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INCOME TAX (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Reconciliation of Federal Statutory to Actual Tax Expense | The reconciliation between income tax expense expected at the U.S. federal statutory tax rate and the reported income tax expense is summarized in the following table for years ended December 31, 2024, 2023 and 2022:
| 2024 |  | 2023 |  | 2022
Reconciliation of Federal Statutory to Actual Tax Expense: |  |  |  |  |
Federal Statutory Income Tax at 21% | $ | 48,663 |  |  | $ | 54,439 |  |  | $ | 53,692 |
Tax-exempt Interest Income | (17,509) |  |  | (18,193) |  |  | (19,349) |
Non-deductible FDIC Premiums | 624 |  |  | 454 |  |  | 427 |
Earnings on Life Insurance | (1,777) |  |  | (1,753) |  |  | (2,344) |
Tax Credits | (2,018) |  |  | (331) |  |  | (414) |
State Tax | 631 |  |  | 1,171 |  |  | 2,494 |
Other | 1,712 |  |  | (341) |  |  | (921) |
Income Tax Expense | $ | 30,326 |  |  | $ | 35,446 |  |  | $ | 33,585 |
Effective Tax Rate | 13.1 | % |  | 13.7 | % |  | 13.1 | %
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense consists of the following components for the years ended December 31, 2024, 2023, 2022:
| 2024 |  | 2023 |  | 2022
Income Tax Expense for the Year Ended December 31: |  |  |  |  |
Currently Payable: |  |  |  |  |
Federal | $ | 27,979 |  |  | $ | 29,351 |  |  | $ | 21,824 |
State | 723 |  |  | (504) |  |  | 2,696 |
Deferred: |  |  |  |  |
Federal | 1,548 |  |  | 4,613 |  |  | 8,604 |
State | 76 |  |  | 1,986 |  |  | 461 |
Income Tax Expense | $ | 30,326 |  |  | $ | 35,446 |  |  | $ | 33,585 |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the net deferred tax assets and liabilities resulting from temporary differences were as follows at December 31, 2024 and 2023:
| 2024 |  | 2023
Deferred Tax Asset at December 31: |  |  |
Assets: |  |  |
Differences in Accounting for Credit Losses | $ | 51,186 |  |  | $ | 54,734 |
Differences in Accounting for Loan Fees | 2,193 |  |  | 2,398 |
Deferred Compensation | 3,950 |  |  | 4,021 |
Federal & State Income Tax Loss Carryforward and Credits | 1,166 |  |  | 600 |
Net Unrealized Loss on Securities Available for Sale | 50,084 |  |  | 46,161 |
Other | 5,771 |  |  | 6,716 |
Total Assets | 114,350 |  |  | 114,630 |
Liabilities: |  |  |
Differences in Depreciation Methods | 8,801 |  |  | 7,439 |
Differences in Accounting for Loans and Securities | 920 |  |  | 1,284 |
Differences in Accounting for Mortgage Servicing Rights | 2,280 |  |  | 1,987 |
Difference in Accounting for Pensions and Other Employee Benefits | 8,156 |  |  | 6,072 |
State Income Tax | 1,416 |  |  | 1,428 |
REIT Dividend Deferral | 677 |  |  | 2,979 |
Other | 6,208 |  |  | 8,692 |
Total Liabilities | 28,458 |  |  | 29,881 |
Net Deferred Tax Asset | $ | 85,892 |  |  | $ | 84,749 |

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