Basis of Accounting and Consolidation (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Premises and Equipment

The estimated useful lives for each major depreciable classification of premises and equipment are as follows:

Buildings and improvements	20 years to 40 years
Leasehold improvements	5 years to 15 years
Furniture and equipment	3 years to 7 years

Premises and equipment at December 31, 2022 and 2021 consisted of (in thousands):

	2022		2021
Land	$	27,982	$	22,682
Buildings and improvements		68,345		67,225
Furniture and equipment		25,498		25,747
Leasehold improvements		4,676		4,736
Construction in progress		1,538		394
Subtotal		128,039		120,784
Accumulated depreciation and amortization		37,566		39,300
Total	$	90,473	$	81,484

Schedule of Impact of ASU 2016-13 Adoption

The following table illustrates the impact of ASU 2016-13 adoption (in thousands):

	January 1, 2020
	As reported		Pre-ASU		Impact of ASU
	under ASU		2016-13		2016-13
	2016-13		Adoption		Adoption
Assets:
Construction and Land Development	$	1,033	$	1,146	$	(113	)
Farm		1,323		1,093		230
1-4 Family Residential Properties		2,142		1,386		756
Commercial Real Estate		11,739		11,198		541
Agricultural		1,023		1,386		(363	)
Commercial and Industrial		9,428		9,273		155
Consumer		1,895		1,429		466
Allowance for credit losses for all loans	$	28,583	$	26,911	$	1,672
Liabilities:
Allowance for credit losses on off-balance sheet exposures	$	69	—		$	69

The following table illustrates the impact of ASU 2016-13 adoption for PCD assets previously classified as PCI included in the table above (in thousands):

	January 1, 2020
	As reported		Pre-ASU		Impact of ASU
	under ASU		2016-13		2016-13
	2016-13		Adoption		Adoption
Construction and Land Development	$	291	$	—	$	291
1-4 Family Residential Properties		48		6		42
Commercial Real Estate		818		359		459
Commercial and Industrial		41		—		41
Allowance for credit losses for all loans	$	1,198	$	365	$	833

Schedule of Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss included in stockholders’ equity as of December 31, 2022 and 2021 are as follows (in thousands):

	Unrealized Gain
	(Loss) on
	Securities
December 31, 2022
Net unrealized losses on securities available-for-sale	$	(213,387	)
Tax benefit		61,880
Balance at December 31, 2022	$	(151,507	)
December 31, 2021
Net unrealized losses on securities available-for-sale	$	(1,170	)
Tax benefit		339
Balance at December 31, 2021	$	(831	)

Schedule of Amounts Reclassified from Accumulated Other Comprehensive Loss

Amounts reclassified from accumulated other comprehensive loss and the affected line items in the statements of income during the years ended December 31, 2022, 2021, and 2020, were as follows (in thousands):

	Amounts Reclassified from Other Comprehensive Income									Affected Line Item in the
	2022			2021			2020			Statements of Income
Realized gains on available-for-sale securities	$	33		$	124		$	1,106		Securities gains, net (total reclassified amount before tax)
		(10	)		(36	)		(321	)	Tax expense
Total reclassifications out of accumulated other comprehensive income	$	23		$	88		$	785		Net reclassified amount