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Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

Pay Versus Performance Disclosure

 

The table below shows the following information for the past three fiscal years: (i) “total” compensation for our named executive officers (“NEOs”) for purposes of the “Summary compensation table”; (ii) the “Compensation actually paid” to named executive officers (calculated using rules required by the SEC); (iii) our total shareholder return (“TSR”); (iv) the TSR of the S&P U.S. BMI Banks Index; (v) our net income; and (vi) our return on average tangible common equity. “Compensation actually paid” does not represent the value of cash and shares of the Company’s common stock received by named executive officers during the year, but rather is an amount calculated under SEC rules and includes, among other things, year-over-year changes in the value of unvested equity-based awards. As a result of the calculation methodology required by the SEC, “Compensation actually paid” amounts below differ from compensation actually received by the individuals.

 

Year  “Summary
compensation
table” total for
CEO(1)		  Compensation
actually paid to
CEO(2)		  Average
“Summary
compensation
table” total for
other NEOs(1)		  Average
compensation
actually paid to
other NEOs(2)		  Company
TSR(3)		  Peer group
TSR(3)		  Net income
(in
thousands)		  Return on
average
tangible
common
equity(4)		 
2023  $927,073  $894,021  $517,313  $490,183   146.59   123.02  $27,380   10.30%
2022  $992,140  $1,002,424  $537,708  $529,093   150.38   112.77  $38,090   14.80%
2021  $1,009,089  $1,201,076  $587,389  $622,866   148.19   135.96  $43,519   12.94%

 

(1)The CEO for each year reported was Craig W. Best. The other named executive officers, or NEOs, for each year reported were: Thomas P. Tulaney, Neal D. Koplin, Timothy H. Kirtley and John R. Anderson III.

(2)SEC rules require certain adjustments be made to the “Summary compensation table” totals to determine “compensation actually paid” as reported in the “Pay versus performance table” above. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts are averages for the named executive officers other than the CEO):

 

Year   Executive(s)   “Summary
compensation
table” total		   Deduct
change in
pension
value		     Add
pension
services
costs		   Deduct
stock
awards		     Add year-
end value of
unvested
equity
awards
granted in
year		   Change in
value of
unvested
equity
awards
granted in
prior years		   Change in
value of equity
awards
granted in
prior years
which vested
in year		   Deduct value
of equity
awards
granted in
prior years
that failed to
vest		   Add
dividends		  
2023     CEO   $ 927,073   $ (6,996 )     –   $ (223,175 )   $ 248,711   $ (14,394 ) $ (15,868 ) $ (24,883 ) $ 3,553  
      Other NEOs   $ 517,313   $ (66,964 )   $ 50,329   $ (96,684 )   $ 107,737   $ (6,206 ) $ (6,569 ) $ (10,290 ) $ 1,518  
2022     CEO   $ 992,140     –       –   $ (217,333 )   $ 235,405   $ (4,312 ) $ (6,823 )   –   $ 3,347  
      Other NEOs   $ 537,708   $ (60,394 )   $ 47,076   $ (94,081 )   $ 101,904   $ (1,778 ) $ (2,734 )   –   $ 1,393  
2021     CEO   $ 1,009,089     –       –   $ (217,311 )   $ 269,351   $ 73,039   $ 63,721     –   $ 3,187  
      Other NEOs   $ 587,389   $ (111,305 )   $ 70,743   $ (89,845 )   $ 111,360   $ 29,005   $ 24,260     –   $ 1,258  

 

(3)TSR is determined based on the value of an initial fixed investment of $100 on December 31, 2020. The peer group TSR represents TSR of the S&P U.S. BMI Banks Index.

(4)Return on average tangible common equity (ROATCE), a non-GAAP measure, is equal to net income divided by the difference of average stockholders’ equity minus average intangible assets. Consistent with its usage by our compensation committee, the 2021 return on average tangible common equity shown in the table above excludes an extraordinary gain on the sale of Visa Class B shares.
    
Company Selected Measure Name Return on average tangible common equity    
Named Executive Officers, Footnote
(1)The CEO for each year reported was Craig W. Best. The other named executive officers, or NEOs, for each year reported were: Thomas P. Tulaney, Neal D. Koplin, Timothy H. Kirtley and John R. Anderson III.
    
Peer Group Issuers, Footnote
(3)TSR is determined based on the value of an initial fixed investment of $100 on December 31, 2020. The peer group TSR represents TSR of the S&P U.S. BMI Banks Index.
    
PEO Total Compensation Amount $ 927,073 $ 992,140 $ 1,009,089
PEO Actually Paid Compensation Amount $ 894,021 1,002,424 1,201,076
Adjustment To PEO Compensation, Footnote
(2)SEC rules require certain adjustments be made to the “Summary compensation table” totals to determine “compensation actually paid” as reported in the “Pay versus performance table” above. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts are averages for the named executive officers other than the CEO):
Year   Executive(s)   “Summary
compensation
table” total		   Deduct
change in
pension
value		     Add
pension
services
costs		   Deduct
stock
awards		     Add year-
end value of
unvested
equity
awards
granted in
year		   Change in
value of
unvested
equity
awards
granted in
prior years		   Change in
value of equity
awards
granted in
prior years
which vested
in year		   Deduct value
of equity
awards
granted in
prior years
that failed to
vest		   Add
dividends		  
2023     CEO   $ 927,073   $ (6,996 )     –   $ (223,175 )   $ 248,711   $ (14,394 ) $ (15,868 ) $ (24,883 ) $ 3,553  
      Other NEOs   $ 517,313   $ (66,964 )   $ 50,329   $ (96,684 )   $ 107,737   $ (6,206 ) $ (6,569 ) $ (10,290 ) $ 1,518  
2022     CEO   $ 992,140     –       –   $ (217,333 )   $ 235,405   $ (4,312 ) $ (6,823 )   –   $ 3,347  
      Other NEOs   $ 537,708   $ (60,394 )   $ 47,076   $ (94,081 )   $ 101,904   $ (1,778 ) $ (2,734 )   –   $ 1,393  
2021     CEO   $ 1,009,089     –       –   $ (217,311 )   $ 269,351   $ 73,039   $ 63,721     –   $ 3,187  
      Other NEOs   $ 587,389   $ (111,305 )   $ 70,743   $ (89,845 )   $ 111,360   $ 29,005   $ 24,260     –   $ 1,258  
    
Non-PEO NEO Average Total Compensation Amount $ 517,313 537,708 587,389
Non-PEO NEO Average Compensation Actually Paid Amount $ 490,183 529,093 622,866
Adjustment to Non-PEO NEO Compensation Footnote
(2)SEC rules require certain adjustments be made to the “Summary compensation table” totals to determine “compensation actually paid” as reported in the “Pay versus performance table” above. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts are averages for the named executive officers other than the CEO):
Year   Executive(s)   “Summary
compensation
table” total		   Deduct
change in
pension
value		     Add
pension
services
costs		   Deduct
stock
awards		     Add year-
end value of
unvested
equity
awards
granted in
year		   Change in
value of
unvested
equity
awards
granted in
prior years		   Change in
value of equity
awards
granted in
prior years
which vested
in year		   Deduct value
of equity
awards
granted in
prior years
that failed to
vest		   Add
dividends		  
2023     CEO   $ 927,073   $ (6,996 )     –   $ (223,175 )   $ 248,711   $ (14,394 ) $ (15,868 ) $ (24,883 ) $ 3,553  
      Other NEOs   $ 517,313   $ (66,964 )   $ 50,329   $ (96,684 )   $ 107,737   $ (6,206 ) $ (6,569 ) $ (10,290 ) $ 1,518  
2022     CEO   $ 992,140     –       –   $ (217,333 )   $ 235,405   $ (4,312 ) $ (6,823 )   –   $ 3,347  
      Other NEOs   $ 537,708   $ (60,394 )   $ 47,076   $ (94,081 )   $ 101,904   $ (1,778 ) $ (2,734 )   –   $ 1,393  
2021     CEO   $ 1,009,089     –       –   $ (217,311 )   $ 269,351   $ 73,039   $ 63,721     –   $ 3,187  
      Other NEOs   $ 587,389   $ (111,305 )   $ 70,743   $ (89,845 )   $ 111,360   $ 29,005   $ 24,260     –   $ 1,258  
    
Compensation Actually Paid vs. Total Shareholder Return

 

    
Compensation Actually Paid vs. Net Income

 

    
Compensation Actually Paid vs. Company Selected Measure

 

    
Total Shareholder Return Vs Peer Group    
Tabular List, Table

Company’s Most Important Financial Performance Measures

 

The following were the most important financial performance measures, as determined by the Company, that link compensation actually paid to our CEO and other NEOs to the Company’s performance for the most recently completed fiscal year.

 

Earnings per share (EPS) growth
Revenue growth
Expense to asset ratio
Loan growth
Deposit growth		 Asset growth
Ratio of non-performing assets to average
loans plus other real estate owned
Ratio of net charge-offs to average loans

 

Each of these financial performance measures are used in our incentive programs to determine the level of payout. For more information on each of these performance measures, see “Components of the Compensation Program” beginning on page 25.

    
Total Shareholder Return Amount $ 146.59 150.38 148.19
Peer Group Total Shareholder Return Amount 123.02 112.77 135.96
Net Income (Loss) $ 27,380,000 $ 38,090,000 $ 43,519,000
Company Selected Measure Amount 10.3 14.8 12.94
PEO Name Craig W. Best    
Measure:: 1      
Pay vs Performance Disclosure      
Name Earnings per share (EPS) growth    
Non-GAAP Measure Description
(4)Return on average tangible common equity (ROATCE), a non-GAAP measure, is equal to net income divided by the difference of average stockholders’ equity minus average intangible assets. Consistent with its usage by our compensation committee, the 2021 return on average tangible common equity shown in the table above excludes an extraordinary gain on the sale of Visa Class B shares.
    
Measure:: 2      
Pay vs Performance Disclosure      
Name Revenue growth    
Measure:: 3      
Pay vs Performance Disclosure      
Name Expense to asset ratio    
Measure:: 4      
Pay vs Performance Disclosure      
Name Loan growth    
Measure:: 5      
Pay vs Performance Disclosure      
Name Deposit growth    
Measure:: 6      
Pay vs Performance Disclosure      
Name Asset growth    
Measure:: 7      
Pay vs Performance Disclosure      
Name Ratio of non-performing assets to average loans plus other real estate owned    
Measure:: 8      
Pay vs Performance Disclosure      
Name Ratio of net charge-offs to average loans    
PEO | Deduct Change In Pension Value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (6,996)
PEO | Add Pension Services Costs [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount
PEO | Deduct Stock Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (223,175) (217,333) (217,311)
PEO | Add Year- End Value Of Unvested Equity Awards Granted In Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 248,711 235,405 269,351
PEO | Change In Value Of Unvested Equity Awards Granted In Prior Years [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (14,394) (4,312) 73,039
PEO | Change In Value Of Equity Awards Granted In Prior Years Which Vested In Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (15,868) (6,823) 63,721
PEO | Deduct Value Of Equity Awards Granted In Prior Years That Failed To Vest [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (24,883)
PEO | Add Dividends [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 3,553 3,347 3,187
Non-PEO NEO | Deduct Change In Pension Value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (66,964) (60,394) (111,305)
Non-PEO NEO | Add Pension Services Costs [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 50,329 47,076 70,743
Non-PEO NEO | Deduct Stock Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (96,684) (94,081) (89,845)
Non-PEO NEO | Add Year- End Value Of Unvested Equity Awards Granted In Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 107,737 101,904 111,360
Non-PEO NEO | Change In Value Of Unvested Equity Awards Granted In Prior Years [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (6,206) (1,778) 29,005
Non-PEO NEO | Change In Value Of Equity Awards Granted In Prior Years Which Vested In Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (6,569) (2,734) 24,260
Non-PEO NEO | Deduct Value Of Equity Awards Granted In Prior Years That Failed To Vest [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (10,290)
Non-PEO NEO | Add Dividends [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 1,518 $ 1,393 $ 1,258