INCOME TAXES (Tables) |
12 Months Ended |
|---|---|
Dec. 31, 2023 | |
| Income Tax [Abstract] | |
| Schedule of Provision for Income Taxes |
(Dollars in Thousands)
2023
2022
2021
Current:
Federal
$
11,630
$
10,646
$
12,039
State
1,893
1,022
1,044
13,523
11,668
13,083
Deferred:
Federal
(391)
(2,994)
(3,246)
State
(351)
(899)
(10)
Change in Valuation
259
23
8
(483)
(3,870)
(3,248)
Total:
Federal
11,239
7,652
8,793
State
1,542
123
1,034
Change in Valuation
259
23
8
Total
$
13,040
$
7,798
$
9,835
|
| Schedule of Effective Income Tax Rate Reconciliation |
(Dollars in Thousands)
2023
2022
2021
Tax Expense at Federal
$
13,411
$
8,625
$
10,385
Increases (Decreases) Resulting From:
Tax-Exempt Interest
(259)
(248)
(271)
State Taxes, Net of Federal
1,218
94
819
Other
(1,695)
(546)
375
Change in Valuation
259
23
8
Tax-Exempt Cash Surrender
(187)
(175)
(173)
Noncontrolling Interest
293
25
(1,308)
Actual Tax Expense
$
13,040
$
7,798
$
9,835
|
| Schedule of Deferred Income Tax Liabilities and Assets |
(Dollars in Thousands)
2023
2022
Deferred Tax Assets Attributable
Allowance for Credit Losses
$
7,236
$
6,042
Accrued Pension/SERP
144
1,530
State Net Operating Loss and Tax
2,069
1,920
Other Real Estate Owned
887
917
Accrued SERP Liability
2,594
3,246
Lease Liability
5,911
4,547
Net Unrealized Losses on Investment Securities
8,601
12,499
Other
2,665
3,043
Investment in Partnership
3,241
1,544
Total Deferred
$
33,348
$
35,288
Deferred Tax Liabilities
Depreciation on Premises and Equipment
$
3,733
$
3,382
Deferred Loan Fees and Costs
2,614
2,372
Intangible Assets
3,344
3,310
Accrued Pension Liability
1,688
1,043
Right of Use Asset
5,829
4,474
Investments
469
469
Other
1,851
2,099
Total Deferred
19,528
17,149
Valuation
1,930
1,671
Net Deferred Tax
$
11,890
$
16,468
|
| Schedule of Beginning and Ending Unrecognized Tax Benefit |
(Dollars in Thousands)
2023
2022
2021
Balance at January 1,
$
136
$
52
$
-
Additions Based on Tax
97
84
52
Balance at December 31
$
233
$
136
$
52
|
| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Tabular disclosure of the change in unrecognized tax benefits. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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