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Parent Company Financial Statements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Schedule of Condensed Balance Sheets | CONDENSED BALANCE SHEETS
|  | December 31,
|  | 2023 |  | 2022
ASSETS |  |  |  |
Cash |  | $ | 66,835 |  |  | $ | 46,541 |
Securities Available-for-Sale |  | 4,112 |  |  | — |
Other Investments |  | 353 |  |  | 353 |
Investment in Subsidiary Bank |  | 652,452 |  |  | 566,494 |
Investment in Non-banking Subsidiaries |  | 1,975 |  |  | 6,747 |
Other Assets |  | 15,097 |  |  | 19,165 |
Total Assets |  | $ | 740,824 |  |  | $ | 639,300 |
LIABILITIES |  |  |  |
Borrowings |  | $ | 75,327 |  |  | $ | 74,788 |
Other Liabilities |  | 1,939 |  |  | 6,119 |
Total Liabilities |  | 77,266 |  |  | 80,907 |
SHAREHOLDERS’ EQUITY |  |  |  |
Common Stock |  | 29,585 |  |  | 29,493 |
Additional Paid-in Capital |  | 389,411 |  |  | 387,171 |
Retained Earnings |  | 461,622 |  |  | 405,167 |
Accumulated Other Comprehensive Income (Loss) |  | (217,060) |  |  | (263,438) |
Total Shareholders’ Equity |  | 663,558 |  |  | 558,393 |
Total Liabilities and Shareholders’ Equity |  | $ | 740,824 |  |  | $ | 639,300 |
Schedule of Condensed Statements of Income and Comprehensive Income (Loss) | CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS)
|  | Years Ended December 31,
|  | 2023 |  | 2022 |  | 2021
INCOME |  |  |  |  |  |
Dividends from Subsidiaries |  |  |  |  |  |
Bank |  | $ | 50,000 |  |  | $ | 35,000 |  |  | $ | 65,000 |
Non-bank |  | — |  |  | — |  |  | 1,470 |
Interest Income |  | 277 |  |  | 104 |  |  | 109 |
Other Income (Loss) |  | (28) |  |  | 31 |  |  | 11 |
Total Income |  | 50,249 |  |  | 35,135 |  |  | 66,590 |
EXPENSES |  |  |  |  |  |
Salaries and Employee Benefits |  | 535 |  |  | 535 |  |  | 537 |
Professional Fees |  | 777 |  |  | 1,989 |  |  | 1,256 |
Occupancy and Equipment Expense |  | 8 |  |  | 8 |  |  | 10 |
Interest Expense |  | 5,360 |  |  | 3,963 |  |  | 2,763 |
Other Expenses |  | 1,183 |  |  | 1,162 |  |  | 1,200 |
Total Expenses |  | 7,863 |  |  | 7,657 |  |  | 5,766 |
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES |  | 42,386 |  |  | 27,478 |  |  | 60,824 |
Income Tax Benefit |  | 2,215 |  |  | 1,947 |  |  | 1,607 |
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES |  | 44,601 |  |  | 29,425 |  |  | 62,431 |
Equity in Undistributed Income of Subsidiaries |  | 41,287 |  |  | 52,400 |  |  | 21,706 |
NET INCOME |  | 85,888 |  |  | 81,825 |  |  | 84,137 |
Other Comprehensive Income (Loss): |  |  |  |  |  |
Changes in Unrealized Gain (Loss) on Securities, Available-for-Sale |  | 46,378 |  |  | (278,976) |  |  | (19,891) |
Changes in Unrecognized Loss in Postretirement Benefit Obligation, Net |  | — |  |  | 54 |  |  | — |
TOTAL COMPREHENSIVE INCOME (LOSS) |  | $ | 132,266 |  |  | $ | (197,097) |  |  | $ | 64,246 |
Schedule of Condensed Statements of Cash Flows | CONDENSED STATEMENTS OF CASH FLOWS
|  | Years Ended December 31,
|  | 2023 |  | 2022 |  | 2021
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |
Net Income |  | $ | 85,888 |  |  | $ | 81,825 |  |  | $ | 84,137 |
Adjustments to Reconcile Net Income to Net Cash from Operations |  |  |  |  |  |
Change in Other Assets |  | 3,929 |  |  | 3,861 |  |  | (3,939) |
Change in Other Liabilities |  | (3,113) |  |  | 1,200 |  |  | 863 |
Equity Based Compensation |  | 2,332 |  |  | 2,330 |  |  | 1,723 |
Equity in Excess Undistributed Income of Subsidiaries |  | (41,287) |  |  | (52,400) |  |  | (21,706) |
Net Cash from Operating Activities |  | 47,749 |  |  | 36,816 |  |  | 61,078 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |
Cash Used for Business Acquisitions |  | — |  |  | (49,644) |  |  | — |
Net Equity in Dissolution of Subsidiary |  | 1,978 |  |  | — |  |  | — |
Net Cash from Investing Activities |  | 1,978 |  |  | (49,644) |  |  | — |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |
Dividends Paid |  | (29,433) |  |  | (27,022) |  |  | (22,220) |
Net Cash from Financing Activities |  | (29,433) |  |  | (27,022) |  |  | (22,220) |
Net Change in Cash and Cash Equivalents |  | 20,294 |  |  | (39,850) |  |  | 38,858 |
Cash and Cash Equivalents at Beginning of Year |  | 46,541 |  |  | 86,391 |  |  | 47,533 |
Cash and Cash Equivalents at End of Year |  | $ | 66,835 |  |  | $ | 46,541 |  |  | $ | 86,391 |

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