Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:	2021		2020		2019
Current Federal	$	13,437	$	14,186	$	8,263
Current State	2,547		2,265		1,004
Deferred Federal	2,056		(2,765)		3,545
Deferred State	608		(852)		(795)
Total	$	18,648	$	12,834	$	12,017

Schedule of Effective Income Tax Rate Reconciliation

Effective tax rates differ from the federal statutory rate of 21% for 2021, 2020 and 2019 applied to income before income taxes due to the following:

	2021		2020		2019
Statutory Rate Times Pre-tax Income	$	21,585	$	15,759	$	14,960
Add (Subtract) the Tax Effect of:
Income from Tax-exempt Loans and Investments	(3,872)		(2,681)		(2,246)
State Income Tax, Net of Federal Tax Effect	2,492		1,116		165
General Business Tax Credits	(1,013)		(1,085)		(1,039)
Company Owned Life Insurance	(321)		(484)		(421)
Other Differences	(223)		209		598
Total Income Taxes	$	18,648	$	12,834	$	12,017

Schedule of Net Deferred Tax Liability

The net deferred tax liability at December 31 consists of the following:

	2021		2020
Deferred Tax Assets:
Allowance for Credit Losses	$	8,470	$	10,568
Lease Liability (Operating Leases)	1,542		2,055
Deferred Compensation and Employee Benefits	878		823
Other-than-temporary Impairment	246		246
Accrued Expenses	1,288		1,200
Business Combination Fair Value Adjustments	138		777
Pension and Postretirement Plans	200		200
Other Real Estate Owned	—		25
Non-Accrual Loan Interest Income	567		678
Net Operating Loss Carryforward	447		1,010
Mortgage Servicing Rights	49		—
Other	1,860		1,000
Total Deferred Tax Assets	15,685		18,582
Deferred Tax Liabilities:
Depreciation	(2,496)		(2,331)
Leasing Activities, Net	(10,878)		(10,638)
Unrealized Gain on Securities	(4,366)		(9,734)
FHLB Stock Dividends	(199)		(206)
Prepaid Expenses	(646)		(641)
Intangibles	(1,651)		(1,670)
Deferred Loan Fees	(790)		(730)
Mortgage Servicing Rights	—		(9)
Right of Use Asset (Operating Leases)	(1,515)		(2,028)
Other	(75)		(230)
Total Deferred Tax Liabilities	(22,616)		(28,217)
Valuation Allowance	—		—
Net Deferred Tax Liability	$	(6,931)	$	(9,635)