XML 61 R46.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Income Tax (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Reconciliation of Income Taxes |
| December 31 2023 |  | December 31 2022 |  | December 31 2021
Income tax expense |  |  |  |  |
Currently payable |  |  |  |  |
Federal | $ | 14,980 |  |  | $ | 9,111 |  |  | $ | 11,742 |
State | (640) |  |  | 888 |  |  | 1,303 |
Deferred |  |  |  |  |
Federal | (8,594) |  |  | 2,208 |  |  | 2,056 |
State | 71 |  |  | (31) |  |  | 255 |
Revaluation of deferred tax assets | 5,201 |  |  | — |  |  | — |
Total income tax expense | $ | 11,018 |  |  | $ | 12,176 |  |  | $ | 15,356 |
Reconciliation of federal statutory to actual tax expense |  |  |  |  |
Federal statutory income tax at 21% | $ | 8,190 |  |  | $ | 22,173 |  |  | $ | 21,514 |
Tax exempt interest | (6,777) |  |  | (6,623) |  |  | (5,362) |
Tax exempt BOLI income | (779) |  |  | (746) |  |  | (604) |
Stock compensation | (88) |  |  | (232) |  |  | (250) |
Revaluation of deferred tax assets | 5,201 |  |  | — |  |  | — |
Other tax exempt income | (371) |  |  | (454) |  |  | (404) |
State tax | 142 |  |  | 676 |  |  | 1,231 |
Tax credit investments | (2,976) |  |  | (2,774) |  |  | (981) |
BOLI redemption ordinary income | 5,316 |  |  | — |  |  | — |
BOLI redemption excise | 2,532 |  |  | — |  |  | — |
Nondeductible and other | 628 |  |  | 156 |  |  | 212 |
Actual tax expense | $ | 11,018 |  |  | $ | 12,176 |  |  | $ | 15,356 |
Schedule of Reconciliation of Deferred Tax Assets & Liabilities |
| December 31 2023 |  | December 31 2022
Assets |  |  |
Allowance for credit losses | $ | 12,546 |  |  | $ | 12,762 |
Net operating loss and tax credits | 9,592 |  |  | 9,313 |
Director and employee benefits | 2,471 |  |  | 2,019 |
Unrealized loss on AFS securities and cash flow hedge | 17,706 |  |  | 28,230 |
Basis in partnership equity investments | 1,322 |  |  | — |
Capital loss carryover | 5,201 |  |  | — |
Other | 2,856 |  |  | 555 |
Total assets | 51,694 |  |  | 52,879 |
Liabilities |  |  |
Depreciation | (4,512) |  |  | (4,599) |
State tax | (253) |  |  | (262) |
Federal Home Loan Bank stock dividends | (365) |  |  | (368) |
Difference in basis of intangible assets | (4,545) |  |  | (4,440) |
Fair value adjustment on acquisitions | (2,142) |  |  | (2,807) |
Other | (1,131) |  |  | (68) |
Total liabilities | (12,948) |  |  | (12,544) |
Valuation allowance | (5,201) |  |  | — |
Net deferred tax asset/(liability) | $ | 33,545 |  |  | $ | 40,335 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration