Condensed Financial Information (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2023


	December 31 2023		December 31 2022
Assets
Total cash and cash equivalents	$	79,749	$	54,097
Investment in subsidiaries	765,299		748,983
Other assets	7,008		10,519
Total assets	$	852,056	$	813,599
Liabilities
Subordinated notes	$	55,543	$	58,896
Junior subordinated debentures issued to capital trusts	57,258		57,027
Other liabilities	20,443		20,301
Stockholders’ Equity	718,812		677,375
Total liabilities and stockholders’ equity	$	852,056	$	813,599


	Years Ended December 31
	2023		2022		2021
Operating Income (Expense)
Dividend income from subsidiaries	$	55,500	$	34,750	$	22,500
Interest expense	(8,226)		(6,258)		(5,767)
Other income	431		45		25
Salaries and employee benefits	(3,502)		(2,551)		(1,890)
Other expense	(370)		(411)		(591)
Income Before Undistributed Income (Dividends in Excess) of Subsidiaries	43,833		25,575		14,277
Undistributed income (dividends in excess) of subsidiaries	(17,838)		66,473		71,439
Income Before Tax	25,995		92,048		85,716
Income tax benefit	1,986		1,360		1,375
Net Income Available to Common Shareholders	$	27,981	$	93,408	$	87,091


	Years Ended December 31
	2023		2022		2021
Net Income	$	27,981	$	93,408	$	87,091
Other Comprehensive Income (Loss)
Change in fair value of derivative instruments:
Change in fair value of derivative instruments for the period	(523)		5,649		4,570
Reclassification adjustment for swap termination gain realized in income	(1,453)		—		—
Income tax effect	415		(1,186)		(960)
Changes from derivative instruments	(1,561)		4,463		3,610
Change in securities:
Unrealized gain (loss) for the period on available for sale securities	20,728		(147,345)		(35,547)
Reclassification of gain (loss) from available for sale securities to held to maturity securities	—		(794)		5,869
Amortization (accretion) from transfer of securities from available for sale to held to maturity securities	(691)		(1,236)		66
Reclassification adjustment for securities (gains) losses realized in income	32,052		—		(914)
Income tax effect	(10,939)		31,369		6,409
Unrealized gains (losses) on securities	41,150		(118,006)		(24,117)
Other Comprehensive Income (Loss), Net of Tax	39,589		(113,543)		(20,507)
Comprehensive Income (Loss)	$	67,570	$	(20,135)	$	66,584


	Years Ended December 31
	2023		2022		2021
Operating Activities
Net income	$	27,981	$	93,408	$	87,091
Items not requiring (providing) cash
Dividends in excess (equity in undistributed net income) of subsidiaries	17,838		(66,473)		(71,439)
Change in:
Share based compensation	3,586		2,475		1,819

Other assets	7,184		(284)		730
Other liabilities	(413)		120		946
Net cash provided by operating activities	56,176		29,246		19,147
Investing Activities


Capital contribution to subsidiary	—		—		(60,000)

Other investing activities	1,762		—		—
Net cash used in investing activities	1,762		—		(60,000)
Financing Activities
Other change in borrowings	378		388		384
Repurchase of outstanding stock	—		—		(7,607)
Dividends paid on common shares	(28,311)		(27,765)		(24,768)

Net settlement of share awards	(1,221)		(1,824)		(1,355)
Stock option exercises	—		145		1,062

Repayment of subordinated notes	(3,132)		—		—
Net cash used in financing activities	(32,286)		(29,056)		(32,284)
Net Change in Cash and Cash Equivalents	25,652		190		(73,137)
Cash and Cash Equivalents at Beginning of Year	54,097		53,907		127,044
Cash and Cash Equivalents at End of Year	$	79,749	$	54,097	$	53,907