FHLB Advances and Other Borrowings (Tables)

12 Months Ended

Dec. 31, 2023

Advance from Federal Home Loan Bank [Abstract]

Schedule of Borrowings, Debt and Repurchase Agreements

Information regarding each of these types of borrowings or other indebtedness is as follows:

	December 31,
	2023				2022
	Principal		Unamortized Discount and Debt Issuance Costs		Principal		Unamortized Discount and Debt Issuance Costs
Long-term Advances from Federal Home Loan Bank collateralized by qualifying mortgages, investment securities, and mortgage-backed securities	$	50,000	$	—	$	25,000	$	—
Junior Subordinated Debentures assumed from American Community Bancorp, Inc.	8,248		(1,723)		8,248		(1,873)
Junior Subordinated Debentures assumed from River Valley Bancorp, Inc.	7,217		(977)		7,217		(1,082)
Junior Subordinated Debentures assumed from Citizens First Corporation	5,155		(853)		5,155		(919)
Junior Subordinated Debentures assumed from Citizens Union Bancorp of Shelbyville, Inc.	20,600		(1,885)		20,600		(2,020)
Subordinated Debentures	40,000		(455)		40,000		(538)
Finance Lease Obligation	2,642		—		2,857		—
Long-term Borrowings	133,862		(5,893)		109,077		(6,432)
Overnight Variable Rate Advances from Federal Home Loan Bank collateralized by qualifying mortgages, investment securities, and mortgage-backed securities	—		—		25,000		—
Federal Funds Purchased	25,000		—		11,200		—
Repurchase Agreements	40,968		—		64,961		—
Short-term Borrowings	65,968		—		101,161		—
Total Borrowings	$	199,830	$	(5,893)	$	210,238	$	(6,432)

Schedule of Repurchase Agreements

	2023			2022
Average Daily Balance During the Year	$	51,474		$	52,932
Average Interest Rate During the Year	1.16		%	0.20		%
Maximum Month-end Balance During the Year	$	60,055		$	72,084
Weighted Average Interest Rate at Year-end	1.44		%	0.57		%

Schedule of Principal Payments on Long-Term Borrowings

At December 31, 2023, scheduled principal payments on long-term borrowings, excluding the capitalized lease obligation and acquired subordinated debentures (which are discussed below) are as follows:

2024	$	25,000
2025	—
2026	—
2027	—
2028	25,000
Thereafter	39,545
Total	$	89,545

Schedule of Issuance of Subordinated Debentures

The following table summarizes the terms of each issuance:

	Date of Issuance	Issuance Amount		Carrying Amount at December 31, 2023		Variable Rate (1)	Rate as of December 31, 2023		Rate as of December 31, 2022 (2)		Maturity Date
ACB Trust I	5/6/2005	$	5,155	$	4,105	3-Month SOFR + 2.15%	7.81	%	6.90	%	May 2035
ACB Trust II	7/15/2005	3,093		2,420		3-Month SOFR + 1.85%	7.49	%	6.54	%	July 2035
RIVR Statutory Trust I	3/26/2003	7,217		6,240		3-Month SOFR + 3.15%	8.77	%	7.87	%	March 2033
Citizens First Statutory Trust I	10/16/2006	5,155		4,302		3-Month SOFR +1.65%	7.31	%	5.39	%	January 2037
CUB Capital Trust I	10/21/2004	10,310		9,642		3-Month SOFR +2.00%	7.64	%	6.69	%	November 2034
CUB Capital Trust II	8/17/2005	10,310		9,073		3-Month SOFR +1.50%	7.16	%	5.58	%	October 2035

(1)    “3-Month SOFR” refers to the three-month CME Term SOFR, which became effective following the first London banking day after June 30, 2023, plus the applicable spread adjustment of 0.26161% percent.

(2)    Prior to CME Term SOFR becoming effective, the variable rate was based upon LIBOR rates and tenors. See Replacement of LIBOR Benchmark below for additional information.