Loans (Tables)

9 Months Ended

Sep. 30, 2023

Receivables [Abstract]

Schedule of Loans Classifications

Loans were comprised of the following classifications:

	September 30, 2023		December 31, 2022
Commercial:
Commercial and Industrial Loans	$	598,893	$	620,106
Commercial Real Estate Loans	2,076,962		1,966,884
Agricultural Loans	398,109		417,413
Leases	66,999		56,396
Retail:
Home Equity Loans	286,880		279,748
Consumer Loans	88,976		79,904
Credit Cards	20,144		17,512
Residential Mortgage Loans	356,610		350,682
Subtotal	3,893,573		3,788,645
Less: Unearned Income	(6,023)		(3,711)
Allowance for Credit Losses	(44,646)		(44,168)
Loans, net	$	3,842,904	$	3,740,766

Schedule of Allowance for Credit Losses for Loans

The following tables present the activity in the allowance for credit losses by portfolio segment for the three months ended September 30, 2023 and 2022:

September 30, 2023	Commercial and Industrial Loans		Commercial Real Estate Loans		Agricultural Loans		Leases		Consumer Loans		Home Equity Loans		Credit Cards		Residential Mortgage Loans		Total
Allowance for Credit Losses:
Beginning balance	$	13,567	$	21,834	$	3,956	$	235	$	640	$	1,436	$	288	$	2,310	$	44,266
Provision (Benefit) for credit loss expense	(436)		1,117		(168)		19		258		9		93		8		900
Loans charged-off	(175)		(56)		(2)		—		(352)		—		(64)		(1)		(650)
Recoveries collected	2		5		—		—		119		2		2		—		130
Total ending allowance balance	$	12,958	$	22,900	$	3,786	$	254	$	665	$	1,447	$	319	$	2,317	$	44,646

September 30, 2022	Commercial and Industrial Loans		Commercial Real Estate Loans		Agricultural Loans		Leases		Consumer Loans		Home Equity Loans		Credit Cards		Residential Mortgage Loans		Total
Allowance for Credit Losses:
Beginning balance	$	13,545	$	22,349	$	4,628	$	191	$	668	$	1,233	$	239	$	2,178	$	45,031
Provision (Benefit) for credit loss expense	141		(210)		(99)		27		305		85		52		49		350
Loans charged-off	(238)		(1)		—		—		(495)		(5)		(63)		(18)		(820)
Recoveries collected	7		5		—		—		116		—		8		2		138
Total ending allowance balance	$	13,455	$	22,143	$	4,529	$	218	$	594	$	1,313	$	236	$	2,211	$	44,699

The following tables present the activity in the allowance for credit losses by portfolio segment for the nine months ended September 30, 2023 and 2022:

September 30, 2023	Commercial and Industrial Loans		Commercial Real Estate Loans		Agricultural Loans		Leases		Consumer Loans		Home Equity Loans		Credit Cards		Residential Mortgage Loans		Total
Allowance for Credit Losses:
Beginning balance	$	13,749	$	21,598	$	4,188	$	209	$	595	$	1,344	$	257	$	2,228	$	44,168
Provision (Benefit) for credit loss expense	310		1,286		(375)		45		657		109		374		144		2,550
Loans charged-off	(1,252)		(56)		(27)		—		(980)		(39)		(325)		(58)		(2,737)
Recoveries collected	151		72		—		—		393		33		13		3		665
Total ending allowance balance	$	12,958	$	22,900	$	3,786	$	254	$	665	$	1,447	$	319	$	2,317	$	44,646

September 30, 2022	Commercial and Industrial Loans		Commercial Real Estate Loans		Agricultural Loans		Leases		Consumer Loans		Home Equity Loans		Credit Cards		Residential Mortgage Loans		Total
Allowance for Credit Losses:
Beginning balance	$	9,554	$	19,245	$	4,505	$	200	$	507	$	1,061	$	240	$	1,705	$	37,017
Acquisition of Citizens Union Bank of Shelbyville, KY	376		1,945		689		—		2		—		—		105		3,117
Provision (Benefit) for credit loss expense	3,803		1,013		(665)		18		823		309		131		418		5,850
Loans charged-off	(299)		(79)		—		—		(1,027)		(57)		(153)		(21)		(1,636)
Recoveries collected	21		19		—		—		289		—		18		4		351
Total ending allowance balance	$	13,455	$	22,143	$	4,529	$	218	$	594	$	1,313	$	236	$	2,211	$	44,699

Schedule of Non-Accrual and Past Due Loans

The following tables present the amortized cost in non-accrual loans and loans past due over 89 days still accruing by class of loans as of September 30, 2023 and December 31, 2022:

September 30, 2023	Non-Accrual With No Allowance for Credit Loss (1)		Total Non-Accrual		Loans Past Due Over 89 Days Still Accruing
Commercial and Industrial Loans	$	554	$	7,298	$	1,000
Commercial Real Estate Loans	137		1,006		145
Agricultural Loans	698		1,036		25
Leases	—		—		—
Home Equity Loans	567		621		—
Consumer Loans	32		32		—
Credit Cards	146		146		—
Residential Mortgage Loans	726		1,067		—
Total	$	2,860	$	11,206	$	1,170

(1) Includes non-accrual loans with no allowance for credit loss and are also included in Total Non-Accrual loans of $11,206.

December 31, 2022	Non-Accrual With No Allowance for Credit Loss (1)		Total Non-Accrual		Loans Past Due Over 89 Days Still Accruing
Commercial and Industrial Loans	$	1,142	$	7,936	$	1,427
Commercial Real Estate Loans	49		1,950		—
Agricultural Loans	994		1,062		—
Leases	—		—		—
Home Equity Loans	262		310		—
Consumer Loans	240		254		—
Credit Cards	146		146		—
Residential Mortgage Loans	676		1,230		—
Total	$	3,509	$	12,888	$	1,427

(1) Includes non-accrual loans with no allowance for credit loss and are also included in Total Non-Accrual loans of $12,888.

Schedule or Collateral-dependent Loans by Class

The following tables present the amortized cost basis of collateral-dependent loans by class of loans as of September 30, 2023 and December 31, 2022:

September 30, 2023	Real Estate		Equipment		Accounts Receivable		Other		Total
Commercial and Industrial Loans	$	3,070	$	134	$	—	$	6,707	$	9,911
Commercial Real Estate Loans	8,367		—		—		—		8,367
Agricultural Loans	2,796		1,097		—		—		3,893
Leases	—		—		—		—		—
Home Equity Loans	475		—		—		—		475
Consumer Loans	9		—		—		—		9
Credit Cards	—		—		—		—		—
Residential Mortgage Loans	847		—		—		—		847
Total	$	15,564	$	1,231	$	—	$	6,707	$	23,502

December 31, 2022	Real Estate		Equipment		Accounts Receivable		Other		Total
Commercial and Industrial Loans	$	2,078	$	1,219	$	272	$	5,851	$	9,420
Commercial Real Estate Loans	12,192		36		—		—		12,228
Agricultural Loans	4,944		318		—		—		5,262
Leases	—		—		—		—		—
Home Equity Loans	467		—		—		—		467
Consumer Loans	8		2		—		12		22
Credit Cards	—		—		—		—		—
Residential Mortgage Loans	1,060		—		—		—		1,060
Total	$	20,749	$	1,575	$	272	$	5,863	$	28,459

Schedule of Aging of Past Due Loans

The following tables present the aging of the amortized cost basis in past due loans by class of loans as of September 30, 2023 and December 31, 2022:

September 30, 2023	30-59 Days Past Due		60-89 Days Past Due		Greater Than 89 Days Past Due		Total Past Due		Loans Not Past Due		Total
Commercial and Industrial Loans	$	454	$	—	$	7,822	$	8,276	$	590,617	$	598,893
Commercial Real Estate Loans	387		384		1,012		1,783		2,075,179		2,076,962
Agricultural Loans	337		—		639		976		397,133		398,109
Leases	—		—		—		—		66,999		66,999
Home Equity Loans	1,460		215		621		2,296		284,584		286,880
Consumer Loans	269		19		32		320		88,656		88,976
Credit Cards	87		58		146		291		19,853		20,144
Residential Mortgage Loans	8,233		1,345		855		10,433		346,177		356,610
Total	$	11,227	$	2,021	$	11,127	$	24,375	$	3,869,198	$	3,893,573

December 31, 2022	30-59 Days Past Due		60-89 Days Past Due		Greater Than 89 Days Past Due		Total Past Due		Loans Not Past Due		Total
Commercial and Industrial Loans	$	268	$	681	$	8,285	$	9,234	$	610,872	$	620,106
Commercial Real Estate Loans	1,617		14		616		2,247		1,964,637		1,966,884
Agricultural Loans	343		—		123		466		416,947		417,413
Leases	—		—		—		—		56,396		56,396
Home Equity Loans	1,770		140		310		2,220		277,528		279,748
Consumer Loans	219		64		252		535		79,369		79,904
Credit Cards	86		24		146		256		17,256		17,512
Residential Mortgage Loans	6,330		2,783		1,051		10,164		340,518		350,682
Total	$	10,633	$	3,706	$	10,783	$	25,122	$	3,763,523	$	3,788,645

Schedule of Risk Category of Loans

Based on the analysis performed at September 30, 2023 and December 31, 2022, the risk category of loans by class of loans is as follows:

	Term Loans Amortized Cost Basis by Origination Year
As of September 30, 2023	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial and Industrial:
Risk Rating
Pass	$	88,379	$	140,656	$	86,196	$	30,700	$	36,656	$	51,279	$	136,528	$	570,394
Special Mention	48		470		498		1,609		642		1,991		5,843		11,101
Substandard	—		391		6,284		787		1,116		1,510		7,310		17,398
Doubtful	—		—		—		—		—		—		—		—
Total Commercial & Industrial Loans	$	88,427	$	141,517	$	92,978	$	33,096	$	38,414	$	54,780	$	149,681	$	598,893
Current Period Gross Charge-Offs	$	—	$	911	$	32	$	33	$	7	$	88	$	181	$	1,252
Commercial Real Estate:
Risk Rating
Pass	$	218,088	$	424,293	$	473,834	$	227,014	$	150,687	$	482,924	$	36,185	$	2,013,025
Special Mention	13,591		2,171		11,239		4,471		264		21,051		—		52,787
Substandard	—		203		5,360		1,152		748		3,372		315		11,150
Doubtful	—		—		—		—		—		—		—		—
Total Commercial Real Estate Loans	$	231,679	$	426,667	$	490,433	$	232,637	$	151,699	$	507,347	$	36,500	$	2,076,962
Current Period Gross Charge-Offs	$	—	$	—	$	56	$	—	$	—	$	—	$	—	$	56
Agricultural:
Risk Rating
Pass	$	33,037	$	58,537	$	41,034	$	42,723	$	22,653	$	104,949	$	65,960	$	368,893
Special Mention	2,528		240		635		5,037		2,552		10,101		2,649		23,742
Substandard	—		—		202		189		292		4,791		—		5,474
Doubtful	—		—		—		—		—		—		—		—
Total Agricultural Loans	$	35,565	$	58,777	$	41,871	$	47,949	$	25,497	$	119,841	$	68,609	$	398,109
Current Period Gross Charge-Offs	$	—	$	—	$	—	$	2	$	—	$	—	$	25	$	27
Leases:
Risk Rating
Pass	$	27,207	$	13,519	$	11,533	$	6,964	$	6,076	$	1,700	$	—	$	66,999
Special Mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Total Leases	$	27,207	$	13,519	$	11,533	$	6,964	$	6,076	$	1,700	$	—	$	66,999
Current Period Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

	Term Loans Amortized Cost Basis by Origination Year
As of December 31, 2022	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial and Industrial:
Risk Rating
Pass	$	156,318	$	117,648	$	39,949	$	46,505	$	18,423	$	51,482	$	154,203	$	584,528
Special Mention	56		148		577		78		551		2,346		1,672		5,428
Substandard	1,714		5,629		849		1,304		1,028		2,237		17,389		30,150
Doubtful	—		—		—		—		—		—		—		—
Total Commercial & Industrial Loans	$	158,088	$	123,425	$	41,375	$	47,887	$	20,002	$	56,065	$	173,264	$	620,106
Commercial Real Estate:
Risk Rating
Pass	$	398,631	$	490,747	$	261,462	$	162,701	$	129,151	$	427,433	$	35,163	$	1,905,288
Special Mention	3,982		1,568		4,612		135		13,689		25,371		—		49,357
Substandard	—		4,628		489		1,415		979		4,728		—		12,239
Doubtful	—		—		—		—		—		—		—		—
Total Commercial Real Estate Loans	$	402,613	$	496,943	$	266,563	$	164,251	$	143,819	$	457,532	$	35,163	$	1,966,884
Agricultural:
Risk Rating
Pass	$	62,673	$	47,682	$	47,355	$	25,431	$	21,728	$	92,344	$	83,862	$	381,075
Special Mention	634		842		6,066		4,149		2,355		11,440		4,310		29,796
Substandard	—		210		628		429		85		5,190		—		6,542
Doubtful	—		—		—		—		—		—		—		—
Total Agricultural Loans	$	63,307	$	48,734	$	54,049	$	30,009	$	24,168	$	108,974	$	88,172	$	417,413
Leases:
Risk Rating
Pass	$	20,057	$	14,461	$	9,648	$	8,901	$	1,851	$	1,478	$	—	$	56,396
Special Mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Total Leases	$	20,057	$	14,461	$	9,648	$	8,901	$	1,851	$	1,478	$	—	$	56,396

Schedule of Residential, Home Equity and Consumer Loans Based on Payment Activity

The following tables present the amortized cost in residential, home equity and consumer loans based on payment activity.

	Term Loans Amortized Cost Basis by Origination Year
As of September 30, 2023	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Total
Consumer:
Payment performance
Performing	$	40,108	$	28,347	$	10,852	$	3,710	$	1,139	$	2,121	$	2,667	$	88,944
Nonperforming	4		6		11		6		—		5		—		32
Total Consumer Loans	$	40,112	$	28,353	$	10,863	$	3,716	$	1,139	$	2,126	$	2,667	$	88,976
Current Period Gross Charge-Offs	$	880	$	42	$	23	$	24	$	3	$	1	$	7	$	980
Home Equity:
Payment performance
Performing	$	225	$	118	$	87	$	90	$	68	$	1,014	$	284,657	$	286,259
Nonperforming	—		—		251		—		—		92		278		621
Total Home Equity Loans	$	225	$	118	$	338	$	90	$	68	$	1,106	$	284,935	$	286,880
Current Period Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	24	$	15	$	39
Residential Mortgage:
Payment performance
Performing	$	40,631	$	66,546	$	87,909	$	42,517	$	18,330	$	99,610	$	—	$	355,543
Nonperforming	—		110		140		123		109		585		—		1,067
Total Residential Mortgage Loans	$	40,631	$	66,656	$	88,049	$	42,640	$	18,439	$	100,195	$	—	$	356,610
Current Period Gross Charge-Offs	$	—	$	—	$	22	$	36	$	—	$	—	$	—	$	58

	Term Loans Amortized Cost Basis by Origination Year
As of December 31, 2022	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
Consumer:
Payment performance
Performing	$	42,685	$	22,708	$	5,610	$	2,394	$	1,543	$	1,553	$	3,157	$	79,650
Nonperforming	3		19		212		8		2		10		—		254
Total Consumer Loans	$	42,688	$	22,727	$	5,822	$	2,402	$	1,545	$	1,563	$	3,157	$	79,904
Home Equity:
Payment performance
Performing	$	63	$	—	$	—	$	—	$	—	$	591	$	278,784	$	279,438
Nonperforming	—		20		—		—		19		1		270		310
Total Home Equity Loans	$	63	$	20	$	—	$	—	$	19	$	592	$	279,054	$	279,748
Residential Mortgage:
Payment performance
Performing	$	69,982	$	97,176	$	46,851	$	20,080	$	16,664	$	98,699	$	—	$	349,452
Nonperforming	—		161		253		—		78		738		—		1,230
Total Residential Mortgage Loans	$	69,982	$	97,337	$	47,104	$	20,080	$	16,742	$	99,437	$	—	$	350,682

Schedule of Recorded Investment in Credit Cards Based on Payment Activity

The following table presents the recorded investment in credit cards based on payment activity:

Credit Cards	September 30, 2023		December 31, 2022
Performing	$	19,998	$	17,366
Nonperforming	146		146
Total	$	20,144	$	17,512

Schedule of Loans Purchased and/or Sold During the Year

The following tables present loans purchased and/or sold during the year by portfolio segment and excludes the business combination activity:

September 30, 2023	Commercial and Industrial Loans		Commercial Real Estate Loans		Agricultural Loans		Leases		Consumer Loans		Home Equity Loans		Credit Cards		Residential Mortgage Loans		Total
Purchases	$	—	$	544	$	—	$	—	$	—	$	—	$	—	$	—	$	544
Sales	—		—		—		—		—		—		—		—		—

December 31, 2022	Commercial and Industrial Loans		Commercial Real Estate Loans		Agricultural Loans		Leases		Consumer Loans		Home Equity Loans		Credit Cards		Residential Mortgage Loans		Total
Purchases	$	522	$	411	$	—	$	—	$	—	$	—	$	—	$	—	$	933
Sales	—		3,819		97		—		—		—		—		—		3,916