Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

	2023		2022		2021
Current Federal	$	13,067	$	13,049	$	13,437
Current State	1,934		1,763		2,547
Deferred Federal	2,602		1,868		2,056
Deferred State	156		671		608
Total	$	17,759	$	17,351	$	18,648

Schedule of Effective Income Tax Rate Reconciliation

Effective tax rates differ from the federal statutory rate of 21% for 2023, 2022 and 2021 applied to income before income taxes due to the following:

	2023		2022		2021
Statutory Rate Times Pre-tax Income	$	21,766	$	20,827	$	21,585
Add (Subtract) the Tax Effect of:
Income from Tax-exempt Loans and Investments	(4,951)		(5,223)		(3,872)
Non-deductible Merger Costs	—		177		—
State Income Tax, Net of Federal Tax Effect	1,651		1,923		2,492
General Business Tax Credits	(1,128)		(1,038)		(1,013)
Amortization of Tax Credit Investments	1,101		1,040		1,001
Company Owned Life Insurance	(363)		(476)		(321)
Other Differences	(317)		121		(1,224)
Total Income Taxes	$	17,759	$	17,351	$	18,648

Schedule of Net Deferred Tax Liability

The net deferred tax asset/(liability) at December 31 consists of the following:

	2023		2022
Deferred Tax Assets:
Allowance for Credit Losses	$	10,888	$	10,478
Lease Liability (Operating Leases)	1,313		1,585
Unrealized Loss on Securities	57,882		70,234
Deferred Compensation and Employee Benefits	1,026		1,162
Other-than-temporary Impairment	245		246
Accrued Expenses	1,224		1,325
Business Combination Fair Value Adjustments	—		205
Pension and Postretirement Plans	182		182
Other Real Estate Owned	41		70
Non-Accrual Loan Interest Income	449		629
General Business Tax Credits	—		198
Net Operating Loss Carryforward	650		828
Other	879		1,190
Total Deferred Tax Assets	74,779		88,332
Deferred Tax Liabilities:
Depreciation	(3,416)		(2,859)
Leasing Activities, Net	(12,926)		(10,983)
FHLB Stock Dividends	(455)		(488)
Prepaid Expenses	(154)		(684)
Intangibles	(2,376)		(3,181)
Deferred Loan Fees	(954)		(1,127)
Mortgage Servicing Rights	(51)		(58)
Right of Use Asset (Operating Leases)	(1,274)		(1,548)
Business Combination Fair Value Adjustments	(478)		—
Other	(1,325)		(924)
Total Deferred Tax Liabilities	(23,409)		(21,852)
Valuation Allowance	—		—
Net Deferred Tax Asset/(Liability)	$	51,370	$	66,480