Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

The following is a summary of income tax expense for the years ended December 31, 2023, 2022, and 2021:

	December 31, 2023		December 31, 2022		December 31, 2021
Current – federal	$	11,446	$	15,494	$	13,494
Current – state	1,252		1,346		1,268
Deferred – federal	1,110		(1,618)		(1,025)
Deferred – state	1		(196)		(666)
Income tax expense	$	13,809	$	15,026	$	13,071

Schedule of Reconciliation of Income Tax Attributable to Pre-Tax Income at Federal Statutory Tax Rates to Income Tax Expense

The reconciliation of income tax attributable to pre-tax income at the federal statutory tax rates to income tax expense is as follows:

	December 31, 2023		%		December 31, 2022		%		December 31, 2021		%
Tax at statutory rate	$	15,084	21.0	%	$	16,425	21.0	%	$	14,863	21.0	%
Tax exempt income, net	(1,090)		(1.5)		(1,036)		(1.3)		(1,016)		(1.4)
Bank owned life insurance	(619)		(0.9)		(721)		(0.9)		(554)		(0.8)
Tax credits, net of amortization	(173)		(0.3)		(193)		(0.3)		(215)		(0.3)
Effect of state tax	990		1.4		908		1.2		476		0.7
Other	(383)		(0.5)		(357)		(0.5)		(483)		(0.7)
Income tax expense	$	13,809	19.2	%	$	15,026	19.2	%	$	13,071	18.5	%

Schedule of Components of Net Deferred Tax Asset

The following table sets forth deferred taxes as of December 31, 2023 and 2022:

	December 31, 2023		December 31, 2022
Deferred tax assets:
Allowance for credit losses	$	10,515	$	9,154
Fair value adjustments – business combination	771		917
Deferred compensation	3,693		3,448
Net operating loss carryover	516		344
Post-retirement benefits	605		647
Unrealized loss on equity securities	129		—
Nonaccrual loan interest	476		348
Accrued expenses	579		2,300
Deferred fees and costs	557		997
Unrealized loss on securities available-for-sale	11,308		12,914
Unrealized loss on securities held-to-maturity	1,108		1,265
Operating lease liability	8,509		7,645
Other	453		671
	39,219		40,650
Deferred tax liabilities:
Premises and equipment	3,761		3,409
Unrealized gain on equity securities	—		119
Intangibles – section 197	2,487		2,492
Mortgage servicing rights	345		399
Unrealized gain on interest rate swap	—		32
Operating lease asset	8,128		7,397
Other	571		68
	15,292		13,916
Net deferred tax asset	$	23,927	$	26,734