XML 47 R33.htm IDEA: XBRL DOCUMENT v3.24.0.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Components of Other Comprehensive Income (Loss) and Related Tax Effects

The components of other comprehensive income (loss) and related tax effects are as follows:

 

 

 

(In Thousands)

 

 

 

2023

 

 

2022

 

 

2021

 

Net unrealized gain (loss) on available-for-sale
   securities

 

$

10,781

 

 

$

(44,366

)

 

$

(10,948

)

Reclassification adjustment for (gain) loss on sale of
   available-for-sale securities

 

 

891

 

 

 

-

 

 

 

(293

)

Net unrealized gain (loss) on available-for-sale
   securities

 

 

11,672

 

 

 

(44,366

)

 

 

(11,241

)

Tax expense (benefit)

 

 

2,451

 

 

 

(9,317

)

 

 

(2,360

)

Other comprehensive income (loss)

 

$

9,221

 

 

$

(35,049

)

 

$

(8,881

)

Schedule of Impact of Adopting ASU

The following table illustrates the impact of adopting the ASU:

 

 

 

January 1, 2023

 

 

 

(In Thousands)

 

 

 

As Reported

 

 

 

 

 

Impact of

 

 

 

Under

 

 

Pre-ASU 2016-13

 

 

ASU 2016-13

 

 

 

ASU 2016-13

 

 

Adoption

 

 

Adoption

 

Consumer Real Estate

 

$

3,872

 

 

$

998

 

 

$

2,874

 

Agricultural Real Estate

 

 

183

 

 

 

349

 

 

 

(166

)

Agricultural

 

 

101

 

 

 

751

 

 

 

(650

)

Commercial Real Estate

 

 

15,425

 

 

 

11,924

 

 

 

3,501

 

Commercial & Industrial

 

 

3,217

 

 

 

5,382

 

 

 

(2,165

)

Consumer

 

 

1,079

 

 

 

909

 

 

 

170

 

Unfunded Loan Commitment & Letters of Credit

 

 

2,166

 

 

 

1,262

 

 

 

904

 

     Current Expected Credit Losses

 

$

26,043

 

 

$

21,575

 

 

$

4,468