Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:

	2025		2024		2023
Current Federal	$	17,453	$	17,521	$	13,067
Current State	1,723		3,306		1,934
Deferred Federal	7,126		(766)		2,602
Deferred State	1,133		227		156
Total Income Tax Expense from Continuing Operations	$	27,435	$	20,288	$	17,759

Schedule of Effective Income Tax Rate Reconciliation

Effective tax rates differ from the federal statutory rate of 21% for 2025, 2024 and 2023 applied to income before income taxes due to the following:

	2025				2024				2023
	Amount		Percent		Amount		Percent		Amount		Percent
Federal Statutory Income Tax	$	29,415	21.00	%	$	21,861	21.00	%	$	21,766	21.00	%
Effect of:
State and Local Income Tax, Net of Federal Tax Effect*	2,256		1.61		2,782		2.67		1,651		1.59
Tax Credits:
General Business Tax Credits, Net of Amortization	(40)		(0.03)		(54)		(0.05)		(27)		(0.03)
Nontaxable or Nondeductible Items:
Income from Tax-exempt Loans and Investments, Net of Interest Expense Disallowance	(3,842)		(2.74)		(4,008)		(3.85)		(4,951)		(4.78)
Other Differences	(354)		(0.25)		(293)		(0.28)		(680)		(0.65)
Total Income Taxes	$	27,435	19.59	%	$	20,288	19.49	%	$	17,759	17.13	%

*State taxes in Indiana and Kentucky made up the majority (greater than 50 percent) of the tax effect in this category.

The Company does not have income from foreign sources and therefore does not have any foreign income tax.

Schedule of Income Taxes Paid

Income taxes paid were as follows, net of refunds:

	2025		2024
Federal	$	16,550	$	14,823
State and Local
Indiana	1,900		1,430
Kentucky	375		1,450
All Other States	100		120
Total Taxes Paid	$	18,925	$	17,823

Schedule of Net Deferred Tax Liability

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

	2025		2024
Deferred Tax Assets:
Allowance for Credit Losses	$	18,805	$	11,088
Lease Liability (Operating Leases)	1,372		1,121
Unrealized Loss on Securities	43,915		58,803
Deferred Compensation and Employee Benefits	1,055		933
Other-than-temporary Impairment	239		246
Accrued Expenses	1,504		1,248
Business Combination Fair Value Adjustments	11,391		—
Pension and Postretirement Plans	182		182
Other Real Estate Owned	40		41
Non-Accrual Loan Interest Income	472		355
Net Operating Loss Carryforward	3,101		488
Other	1,679		1,046
Total Deferred Tax Assets	83,755		75,551
Deferred Tax Liabilities:
Depreciation	(5,516)		(3,095)
Leasing Activities, Net	(15,208)		(13,039)
FHLB Stock Dividends	(442)		(432)
Prepaid Expenses	(358)		(136)
Intangibles	(9,660)		(2,061)
Deferred Loan Fees	(1,058)		(996)
Mortgage Servicing Rights	(1,088)		(44)
Right of Use Asset (Operating Leases)	(1,321)		(1,080)
Business Combination Fair Value Adjustments	—		(640)
Other	(976)		(1,198)
Total Deferred Tax Liabilities	(35,627)		(22,721)
Valuation Allowance	—		—
Net Deferred Tax Asset/(Liability)	$	48,128	$	52,830