Exempt from federal income taxes	6,354,000	7,046,000	7,104,000
Interest on federal funds sold and other short-term investments	6,429,000	726,000	1,226,000
Total interest income	62,326,000	45,497,000	47,687,000
Interest Expense:
Interest on deposits	3,482,000	1,171,000	2,360,000
Interest on short-term borrowings	0	0	2,000
Total interest expense	3,482,000	1,171,000	2,362,000
Net interest income	58,844,000	44,326,000	45,325,000
Provision for (release of) credit losses	1,350,000	(130,000)	810,000
Net interest income after provision for (release of) credit losses	57,494,000	44,456,000	44,515,000
Total net revenue	182,476,000	154,147,000	144,956,000
Operating Expense:
Personnel	106,474,000	92,155,000	88,062,000
Occupancy	3,676,000	3,824,000	3,739,000
Equipment	6,668,000	6,745,000	6,568,000
Amortization of intangible assets	680,000	859,000	859,000
Other operating	22,078,000	16,743,000	15,387,000
Total operating expense	139,576,000	120,326,000	114,615,000
Income before income tax expense	42,900,000	33,821,000	30,341,000
Income tax expense	7,996,000	5,217,000	5,165,000
Net income	$ 34,904,000	$ 28,604,000	$ 25,176,000
Basic Earnings Per Share (in dollars per share)	$ 2.58	$ 2.03	$ 1.75
Diluted Earnings Per Share (in dollars per share)	$ 2.53	$ 2.00	$ 1.73
Information Services
Fee Revenue and Other Income:
Fee revenues	$ 120,227,000	$ 107,322,000	$ 97,745,000
Processing fees
Fee Revenue and Other Income:
Fee revenues	76,470,000	74,589,000	74,638,000
Financial fees
Fee Revenue and Other Income:
Fee revenues	$ 43,757,000	$ 32,733,000	$ 23,107,000

Industry Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Summarized information about the Company’s operations in each industry segment for the years ended December 31, 2022, 2021 and 2020 is as follows:


(In thousands)	Information Services		Banking Services		Corporate, Eliminations and Other		Total
2022
Fee income	$	120,234	$	3,606	$	1,142	$	124,982
Interest income*	28,528		40,913		(5,426)		64,015
Interest expense	166		4,143		(827)		3,482
Intersegment income (expense)	(3,350)		3,350		—		—

Tax-equivalized pre-tax income*	26,478		21,566		(3,455)		44,589
Goodwill	17,173		136		—		17,309
Other intangible assets, net	4,126		—		—		4,126
Total assets	1,595,939		1,182,439		(205,355)		2,573,023
Average funding sources	1,379,355		953,346		—		2,332,701
2021
Fee income	$	106,678	$	1,405	$	1,608	$	109,691
Interest income*	24,332		24,732		(1,694)		47,370
Interest expense	—		1,171		—		1,171
Intersegment income (expense)	(3,222)		3,222		—		—

Tax-equivalized pre-tax income*	25,446		11,004		(756)		35,694
Goodwill	14,126		136		—		14,262
Other intangible assets, net	2,564		—		—		2,564
Total assets	1,450,594		1,090,626		13,681		2,554,901
Average funding sources	1,150,493		876,018		—		2,026,511
2020
Fee income	$	97,640	$	1,515	$	1,286	$	100,441
Interest income*	20,343		29,494		(261)		49,576
Interest expense	—		2,362		—		2,362
Intersegment income (expense)	(2,315)		2,315		—		—

Tax-equivalized pre-tax income*	16,230		14,973		1,027		32,230
Goodwill	14,126		136		—		14,262
Other intangible assets, net	3,423		—		—		3,423
Total assets	1,188,745		997,483		17,007		2,203,235
Average funding sources	902,486		737,962		—		1,640,448

*Presented on a tax-equivalent basis assuming a tax rate of 21%. The tax-equivalent adjustment was approximately $1.7 million for 2022, $1.9 million for 2021, and $1.9 million for 2020.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. 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. At December 31, 2022, an allowance for unfunded commitments of $232,000 had been recorded, as compared to $367,000 at December 31, 2021. See Note 1 "Summary of Significant Accounting Policies" for information related to CECL.

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 commitments issued by the Company 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. The approximate remaining terms of commercial and standby letters of credit range from less than one to five years. Since these 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 may obtain and liquidate the collateral to recover amounts paid under its guarantees on these financial instruments.

The following table shows commitments to extend credit, standby letters of credit and commercial letters:


	December 31,
(In thousands)	2022		2021
Commitments to extend credit	$	237,006	$	208,395
Standby letters of credit	14,494		12,859
Commercial letters of credit	354		771

The fair value of commitments to extend credit and standby letters of credit is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements, the likelihood of the counterparties drawing on such financial instruments and the present credit worthiness of such counterparties. The Company believes such commitments have been made at terms which are competitive in the markets in which it operates; however, no premium or discount is offered thereon.

The Company and its subsidiaries are not involved in any pending proceedings other than ordinary routine litigation incidental to their businesses. Management believes none of these proceedings, if determined adversely, would have a material effect on the business or financial condition of the Company or its subsidiaries.

Loans by Type - Summary of Loan Categories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Participating Mortgage Loans [Line Items]
Total loans	$ 1,082,906	$ 960,567
Commercial and industrial
Participating Mortgage Loans [Line Items]
Total loans	561,616	450,336
Real Estate, Commercial, Mortgage
Participating Mortgage Loans [Line Items]
Total loans	108,166	108,759
Real Estate, Commercial, Construction
Participating Mortgage Loans [Line Items]
Total loans	17,874	24,797
Real Estate, Faith-Based, Mortgage
Participating Mortgage Loans [Line Items]
Total loans	387,114	355,582
Real Estate, Faith-based, Construction
Participating Mortgage Loans [Line Items]
Total loans	8,094	14,664
PPP
Participating Mortgage Loans [Line Items]
Total loans	0	6,299
Other
Participating Mortgage Loans [Line Items]
Total loans	$ 42	$ 130

Common Stock and Earnings per Share - Schedule of Calculations of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Basic:
Net income	$ 34,904	$ 28,604	$ 25,176
Weighted average common shares outstanding (in shares)	13,552,503	14,091,773	14,364,406
Basic Earnings Per Share (in dollars per share)	$ 2.58	$ 2.03	$ 1.75
Diluted:
Net income	$ 34,904	$ 28,604	$ 25,176
Weighted average common shares outstanding (in shares)	13,552,503	14,091,773	14,364,406
Effect of dilutive restricted stock, performance based restricted stock (“PBRS”), and SARs (in shares)	255,526	238,103	202,541
Weighted average common shares outstanding assuming dilution (in shares)	13,808,029	14,329,876	14,566,947
Diluted Earnings Per Share (in dollars per share)	$ 2.53	$ 2.00	$ 1.73

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue, Performance Obligation [Abstract]
Fee revenues	$ 121,657	$ 108,691	$ 98,903
Other income (out-of-scope of ASC 606)	3,325	1,000	1,538
Total fee revenue and other income	124,982	109,691	100,441
Information Services
Revenue, Performance Obligation [Abstract]
Fee revenues	120,227	107,322	97,745
Processing fees
Revenue, Performance Obligation [Abstract]
Fee revenues	76,470	74,589	74,638
Financial fees
Revenue, Performance Obligation [Abstract]
Fee revenues	43,757	32,733	23,107
Financial fees
Revenue, Performance Obligation [Abstract]
Fee revenues	$ 1,430	$ 1,369	$ 1,158

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Loans - Summary of ACL by Category (Details) - USD ($)	12 Months Ended
Loans - Summary of ACL by Category (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Allowance for credit losses on loans:
Beginning balance	$ 12,041,000
Ending balance	13,539,000	$ 12,041,000
Loans Excluding Unfunded Commitments
Allowance for credit losses on loans:
Beginning balance	12,041,000	11,944,000
Provision for (release of) credit losses	1,485,000	70,000
Recoveries	13,000	27,000
Ending balance	13,539,000	12,041,000
Unfunded Loan Commitment
Allowance for credit losses on loans:
Release of credit losses for unfunded commitments	(135,000)	(200,000)
C&I \| Loans Excluding Unfunded Commitments
Allowance for credit losses on loans:
Beginning balance	5,034,000	4,635,000
Provision for (release of) credit losses	931,000	387,000
Recoveries	13,000	12,000
Ending balance	5,978,000	5,034,000
CRE \| Loans Excluding Unfunded Commitments
Allowance for credit losses on loans:
Beginning balance	1,031,000	1,175,000
Provision for (release of) credit losses	(91,000)	(144,000)
Recoveries	0	0
Ending balance	940,000	1,031,000
Faith-based CRE \| Loans Excluding Unfunded Commitments
Allowance for credit losses on loans:
Beginning balance	5,684,000	5,717,000
Provision for (release of) credit losses	753,000	(48,000)
Recoveries	0	15,000
Ending balance	6,437,000	5,684,000
Construction \| Loans Excluding Unfunded Commitments
Allowance for credit losses on loans:
Beginning balance	292,000	417,000
Provision for (release of) credit losses	(108,000)	(125,000)
Recoveries	0	0
Ending balance	$ 184,000	$ 292,000

Income Taxes - Schedule of Reconciliation of Expected Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Expected income tax expense	$ 9,035	$ 7,103	$ 6,385
(Reductions) increases resulting from:
Tax-exempt income	(1,571)	(1,673)	(1,588)
State taxes, net of federal benefit	942	638	356
Share-based compensation adjustment	258	92	70
Federal tax credits	(473)	(357)	(336)
Other, net	(195)	(586)	278
Total income tax expense	$ 7,996	$ 5,217	$ 5,165

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Employee Benefit Plans - Schedule of Expected Future Benefits Payable (Details) - SERP	Dec. 31, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2023	$ 810,000
2024	791,000
2025	788,000
2026	785,000
2027	780,000
2026-2030	$ 3,787,000

Acquired Intangible Assets - Narrative (Details)	1 Months Ended	12 Months Ended
Acquired Intangible Assets - Narrative (Details)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2022 yr
Finite-Lived Intangible Assets [Line Items]
Goodwill		$ 17,309,000	$ 14,262,000	$ 14,262,000
Amortization of intangible assets		680,000	$ 859,000	$ 859,000
Amortization expense, next rolling twelve months		780,000
Amortization expense, rolling year two		738,000
Amortization expense, rolling year three		730,000
Amortization expense, rolling year four		582,000
Amortization expense, rolling year five		262,000
Touchpoint
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 5,300,000
Goodwill	3,000,000
Payments to acquire assets	4,900,000
Contingent consideration, earn out	389,000
Contingent consideration, change in amount of contingent consideration, liability		$ 389,000
Touchpoint \| Measurement Input, Expected Term
Finite-Lived Intangible Assets [Line Items]
Contingent consideration, measurement input \| yr					4
Maximum \| Touchpoint
Finite-Lived Intangible Assets [Line Items]
Contingent consideration, earn out	2,500,000
Customer lists \| Touchpoint
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets acquired	1,700,000
Customer lists \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived, intangible assets, useful life		7 years
Customer lists \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived, intangible assets, useful life		10 years
Patent
Finite-Lived Intangible Assets [Line Items]
Finite-lived, intangible assets, useful life		18 years
Purchased software \| Touchpoint
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets acquired	368,000
Purchased software \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived, intangible assets, useful life		3 years
Purchased software \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived, intangible assets, useful life		7 years
Trade Name
Finite-Lived Intangible Assets [Line Items]
Finite-lived, intangible assets, useful life		20 years
Trade Name \| Touchpoint
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets acquired	$ 183,000
Other
Finite-Lived Intangible Assets [Line Items]
Finite-lived, intangible assets, useful life		15 years

Loans - Narrative (Details)	12 Months Ended
Loans - Narrative (Details)	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 loan
Receivables [Abstract]
Number of loans individually evaluated for impairment	1	0
Number of troubled debt restructured loans	0
Finance receivable, related parties \| $	$ 0

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue


	For the Years Ended December 31,
(In thousands)	2022		2021		2020
Fee revenue and other income
In-scope of ASC 606
Processing fees	$	76,470	$	74,589	$	74,638
Financial fees	43,757		32,733		23,107
Information services payment and processing revenue	120,227		107,322		97,745
Bank service fees	1,430		1,369		1,158
Fee revenue (in-scope of ASC 606)	121,657		108,691		98,903
Other income (out-of-scope of ASC 606)	3,325		1,000		1,538
Total fee revenue and other income	$	124,982	$	109,691	$	100,441

Acquired Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

Details of the Company’s intangible assets are as follows:


	December 31, 2022				December 31, 2021
(In thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Assets eligible for amortization:
Customer lists	$	6,470	$	(4,561)	$	4,778	$	(4,341)
Patent	72		(32)		72		(28)
Software	3,212		(1,508)		2,844		(1,104)
Trade Name	373		(42)		190		(22)
Other	500		(358)		500		(325)
Unamortized intangible assets:
Goodwill	17,309		—		14,262		—
Total intangible assets	$	27,936	$	(6,501)	$	22,646	$	(5,820)

Premises and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Premises and Equipment

A summary of premises and equipment is as follows:


	December 31,
(In thousands)	2022		2021
Land	$	873	$	873
Buildings	14,903		14,834
Leasehold improvements	2,044		2,036
Furniture, fixtures and equipment	14,668		13,551
Purchased software	4,648		4,640
Internally developed software	27,308		22,665
Total	64,444		58,599
Less accumulated depreciation	44,486		40,486
Total premises and equipment, net	$	19,958	$	18,113

Total depreciation charged to expense in 2022, 2021 and 2020 amounted to $4.0 million, $4.3 million, and $4.5 million, respectively.

Premises and Equipment - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation	$ 4,021	$ 4,313	$ 4,471

Employee Benefit Plans - Schedule of the Pretax amounts in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
The Plan
Defined Benefit Plan Disclosure [Line Items]
Prior service cost	$ 0	$ 0
Net actuarial loss (gain)	6,833	5,417
Total	6,833	5,417
SERP
Defined Benefit Plan Disclosure [Line Items]
Prior service cost	0	0
Net actuarial loss (gain)	(136)	2,783
Total	$ (136)	$ 2,783

Commitment and Contingencies - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Other Commitments [Line Items]
Allowance for unfunded commitments	$ 232,000	$ 367,000
Minimum
Other Commitments [Line Items]
Commercial and standby letters of credit, remaining duration, term	1 year
Maximum
Other Commitments [Line Items]
Commercial and standby letters of credit, remaining duration, term	5 years

Employee Benefit Plans - Narrative (Details) - USD ($)	12 Months Ended
Employee Benefit Plans - Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Employer contribution		$ 0	$ 330,000
Benefits paid		3,201,000	2,968,000
Service cost		0	1,002,000
401(k) employer contribution amount		$ 4,600,000	3,500,000	$ 1,500,000
Measurement Input, Long Term Rate Of Return
Defined Benefit Plan Disclosure [Line Items]
Plan assets, measurement input		0.0600
Core Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation percentage		68.50%
Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation percentage		14.00%
Non-U.S. Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation percentage		14.00%
Real estate investment trusts
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation percentage		3.50%
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation		$ 85,400,000	117,300,000
Employer contribution		0	330,000
Service cost		0	1,002,000	4,329,000
Pension Plan \| Estimated
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0
Net actuarial loss in accumulated other comprehensive loss	0
SERP
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation		9,600,000	12,400,000
Benefits paid		348,000	282,000	291,000
Service cost		0	147,000	121,000
SERP \| Estimated
Defined Benefit Plan Disclosure [Line Items]
Service cost	0
Net actuarial loss in accumulated other comprehensive loss	$ 0
Noncontributory Profit Sharing Program
Defined Benefit Plan Disclosure [Line Items]
Profit sharing expense		$ 7,900,000	$ 6,400,000	$ 5,700,000

Stock-Based Compensation - Summary of Company's SARs Activity (Details) - Stock Appreciation Rights (SARs)	12 Months Ended
	Dec. 31, 2022 $ / shares shares
SARs
Beginning balance (in shares) \| shares	117,089
Exercised (in shares) \| shares	(70,764)
Ending balance (in shares) \| shares	46,325
Weighted Average Exercise Price
Beginning balance (in dollars per share) \| $ / shares	$ 34.91
Exercised (in dollars per share) \| $ / shares	30.52
Ending balance (in dollars per share) \| $ / shares	$ 41.62

Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Parent Company

Following are the condensed balance sheets of the Company (parent company only) and the related condensed statements of income and cash flows.


	Condensed Balance Sheets December 31,
(In thousands)	2022		2021
Assets
Cash and due from banks	$	5,081	$	132,050
Short-term investments	26,834		585
Securities available-for-sale, at fair value	490,829		566,835
Loans, net	74,810		40,515
Payments in advance of funding	293,775		291,427
Investments in subsidiaries	164,907		164,650
Premises and equipment, net	19,525		17,443
Accounts and drafts receivable from customers	95,779		4,992
Other assets	119,627		90,948
Total assets	$	1,291,167	$	1,309,445
Liabilities and Shareholders’ Equity
Liabilities:
Accounts and drafts payable	$	1,057,463	$	1,041,070

Other liabilities	27,379		22,577
Total liabilities	1,084,842		1,063,647
Total shareholders’ equity	206,325		245,798
Total liabilities and shareholders’ equity	$	1,291,167	$	1,309,445


	Condensed Statements of Income For the Years Ended December 31,
(In thousands)	2022		2021		2020
Income from subsidiaries – management fees	$	4,315	$	3,115	$	2,854
Processing fees	74,382		72,579		72,513
Financial fees	42,243		31,847		22,565
Other fees	2,606		970		1,533
Net interest income after provision for (release of) credit losses	13,435		11,316		10,932
Total revenue	136,981		119,827		110,397
Expenses:
Salaries and employee benefits	94,047		80,434		77,577
Other expenses	32,406		27,406		25,347
Total expenses	126,453		107,840		102,924
Income before income tax and equity in undistributed income of subsidiaries	10,528		11,987		7,473
Income tax expense	1,242		635		340
Income before undistributed income of subsidiaries	9,286		11,352		7,133
Equity in undistributed income of subsidiaries	25,618		17,252		18,043
Net income	$	34,904	$	28,604	$	25,176


	Condensed Statements of Cash Flows For the Years Ended December 31,
(In thousands)	2022		2021		2020
Cash flows from operating activities:
Net income	$	34,904	$	28,604	$	25,176
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed income of subsidiaries	(25,618)		(17,252)		(18,043)
Net change in other assets	(4,640)		(212)		6,054
Net change in other liabilities	6,462		(9,307)		(6,525)
Stock-based compensation expense	6,732		2,859		2,267
Other, net	25,412		20,921		18,236
Net cash provided by operating activities	43,252		25,613		27,165
Cash flows from investing activities:
Net decrease (increase) in securities	3,064		(226,090)		65,689
Net (increase) decrease in loans	(34,295)		8,799		(2,545)
Net (increase) decrease in payments in advance of funding	(2,347)		(96,864)		11,595
Purchase of bank-owned life insurance	(4,000)		(25,119)		—
Purchases of premises and equipment, net	(5,851)		(2,233)		(1,810)
Asset acquisition of TouchPoint	(4,814)		—		—
Net cash (used in) provided by investing activities	(48,243)		(341,507)		72,929
Cash flows from financing activities:
Net (increase) decrease in accounts and drafts receivable from customers	(90,787)		6		59,404
Net increase in accounts and drafts payable	16,393		208,650		148,935
Short-term borrowings	—		—		(18,000)
Cash dividends paid	(15,442)		(15,446)		(15,599)
Purchase of common shares for treasury	(5,299)		(30,997)		(6,825)
Other financing activities, net	(594)		(850)		(1,098)
Net cash (used in) provided by financing activities	(95,729)		161,363		166,817
Net (decrease) increase in cash and cash equivalents	(100,720)		(154,531)		266,911
Cash and cash equivalents at beginning of year	132,635		287,166		20,255
Cash and cash equivalents at end of year	$	31,915	$	132,635	$	287,166

Other Operating Expense (Tables)

12 Months Ended

Dec. 31, 2022

Other Income and Expenses [Abstract]

Schedule of Other Operating Cost and Expense, by Component

Details of other operating expense are as follows:


	For the Years Ended December 31,
(In thousands)	2022		2021		2020
Promotional expense	$	2,889	$	2,627	$	2,184
Outside service fees	7,874		7,413		5,845
Data processing services	3,365		2,650		1,900
Other	7,950		4,053		5,458
Total other operating expense	$	22,078	$	16,743	$	15,387

Investment Securities - Schedule of the Fair Values of Securities with Unrealized Losses (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	$ 456,451	$ 328,196
AFS, Less than 12 Months, Unrealized Losses	22,374	3,956
AFS, 12 months or more, Estimated Fair Value	260,284	0
AFS, 12 months or more, Unrealized Losses	48,259	0
AFS, Total Estimated Fair Value	716,735	328,196
AFS, Total Unrealized Losses	70,633	3,956
State and political subdivisions
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	214,919	60,083
AFS, Less than 12 Months, Unrealized Losses	8,958	990
AFS, 12 months or more, Estimated Fair Value	47,474	0
AFS, 12 months or more, Unrealized Losses	13,346	0
AFS, Total Estimated Fair Value	262,393	60,083
AFS, Total Unrealized Losses	22,304	990
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	53,732	163,652
AFS, Less than 12 Months, Unrealized Losses	6,135	2,200
AFS, 12 months or more, Estimated Fair Value	118,017	0
AFS, 12 months or more, Unrealized Losses	25,101	0
AFS, Total Estimated Fair Value	171,749	163,652
AFS, Total Unrealized Losses	31,236	2,200
Corporate bonds
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	32,517	55,120
AFS, Less than 12 Months, Unrealized Losses	3,629	272
AFS, 12 months or more, Estimated Fair Value	47,580	0
AFS, 12 months or more, Unrealized Losses	7,622	0
AFS, Total Estimated Fair Value	80,097	55,120
AFS, Total Unrealized Losses	11,251	272
Treasury securities
Marketable Securities [Line Items]
AFS, Less than 12 months, Estimated Fair Value	155,283
AFS, Less than 12 Months, Unrealized Losses	3,652
AFS, 12 months or more, Estimated Fair Value	0
AFS, 12 months or more, Unrealized Losses	0
AFS, Total Estimated Fair Value	155,283
AFS, Total Unrealized Losses	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	49,341
AFS, Less than 12 Months, Unrealized Losses	0	494
AFS, 12 months or more, Estimated Fair Value	47,213	0
AFS, 12 months or more, Unrealized Losses	2,190	0
AFS, Total Estimated Fair Value	47,213	49,341
AFS, Total Unrealized Losses	$ 2,190	$ 494

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Adjustment	Adjusted Balance	Common Stock	Common Stock Adjusted Balance	Additional Paid-in Capital	Additional Paid-in Capital Adjusted Balance	Retained Earnings	Retained Earnings Adjustment	Retained Earnings Adjusted Balance	Treasury Stock	Treasury Stock Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Adjusted Balance
Beginning balance at Dec. 31, 2019	$ 244,190	$ (856)	$ 243,334	$ 7,753	$ 7,753	$ 205,397	$ 205,397	$ 90,341	$ (856)	$ 89,485	$ (45,381)	$ (45,381)	$ (13,920)	$ (13,920)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	25,176							25,176
Cash dividends	(15,599)							(15,599)
Issuance of common shares pursuant to stock-based compensation plan, net	(996)					(2,546)					1,550
Exercise of SARs	(102)					(243)					141
Stock-based compensation expense	2,267					2,267
Purchase of common shares	(6,825)										(6,825)
Other comprehensive (loss) income	13,905												13,905
Ending balance at Dec. 31, 2020	261,160			7,753		204,875		99,062			(50,515)		(15)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	28,604							28,604
Cash dividends	(15,446)							(15,446)
Issuance of common shares pursuant to stock-based compensation plan, net	(690)					(2,939)					2,249
Exercise of SARs	(160)					(519)					359
Stock-based compensation expense	2,859					2,859
Purchase of common shares	(30,997)										(30,997)
Other comprehensive (loss) income	468												468
Ending 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	34,904							34,904
Cash dividends	(15,442)							(15,442)
Issuance of common shares pursuant to stock-based compensation plan, net	(313)					(2,727)					2,414
Exercise of SARs	(281)					(859)					578
Stock-based compensation expense	6,732					6,732
Purchase of common shares	(5,299)										(5,299)
Other comprehensive (loss) income	(59,774)												(59,774)
Ending balance at Dec. 31, 2022	$ 206,325			$ 7,753		$ 207,422		$ 131,682			$ (81,211)		$ (59,321)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI https://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax expense	$ 7,996,000	$ 5,217,000	$ 5,165,000
Effective tax rate	18.60%	15.40%	17.00%
Unrecognized tax benefits that would impact effective tax rate	$ 1,129,000	$ 1,134,000	$ 1,096,000
Unrecognized tax benefit, interest on income taxes accrued	84,000	$ 85,000	$ 114,000
Reduction of tax benefits over the next twelve months	$ 254,000

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Commitments and Contingencies - Schedule of Commitments to Extend Credit, Standby Letters of Credit and Commercial Letters (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Other Commitments [Line Items]
Long-term line of credit	$ 0	$ 0
Standby letters of credit
Other Commitments [Line Items]
Long-term line of credit	14,494,000	12,859,000
Commercial letters of credit
Other Commitments [Line Items]
Long-term line of credit	354,000	771,000
Commitments to extend credit
Other Commitments [Line Items]
Long-term line of credit	$ 237,006,000	$ 208,395,000

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Employee Benefit Plans - Schedule of Projected Benefit Obligation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Projected benefit obligation:
Beginning balance	$ 117,323	$ 122,035
Service cost	$ 0	$ 1,002
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest expense	Interest expense
Interest cost	$ 3,293	$ 3,076
Actuarial gain	(31,982)	(5,822)
Benefits paid	(3,201)	(2,968)
Ending balance	85,433	117,323
Plan assets:
Fair value, January 1	114,136	106,667
Actual investment return	(26,820)	10,107
Employer contribution	0	330
Expenses paid from plan assets	(721)	0
Benefits paid	(3,201)	(2,968)
Fair value, December 31	83,394	114,136
Funded status:
Accrued pension liability	$ (2,039)	$ (3,187)

Condensed Financial Information of Parent Company - Schedule of Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 34,904	$ 28,604	$ 25,176
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation expense	6,732	2,859	2,267
Other, net	3,104	(6,330)	3,792
Net cash provided by operating activities	51,608	34,547	47,781
Cash flows from investing activities:
Net decrease (increase) in securities	(232,083)	(494,226)	(20,043)
Net increase in loans	(122,326)	(68,664)	(119,183)
Net (increase) decrease in payments in advance of funding	(2,348)	(96,864)	11,595
Purchase of bank-owned life insurance	(4,000)	(25,119)	0
Purchases of premises and equipment, net	(5,866)	(4,369)	(2,001)
Net cash used in investing activities	(306,390)	(528,517)	(43,900)
Cash flows from financing activities:
Net (increase) decrease in accounts and drafts receivable from customers	(90,787)	6	59,404
Net decrease in short-term borrowings	0	0	(18,000)
Cash dividends paid	(15,442)	(15,446)	(15,599)
Purchase of common shares for treasury	(5,299)	(30,997)	(6,825)
Other financing activities, net	(594)	(850)	(1,098)
Net cash (used in) provided by financing activities	(59,204)	338,370	462,693
Net (decrease) increase in cash and cash equivalents	(313,986)	(155,600)	466,574
Parent Company
Cash flows from operating activities:
Net income	34,904	28,604	25,176
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed income of subsidiaries	(25,618)	(17,252)	(18,043)
Net change in other assets	(4,640)	(212)	6,054
Increase (Decrease) in Other Operating Liabilities	6,462	(9,307)	(6,525)
Stock-based compensation expense	6,732	2,859	2,267
Other, net	25,412	20,921	18,236
Net cash provided by operating activities	43,252	25,613	27,165
Cash flows from investing activities:
Net decrease (increase) in securities	3,064	(226,090)	65,689
Net increase in loans	(34,295)	8,799	(2,545)
Net (increase) decrease in payments in advance of funding	(2,347)	(96,864)	11,595
Purchase of bank-owned life insurance	(4,000)	(25,119)	0
Purchases of premises and equipment, net	(5,851)	(2,233)	(1,810)
Asset acquisition of TouchPoint	(4,814)	0	0
Net cash used in investing activities	(48,243)	(341,507)	72,929
Cash flows from financing activities:
Net (increase) decrease in accounts and drafts receivable from customers	(90,787)	6	59,404
Net increase in accounts and drafts payable	16,393	208,650	148,935
Net decrease in short-term borrowings	0	0	(18,000)
Cash dividends paid	(15,442)	(15,446)	(15,599)
Purchase of common shares for treasury	(5,299)	(30,997)	(6,825)
Other financing activities, net	(594)	(850)	(1,098)
Net cash (used in) provided by financing activities	(95,729)	161,363	166,817
Net (decrease) increase in cash and cash equivalents	(100,720)	(154,531)	266,911
Cash and cash equivalents at beginning of year	132,635	287,166	20,255
Cash and cash equivalents at end of year	$ 31,915	$ 132,635	$ 287,166

Condensed Financial Information of Parent Company - Schedule of Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 20,995	$ 12,301
Short-term investments	179,947	502,627
Securities available-for-sale, at fair value	754,468	673,453
Loans, net	1,069,367	948,526
Payments in advance of funding	293,775	291,427
Premises and equipment, net	19,958	18,113
Accounts and drafts receivable from customers	95,779	4,992
Other assets	69,301	43,460
Total assets	2,573,023	2,554,901	$ 2,203,235
Liabilities:
Accounts and drafts payable	1,067,600	1,050,396
Other liabilities	41,881	37,204
Total liabilities	2,366,698	2,309,103
Total shareholders’ equity	206,325	245,798	$ 261,160	$ 244,190
Total liabilities and shareholders’ equity	2,573,023	2,554,901
Parent Company
Assets
Cash and due from banks	5,081	132,050
Short-term investments	26,834	585
Securities available-for-sale, at fair value	490,829	566,835
Loans, net	74,810	40,515
Payments in advance of funding	293,775	291,427
Investments in subsidiaries	164,907	164,650
Premises and equipment, net	19,525	17,443
Accounts and drafts receivable from customers	95,779	4,992
Other assets	119,627	90,948
Total assets	1,291,167	1,309,445
Liabilities:
Accounts and drafts payable	1,057,463	1,041,070
Other liabilities	27,379	22,577
Total liabilities	1,084,842	1,063,647
Total shareholders’ equity	206,325	245,798
Total liabilities and shareholders’ equity	$ 1,291,167	$ 1,309,445

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsIn accordance with FASB ASC 855, Subsequent Events, the Company has evaluated subsequent events after the consolidated balance sheet date of December 31, 2022, and there were no events identified that would require additional disclosures to prevent the Company’s consolidated financial statements from being misleading.

Employee Benefit Plans - Summary of the Fair Value Measurements by Type of Asset (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	$ 83,394	$ 114,136	$ 106,667
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	566	535
Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	82,828	113,601
Cash
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	566	535
Cash \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	566	535
Cash \| Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Real estate investment trusts
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	7,120	6,250
Real estate investment trusts \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Real estate investment trusts \| Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	7,120	6,250
U.S. Small/Mid Cap Growth
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	2,055	4,734
U.S. Small/Mid Cap Growth \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
U.S. Small/Mid Cap Growth \| Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	2,055	4,734
Non-U. S. Core
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	7,822	19,164
Non-U. S. Core \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Non-U. S. Core \| Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	7,822	19,164
U.S. Large Cap Passive
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	8,319	18,279
U.S. Large Cap Passive \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
U.S. Large Cap Passive \| Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	8,319	18,279
Emerging Markets
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	3,000	7,701
Emerging Markets \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Emerging Markets \| Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	3,000	7,701
U.S. Core
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	51,756	51,386
U.S. Core \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
U.S. Core \| Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	51,756	51,386
U.S. Passive
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
U.S. Passive \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
U.S. Passive \| Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Opportunistic
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	2,756	6,087
Opportunistic \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	0	0
Opportunistic \| Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total plan assets	$ 2,756	$ 6,087

Capital Requirements and Regulatory Restrictions - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($)
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Unappropriated retained earnings	$ 29.2

Investment Securities (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities

The table below presents the balances of securities available-for-sale

measured at fair value on a recurring basis. The amortized cost, gross unrealized gains, gross unrealized losses and fair value of debt and equity securities are summarized as follows:


	December 31, 2022
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		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


	December 31, 2021
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
State and political subdivisions	$	359,187	$	12,931	$	(990)	$	371,128
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	170,711		135		(2,200)		168,646
Corporate bonds	84,538		72		(272)		$	84,338
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	49,835		—		(494)		49,341
Total	$	664,271	$	13,138	$	(3,956)	$	673,453

Unrealized Gain (Loss) on Investments

The fair values of securities with unrealized losses are as follows:


	December 31, 2022
	Less than 12 months				12 months or more				Total
(In thousands)	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
State and political subdivisions	$	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


	December 31, 2021
	Less than 12 months				12 months or more					Total
(In thousands)	Estimated Fair Value		Unrealized Losses		Estimated Fair Value			Unrealized Losses		Estimated Fair Value		Unrealized Losses
State and political subdivisions	$	60,083	$	990	$	—		$	—	$	60,083	$	990
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises	163,652		2,200		—			—		163,652		2,200
Corporate bonds	55,120		272		—		—	—		55,120		272
Asset backed securities issued or guaranteed by U.S. Government agencies or sponsored enterprises	49,341		494		—			—		49,341		494
Total	$	328,196	$	3,956	$	—		$	—	$	328,196	$	3,956

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense


	December 31, 2022
(In thousands)	Amortized Cost		Fair Value
Due in 1 year or less	$	65,686	$	65,221
Due after 1 year through 5 years	267,163		261,764
Due after 5 years through 10 years	232,235		205,277
Due after 10 years	259,963		222,206
Total	$	825,047	$	754,468

Unused Available Lines of Credit (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Long-term line of credit	$ 0	$ 0
Six Corresponding Banks
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	83,000,000
Federal Home Loan Bank
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	237,800,000
Two Corresponding Banks
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 200,000,000

- Definition

+ References + Details

Employee Benefit Plans

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Employee Benefit Plans

Defined Benefit Plan

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 Company froze the benefits of the Plan as of February 28, 2021. As such, subsequent to February 28, 2021, there is no service cost associated with the Plan.

A summary of the activity in the Plan’s projected benefit obligation, assets, funded status and amounts recognized in the Company’s consolidated balance sheets is as follows:


(In thousands)	2022		2021
Projected benefit obligation:
Balance, January 1	$	117,323	$	122,035
Service cost	—		1,002
Interest cost	3,293		3,076
Actuarial gain	(31,982)		(5,822)

Benefits paid	(3,201)		(2,968)
Balance, December 31	$	85,433	$	117,323
Plan assets:
Fair value, January 1	$	114,136	$	106,667
Actual investment return	(26,820)		10,107
Employer contribution	—		330
Expenses paid from plan assets	(721)		—
Benefits paid	(3,201)		(2,968)
Fair value, December 31	$	83,394	$	114,136
Funded status:
Accrued pension liability	$	(2,039)	(3,187)


	2022		2021		2020
Weighted average discount rate	5.25	%	2.85	%	2.55	%
Rate of increase in compensation levels	N/A		(a)		(a)

(a)6.0% graded down to 3.25% over the first seven years of service.

The accumulated benefit obligation was $85.4 million and $117.3 million as of December 31, 2022 and 2021, respectively. The Company made no contribution of during 2022, while in 2021 there was a contribution of $330,000 made to the Plan.

The Company has not determined if it will make a contribution to the Plan in 2023. The following pension benefit payments, as appropriate, are expected to be paid by the Plan:


	Amount
2023	$	4,193,000
2024	4,436,000
2025	4,636,000
2026	4,844,000
2027	5,048,000
2026-2030	27,845,000

The Plan’s (benefit) pension cost included the following components:


	For the Year Ended December 31,
(In thousands)	2022		2021		2020
Service cost – benefits earned during the year	$	—	$	1,002	$	4,329
Interest cost on projected benefit obligations	3,293		3,076		3,908
Expected return on plan assets	(5,857)		(6,310)		(6,049)
Net amortization and deferral	—		393		1,946
Net periodic (benefit) pension cost	$	(2,564)	$	(1,839)	$	4,134

The following represent the major assumptions used to determine the net (benefit) pension cost of the Plan:


	2022		2021		2020
Weighted average discount rate	2.85	%	2.55	%	3.30	%
Rate of increase in compensation levels	N/A		(a )		(a )
Expected long-term rate of return on assets	6.00	%	6.00	%	6.50	%

(a)6.0% graded down to 3.25% over the first seven years of service.

For 2022, the Pri-2012 Mortality Table and the MP-2021 Mortality Improvement Table were used. For 2021, the Pri-2012 Mortality Table and the MP-2020 Mortality Improvement Table were used. For 2020, the Pri-2012 Mortality Table and the MP-2019 Mortality Improvement Table were used.

The investment objective for the Plan is to maximize total return with a tolerance for average risk. Asset allocation is a balance between fixed income and equity investments, with a target allocation of approximately 68.5% fixed income, 14.0% U.S. equity, 14.0% non-U.S. equity, and real estate 3.5%. Due to volatility in the market, this target allocation is not always desirable and asset allocations can fluctuate between acceptable ranges. The fixed income component is invested in pooled investment grade securities. The equity components are invested in pooled large cap, small/mid cap and non-U.S. stocks. The expected one-year nominal returns and annual standard deviations are shown by asset class below:


Asset Class	% of Total Portfolio		One-Year Nominal Return		Annual Standard Deviation
Core Fixed Income	68.5	%	5.46	%	10.49	%
Large Cap U.S. Equities	14.0	%	7.98	%	17.66	%

International (Developed)	10.0	%	9.07	%	18.52	%
International (Emerging)	4.0	%	11.91	%	26.71	%
Real Estate	3.5	%	7.19	%	15.13	%

Applying appropriate correlation factors between each of the asset classes the long-term rate of return on assets is estimated to be 6.00%.

A summary of the fair value measurements by type of asset is as follows:


	Fair Value Measurements as of December 31,
	2022						2021
(In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Observable Inputs (Level 2)		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Observable Inputs (Level 2)
Cash	$	566	$	566	$	—	$	535	$	535	$	—
Real estate investment trusts	7,120		—		7,120		6,250		—		6,250
Equity securities
U.S. Small/Mid Cap Growth	2,055		—		2,055		4,734		—		4,734
Non-U. S. Core	7,822		—		7,822		19,164		—		19,164
U.S. Large Cap Passive	8,319		—		8,319		18,279		—		18,279
Emerging Markets	3,000		—		3,000		7,701		—		7,701
Fixed Income
U.S. Core	51,756		—		51,756		51,386		—		51,386
U.S. Passive	—		—		—		—		—		—
Opportunistic	2,756		—		2,756		6,087		—		6,087
Total	$	83,394	$	566	$	82,828	$	114,136	$	535	$	113,601

Supplemental Executive Retirement Plan

The Company also has an unfunded supplemental executive retirement plan (“SERP”) which covers key executives of the Company whose benefits are limited by the Internal Revenue Service under the Company’s qualified retirement plan. The SERP is a noncontributory plan in which the Company’s subsidiaries make accruals designed to fund normal service costs on a current basis using the same method and criteria as the Plan.

A summary of the activity in the SERP’s projected benefit obligation and amounts recognized in the Company’s consolidated balance sheets is as follows:


	December 31,
(In thousands)	2022		2021
Benefit obligation:
Balance, January 1	$	12,420	$	13,412
Service cost	—		147
Interest cost	318		291
Benefits paid	(348)		(282)
Actuarial gain	(2,811)		(1,148)
Balance, December 31	$	9,579	$	12,420


	2022		2021		2020
Weighted average discount rate	5.15	%	2.65	%	2.20	%
Rate of increase in compensation levels	N/A		(a)		(a)

(a)6.00% graded down to 3.25% over the first seven years of service.

The accumulated benefit obligation was $9.6 million and $12.4 million as of December 31, 2022 and 2021, respectively. Since this is an unfunded plan, there are no plan assets. Benefits paid were $348,000 in 2022, $282,000 in 2021, and $291,000 in 2020. Expected future benefits payable by the Company over the next ten years are as follows:


	Amount
2023	$	810,000
2024	791,000
2025	788,000
2026	785,000
2027	780,000
2026-2030	$	3,787,000

Net periodic pension cost related to the SERP included the following components:


	For the Year Ended December 31,
(In thousands)	2022		2021		2020
Service cost – benefits earned during the year	$	—	$	147	$	121
Interest cost on projected benefit obligations	318		291		347
Net amortization and deferral	108		203		112
Net periodic pension cost	$	426	$	641	$	580

The pretax amounts in accumulated other comprehensive loss as of December 31 were as follows:


	The Plan				SERP
(In thousands)	2022		2021		2022		2021
Prior service cost	$	—	$	—	$	—	$	—
Net actuarial loss (gain)	6,833		5,417		(136)		2,783
Total	$	6,833	$	5,417	$	(136)	$	2,783

The estimated pretax prior service cost and net actuarial loss (gain) in accumulated other comprehensive loss at December 31, 2022 expected to be recognized as components of net periodic benefit cost in 2023 for the Plan are each $0. The estimated pretax prior service cost and net actuarial loss in accumulated other comprehensive loss at December 31, 2022 expected to be recognized as components of net periodic benefit cost in 2023 for the SERP are each $0.

The Company also maintains a noncontributory profit sharing program, which covers most of its employees. Employer contributions are calculated based upon formulas which relate to current operating results and other factors. Profit sharing expense recognized in personnel expense in the consolidated statements of income in 2022, 2021, and 2020 was $7.9 million, $6.4 million, and $5.7 million, respectively.

The Company also sponsors a defined contribution 401(k) plan to provide additional retirement benefits to substantially all employees. Contributions under the 401(k) plan for 2022, 2021 and 2020 were $4.6 million, $3.5 million, and $1.5 million, respectively. In conjunction with the freezing of the Plan, contribution rates to employees increased on March 1, 2021.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
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-Paragraph 2
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 3
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
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-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	St. Louis, MO
Auditor Firm ID	185

Interest-Bearing Deposits - Schedule of Interest on Deposits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest-Bearing Deposits [Abstract]
Interest-bearing demand deposits	$ 3,118	$ 582	$ 1,313
Savings deposits	38	9	24
Time deposits:
Less than $100	145	332	550
$100 to less than $250	79	109	206
$250 or more	102	139	267
Total	$ 3,482	$ 1,171	$ 2,360

Employee Benefit Plans - Schedule of Plan's Pension Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost – benefits earned during the year	$ 0	$ 1,002
Interest cost on projected benefit obligations	3,293	3,076
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost – benefits earned during the year	0	1,002	$ 4,329
Interest cost on projected benefit obligations	3,293	3,076	3,908
Expected return on plan assets	(5,857)	(6,310)	(6,049)
Net amortization and deferral	0	393	1,946
Net periodic pension cost	$ (2,564)	$ (1,839)	$ 4,134

Capital Requirements and Regulatory Restrictions (Tables)

12 Months Ended

Dec. 31, 2022

Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations

The Company’s and the Bank’s actual and required capital amounts and ratios are as follows:


	Actual				Capital Requirements				Requirement to be Well-Capitalized
(In thousands)	Amount		Ratio		Amount		Ratio		Amount	Ratio
At December 31, 2022
Total capital (to risk-weighted assets)
Cass Information Systems, Inc.	$	257,313	13.52	%	$	152,306	8.00	%	$ N/A	N/A %
Cass Commercial Bank	186,075		16.00		93,044		8.00		116,305	10.00
Common Equity Tier I Capital (to risk-weighted assets)
Cass Information Systems, Inc.	243,774		12.80		85,672		4.50		N/A	N/A
Cass Commercial Bank	172,848		14.86		52,337		4.50		75,598	6.50
Tier I capital (to risk-weighted assets)
Cass Information Systems, Inc.	243,774		12.80		114,229		6.00		N/A	N/A
Cass Commercial Bank	172,848		14.86		69,783		6.00		93,044	8.00
Tier I capital (to average assets)
Cass Information Systems, Inc.	243,774		9.52		102,386		4.00		N/A	N/A
Cass Commercial Bank	172,848		10.77		64,196		4.00		80,245	5.00
At December 31, 2021
Total capital (to risk-weighted assets)
Cass Information Systems, Inc.	$	240,265	14.86	%	$	129,339	8.00	%	$ N/A	N/A %
Cass Commercial Bank	174,614		17.21		81,163		8.00		101,454	10.00
Common Equity Tier I Capital (to risk-weighted assets)
Cass Information Systems, Inc.	228,224		14.11		72,764		4.50		N/A	N/A
Cass Commercial Bank	163,030		16.07		45,654		4.50		65,945	6.50
Tier I capital (to risk-weighted assets)
Cass Information Systems, Inc.	228,224		14.11		97,019		6.00		N/A	N/A
Cass Commercial Bank	163,030		16.07		60,872		6.00		81,163	8.00
Tier I capital (to average assets)
Cass Information Systems, Inc.	228,224		9.21		99,163		4.00		N/A	N/A
Cass Commercial Bank	163,030		11.05		59,036		4.00		73,795	5.00

Acquired Intangible Assets - Schedule of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Amortization [Abstract]
Accumulated Amortization	$ (6,501)	$ (5,820)
Unamortized intangible assets:
Goodwill, gross carrying amount	17,309	14,262
Total intangible assets, net	27,936	22,646
Total intangible assets, accumulated amortization	6,501	5,820
Customer lists
Amortization [Abstract]
Gross Carrying Amount	6,470	4,778
Accumulated Amortization	(4,561)	(4,341)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	4,561	4,341
Patent
Amortization [Abstract]
Gross Carrying Amount	72	72
Accumulated Amortization	(32)	(28)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	32	28
Software
Amortization [Abstract]
Gross Carrying Amount	3,212	2,844
Accumulated Amortization	(1,508)	(1,104)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	1,508	1,104
Trade Name
Amortization [Abstract]
Gross Carrying Amount	373	190
Accumulated Amortization	(42)	(22)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	42	22
Other
Amortization [Abstract]
Gross Carrying Amount	500	500
Accumulated Amortization	(358)	(325)
Unamortized intangible assets:
Total intangible assets, accumulated amortization	$ 358	$ 325

Summary of Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Line Items]
Percentage holding required to account investments under non-marketable equity investments	20.00%
Buildings \| Maximum
Accounting Policies [Line Items]
Premises, useful life	40 years
Leasehold Improvements \| Minimum
Accounting Policies [Line Items]
Premises, useful life	10 years
Property, Plant and Equipment, Other Types \| Minimum
Accounting Policies [Line Items]
Premises, useful life	3 years
Property, Plant and Equipment, Other Types \| Maximum
Accounting Policies [Line Items]
Premises, useful life	7 years

Stock-based Compensation

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stock-based Compensation

The Amended and Restated Omnibus Stock and Performance Compensation Plan (the “Omnibus Plan”) provides incentive opportunities for key employees and non-employee directors and to align the personal financial interests of such individuals with those of the Company’s shareholders. The Omnibus Plan permits the issuance of up to 1.5 million shares of the Company’s common stock in the form of stock options, SARs, restricted stock, restricted stock units and performance awards.

Restricted Stock

Restricted shares granted to Company employees are amortized to expense over the three-year cliff vesting period. Restricted shares granted to members of the Board of Directors are amortized to expense over a one-year service period, with the exception of those shares granted in lieu of cash payments for retainer fees which are expensed in the period earned.

Changes in restricted shares outstanding for the year ended December 31, 2022 were as follows:


	Shares	Weighted Average Grant Date Fair Value
Balance at December 31, 2021	165,553	$	44.81
Granted	64,151	$	39.30
Vested	(23,316)	$	48.85
Forfeited	(823)	$	43.89
Balance at December 31, 2022	205,565	$	42.64

During 2021 and 2020, 53,906 and 38,226 shares, respectively, were granted with weighted average per share market values at date of grant of $41.55 in 2021 and $47.07 in 2020. The fair value of such shares are based on the market price on the date of grant. Amortization of restricted stock bonus awards totaled $2.4 million for 2022, $1.8 million for 2021 and $1.5 million for 2020. As of December 31, 2022, the total unrecognized compensation expense related to non-vested restricted stock awards was $1.4 million, and the related weighted average period over which it is expected to be recognized is approximately 0.60 years. The total fair value of shares vested during the years ended December 2022, 2021, and 2020 was $1.1 million, $1.2 million, and $1.0 million, respectively.

Performance-Based Restricted Stock

The Company has granted three-year PBRS awards which are contingent upon the Company’s achievement of pre-established financial goals over a three-year cliff vest period. The number of shares issued ranges from 0% to 150% of the target opportunity based on the actual achievement of financial goals for the three-year performance period.

Following is a summary of the activity of the PBRS, based on 100% of target value, for the year ended December 31, 2022:


	Shares	Weighted Average Grant Date Fair Value
Balance at December 31, 2021	116,543	$	46.79
Granted	57,542	39.58
Vested	(34,066)	49.05
Forfeited	(1,234)	43.89
Balance at December 31, 2022	138,785	$	43.19

The PBRS that vested during the year ended December 31, 2022 achieved weighted average financial goals of 52.9% of target, resulting in the issuance of 18,021 shares of common stock. The PBRS that vested during the year ended December 31, 2021 achieved weighted average financial goals of 94.4% of target, resulting in the issuance of 31,150 shares of common stock. The outstanding PBRS at December 31, 2022 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

During 2022, there were no SARs granted and no expense recognized. As of December 31, 2022, there was no unrecognized compensation expense related to SARs.

Changes in SARs outstanding for the year ended December 31, 2022 were as follows:


	SARs	Weighted Average Exercise Price
Balance at December 31, 2021	117,089	$	34.91
Exercised	(70,764)	30.52

Balance at December 31, 2022	46,325	41.62
Exercisable at December 31, 2022	46,325	$	41.62

The total intrinsic value of SARs exercised during 2022 and 2021 was $2.2 million and $630,000, respectively. The average remaining contractual term for SARs outstanding as of December 31, 2022 was 0.73 years, and the aggregate intrinsic value was $192,000. The average remaining contractual term for SARs outstanding as of December 31, 2021 was 1.21 years, and the aggregate intrinsic value was $741,000.

The total compensation cost for share-based payment arrangements was $6.7 million, $2.9 million, and $2.3 million in 2022, 2021, and 2020, respectively.

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Line of Credit Facilities

The following table shows commitments to extend credit, standby letters of credit and commercial letters:


	December 31,
(In thousands)	2022		2021
Commitments to extend credit	$	237,006	$	208,395
Standby letters of credit	14,494		12,859
Commercial letters of credit	354		771

Employee Benefit Plans - Schedule of Assumptions used to Determine Projected Benefit Obligation of the SERP (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SERP
Defined Benefit Plan Disclosure [Line Items]
Weighted average discount rate	5.15%	2.65%	2.20%

Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

The Company leases certain premises under operating leases. As of December 31, 2022, the Company had lease liabilities of $9.5 million and right-of-use assets of $9.2 million. Lease liabilities and right-of-use assets are reflected in other liabilities and other assets, respectively. Included in occupancy expense on the consolidated statements of income for 2022 was operating lease cost of $1.5 million, short-term lease cost of $203,000, and there was no variable lease cost. The Company paid cash of $1.6 million for operating lease amounts included in the measurement of lease liabilities for the year ended December 31, 2022. No right-of-use assets were obtained in exchange for lease liabilities during the year ended December 31, 2022.

For the year ended December 31, 2022, the weighted average remaining lease term for the operating leases was 8.2 years and the weighted average discount rate used in the measurement of operating lease liabilities was 3.6%. 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. The increase in the Company’s expected future minimum lease payments since December 31, 2021 was a result of renewing the lease on the Company's corporate headquarters for 10 years, effective September 2022.

A maturity analysis of operating lease liabilities and undiscounted cash flows as of December 31, 2022 was as follows:


(In thousands)	December 31, 2022
Lease payments due
Less than 1 year	$	1,348
1-2 years	1,327
2-3 years	1,345
3-4 years	1,351
4-5 years	1,357
Over 5 years	4,219
Total undiscounted cash flows	10,947
Discount on cash flows	1,448
Total lease liability	$	9,499

There were no sale and leaseback transactions, leveraged leases, or lease transactions with related parties during the year ended December 31, 2022. At December 31, 2022, the Company did not have any leases that had not yet commenced.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
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 (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)	13,669,656	13,734,295
Treasury stock (in shares)	1,836,116	1,771,477

Interest-Bearing Deposits - Schedule of Maturities of Time Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Time Deposits, Fiscal Year Maturity [Abstract]
One year	$ 37,925	$ 30,855
Two years	1,773	15,061
Three years	797	1,205
Four years	88	48
Five years	38	15
Total	$ 40,621	$ 47,184
Percent of Total
One year	93.40%	65.40%
Two years	4.40%	31.90%
Three years	2.00%	2.60%
Four years	0.20%	0.10%
Five years	0.10%	0.00%
Total	100.00%	100.00%

Capital Requirements and Regulatory Restrictions - Schedule of Capital Amounts and Ratios (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Cass Information Systems, Inc.
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total capital (to risk-weighted assets), actual, amount	$ 257,313	$ 240,265
Common equity tier I capital (to risk-weighted assets), actual, amount	243,774	228,224
Tier I capital (to risk-weighted assets), actual, amount	243,774	228,224
Tier I capital (to average assets), actual, amount	$ 243,774	$ 228,224
Total capital (to risk-weighted assets), actual, ratio	13.52%	14.86%
Common equity tier I capital (to risk-weighted assets), actual, ratio	12.80%	14.11%
Tier I capital (to risk-weighted assets), actual, ratio	12.80%	14.11%
Tier I capital (to average assets), actual, ratio	9.52%	9.21%
Total capital (to risk-weighted assets), capital requirements, amount	$ 152,306	$ 129,339
Common equity tier I capital (to risk-weighted assets), capital requirements, amount	85,672	72,764
Tier I capital (to risk-weighted assets), capital requirements, amount	114,229	97,019
Tier I capital (to average assets), capital requirements, amount	$ 102,386	$ 99,163
Total capital (to risk-weighted assets), capital requirements, ratio	8.00%	8.00%
Common equity tier I capital (to risk-weighted assets), capital requirements, ratio	4.50%	4.50%
Tier I capital (to risk-weighted assets), capital requirements, ratio	6.00%	6.00%
Tier I capital (to average assets), capital requirements, ratio	4.00%	4.00%
Cass Commercial Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total capital (to risk-weighted assets), actual, amount	$ 186,075	$ 174,614
Common equity tier I capital (to risk-weighted assets), actual, amount	172,848	163,030
Tier I capital (to risk-weighted assets), actual, amount	172,848	163,030
Tier I capital (to average assets), actual, amount	$ 172,848	$ 163,030
Total capital (to risk-weighted assets), actual, ratio	16.00%	17.21%
Common equity tier I capital (to risk-weighted assets), actual, ratio	14.86%	16.07%
Tier I capital (to risk-weighted assets), actual, ratio	14.86%	16.07%
Tier I capital (to average assets), actual, ratio	10.77%	11.05%
Total capital (to risk-weighted assets), capital requirements, amount	$ 93,044	$ 81,163
Common equity tier I capital (to risk-weighted assets), capital requirements, amount	52,337	45,654
Tier I capital (to risk-weighted assets), capital requirements, amount	69,783	60,872
Tier I capital (to average assets), capital requirements, amount	$ 64,196	$ 59,036
Total capital (to risk-weighted assets), capital requirements, ratio	8.00%	8.00%
Common equity tier I capital (to risk-weighted assets), capital requirements, ratio	4.50%	4.50%
Tier I capital (to risk-weighted assets), capital requirements, ratio	6.00%	6.00%
Tier I capital (to average assets), capital requirements, ratio	4.00%	4.00%
Total capital (to risk weighted assets), requirement to be well-capitalized, amount	$ 116,305	$ 101,454
Common equity tier I capital (to risk-weighted assets), requirement to be well-capitalized, amount	75,598	65,945
Tier I capital (to risk-weighted assets), requirement to be well-capitalized, amount	93,044	81,163
Tier I capital (to average assets), requirement to be well-capitalized, amount	$ 80,245	$ 73,795
Total capital (to risk weighted assets), requirement to be well-capitalized, ratio	10.00%	10.00%
Common equity tier I capital (to risk-weighted assets), requirement to be well-capitalized, ratio	6.50%	6.50%
Tier I capital (to risk-weighted assets), requirement to be well-capitalized, ratio	8.00%	8.00%
Tier I capital (to average assets), requirement to be well-capitalized, ratio	5.00%	5.00%

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) are as follows:


	For the Years Ended December 31,
(In thousands)	2022		2021		2020
Current:
Federal	$	7,794	$	5,018	$	5,350
State	1,365		897		671
Deferred:
Federal	(990)		(608)		(636)
State	(173)		(90)		(220)
Total income tax expense	$	7,996	$	5,217	$	5,165

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of expected income tax expense (benefit), computed by applying the effective federal statutory rate of 21% for each year to income before income tax expense is as follows:


	For the Years Ended December 31,
(In thousands)	2022		2021		2020
Expected income tax expense	$	9,035	$	7,103	$	6,385
(Reductions) increases resulting from:
Tax-exempt income	(1,571)		(1,673)		(1,588)
State taxes, net of federal benefit	942		638		356
Share-based compensation adjustment	258		92		70
Federal tax credits	(473)		(357)		(336)
Other, net	(195)		(586)		278
Total income tax expense	$	7,996	$	5,217	$	5,165

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences which give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:


	December 31,
(In thousands)	2022		2021
Deferred tax assets:
Allowance for credit losses	$	3,222	$	2,866
ASC 715 pension funding liability	1,594		1,952
Supplemental executive retirement plan accrual	2,311		2,293
Stock compensation	2,745		1,875
Unrealized loss on investment securities available-for-sale (1)	16,798		—
Research and development expenses	772		—
Lease liability	2,261		1,145
Other	640		633
Total deferred tax assets	$	30,343	$	10,764
Deferred tax liabilities:
Premises and equipment	$	(1,710)	$	(2,235)
Pension	(1,141)		(531)
Intangible assets	(1,744)		(1,493)
Unrealized gain on investment securities available-for-sale	—		(2,185)
Right of use asset	(2,178)		(1,032)
Prepaid expenses	(847)		(479)
Other	(144)		(18)
Total deferred tax liabilities	$	(7,764)	$	(7,973)
Net deferred tax assets	$	22,579	$	2,791

Schedule of Unrecognized Tax Benefits Roll Forward

The reconciliation of the beginning unrecognized tax benefits balance to the ending balance is presented in the following table:


(In thousands)	2022		2021		2020
Balance at January 1	$	1,405	$	1,231	$	1,299
Changes in unrecognized tax benefits as a result of tax positions taken during a prior year	(176)		165		62
Changes in unrecognized tax benefits as a result of tax position taken during the current year	222		239		233
Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations	(199)		(230)		(315)
Decreases in unrecognized tax benefits as a result of settlements with taxing authorities	—		—		(48)
Balance at December 31	$	1,252	$	1,405	$	1,231

Investment Securities - Narrative (Details)	12 Months Ended
Investment Securities - Narrative (Details)	Dec. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($) security	Dec. 31, 2020 USD ($)
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities, number of positions \| security	311	101
Available-for-sale securities, percentage of total securities	91.70%	28.00%
Available-for-sale securities, number of positions, greater than one year \| security	101,000
Available-for-sale, securities in unrealized loss positions, greater than one year, percentage	29.80%
Premium related to purchase of state and political subdivisions	$ 5,800,000	$ 6,400,000
Restricted securities	0
Proceeds from sales of securities available-for-sale	3,838,000	63,774,000	$ 21,943,000
Available-for-sale securities, gross realized gains	15,000	55,000	1,100,000
Available-for-sale securities, gross realized losses	$ 0	$ 4,000	$ 0

Loans - Schedule of the Credit Exposure of the Loan Portfolio (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	$ 1,082,906	$ 960,567
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	561,616	450,336
Real Estate, Commercial, Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	108,166	108,759
Real Estate, Commercial, Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	17,874	24,797
Real Estate, Faith-Based, Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	387,114	355,582
Real Estate, Faith-based, Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	8,094	14,664
PPP
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	0	6,299
Other
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	42	130
Loans Subject To Normal Monitoring
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,069,586	947,973
Loans Subject To Normal Monitoring \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	549,241	440,607
Loans Subject To Normal Monitoring \| Real Estate, Commercial, Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	108,166	108,759
Loans Subject To Normal Monitoring \| Real Estate, Commercial, Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	17,874	24,797
Loans Subject To Normal Monitoring \| Real Estate, Faith-Based, Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	386,169	352,717
Loans Subject To Normal Monitoring \| Real Estate, Faith-based, Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	8,094	14,664
Loans Subject To Normal Monitoring \| PPP
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	0	6,299
Loans Subject To Normal Monitoring \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	42	130
Performing Loans Subject To Special Monitoring
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	12,170	12,594
Performing Loans Subject To Special Monitoring \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	11,225	9,729
Performing Loans Subject To Special Monitoring \| Real Estate, Commercial, Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	0	0
Performing Loans Subject To Special Monitoring \| Real Estate, Commercial, Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	0	0
Performing Loans Subject To Special Monitoring \| Real Estate, Faith-Based, Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	945	2,865
Performing Loans Subject To Special Monitoring \| Real Estate, Faith-based, Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	0	0
Performing Loans Subject To Special Monitoring \| PPP
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	0	0
Performing Loans Subject To Special Monitoring \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	0	0
Nonperforming Loans Subject To Special Monitoring
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,150	0
Nonperforming Loans Subject To Special Monitoring \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,150	0
Nonperforming Loans Subject To Special Monitoring \| Real Estate, Commercial, Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	0	0
Nonperforming Loans Subject To Special Monitoring \| Real Estate, Commercial, Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	0	0
Nonperforming Loans Subject To Special Monitoring \| Real Estate, Faith-Based, Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	0	0
Nonperforming Loans Subject To Special Monitoring \| Real Estate, Faith-based, Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	0	0
Nonperforming Loans Subject To Special Monitoring \| PPP
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	0	0
Nonperforming Loans Subject To Special Monitoring \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	$ 0	$ 0