INCOME TAXES (Tables) |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Income Taxes [Abstract] | |
| Schedule of Provision for Income Taxes |
(Dollars in Thousands)
2024
2023
2022
Current:
Federal
$
13,388
$
11,630
$
10,646
State
1,568
1,893
1,022
14,956
13,523
11,668
Deferred:
Federal
(877)
(391)
(2,994)
State
(116)
(351)
(899)
Change in Valuation
(39)
259
23
(1,032)
(483)
(3,870)
Total:
Federal
12,511
11,239
7,652
State
1,452
1,542
123
Change in Valuation
(39)
259
23
Total
$
13,924
$
13,040
$
7,798
|
| Schedule of Effective Income Tax Rate Reconciliation |
(Dollars in Thousands)
2024
2023
2022
Tax Expense at Federal
$
13,769
$
13,411
$
8,625
Increases (Decreases) Resulting From:
Tax-Exempt Interest
(161)
(259)
(248)
Other
(929)
(1,695)
(546)
State Taxes, Net of Federal
1,145
1,218
94
Change in Valuation
(39)
259
23
Tax-Exempt Cash Surrender
(201)
(187)
(175)
Noncontrolling Interest
340
293
25
Actual Tax Expense
$
13,924
$
13,040
$
7,798
|
| Schedule of Deferred Income Tax Liabilities and Assets |
(Dollars in Thousands)
2024
2023
Deferred Tax Assets Attributable
Allowance for Credit Losses
$
7,168
$
7,236
Accrued Pension/SERP
-
144
State Net Operating Loss and Tax
1,976
2,069
Other Real Estate Owned
964
887
Accrued SERP Liability
2,548
2,594
Lease Liability
5,639
5,911
Net Unrealized Losses on Investment Securities
6,779
8,601
Other
2,808
2,665
Investment in Partnership
4,404
3,241
Total Deferred
$
32,286
$
33,348
Deferred Tax Liabilities
Depreciation on Premises and Equipment
$
3,538
$
3,733
Deferred Loan Fees and Costs
3,543
2,614
Intangible Assets
3,378
3,344
Accrued Pension/SERP
3,302
-
Accrued Pension Liability
1,217
1,688
Right of Use Asset
5,510
5,829
Investments
469
469
Other
1,784
1,851
Total Deferred
22,741
19,528
Valuation
1,891
1,930
Net Deferred Tax Asset
$
7,654
$
11,890
|
| Schedule of Beginning and Ending Unrecognized Tax Benefit |
(Dollars in Thousands)
2024
2023
2022
Balance at January 1,
$
233
$
136
$
52
Additions Based on Tax
83
97
84
Balance at December 31
$
316
$
233
$
136
|