0000721994-24-000013 | 10-K | XBRL Viewer

Print Document View Excel Document

FAIR VALUE - Additional Information (Details)	12 Months Ended
FAIR VALUE - Additional Information (Details)	Dec. 31, 2023 USD ($) prepaymentSpeed	Dec. 31, 2022 prepaymentSpeed
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	3.50%
Mortgage servicing rights	$ 2,200,000
Weighted average maturity of residential mortgages	20 years
Prepayment speed used in unobservable assumptions \| prepaymentSpeed	148	159
Discount rate used to estimate fair value	10.50%	9.50%
Minimum
Assets Pledged As Collateral For Loans Receivable [Line Items]
Amount of variance	$ 100,000
Minimum \| Commercial Real Estates \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	30.00%
Minimum \| Inventory Finished Goods \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	40.00%
Minimum \| Finished Goods \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	40.00%
Minimum \| Inventory Work In Process \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	60.00%
Minimum \| Equipment \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	20.00%
Minimum \| Marketable Securities \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	10.00%
Maximum \| Commercial Real Estates \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	50.00%
Maximum \| Inventory Finished Goods \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	60.00%
Maximum \| Finished Goods \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	60.00%
Maximum \| Inventory Work In Process \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	100.00%
Maximum \| Equipment \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	50.00%
Maximum \| Marketable Securities \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	30.00%
Municipal Notes \| Minimum
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of variance	5.00%
Municipal Notes \| Maximum
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of variance	5.00%
US Government Agencies Short-term Debt Securities \| Minimum
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of variance	(3.00%)
U.S. Treasury securities \| Minimum
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of variance	(1.00%)
U.S. Treasury securities \| Maximum
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of variance	(1.00%)

INCOME TAXES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Statutory percentage rate of provision	21.00%
Deferred income tax asset (liability) allocated to unrealized net gain (loss) on securities available-for-sale	$ 41,100,000	$ 50,000,000.0
Deferred income tax asset allocated to pension plan and SERP	243,000	255,000
Unrecognized tax benefits	0	0
Interest and penalties related to unrecognized tax benefits	0	$ 0	$ 0
State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 20,000,000

SELECTED QUARTERLY DATA (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2023

Selected Quarterly Financial Information [Abstract]

Schedule of Quarterly Financial Information


2023	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Interest income	$	90,942	$	88,623	$	84,482	$	79,220
Interest expense	42,343		40,230		35,958		27,701
Net interest income	48,599		48,393		48,524		51,519
Provision for credit losses	300		400		800		4,350
Net interest income after provision	48,299		47,993		47,724		47,169
Noninterest income	17,208		10,835		11,501		10,314
Noninterest expense	29,445		29,097		42,734		29,434
Income tax expense	6,436		4,479		1,880		3,771
Net income	$	29,626	$	25,252	$	14,611	$	24,278

Basic earnings per common share	$	1.16	$	0.99	$	0.57	$	0.95
Diluted earnings per common share	$	1.16	$	0.98	$	0.57	$	0.94


2022	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Interest income	$	75,353	$	62,558	$	53,622	$	48,034
Interest expense	18,516		10,066		4,944		3,154
Net interest income	56,837		52,492		48,678		44,880
Provision for credit losses	8,958		0		0		417
Net interest income after provision	47,879		52,492		48,678		44,463
Noninterest income	10,519		10,164		10,492		10,687
Noninterest expense	27,434		27,894		27,913		26,969
Income tax expense	4,987		6,237		5,584		4,539
Net income	$	25,977	$	28,525	$	25,673	$	23,642

Basic earnings per common share	$	1.02	$	1.12	$	1.00	$	0.93
Diluted earnings per common share	$	1.01	$	1.11	$	1.00	$	0.92

SECURITIES

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

SECURITIES

Debt securities purchased with the intent and ability to hold to their maturity are classified as held-to-maturity securities. All other investment securities are classified as available-for-sale securities.

Available-for-Sale Securities

Information related to the amortized cost, fair value and allowance for credit losses of securities available-for-sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) at December 31, 2023 and 2022 is provided in the tables below.


(dollars in thousands)	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
2023

U.S. government sponsored agencies	$	146,692	$	0	$	(27,213)	$	0	$	119,479
Mortgage-backed securities: residential	522,275		118		(74,551)		0		447,842

State and municipal securities	557,352		65		(73,010)		0		484,407
Total	$	1,226,319	$	183	$	(174,774)	$	0	$	1,051,728

2022
U.S. Treasury securities	$	3,057	$	0	$	(23)	$	0	$	3,034
U.S. government sponsored agencies	156,184		0		(29,223)		0		126,961
Mortgage-backed securities: residential	578,175		67		(85,934)		0		492,308

State and municipal securities	663,367		157		(100,299)		0		563,225
Total	$	1,400,783	$	224	$	(215,479)	$	0	$	1,185,528

Held-to-Maturity Securities

Information related to the amortized cost, fair value and allowance for credit losses of securities held-to-maturity and the related gross gains and unrealized gains and losses at December 31, 2023 and 2022 is presented in the table below.


(dollars in thousands)	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
2023
State and municipal securities	$	129,918	$	0	$	(10,703)	$	0	$	119,215

2022
State and municipal securities	$	128,242	$	0	$	(17,213)	$	0	$	111,029

NOTE 2 – SECURITIES (continued)

On April 1, 2022, the Company elected to transfer securities from available-for-sale to held-to-maturity as an overall balance sheet management strategy. The fair value of securities transferred was $127.0 million from available-for-sale to held-to-maturity. The unrealized loss on the securities transferred from available-for-sale to held-to-maturity was $24.4 million ($19.3 million, net of tax) based on the fair value of the securities on the transfer date and was $20.9 million ($16.5 million, net of tax) at December 31, 2023. The Company has the current intent and ability to hold the transferred securities until maturity. Any net unrealized gain or loss on the transferred securities included in accumulated other comprehensive income (loss) at the time of the transfer will be amortized over the remaining life of the underlying security as an adjustment to the yield on those securities. No securities were transferred from available-for-sale to held-to-maturity during the year ended December 31, 2023.

Information regarding the fair value and amortized cost of available-for-sale and held-to-maturity debt securities by maturity as of December 31, 2023 is presented on the next page. Maturity information is based on contractual maturity for all securities other than mortgage-backed securities. Actual maturities of securities may differ from contractual maturities because borrowers may have the right to prepay the obligation without prepayment penalty.


	Available-for-Sale				Held-to-Maturity
(dollars in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	1,190	$	1,191	$	0	$	0
Due after one year through five years	8,011		7,421		0		0
Due after five years through ten years	40,627		38,730		0		0
Due after ten years	654,216		556,544		129,918		119,215
	704,044		603,886		129,918		119,215
Mortgage-backed securities	522,275		447,842		0		0
Total debt securities	$	1,226,319	$	1,051,728	$	129,918	$	119,215

Security proceeds, gross gains and gross losses for 2023, 2022 and 2021 were as follows:


(dollars in thousands)	2023		2022		2021
Sales of securities available-for-sale
Proceeds	$	105,175	$	25,332	$	13,964
Gross gains	439		140		797
Gross losses	(464)		(119)		0
Number of securities	115		30		9

In accordance with ASU No. 2017-8, purchase premiums for callable securities are amortized to the earliest call date and premiums on non-callable securities as well as discounts are recognized in interest income using the interest method over the terms of the securities or over the estimated lives of mortgage-backed securities. Gains and losses on sales are based on the amortized cost of the security sold and recorded on the trade date.

Securities with fair values of $792.0 million and $298.2 million were pledged as of December 31, 2023 and 2022, respectively, as collateral for borrowings from the FHLB and Federal Reserve Bank and for other purposes as permitted or required by law.

NOTE 2 – SECURITIES (continued)

Unrealized Loss Analysis on Available-for-Sale and Held-to-Maturity Securities

Information regarding available-for-sale securities securities with unrealized losses as of December 31, 2023 and 2022 is presented below. The tables distribute the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.


	Less than 12 months				12 months or more				Total
(dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
2023

U.S. government sponsored agencies	$	0	$	0	$	119,479	$	27,213	$	119,479	$	27,213
Mortgage-backed securities: residential	52		0		442,765		74,551		442,817		74,551

State and municipal securities	31,345		440		440,446		72,570		471,791		73,010
Total temporarily impaired	$	31,397	$	440	$	1,002,690	$	174,334	$	1,034,087	$	174,774

2022
U.S. Treasury securities	$	3,034	$	23	$	0	$	0	$	3,034	$	23
U.S. government sponsored agencies	8,420		1,350		118,541		27,873		126,961		29,223
Mortgage-backed securities: residential	165,897		18,637		323,727		67,297		489,624		85,934

State and municipal securities	277,967		33,405		244,436		66,894		522,403		100,299
Total temporarily impaired	$	455,318	$	53,415	$	686,704	$	162,064	$	1,142,022	$	215,479

Information regarding held-to-maturity securities with unrealized losses as of December 31, 2023 and 2022 is presented below. The table divides the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.


	Less than 12 months				12 months or more				Total
(dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
2023
State and municipal securities	$	0	$	0	$	119,215	$	10,703	$	119,215	$	10,703

2022
State and municipal securities	$	0	$	0	$	111,029	$	17,213	$	111,029	$	17,213

NOTE 2 – SECURITIES (continued)

The number of securities with unrealized losses as of December 31, 2023 and 2022 is presented below.


	Available-for-Sale			Held-to-Maturity
	Less than 12 months	12 months or more	Total	Less than 12 months	12 months or more	Total
2023

U.S. government sponsored agencies	0	17	17	0	0	0
Mortgage-backed securities: residential	1	126	127	0	0	0

State and municipal securities	40	370	410	0	41	41
Total temporarily impaired	41	513	554	0	41	41

2022
U.S. Treasury securities	7	0	7	0	0	0
U.S. government sponsored agencies	1	16	17	0	0	0
Mortgage-backed securities: residential	95	41	136	0	0	0

State and municipal securities	269	223	492	0	41	41
Total temporarily impaired	372	280	652	0	41	41

Available-for-sale and held-to-maturity debt securities in unrealized loss positions are evaluated for impairment related to credit losses at least quarterly. For available-for-sale debt securities in an unrealized loss position, management first assesses whether it intends to sell, or it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through the consolidated income statement. For available-for-sale debt securities that do not meet the criteria and for held-to-maturity securities, management evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security and the issuer, among other factors. If this assessment indicates that a credit loss exists, management compares the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis for the security, a credit loss exists and an allowance for credit losses is recorded, limited to the amount that the fair value of the security is less than its amortized cost basis. For available-for-sale debt securities, any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income (loss), net of applicable taxes.

No allowance for credit losses for available-for-sale or held-to-maturity securities was recorded at December 31, 2023 or 2022. Accrued interest receivable on available-for-sale and held-to-maturity debt securities totaled $7.6 million and $8.9 million at December 31, 2023 and 2022, respectively, and is excluded from the estimate of credit losses.

Ninety-nine percent of the securities are backed by the U.S. government, government agencies, government sponsored agencies or are rated above investment grade with a long history of no credit losses, except for certain non-local or local municipal securities, which are not rated. The U.S. government sponsored agencies and mortgage-backed securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major credit rating agencies, and have a long history of no credit losses. Therefore, for those securities, we do not record expected credit losses. State and municipal securities credit losses are benchmarked against highly rated municipal securities of similar duration, as published by Moody's, resulting in an immaterial allowance for credit losses.

COMMITMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Financial Instruments Commitments

These financial instruments include commitments to make loans and open-ended revolving lines of credit. Amounts as of the years ended December 31, 2023 and 2022, were as follows:


	2023				2022
(dollars in thousands)	Fixed Rate		Variable Rate		Fixed Rate		Variable Rate
Commercial loan lines of credit	$	96,814	$	2,373,830	$	140,022	$	2,129,211
Standby letters of credit	0		51,383		0		48,406
Real estate mortgage loans	302		4,271		377		5,668
Real estate construction mortgage loans	0		4,271		2,212		9,043
Home equity mortgage open-ended revolving lines	0		364,928		0		341,622
Consumer loan open-ended revolving lines	0		26,870		0		25,916
Total	$	97,116	$	2,825,553	$	142,611	$	2,559,866

Schedule Of Rate Of Interest Percentage Financial Instruments

The index on variable rate commercial loan commitments is principally the national prime rate. Interest rate ranges on commitments and open-ended revolving lines of credit for years ended December 31, 2023 and 2022, were as follows:


	2023		2022
	Fixed Rate	Variable Rate	Fixed Rate	Variable Rate
Commercial loan	1.00-14.50%	1.63-14.50%	1.99-14.50%	1.63-13.00%
Real estate mortgage loan	7.38%	4.63-13.50%	0.00-7.00%	3.13-12.50%
Consumer loan open-ended revolving line	15.00%	8.50-15.00%	15.00%	7.00-15.00%

INCOME TAXES - Summary of Net Deferred Tax Asset And Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Bad debts	$ 18,384	$ 18,561
Pension and deferred compensation liability	1,823	2,272
Nonaccrual loan interest	494	256
Long-term incentive plan	2,342	2,894
Lease liability	1,199	1,354
Deferred loan fees	781	572
Accrued legal reserve	635	819
Net operating loss carryforward	913	0
Other	591	1,130
Deferred tax asset	27,162	27,858
Deferred tax liabilities:
Depreciation	3,645	4,257
Loan servicing rights	570	694
State taxes	949	786
Intangible assets	1,270	1,270
REIT spillover dividend	2,140	1,290
Prepaid expenses	801	988
Lease right of use	1,199	1,354
Other	480	585
Deferred tax liability	11,054	11,224
Valuation allowance	0	0
Net deferred tax asset	$ 16,108	$ 16,634

PENSION AND OTHER POSTRETIREMENT PLANS - Components of net periodic benefit cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net pension expense:
Net (gain) loss	$ 13	$ (115)	$ (390)
Pension Benefits
Net pension expense:
Service cost	0	0	0
Interest cost	75	53	52
Expected return on plan assets	(123)	(130)	(133)
Recognized net actuarial (gain) loss	18	99	160
Settlement cost	27	23	65
Net pension expense	(3)	45	144
Net (gain) loss	(43)	(215)	(350)
Amortization of net loss	(17)	(99)	(160)
Total recognized in other comprehensive income (loss)	(60)	(314)	(510)
Total recognized in net pension expense and other comprehensive income (loss)	$ (63)	$ (269)	$ (366)
Interest cost, location	Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
Expected return on plan assets, location	Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
SERP Benefits
Net pension expense:
Service cost	$ 0	$ 0	$ 0
Interest cost	33	20	18
Expected return on plan assets	(38)	(45)	(47)
Recognized net actuarial (gain) loss	42	45	82
Settlement cost	0	0	0
Net pension expense	37	20	53
Net (gain) loss	56	100	(40)
Amortization of net loss	(42)	(45)	(82)
Total recognized in other comprehensive income (loss)	14	55	(122)
Total recognized in net pension expense and other comprehensive income (loss)	$ 51	$ 75	$ (69)
Interest cost, location	Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
Expected return on plan assets, location	Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Weighted Average Number of Shares

Following are the factors used in the earnings per share computations:


(dollars in thousand except share and per share data)	2023		2022		2021
Basic earnings per common share:
Net income	$	93,767	$	103,817	$	95,733
Weighted-average common shares outstanding	25,604,751		25,528,328		25,475,994
Basic earnings per common share	$	3.67	$	4.07	$	3.76
Diluted earnings per common share:
Net income	$	93,767	$	103,817	$	95,733
Weighted-average common shares outstanding for basic earnings per common share	25,604,751		25,528,328		25,475,994
Add: Dilutive effect of assumed exercises of stock options and awards	118,414		184,210		144,111
Average shares and dilutive potential common shares	25,723,165		25,712,538		25,620,105
Diluted earnings per common share	$	3.65	$	4.04	$	3.74

BORROWINGS - Additional Information (Details)	12 Months Ended
BORROWINGS - Additional Information (Details)	Dec. 31, 2023 USD ($) bank	Dec. 31, 2022 USD ($)	Oct. 11, 2023 USD ($)	Oct. 10, 2023 USD ($)
Debt Instrument [Line Items]
Residential real estate loans and securities pledged as collateral for FHLB advances, carrying value	$ 824,000,000	$ 549,000,000
FHLB stock	18,000,000.0	12,400,000
FHLB borrowing capacity, authorized	800,000,000.0	800,000,000.0
Commercial loans pledged as collateral for federal reserve discount window	1,590,000,000	928,600,000
Federal reserve borrowing capacity	1,260,000,000	758,300,000
Remaining borrowing capacity	$ 325,000,000	350,000,000.0
Number of banks \| bank	11
Proceeds from lines of credit	$ 0	22,000,000
Federal Funds purchased	0	22,000,000
American Financial Exchange
Debt Instrument [Line Items]
Remaining borrowing capacity	319,000,000.0	319,000,000.0
Federal Funds purchased	0	$ 0
Pledged as Collateral
Debt Instrument [Line Items]
Securities borrowed collateral value	$ 150,500,000
FHLB of Indianapolis Bullet Advance
Debt Instrument [Line Items]
Interest rate	5.55%	4.21%
Federal Home Loan Bank Advances
Debt Instrument [Line Items]
Current borrowing capacity	$ 574,900,000	$ 574,900,000
Borrowings	0	0
Line of Credit
Debt Instrument [Line Items]
Borrowings	$ 0	$ 0
Line of Credit \| Unsecured Revolving Credit Agreement
Debt Instrument [Line Items]
Borrowing capacity			$ 30,000,000
Debt instrument, term	1 year
Line of Credit \| Previous Credit Agreement
Debt Instrument [Line Items]
Borrowing capacity				$ 12,500,000

PENSION AND OTHER POSTRETIREMENT PLANS - Schedule of Expected Benefit Payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Pension Benefits
2024	$ 185
2025	176
2026	186
2027	132
2028	132
2029-2033	491
SERP Benefits
2024	129
2025	120
2026	109
2027	97
2028	84
2029-2033	$ 232

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Amortized Cost Basis of Collateral Dependent Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Collateral Dependent Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	$ 1,408	$ 3,225
General Business Assets	12,230	25,147
Other	1,673	1,397
Total	15,311	29,769
Commercial and Industrial \| Working capital lines of credit loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	50	50
General Business Assets	2,454	5,402
Other	0	0
Total	2,504	5,452
Commercial and Industrial \| Non-working capital loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	40	544
General Business Assets	8,202	18,109
Other	400	229
Total	8,642	18,882
Commercial Real Estate and Multi-family Residential \| Owner occupied loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	595	413
General Business Assets	1,474	1,491
Other	1,161	1,161
Total	3,230	3,065
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	0	0
General Business Assets	0	0
Other	0	0
Total	0	0
Agri-business and Agricultural \| Loans secured by farmland
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	0	0
General Business Assets	100	145
Other	0	0
Total	100	145
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	559	2,030
General Business Assets	0	0
Other	0	0
Total	559	2,030
Consumer 1-4 Family Mortgage \| Open end and junior lien loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	164	188
General Business Assets	0	0
Other	0	0
Total	164	188
Consumer 1-4 Family Mortgage \| Other consumer loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	0	0
General Business Assets	0	0
Other	112	7
Total	$ 112	$ 7

CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS

12 Months Ended

Dec. 31, 2023

Capital Requirements and Restrictions On Retained Earnings [Abstract]

CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS

The Company became a financial holding company effective May 30, 2012 and is now required to be well capitalized under the applicable regulatory guidelines. The Company and the Bank are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet certain heightened minimum capital requirements can initiate certain mandatory, and possibly discretionary actions by regulators that, if undertaken, could have a direct material effect on the financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weighting and other factors.

The capital adequacy requirements were heightened by the Basel III Rule, previously defined, which went into effect on January 1, 2015 with a phase-in period for certain aspects of the rule through 2019. Under the Basel III rule, the Company must hold a capital conservation buffer above the adequately capitalized risk-based capital ratios. The capital conservation buffer was phased in from 0.00% for 2015 to 2.50% by 2019. The capital conservation buffer for 2023 and 2022 was 2.50%. The net unrealized gain or loss on available-for-sale securities is not included in computing regulatory capital. The quantitative measures established by regulation to ensure capital adequacy that were in effect on December 31, 2023 and 2022, require the Company and the Bank to maintain minimum capital amounts and ratios (set forth in the following table) of Total, Tier I and Common Equity Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined in the regulation), and of Tier I capital (as defined in the regulation) to average assets (as defined). Management believes, as of the years ended December 31, 2023 and 2022, that the Company and the Bank met all capital adequacy requirements to which they are subject.

NOTE 15 – CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS (continued)

As of December 31, 2023, the most recent notification from the federal regulators categorized the Company and the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Company and the Bank must maintain minimum Total risk-based capital ratios, Tier I risk-based capital ratios and Tier I leverage capital ratios as set forth in the table. There have been no conditions or events since that notification that management believes have changed the Company and the Bank’s category.


	Actual				Minimum Required For Capital Adequacy Purposes				For Capital Adequacy Purposes Plus Capital Conservation Buffer				Minimum "Required" to Be "Well" Capitalized Under "Prompt" Corrective Action Regulations
(dollars in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2023
Total Capital (to Risk Weighted Assets)
Consolidated	$	870,390	15.47	%	$	450,211	8.00	%	$	590,901	N/A		N/A		N/A
Bank	852,405		15.16		449,894		8.00		590,486		10.50	%	$	562,367	10.00	%
Tier I Capital (to Risk Weighted Assets)
Consolidated	799,929		14.21		337,658		6.00		478,349		N/A		N/A		N/A
Bank	781,999		13.91		337,420		6.00		478,012		8.50		449,894		8.00
Common Equity Tier 1 (CET1)
Consolidated	799,929		14.21		253,243		4.50		393,934		N/A		N/A		N/A
Bank	781,999		13.91		253,065		4.50		393,657		7.00		365,539		6.50
Tier I Capital (to Average Assets)
Consolidated	799,929		11.82		270,636		4.00		270,636		N/A		N/A		N/A
Bank	781,999		11.58		270,041		4.00		270,041		4.00		337,551		5.00

As of December 31, 2022
Total Capital (to Risk Weighted Assets)
Consolidated	$	821,008	15.07	%	$	435,786	8.00	%	$	571,969	N/A		N/A		N/A
Bank	801,044		14.74		434,758		8.00		570,620		10.50	%	$	543,448	10.00	%
Tier I Capital (to Risk Weighted Assets)
Consolidated	752,751		13.82		326,840		6.00		463,023		N/A		N/A		N/A
Bank	732,966		13.49		326,069		6.00		461,930		8.50		434,758		8.00
Common Equity Tier 1 (CET1)
Consolidated	752,751		13.82		245,130		4.50		381,313		N/A		N/A		N/A
Bank	732,966		13.49		244,551		4.50		380,413		7.00		353,241		6.50
Tier I Capital (to Average Assets)
Consolidated	752,751		11.50		261,859		4.00		261,859		N/A		N/A		N/A
Bank	732,966		11.22		261,222		4.00		261,222		4.00		326,527		5.00

The Bank is required to obtain the approval of the Indiana Department of Financial Institutions for the payment of any dividend if the total amount of all dividends declared by the Bank during the calendar year, including the proposed dividend, would exceed the sum of the retained net income for the year-to-date combined with the retained net income for the previous two years. Indiana law defines “retained net income” to mean the net income of a specified period, calculated under the consolidated report of income instructions, less the total amount of all dividends declared for the specified period. As of December 31, 2023, approximately $116.7 million was available to be paid as dividends to the Company by the Bank.

The payment of dividends by any financial institution or its holding company is affected by the requirement to maintain adequate capital pursuant to applicable capital adequacy guidelines and regulations, and a financial institution generally is prohibited from paying any dividends if, following payment thereof, the institution would be undercapitalized. As described above, the Bank exceeded its minimum capital requirements under applicable guidelines as of December 31, 2023. Notwithstanding the availability of funds for dividends, however, the FDIC may prohibit the payment of any dividends by the Bank if the FDIC determines such payment would constitute an unsafe or unsound practice.

SECURITIES - Schedule of Held-to-Maturity of Securities Continuous Unrealized Loss Position (Details) - State and municipal securities - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Held-to-Maturity Securities [Line Items]
Less than 12 Months, Fair Value	$ 0	$ 0
Less than 12 Months, Unrealized Losses	0	0
12 Months or Longer, Fair Value	119,215	111,029
12 Months or Longer, Unrealized Losses	10,703	17,213
Total Fair Value	119,215	111,029
Total Unrealized Losses	$ 10,703	$ 17,213

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Dec. 31, 2023 USD ($) branchOffice county segment shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($)	Jan. 01, 2024 USD ($)	Dec. 31, 2020 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of branch offices \| branchOffice	53
Number of counties where branch offices are located \| county	15
Investment loans excluding accrued interest	$ 21,500,000	$ 18,400,000
Accrued interest location	Interest Receivable	Interest Receivable
Threshold for loans individually analyzed for impairment	$ 250,000
Investment in limited partnerships	13,000,000.0	$ 12,200,000
Commitment to fund limited partnerships	2,800,000	3,900,000
Balance of real estate owned	384,000	100,000
Loan servicing fees	$ 1,200,000	$ 1,200,000	$ 1,200,000
Loan servicing fees location	Mortgage banking income (loss)	Mortgage banking income (loss)	Mortgage banking income (loss)
Mortgage servicing rights	$ 2,200,000	$ 2,700,000
Unpaid principal balances	333,100,000	364,300,000
Escrow deposit	1,500,000	1,700,000
Bank owned life insurance	109,114,000	108,407,000
Accumulated impairment loss	$ 0	$ 0	$ 0
Treasury stock (in shares) \| shares	473,120	475,902
Shares purchased under director deferred compensation plan included in treasury stock (in shares) \| shares	184,019	186,801
Number of reportable operating segments \| segment	1
Equity	$ 649,793,000	$ 568,887,000	704,906,000		$ 657,184,000
Retained Earnings
Summary Of Significant Accounting Policies [Line Items]
Equity	692,760,000	646,100,000	$ 583,134,000		529,005,000
Cumulative Effect, Period of Adoption, Adjustment
Summary Of Significant Accounting Policies [Line Items]
Equity					(6,951,000)
Cumulative Effect, Period of Adoption, Adjustment \| Retained Earnings
Summary Of Significant Accounting Policies [Line Items]
Equity					$ (6,951,000)
Cumulative Effect, Period of Adoption, Adjustment \| Retained Earnings \| Subsequent Event
Summary Of Significant Accounting Policies [Line Items]
Equity				$ 1,000,000
Interest Rate Swap
Summary Of Significant Accounting Policies [Line Items]
Notional amount	826,400,000	760,500,000
Fair value of interest rate swap asset	27,200,000	36,900,000
Fair value of interest rate swap liability	27,200,000	36,900,000
Life Insurance \| Officer
Summary Of Significant Accounting Policies [Line Items]
Bank owned life insurance	104,800,000	102,500,000
Deferred Compensation \| Officer
Summary Of Significant Accounting Policies [Line Items]
Bank owned life insurance	$ 4,300,000	$ 5,900,000
Premises and Improvements \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Useful life	5 years
Premises and Improvements \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Useful life	40 years
Furniture Assets \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Useful life	3 years
Furniture Assets \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Useful life	7 years

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Crowe LLP
Auditor Firm ID	173
Auditor Location	South Bend, Indiana

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income	$ 48,599	$ 48,393	$ 48,524	$ 51,519	$ 56,837	$ 52,492	$ 48,678	$ 44,880	$ 197,035	$ 202,887	$ 178,088
Net securities gains (losses)									(25)	21	797
Income tax expense	6,436	4,479	1,880	3,771	4,987	6,237	5,584	4,539	16,566	21,347	21,711
Other expense									10,757	13,124	8,905
NET INCOME	$ 29,626	$ 25,252	$ 14,611	$ 24,278	$ 25,977	$ 28,525	$ 25,673	$ 23,642	93,767	103,817	95,733
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
NET INCOME									(1,633)	(1,290)	448
Reclassification out of Accumulated Other Comprehensive Income \| Unrealized Gains and (Losses) on Available-for-Sales Securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income									(1,987)	(1,518)
Net securities gains (losses)									(25)	21	797
Income tax expense									423	315	(167)
NET INCOME									(1,589)	(1,182)	630
Reclassification out of Accumulated Other Comprehensive Income \| Defined Benefit Pension Items
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense									15	36	60
Other expense									(59)	(144)	(242)
NET INCOME									$ (44)	$ (108)	$ (182)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

SECURITIES - Quantitative Disclosure of Held to Maturity Securities (Details) - position	Dec. 31, 2023	Dec. 31, 2022
Schedule of Held-to-Maturity Securities [Line Items]
Less than 12 months	0	0
12 months or more	41	41
Total	41	41
U.S. Treasury securities
Schedule of Held-to-Maturity Securities [Line Items]
Less than 12 months		0
12 months or more		0
Total		0
U.S. government sponsored agencies
Schedule of Held-to-Maturity Securities [Line Items]
Less than 12 months	0	0
12 months or more	0	0
Total	0	0
Mortgage-backed securities: residential
Schedule of Held-to-Maturity Securities [Line Items]
Less than 12 months	0	0
12 months or more	0	0
Total	0	0
State and municipal securities
Schedule of Held-to-Maturity Securities [Line Items]
Less than 12 months	0	0
12 months or more	41	41
Total	41	41

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

DEPOSITS (Tables)

12 Months Ended

Dec. 31, 2023

Deposits [Abstract]

Schedule of Certain Deposits

The following table details total deposits as of December 31, 2023 and 2022:


(dollars in thousands)	2023		2022
Non-interest bearing demand deposits	$	1,353,477	$	1,736,761
Savings and transaction accounts:
Savings deposits	301,168		403,773
Interest bearing demand deposits	3,049,059		2,693,900
Time deposits:
Other time deposits	224,083		170,759
Deposits of $100,000 to $250,000	235,096		185,194
Deposits of $250,000 or more	557,642		270,233
Total deposits	$	5,720,525	$	5,460,620

Schedule of Deposit Maturities

At December 31, 2023, the scheduled maturities of time deposits were as follows:


(dollars in thousands)	Amount
Maturing in 2024	$	879,303
Maturing in 2025	84,751
Maturing in 2026	16,885
Maturing in 2027	31,638
Maturing in 2028	4,110
Thereafter	134
Total time deposits	$	1,016,821

DEPOSITS - Additional information (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deposits [Abstract]
Total amount available to the bank	$ 100.0	$ 100.0
Total amount drawn	$ 10.0	$ 10.0

SECURITIES - Additional Information (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Apr. 01, 2022
Information related to available for sale securities
Fair value of held-to-maturity securities transferred from available-for sale			$ 127,000,000
Unrealized loss of held-to-maturity securities transferred from available-for sale	$ 20,900,000		24,400,000
Unrealized loss of held-to-maturity securities transferred from available-for sale, net of tax	16,500,000		$ 19,300,000
Available-for-sale Securities pledged as collateral	792,000,000.0	$ 298,200,000
Debt securities, available-for-sale, allowance for credit loss	0	0
Accrued interest receivable on available-for-sale and held-to-maturity debt securities	$ 7,600,000	$ 8,900,000
Securities backed by government or investment grade	99.00%

LOANS (Tables)

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Schedule of Loans

Total loans outstanding as of the years ended December 31, 2023 and 2022 consisted of the following:


(dollars in thousands)	2023		2022
Commercial and industrial loans:
Working capital lines of credit loans	$	604,893	$	650,948
Non-working capital loans	815,871		842,101
Total commercial and industrial loans	1,420,764		1,493,049

Commercial real estate and multi-family residential loans:
Construction and land development loans	634,435		517,664
Owner occupied loans	825,464		758,091
Nonowner occupied loans	724,101		706,107
Multi-family loans	253,534		197,232
Total commercial real estate and multi-family residential loans	2,437,534		2,179,094

Agri-business and agricultural loans:
Loans secured by farmland	162,890		201,200
Loans for agricultural production	225,874		230,888
Total agri-business and agricultural loans	388,764		432,088

Other commercial loans	120,726		113,593
Total commercial loans	4,367,788		4,217,824

Consumer 1-4 family mortgage loans:
Closed end first mortgage loans	258,103		212,742
Open end and junior lien loans	189,663		175,575
Residential construction and land development loans	8,421		19,249
Total consumer 1-4 family mortgage loans	456,187		407,566

Other consumer loans	96,022		88,075
Total consumer loans	552,209		495,641
Gross loans	4,919,997		4,713,465
Less: Allowance for credit losses	(71,972)		(72,606)
Net deferred loan fees	(3,463)		(3,069)
Loans, net	$	4,844,562	$	4,637,790

PARENT COMPANY STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheet

CONDENSED BALANCE SHEETS


	December 31,
(dollars in thousands)	2023		2022
ASSETS
Deposits with Lake City Bank	$	15,239	$	386
Deposits with other depository institutions	1,887		1,954
Cash	17,126		2,340
Investments in banking subsidiary	631,774		549,031
Investments in other subsidiaries	0		3,845
Other assets	3,578		13,819
Total assets	$	652,478	$	569,035
LIABILITIES
Dividends payable and other liabilities	$	2,774	$	237

STOCKHOLDERS’ EQUITY	649,704		568,798
Total liabilities and stockholders’ equity	$	652,478	$	569,035

Schedule of Condensed of Income and Comprehensive Income Statement

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS)


	Years Ended December 31,
(dollars in thousands)	2023		2022		2021
Dividends from Lake City Bank	$	46,263	$	40,590	$	47,355
Dividends from non-bank subsidiaries	1,525		1,300		1,035
Other income	5		1		3
Interest expense	0		0		(7)
Miscellaneous expense	(4,768)		(8,795)		(8,133)
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES	43,025		33,096		40,253
Income tax benefit	1,957		2,770		2,360
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES	44,982		35,866		42,613
Equity in undistributed income of subsidiaries	48,785		67,951		53,120
NET INCOME	$	93,767	$	103,817	$	95,733
COMPREHENSIVE INCOME (LOSS)	$	127,495	$	(101,199)	$	84,082

Schedule of Condensed Cash Flow Statement

CONDENSED STATEMENTS OF CASH FLOWS


	Years Ended December 31,
(dollars in thousands)	2023		2022		2021
Cash flows from operating activities:
Net income	$	93,767	$	103,817	$	95,733
Adjustments to net cash from operating activities:
Equity in undistributed income of subsidiaries	(48,785)		(67,951)		(53,120)
Other changes	16,601		6,157		5,177
Net cash from operating activities	61,583		42,023		47,790
Cash flows from investing activities:
Return of capital from subsidiary	3,602		0		0
Cash flows from investing activities	3,602		0		0
Cash flows from financing activities:

Proceeds from (payments on) short-term borrowings	0		0		(10,500)
Payments related to equity incentive plans	(3,135)		(1,780)		(1,914)
Purchase of treasury stock	(575)		(579)		(559)
Sales of treasury stock	405		221		115
Dividends paid	(47,094)		(40,838)		(34,640)
Cash flows from financing activities	(50,399)		(42,976)		(47,498)
Net increase (decrease) in cash and cash equivalents	14,786		(953)		292
Cash and cash equivalents at beginning of the year	2,340		3,293		3,001
Cash and cash equivalents at end of the year	$	17,126	$	2,340	$	3,293

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Total	Common Stock	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Noncontrolling Interest
Balance (in shares) at Dec. 31, 2020				25,239,748
Balance at Dec. 31, 2020	$ 657,184	$ (6,951)	$ 657,095	$ 114,927	$ 529,005	$ (6,951)	$ 27,744	$ (14,581)	$ 89
Increase (Decrease) in Stockholders' Equity
Net income	95,733		95,733		95,733
Other comprehensive income (loss), net of tax	(11,651)		(11,651)				(11,651)
Cash dividends declared	(34,653)		(34,653)		(34,653)
Treasury shares purchased under deferred directors' plan (in shares)				(8,820)
Treasury shares purchased under deferred directors' plan	0		0	$ 559				(559)
Treasury shares sold and distributed under deferred directors' plan (in shares)				5,664
Treasury shares sold and distributed under deferred directors’ plan	0		0	$ (115)				115
Stock activity under equity incentive plans (in shares)				64,201
Stock activity under equity incentive plans	(1,914)		(1,914)	$ (1,914)
Stock based compensation expense	7,158		7,158	$ 7,158
Balance (in shares) at Dec. 31, 2021				25,300,793
Balance at Dec. 31, 2021	704,906		704,817	$ 120,615	583,134		16,093	(15,025)	89
Increase (Decrease) in Stockholders' Equity
Net income	103,817		103,817		103,817
Other comprehensive income (loss), net of tax	(205,016)		(205,016)				(205,016)
Cash dividends declared	(40,851)		(40,851)		(40,851)
Treasury shares purchased under deferred directors' plan (in shares)				(7,641)
Treasury shares purchased under deferred directors' plan	0		0	$ 579				(579)
Treasury shares sold and distributed under deferred directors' plan (in shares)				8,555
Treasury shares sold and distributed under deferred directors’ plan	0		0	$ (221)				221
Stock activity under equity incentive plans (in shares)				47,518
Stock activity under equity incentive plans	(1,780)		(1,780)	$ (1,780)
Stock based compensation expense	7,811		7,811	$ 7,811
Balance (in shares) at Dec. 31, 2022				25,349,225
Balance at Dec. 31, 2022	568,887		568,798	$ 127,004	646,100		(188,923)	(15,383)	89
Increase (Decrease) in Stockholders' Equity
Net income	93,767		93,767		93,767
Other comprehensive income (loss), net of tax	33,728		33,728				33,728
Cash dividends declared	(47,107)		(47,107)		(47,107)
Treasury shares purchased under deferred directors' plan (in shares)				(10,073)
Treasury shares purchased under deferred directors' plan	0		0	$ 575				(575)
Treasury shares sold and distributed under deferred directors' plan (in shares)				12,855
Treasury shares sold and distributed under deferred directors’ plan	0		0	$ (405)				405
Stock activity under equity incentive plans (in shares)				78,559
Stock activity under equity incentive plans	(3,135)		(3,135)	$ (3,135)
Stock based compensation expense	3,653		3,653	$ 3,653
Balance (in shares) at Dec. 31, 2023				25,430,566
Balance at Dec. 31, 2023	$ 649,793		$ 649,704	$ 127,692	$ 692,760		$ (155,195)	$ (15,553)	$ 89

CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS (Tables)

12 Months Ended

Dec. 31, 2023

Capital Requirements and Restrictions On Retained Earnings [Abstract]

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations

There have been no conditions or events since that notification that management believes have changed the Company and the Bank’s category.


	Actual				Minimum Required For Capital Adequacy Purposes				For Capital Adequacy Purposes Plus Capital Conservation Buffer				Minimum "Required" to Be "Well" Capitalized Under "Prompt" Corrective Action Regulations
(dollars in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2023
Total Capital (to Risk Weighted Assets)
Consolidated	$	870,390	15.47	%	$	450,211	8.00	%	$	590,901	N/A		N/A		N/A
Bank	852,405		15.16		449,894		8.00		590,486		10.50	%	$	562,367	10.00	%
Tier I Capital (to Risk Weighted Assets)
Consolidated	799,929		14.21		337,658		6.00		478,349		N/A		N/A		N/A
Bank	781,999		13.91		337,420		6.00		478,012		8.50		449,894		8.00
Common Equity Tier 1 (CET1)
Consolidated	799,929		14.21		253,243		4.50		393,934		N/A		N/A		N/A
Bank	781,999		13.91		253,065		4.50		393,657		7.00		365,539		6.50
Tier I Capital (to Average Assets)
Consolidated	799,929		11.82		270,636		4.00		270,636		N/A		N/A		N/A
Bank	781,999		11.58		270,041		4.00		270,041		4.00		337,551		5.00

As of December 31, 2022
Total Capital (to Risk Weighted Assets)
Consolidated	$	821,008	15.07	%	$	435,786	8.00	%	$	571,969	N/A		N/A		N/A
Bank	801,044		14.74		434,758		8.00		570,620		10.50	%	$	543,448	10.00	%
Tier I Capital (to Risk Weighted Assets)
Consolidated	752,751		13.82		326,840		6.00		463,023		N/A		N/A		N/A
Bank	732,966		13.49		326,069		6.00		461,930		8.50		434,758		8.00
Common Equity Tier 1 (CET1)
Consolidated	752,751		13.82		245,130		4.50		381,313		N/A		N/A		N/A
Bank	732,966		13.49		244,551		4.50		380,413		7.00		353,241		6.50
Tier I Capital (to Average Assets)
Consolidated	752,751		11.50		261,859		4.00		261,859		N/A		N/A		N/A
Bank	732,966		11.22		261,222		4.00		261,222		4.00		326,527		5.00

COMMITMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES

During the normal course of business, the Company becomes a party to financial instruments with off-balance sheet risk in order to meet the financing needs of its customers. These financial instruments include commitments to make loans and open-ended revolving lines of credit. Amounts as of the years ended December 31, 2023 and 2022, were as follows:


	2023				2022
(dollars in thousands)	Fixed Rate		Variable Rate		Fixed Rate		Variable Rate
Commercial loan lines of credit	$	96,814	$	2,373,830	$	140,022	$	2,129,211
Standby letters of credit	0		51,383		0		48,406
Real estate mortgage loans	302		4,271		377		5,668
Real estate construction mortgage loans	0		4,271		2,212		9,043
Home equity mortgage open-ended revolving lines	0		364,928		0		341,622
Consumer loan open-ended revolving lines	0		26,870		0		25,916
Total	$	97,116	$	2,825,553	$	142,611	$	2,559,866


	2023		2022
	Fixed Rate	Variable Rate	Fixed Rate	Variable Rate
Commercial loan	1.00-14.50%	1.63-14.50%	1.99-14.50%	1.63-13.00%
Real estate mortgage loan	7.38%	4.63-13.50%	0.00-7.00%	3.13-12.50%
Consumer loan open-ended revolving line	15.00%	8.50-15.00%	15.00%	7.00-15.00%

Commitments, excluding open-ended revolving lines, generally have fixed expiration dates of one year or less. Open-ended revolving lines are monitored for proper performance and compliance on a monthly basis. Since many commitments expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. The Company follows the same credit policy (including requiring collateral, if deemed appropriate) to make such commitments as it follows for those loans that are recorded in its financial statements.

The Company’s exposure to credit losses in the event of nonperformance is represented by the contractual amount of the commitments. Management does not expect any significant losses as a result of these commitments.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends declared, per share (in USD per share)	$ 1.84	$ 1.60	$ 1.36

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Securities held-to-maturity, fair value	$ 119,215	$ 111,029
Allowance for credit losses	$ 71,972	$ 72,606
Common stock, shares authorized (in shares)	90,000,000	90,000,000
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares issued (in shares)	25,903,686	25,825,127
Common stock, shares outstanding (in shares)	25,430,566	25,349,225
Treasury stock, at cost (in shares)	473,120	475,902

DEPOSITS - Scheduled Maturities of Time Deposits (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Deposits [Abstract]
2024	$ 879,303
2025	84,751
2026	16,885
2027	31,638
2028	4,110
Thereafter	134
Total time deposits	$ 1,016,821

PARENT COMPANY STATEMENTS - CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
Other income									$ 9,141	$ 1,874	$ 2,725
Interest expense	$ (42,343)	$ (40,230)	$ (35,958)	$ (27,701)	$ (18,516)	$ (10,066)	$ (4,944)	$ (3,154)	(146,232)	(36,680)	(15,131)
Income tax benefit	(6,436)	(4,479)	(1,880)	(3,771)	(4,987)	(6,237)	(5,584)	(4,539)	(16,566)	(21,347)	(21,711)
NET INCOME	$ 29,626	$ 25,252	$ 14,611	$ 24,278	$ 25,977	$ 28,525	$ 25,673	$ 23,642	93,767	103,817	95,733
COMPREHENSIVE INCOME (LOSS)									127,495	(101,199)	84,082
Reportable Legal Entities \| Parent Company
Condensed Financial Statements, Captions [Line Items]
Other income									5	1	3
Interest expense									0	0	(7)
Miscellaneous expense									(4,768)	(8,795)	(8,133)
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES									43,025	33,096	40,253
Income tax benefit									1,957	2,770	2,360
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES									44,982	35,866	42,613
Equity in undistributed income of subsidiaries									48,785	67,951	53,120
NET INCOME									93,767	103,817	95,733
COMPREHENSIVE INCOME (LOSS)									127,495	(101,199)	84,082
Reportable Legal Entities \| Parent Company \| Lake City Bank
Condensed Financial Statements, Captions [Line Items]
Dividends from Lake City Bank, Lakeland Statutory Trust II									46,263	40,590	47,355
Reportable Legal Entities \| Parent Company \| Non-bank Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Dividends from Lake City Bank, Lakeland Statutory Trust II									$ 1,525	$ 1,300	$ 1,035

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Following are the factors used in the earnings per share computations:


(dollars in thousand except share and per share data)	2023		2022		2021
Basic earnings per common share:
Net income	$	93,767	$	103,817	$	95,733
Weighted-average common shares outstanding	25,604,751		25,528,328		25,475,994
Basic earnings per common share	$	3.67	$	4.07	$	3.76
Diluted earnings per common share:
Net income	$	93,767	$	103,817	$	95,733
Weighted-average common shares outstanding for basic earnings per common share	25,604,751		25,528,328		25,475,994
Add: Dilutive effect of assumed exercises of stock options and awards	118,414		184,210		144,111
Average shares and dilutive potential common shares	25,723,165		25,712,538		25,620,105
Diluted earnings per common share	$	3.65	$	4.04	$	3.74

There were no antidilutive stock options for 2023, 2022 and 2021.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 93,767	$ 103,817	$ 95,733
Adjustments to reconcile net income to net cash from operating activities:
Depreciation	6,173	6,020	6,105
Financing Receivable, Credit Loss, Expense (Reversal)	5,850	9,375	1,077
Net loss on sale and write down of other real estate owned	0	96	67
Amortization of loan servicing rights	0	757	2,282
Net change in loan servicing rights valuation allowance	540	(715)	0
Loans originated for sale, including participations	(8,601)	(28,666)	(119,439)
Net gain on sales of loans	(292)	(1,028)	(4,376)
Proceeds from sale of loans, including participations	8,022	36,454	126,391
Net (gain) loss on sale of premises and equipment	3	7	43
Net (gain) loss on sales and calls of securities available-for-sale	25	(21)	(797)
Net securities amortization	4,915	6,342	4,959
Stock based compensation expense	3,653	7,811	7,158
Earnings on life insurance	(3,133)	(432)	(2,467)
Gain on life insurance	(131)	0	(415)
Tax benefit of stock award issuances	(718)	(514)	(330)
Net change:
Interest receivable and other assets	(6,169)	(10,711)	(1,852)
Interest payable and other liabilities	10,077	40,750	(371)
Total adjustments	20,214	65,525	18,035
Net cash from operating activities	113,981	169,342	113,768
Cash flows from investing activities:
Proceeds from sale of securities available-for-sale	105,175	25,332	13,964
Proceeds from maturities, calls and principal paydowns of securities available-for-sale	71,833	108,129	137,812
Proceeds from maturities, calls and principal paydowns of securities held-to-maturity	5	30	0
Purchases of securities available-for-sale	(7,178)	(315,272)	(835,001)
Purchase of life insurance	(258)	(10,808)	(711)
Net (increase) decrease in total loans	(212,906)	(427,097)	356,660
Proceeds from sales of land, premises and equipment	13	6	8
Purchases of land, premises and equipment	(5,991)	(4,821)	(6,167)
Proceeds from redemption of Federal Home Loan Bank stock	0	932	0
Purchases of Federal Home Loan Bank stock	(5,625)	(2,955)	0
Proceeds from sales of other real estate owned	0	0	946
Proceeds from life insurance	0	0	943
Net cash from investing activities	(54,932)	(626,524)	(331,546)
Cash flows from financing activities:
Net increase (decrease) in total deposits	259,905	(274,787)	698,602
Net increase (decrease) in short-term borrowings	(22,000)	22,000	(10,500)
Payments on short-term FHLB borrowings	(275,000)	0	0
Proceeds from short-term FHLB borrowings	50,000	275,000	0
Payments on long-term FHLB borrowings	0	(75,000)	0
Proceeds from long-term FHLB borrowings	0	0	0
Common dividends paid	(47,094)	(40,838)	(34,640)
Preferred dividends paid	(13)	(13)	(13)
Payments related to equity incentive plan	(3,135)	(1,780)	(1,914)
Purchase of treasury stock	(575)	(579)	(559)
Sales of treasury stock	405	221	115
Net cash from financing activities	(37,507)	(95,776)	651,091
Net change in cash and cash equivalents	21,542	(552,958)	433,313
Beginning balance	130,282	683,240	249,927
Ending balance	151,824	130,282	683,240
Cash paid during the year for:
Interest	128,525	36,113	18,471
Income taxes	14,075	20,580	25,947
Supplemental non-cash disclosures:
Loans transferred to other real estate owned	284	0	893
Property transferred to held-for-sale	0	0	0
Right-of-use assets obtained in exchange for lease liabilities	$ 0	$ 1,612	$ 0

LOANS - Total Loans Outstanding (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 4,916,534	$ 4,710,396
Gross loans	4,919,997	4,713,465
Less: Allowance for credit losses	(71,972)	(72,606)	$ (67,773)	$ (61,408)
Net deferred loan fees	(3,463)	(3,069)
Loans, net	4,844,562	4,637,790
Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	4,367,788	4,217,824
Total consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	552,209	495,641
Other consumer loans \| Total consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	96,022	88,075
Commercial and Industrial \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,420,764	1,493,049
Less: Allowance for credit losses	(30,338)	(35,290)	(30,595)	(28,333)
Commercial and Industrial \| Working capital lines of credit loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	604,893	650,948
Commercial and Industrial \| Non-working capital loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	815,871	842,101
Commercial real estate and multi-family residential loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,437,534	2,179,094
Commercial real estate and multi-family residential loans \| Construction and land development loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	634,435	517,664
Commercial real estate and multi-family residential loans \| Owner occupied loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	825,464	758,091
Commercial real estate and multi-family residential loans \| Nonowner occupied loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	724,101	706,107
Commercial real estate and multi-family residential loans \| Multi-family loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	253,534	197,232
Agri-business and Agricultural \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	388,764	432,088
Less: Allowance for credit losses	(4,150)	(4,429)	$ (5,034)	$ (3,043)
Agri-business and Agricultural \| Loans secured by farmland \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	162,890	201,200
Agri-business and Agricultural \| Loans for agricultural production \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	225,874	230,888
Other commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	120,567	113,341
Other commercial loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	120,726	113,593
Consumer 1-4 Family Mortgage \| Total consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	456,187	407,566
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Total consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	258,103	212,742
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| Total consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	189,663	175,575
Consumer 1-4 Family Mortgage \| Residential construction and land development loans \| Total consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 8,421	$ 19,249

LAND, PREMISES AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

LAND, PREMISES AND EQUIPMENT, NET

Land, premises and equipment and related accumulated depreciation were as follows at December 31, 2023 and 2022:


(dollars in thousands)	2023		2022
Land	$	12,472	$	12,472
Premises and improvements	63,862		61,185
Equipment and furniture	37,483		37,460
Total cost	113,817		111,117
Less accumulated depreciation	55,918		53,020
Land, premises and equipment, net	$	57,899	$	58,097

The Company had no land, premises and equipment held for sale and included in other assets as of December 31, 2023 and 2022.

INCOME TAXES - Summary of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Current federal									$ 16,171	$ 22,825	$ 21,329
Deferred federal									1,302	(2,327)	(1,249)
Current state									(131)	1,297	1,892
Deferred state									(776)	(448)	(261)
Total income tax expense	$ 6,436	$ 4,479	$ 1,880	$ 3,771	$ 4,987	$ 6,237	$ 5,584	$ 4,539	$ 16,566	$ 21,347	$ 21,711

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2023

OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following tables summarize the changes within each classification of accumulated other comprehensive income (loss) for the years ended December 31, 2023 and 2022, all shown net of tax:


(dollars in thousands)	Unrealized Gains and (Losses) on Available-for-Sales Securities		Defined Benefit Pension Items		Total
Balance at January 1, 2023	$	(188,154)	$	(769)	$	(188,923)
Other comprehensive income (loss) before reclassification	32,105		(10)		32,095
Amounts reclassified from accumulated other comprehensive income (loss)	1,589		44		1,633
Net current period other comprehensive income (loss)	33,694		34		33,728
Balance at December 31, 2023	$	(154,460)	$	(735)	$	(155,195)


(dollars in thousands)	Unrealized Gains and (Losses) on Available-for-Sales Securities		Defined Benefit Pension Items		Total
Balance at January 1, 2022	$	17,056	$	(963)	$	16,093
Other comprehensive income (loss) before reclassification	(206,392)		86		(206,306)
Amounts reclassified from accumulated other comprehensive income (loss)	1,182		108		1,290
Net current period other comprehensive income (loss)	(205,210)		194		(205,016)
Balance at December 31, 2022	$	(188,154)	$	(769)	$	(188,923)

NOTE 20 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (continued)

Reclassifications out of accumulated other comprehensive income (loss) for the years ended December 31, 2023, 2022 and 2021 are as follows:


Details about Accumulated Other Comprehensive Income Components	Amount Reclassified From Accumulated Other Comprehensive Income (Loss)		Affected Line Item in the Statement Where Net Income is Presented
2023
(dollars in thousands)
Amortization of unrealized losses on held-to-maturity securities	$	(1,987)	Interest income
Realized gains and (losses) on available-for-sale securities	(25)		Net securities gains (losses)
Tax effect	423		Income tax expense
Subtotal	(1,589)		Net of tax
Amortization of defined benefit pension items(1)	(59)		Salaries and employee benefits
Tax effect	15		Income tax expense
Subtotal	(44)		Net of tax
Total reclassifications for the period	$	(1,633)	Net income


2022
(dollars in thousands)
Amortization of unrealized losses on held-to-maturity securities	$	(1,518)	Interest income
Realized gains and (losses) on available-for-sale securities	21		Net securities gains (losses)
Tax effect	315		Income tax expense
Subtotal	(1,182)		Net of tax
Amortization of defined benefit pension items(1)	(144)		Salaries and employee benefits
Tax effect	36		Income tax expense
Subtotal	(108)		Net of tax
Total reclassifications for the period	$	(1,290)	Net income


2021
(dollars in thousands)
Realized gains and (losses) on available-for-sale securities	$	797	Net securities gains (losses)
Tax effect	(167)		Income tax expense
Subtotal	630		Net of tax
Amortization of defined benefit pension items(1)	(242)		Salaries and employee benefits
Tax effect	60		Income tax expense
Subtotal	(182)		Net of tax
Total reclassifications for the period	$	448	Net income

(1)Included in the computation of net pension plan expense as more fully discussed in Note 10 – Pension and Other Postretirement Plans.

FAIR VALUE - Valuation Methodology and Unobservable Inputs for Level 3 Assets (Details) - Fair Value, Measurements, Nonrecurring $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Total collateral dependent loans	$ 5,350	$ 11,992
Commercial and Industrial \| Valuation, Collateral Based Measurements
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Total collateral dependent loans	$ 4,637	$ 11,532
Unobservable Inputs	Discount to reflect current market conditions and ultimate collectability	Discount to reflect current market conditions
Commercial and Industrial \| Weighted Average \| Valuation, Collateral Based Measurements
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.64	62
Commercial and Industrial \| Minimum \| Valuation, Collateral Based Measurements
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.09	29
Commercial and Industrial \| Maximum \| Valuation, Collateral Based Measurements
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.99	99
Commercial Real Estate and Multi-family Residential \| Valuation, Collateral Based Measurements
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Total collateral dependent loans	$ 682	$ 425
Unobservable Inputs	Discount to reflect current market conditions and ultimate collectability	Discount to reflect current market conditions
Commercial Real Estate and Multi-family Residential \| Weighted Average \| Valuation, Collateral Based Measurements
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.37	57
Commercial Real Estate and Multi-family Residential \| Minimum \| Valuation, Collateral Based Measurements
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.09	37
Commercial Real Estate and Multi-family Residential \| Maximum \| Valuation, Collateral Based Measurements
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.69	0.76
Loans secured by farmland \| Valuation, Collateral Based Measurements
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Total collateral dependent loans	$ 31	$ 35
Unobservable Inputs	Discount to reflect current market conditions and ultimate collectability	Discount to reflect current market conditions and ultimate collectability
Loans secured by farmland \| Weighted Average \| Valuation, Collateral Based Measurements
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.69	76
Other real estate owned \| Valuation, Cost Approach
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Total collateral dependent loans	$ 384	$ 100
Unobservable Inputs	Discount to reflect current market conditions and ultimate collectability	Discount to reflect current market conditions and ultimate collectability
Other real estate owned \| Weighted Average \| Valuation, Cost Approach
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.36	0.68

SECURITIES (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Summary of Available-For-Sale Securities


(dollars in thousands)	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
2023

U.S. government sponsored agencies	$	146,692	$	0	$	(27,213)	$	0	$	119,479
Mortgage-backed securities: residential	522,275		118		(74,551)		0		447,842

State and municipal securities	557,352		65		(73,010)		0		484,407
Total	$	1,226,319	$	183	$	(174,774)	$	0	$	1,051,728

2022
U.S. Treasury securities	$	3,057	$	0	$	(23)	$	0	$	3,034
U.S. government sponsored agencies	156,184		0		(29,223)		0		126,961
Mortgage-backed securities: residential	578,175		67		(85,934)		0		492,308

State and municipal securities	663,367		157		(100,299)		0		563,225
Total	$	1,400,783	$	224	$	(215,479)	$	0	$	1,185,528

Schedule of Debt Securities, Held-to-Maturity


(dollars in thousands)	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
2023
State and municipal securities	$	129,918	$	0	$	(10,703)	$	0	$	119,215

2022
State and municipal securities	$	128,242	$	0	$	(17,213)	$	0	$	111,029

Schedule of Available-For-Sale Securities By Maturity


	Available-for-Sale				Held-to-Maturity
(dollars in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	1,190	$	1,191	$	0	$	0
Due after one year through five years	8,011		7,421		0		0
Due after five years through ten years	40,627		38,730		0		0
Due after ten years	654,216		556,544		129,918		119,215
	704,044		603,886		129,918		119,215
Mortgage-backed securities	522,275		447,842		0		0
Total debt securities	$	1,226,319	$	1,051,728	$	129,918	$	119,215

Schedule of Sales of Securities Available For Sale

Security proceeds, gross gains and gross losses for 2023, 2022 and 2021 were as follows:


(dollars in thousands)	2023		2022		2021
Sales of securities available-for-sale
Proceeds	$	105,175	$	25,332	$	13,964
Gross gains	439		140		797
Gross losses	(464)		(119)		0
Number of securities	115		30		9

Schedule of Available-For-Sale Securities Continuous Unrealized Loss Position


	Less than 12 months				12 months or more				Total
(dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
2023

U.S. government sponsored agencies	$	0	$	0	$	119,479	$	27,213	$	119,479	$	27,213
Mortgage-backed securities: residential	52		0		442,765		74,551		442,817		74,551

State and municipal securities	31,345		440		440,446		72,570		471,791		73,010
Total temporarily impaired	$	31,397	$	440	$	1,002,690	$	174,334	$	1,034,087	$	174,774

2022
U.S. Treasury securities	$	3,034	$	23	$	0	$	0	$	3,034	$	23
U.S. government sponsored agencies	8,420		1,350		118,541		27,873		126,961		29,223
Mortgage-backed securities: residential	165,897		18,637		323,727		67,297		489,624		85,934

State and municipal securities	277,967		33,405		244,436		66,894		522,403		100,299
Total temporarily impaired	$	455,318	$	53,415	$	686,704	$	162,064	$	1,142,022	$	215,479

Schedule of Debt Securities, Held-To-Maturity, Unrealized Loss Position, Fair Value


	Less than 12 months				12 months or more				Total
(dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
2023
State and municipal securities	$	0	$	0	$	119,215	$	10,703	$	119,215	$	10,703

2022
State and municipal securities	$	0	$	0	$	111,029	$	17,213	$	111,029	$	17,213

Schedule of Quantitative Disclosure of Available-For-Sale Securities

The number of securities with unrealized losses as of December 31, 2023 and 2022 is presented below.


	Available-for-Sale			Held-to-Maturity
	Less than 12 months	12 months or more	Total	Less than 12 months	12 months or more	Total
2023

U.S. government sponsored agencies	0	17	17	0	0	0
Mortgage-backed securities: residential	1	126	127	0	0	0

State and municipal securities	40	370	410	0	41	41
Total temporarily impaired	41	513	554	0	41	41

2022
U.S. Treasury securities	7	0	7	0	0	0
U.S. government sponsored agencies	1	16	17	0	0	0
Mortgage-backed securities: residential	95	41	136	0	0	0

State and municipal securities	269	223	492	0	41	41
Total temporarily impaired	372	280	652	0	41	41

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

- Definition

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

+ Details

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) $ in Millions	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying amount of goodwill	$ 5.0

CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2015
Capital Requirements and Restrictions On Retained Earnings [Abstract]
Capital conservation buffer		2.50%	2.50%	2.50%	0.00%
Amount available for dividends	$ 116,700.0

COMMITMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES - Commitments To Make Loans And Open Ended Revolving Lines Of Credit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	$ 97,116	$ 142,611
Variable Rate	2,825,553	2,559,866
Total commercial loans
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	96,814	140,022
Variable Rate	2,373,830	2,129,211
Standby letters of credit
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	0	0
Variable Rate	51,383	48,406
Real estate mortgage loans
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	302	377
Variable Rate	4,271	5,668
Real estate construction mortgage loans
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	0	2,212
Variable Rate	4,271	9,043
Home equity mortgage open-ended revolving lines
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	0	0
Variable Rate	364,928	341,622
Total consumer loans
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	0	0
Variable Rate	$ 26,870	$ 25,916

BORROWINGS

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

BORROWINGS

The following table details outstanding fixed rate bullet advances with the Federal Home Loan Bank ("FHLB") of Indianapolis for the years ended December 31, 2023 and 2022:


(dollars in thousands)	2023		2022
Federal Home Loan Bank of Indianapolis	$	50,000	$	275,000

The advance outstanding at December 31, 2023 was a fixed-rate bullet advance and could not be prepaid by the Company without a penalty. The advance had an interest rate of 5.55% and matured on January 5, 2024. The note required payment at maturity and was secured by residential real estate loans and securities with a carrying value of approximately $824.0 million at December 31, 2023.

The advance outstanding at December 31, 2022 was a fixed-rate bullet advance and could not be prepaid by the Company without a penalty. The advance had an interest rate of 4.21% and matured on January 5, 2023. The note required payment at maturity and was secured by residential real estate loans and securities with a carrying value of $549.0 million.

At December 31, 2023 and 2022, the Company owned $18.0 million and $12.4 million, respectively, of FHLB stock which also secures debts owed to the FHLB. The Company is authorized by the Board to borrow up to $800.0 million at the FHLB, but availability is limited to $574.9 million based on collateral and outstanding borrowings. Federal Reserve Discount Window borrowings were secured by commercial loans and investment securities with a carrying value of $1.59 billion and $928.6 million as of December 31, 2023 and 2022. The Company had a borrowing capacity of $1.26 billion and $758.3 million at the Federal Reserve Bank as of December 31, 2023 and 2022, respectively. The Company enrolled in the Federal Reserve Bank Term Funding Program, initiated in March 2023, and had borrowings secured by investment securities with a collateral value of $150.5 million as of December 31, 2023. There were no borrowings outstanding under either program at the Federal Reserve Bank at December 31, 2023 and 2022.

The Company had $325.0 million and $350.0 million of availability in federal funds lines with eleven correspondent banks as of December 31, 2023 and 2022, respectively; $0 and $22.0 million were drawn upon as of December 31, 2023 and 2022, respectively. The Bank is also a member of the American Financial Exchange (AFX) where overnight fed funds purchased can be obtained from other banks on the Exchange that have approved the Bank for an unsecured, overnight line. These funds are only available if the approving banks have an ‘offer’ out to sell that day. The total amount approved for the Bank via AFX banks was $319.0 million at December 31, 2023 and 2022. There were no amounts drawn as of December 31, 2023 and 2022.

NOTE 9 – BORROWINGS (continued)

On October 11, 2023, the Company entered into an unsecured revolving credit agreement with another financial institution allowing the Company to borrow up to $30.0 million. This credit agreement replaced an existing agreement of $12.5 million in place with a different financial institution that the Company terminated on October 11, 2023. There were no borrowings outstanding on either credit agreement at December 31, 2023 or December 31, 2022. Funds provided under the current agreement may be used to repurchase shares of the Company's common stock under the share repurchase program, which was reauthorized by the Company's board of directors on April 11, 2023 and expires on April 30, 2025, and for general operations. The credit agreement includes a negative pledge agreement whereby the Company agrees not to pledge or otherwise encumber the stock of the Bank. The credit agreement has a one year term which may be amended, extended, modified or renewed.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

PARENT COMPANY STATEMENTS

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

PARENT COMPANY STATEMENTS

The Company operates primarily in the banking industry, which accounts for substantially all of its revenues, operating income and assets. Presented below are parent only financial statements:

CONDENSED BALANCE SHEETS


	December 31,
(dollars in thousands)	2023		2022
ASSETS
Deposits with Lake City Bank	$	15,239	$	386
Deposits with other depository institutions	1,887		1,954
Cash	17,126		2,340
Investments in banking subsidiary	631,774		549,031
Investments in other subsidiaries	0		3,845
Other assets	3,578		13,819
Total assets	$	652,478	$	569,035
LIABILITIES
Dividends payable and other liabilities	$	2,774	$	237

STOCKHOLDERS’ EQUITY	649,704		568,798
Total liabilities and stockholders’ equity	$	652,478	$	569,035

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS)


	Years Ended December 31,
(dollars in thousands)	2023		2022		2021
Dividends from Lake City Bank	$	46,263	$	40,590	$	47,355
Dividends from non-bank subsidiaries	1,525		1,300		1,035
Other income	5		1		3
Interest expense	0		0		(7)
Miscellaneous expense	(4,768)		(8,795)		(8,133)
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES	43,025		33,096		40,253
Income tax benefit	1,957		2,770		2,360
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES	44,982		35,866		42,613
Equity in undistributed income of subsidiaries	48,785		67,951		53,120
NET INCOME	$	93,767	$	103,817	$	95,733
COMPREHENSIVE INCOME (LOSS)	$	127,495	$	(101,199)	$	84,082

NOTE 18 – PARENT COMPANY STATEMENTS (continued)

CONDENSED STATEMENTS OF CASH FLOWS


	Years Ended December 31,
(dollars in thousands)	2023		2022		2021
Cash flows from operating activities:
Net income	$	93,767	$	103,817	$	95,733
Adjustments to net cash from operating activities:
Equity in undistributed income of subsidiaries	(48,785)		(67,951)		(53,120)
Other changes	16,601		6,157		5,177
Net cash from operating activities	61,583		42,023		47,790
Cash flows from investing activities:
Return of capital from subsidiary	3,602		0		0
Cash flows from investing activities	3,602		0		0
Cash flows from financing activities:

Proceeds from (payments on) short-term borrowings	0		0		(10,500)
Payments related to equity incentive plans	(3,135)		(1,780)		(1,914)
Purchase of treasury stock	(575)		(579)		(559)
Sales of treasury stock	405		221		115
Dividends paid	(47,094)		(40,838)		(34,640)
Cash flows from financing activities	(50,399)		(42,976)		(47,498)
Net increase (decrease) in cash and cash equivalents	14,786		(953)		292
Cash and cash equivalents at beginning of the year	2,340		3,293		3,001
Cash and cash equivalents at end of the year	$	17,126	$	2,340	$	3,293

PARENT COMPANY STATEMENTS - CONDENSED BALANCE SHEETS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Other assets	$ 121,425	$ 134,909
Total assets	6,524,029	6,432,371
STOCKHOLDERS’ EQUITY
STOCKHOLDERS’ EQUITY	649,704	568,798
Total liabilities and equity	6,524,029	6,432,371
Parent Company \| Reportable Legal Entities
ASSETS
Deposits with Lake City Bank	15,239	386
Deposits with other depository institutions	1,887	1,954
Cash	17,126	2,340
Investments in banking subsidiary	631,774	549,031
Investments in other subsidiaries	0	3,845
Other assets	3,578	13,819
Total assets	652,478	569,035
LIABILITIES
Dividends payable and other liabilities	2,774	237
STOCKHOLDERS’ EQUITY
STOCKHOLDERS’ EQUITY	649,704	568,798
Total liabilities and equity	$ 652,478	$ 569,035

PENSION AND OTHER POSTRETIREMENT PLANS - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) officer	Dec. 31, 2022 USD ($)	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Number of retired officers \| officer	6
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Expected Long-Term Rate of Return	8.85%
Target allocation	60.00%
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Expected Long-Term Rate of Return	3.00%
Target allocation	40.00%
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 1,500	$ 1,500
Expected amortization next fiscal year	$ (34)
Weighted Average Expected Long-Term Rate of Return	6.50%	6.50%	6.50%
Pension plan assets	$ 1,835	$ 1,820
Pension Benefits \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Expected Long-Term Rate of Return	8.85%
Pension Benefits \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Expected Long-Term Rate of Return	3.00%
SERP Benefits
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 693	$ 700
Expected amortization next fiscal year	$ 42
Weighted Average Expected Long-Term Rate of Return	6.50%	6.50%	6.50%
Pension plan assets	$ 546	$ 606
SERP Benefits \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Expected Long-Term Rate of Return	8.85%
SERP Benefits \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Expected Long-Term Rate of Return	3.00%

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Lease Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 724	$ 667	$ 536
Short-term lease cost	18	22	24
Total lease cost	$ 742	$ 689	$ 560

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan amount of credit quality analysis	$ 250,000
PPP \| Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable before allowance for credit loss	$ 1,300,000	$ 1,500,000

- Definition

Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 80
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479294/326-20-55-80

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 79
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479294/326-20-55-79

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479344/326-20-45-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(3)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1405
-Paragraph (a)
-Subparagraph (1)
-Publisher SEC

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1405
-Paragraph (a)
-Subparagraph (2)
-Publisher SEC

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1404
-Paragraph (a)
-Publisher SEC

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-14

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 7A
-SubTopic 10
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-7A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-5

+ Details

STOCK BASED COMPENSATION

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

STOCK BASED COMPENSATION

Effective April 8, 2008, the Company adopted the Lakeland Financial Corporation 2008 Equity Incentive Plan (the “2008 Plan”), which was approved by the Company’s stockholders. At its inception there were 1,125,000 shares of common stock reserved for grants of stock options, stock appreciation rights, stock awards and cash incentive awards to employees of the Company, its subsidiaries and Board. Effective April 9, 2013, the Company adopted the Lakeland Financial Corporation 2013 Equity Incentive Plan (the “2013 Plan”), which was also approved by the Company’s stockholders. At its inception the remaining shares of common stock available to grant under the 2008 Plan of 435,867 were transferred to the 2013 Plan and reserved for grants of stock options, stock appreciation rights, stock awards and cash incentive awards to employees of the Company, its subsidiaries and Board. Non-vested shares from the 2008 Plan that were unused at vesting were added to the shares available to grant of the 2013 Plan. Effective April 12, 2017, the Company adopted the Lakeland Financial Corporation 2017 Equity Incentive Plan (the “2017 Plan”), which was also approved by the Company’s stockholders and does not permit share recycling. At its inception there were 1,000,000 shares of common stock reserved for grants of stock options, stock appreciation rights, stock awards and cash incentive awards to employees of the Company, its subsidiaries and Board. As of December 31, 2023, 279,618 shares were available for future grants in the 2017 Plan, which is the only active plan. Certain stock awards provide for accelerated vesting if there is a change in control. The Company has a policy of issuing new shares to satisfy exercises of stock awards.

Included in net income for the years ended December 31, 2023, 2022 and 2021 was employee stock compensation expense of $3.7 million, $7.8 million and $7.2 million, and a related tax benefit of $908,000, $2.0 million and $1.8 million, respectively.

Stock Options

The equity incentive plan requires that the exercise price for options be the market price on the date the options are granted. The maximum option term is ten years and the awards usually vest over three years. The fair value of each stock option is estimated with the Black-Scholes pricing model, using the following weighted-average assumptions as of the grant date for stock options granted during the years presented. Expected volatilities are based on historical volatility of the Company’s stock over the immediately preceding expected life period, as well as other factors known on the grant date that would have a significant effect on the stock price during the expected life period. The expected stock option life used is the historical option life of the similar employee base or Board. The turnover rate is based on historical data of the similar employee base as a group

NOTE 14 – STOCK BASED COMPENSATION (continued)

and the Board as a group. The risk-free interest rate is the Treasury rate on the date of grant corresponding to the expected life period of the stock option.

There were no stock option grants or modifications in 2023, 2022 or 2021. As of December 31, 2023, there was no unrecognized compensation cost related to non-vested stock options granted under the plan.

There were no options exercised during the years ended December 31, 2023, 2022 or 2021.

Restricted Stock Awards and Units

The fair value of restricted stock awards and units is the closing price of the Company’s common stock on the date of grant adjusted for the present value of expected dividends. The restricted stock awards fully vest after one year or more of service, determined at the grant date, with the exception of 13,000 shares granted to non-employee directors of the Board included as vested, below, which vested on the grant date.

A summary of the changes in the Company’s non-vested shares for the year follows:


Nonvested Shares	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2023	23,065	$	76.13
Granted	40,109	63.36
Vested	(14,026)	61.84
Forfeited	(1,808)	73.32
Nonvested at December 31, 2023	47,340	$	69.65

As of December 31, 2023, there was $862,000 unrecognized compensation cost related to non-vested shares granted under the plan. The cost is expected to be recognized over a weighted period of 1.7 years. The total fair value of shares vested during the years ended December 31, 2023, 2022 and 2021 was $862,000, $1.2 million and $1.1 million, respectively.

Performance Stock Units

The fair value of stock awards is the closing price of the Company’s common stock on the date of grant, adjusted for the present value of expected dividends. The expected dividend rate is assumed to be the most recent dividend rate declared by the Board on the grant date. The grant date fair value of stock awards is assumed at the target payout rate. The stock awards fully vest on the third anniversary of the grant date. The 2022-2024, 2021-2023 and 2020-2022 Long-Term Incentive Plans must be paid in stock and have performance conditions which include revenue growth, diluted earnings per share growth and average return on beginning equity. Shares granted below include the number of shares assumed granted based on actual performance criteria of the 2022-2024, 2021-2023 and 2020-2022 Long-Term Incentive Plans at December 31, 2023.


Nonvested Shares	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2023	304,621	$	57.79
Granted, net	(33,137)	69.56
Vested	(107,789)	45.65
Forfeited	(7,489)	68.32
Nonvested at December 31, 2023	156,206	$	63.18

As of December 31, 2023, there was $2.1 million of total unrecognized compensation cost related to non-vested shares granted under the plan. The cost is expected to be recognized over a weighted period of 1.5 years. The total fair value of shares vested during the year ended December 31, 2023, 2022 and 2021 was $7.8 million, $4.3 million and $5.2 million, respectively. During the years ended December 31, 2023, 2022 and 2021, 107,789, 53,670 and 83,216 shares vested, respectively.

FAIR VALUE - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	$ 5,350	$ 11,992
Other real estate owned	384	100
Total assets	5,734	12,092
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	0	0
Other real estate owned	0	0
Total assets	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	0	0
Other real estate owned	0	0
Total assets	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	5,350	11,992
Other real estate owned	384	100
Total assets	5,734	12,092
Commercial and Industrial \| Working capital lines of credit loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	1,263	3,178
Commercial and Industrial \| Working capital lines of credit loans \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	0	0
Commercial and Industrial \| Working capital lines of credit loans \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	0	0
Commercial and Industrial \| Working capital lines of credit loans \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	1,263	3,178
Commercial and Industrial \| Non-working capital loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	3,374	8,354
Commercial and Industrial \| Non-working capital loans \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	0	0
Commercial and Industrial \| Non-working capital loans \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	0	0
Commercial and Industrial \| Non-working capital loans \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	3,374	8,354
Commercial Real Estate and Multi-family Residential \| Owner occupied loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	682	425
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	0	0
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	0	0
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	682	425
Agri-business and agricultural loans: \| Loans secured by farmland
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	31	35
Agri-business and agricultural loans: \| Loans secured by farmland \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	0	0
Agri-business and agricultural loans: \| Loans secured by farmland \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	0	0
Agri-business and agricultural loans: \| Loans secured by farmland \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	$ 31	$ 35

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill There have been no changes in the $5.0 million carrying amount of goodwill since 2002. Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. At December 31, 2023, the Company’s reporting unit had positive equity and the Company elected to perform a qualitative assessment to determine if it was more likely than not that the fair value of the reporting unit exceeded its carrying value, including goodwill. The qualitative assessment indicated that it was more likely than not that the fair value of the reporting unit exceeded its carrying value, resulting in no impairment. The Company’s annual impairment analysis was performed as of May 31, 2023. Circumstances did not substantially change during the second half of the year such that the Company believed it was necessary to perform an additional impairment analysis.

PENSION AND OTHER POSTRETIREMENT PLANS - Schedule of Assumptions Used in Calculating the Net Benefit Obligation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Weighted average discount rate	4.83%	5.03%	2.49%
Rate of increase in future compensation, lump sum assumed interest rates first 5 years	5.77%	5.10%	0.87%
Rate of increase in future compensation, lump sum assumed interest rates next 15 years	6.14%	5.83%	2.74%
Rate of increase in future compensation, lump sum assumed interest rates all future years	6.19%	5.68%	3.16%
Weighted average discount rate	5.03%	2.49%	2.08%
Expected long-term rate of return	6.50%	6.50%	6.50%
SERP Benefits
Defined Benefit Plan Disclosure [Line Items]
Weighted average discount rate	4.83%	5.03%	2.49%
Weighted average discount rate	5.03%	2.49%	2.08%
Expected long-term rate of return	6.50%	6.50%	6.50%

BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Short-Term Debt

The following table details outstanding fixed rate bullet advances with the Federal Home Loan Bank ("FHLB") of Indianapolis for the years ended December 31, 2023 and 2022:


(dollars in thousands)	2023		2022
Federal Home Loan Bank of Indianapolis	$	50,000	$	275,000

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 93,767	$ 103,817	$ 95,733
Change in available-for-sale and transferred securities:
Unrealized holding gain (loss) on securities available-for-sale arising during the period	40,639	(261,256)	(14,553)
Reclassification adjustment for amortization of unrealized losses on securities transferred to held-to-maturity	1,987	1,518	0
Reclassification adjustment for (gains) losses included in net income	25	(21)	(797)
Net securities gain (loss) activity during the period	42,651	(259,759)	(15,350)
Tax effect	(8,957)	54,549	3,224
Net of tax amount	33,694	(205,210)	(12,126)
Defined benefit pension plans:
Net gain (loss) on defined benefit pension plans	(13)	115	390
Amortization of net actuarial loss	59	144	242
Net gain on activity during the period	46	259	632
Tax effect	(12)	(65)	(157)
Net of tax amount	34	194	475
Total other comprehensive income (loss), net of tax	33,728	(205,016)	(11,651)
Comprehensive income (loss)	$ 127,495	$ (101,199)	$ 84,082

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest and fees on loans
Taxable	$ 304,130	$ 202,004	$ 170,081
Tax exempt	3,885	1,664	470
Interest and dividends on securities
Taxable	13,153	14,132	9,086
Tax exempt	16,396	19,553	13,033
Other interest income	5,703	2,214	549
Total interest income	343,267	239,567	193,219
Interest on deposits	137,791	36,281	14,827
Interest on borrowings
Short-term	8,441	272	7
Long-term	0	127	297
Total interest expense	146,232	36,680	15,131
NET INTEREST INCOME	197,035	202,887	178,088
Provision for credit losses	5,850	9,375	1,077
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	191,185	193,512	177,011
NONINTEREST INCOME
Wealth advisory fees	9,080	8,636	8,750
Investment brokerage fees	1,815	2,318	1,975
Service charges on deposit accounts	10,773	11,595	10,608
Loan and service fees	11,750	12,214	11,922
Merchant and interchange fee income	3,651	3,560	3,023
Bank owned life insurance income	3,133	432	2,467
Interest rate swap fee income	794	579	1,035
Mortgage banking income (loss)	(254)	633	1,418
Net securities gains (losses)	(25)	21	797
Other income	9,141	1,874	2,725
Total noninterest income	49,858	41,862	44,720
NONINTEREST EXPENSE
Salaries and employee benefits	59,147	58,530	57,882
Net occupancy expense	6,360	6,287	5,728
Equipment costs	5,632	5,763	5,530
Data processing fees and supplies	14,003	12,826	12,674
Corporate and business development	4,807	5,198	4,262
FDIC insurance and other regulatory fees	3,363	1,999	2,242
Professional fees	8,583	6,483	7,064
Wire fraud loss	18,058	0	0
Other expense	10,757	13,124	8,905
Total noninterest expense	130,710	110,210	104,287
INCOME BEFORE INCOME TAX EXPENSE	110,333	125,164	117,444
Income tax expense	16,566	21,347	21,711
NET INCOME	$ 93,767	$ 103,817	$ 95,733
BASIC WEIGHTED AVERAGE COMMON SHARES (in shares)	25,604,751	25,528,328	25,475,994
BASIC EARNINGS PER COMMON SHARE (in USD per share)	$ 3.67	$ 4.07	$ 3.76
DILUTED WEIGHTED AVERAGE COMMON SHARES (in shares)	25,723,165	25,712,538	25,620,105
DILUTED EARNINGS PER COMMON SHARE (in USD per share)	$ 3.65	$ 4.04	$ 3.74

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Maturity Analysis of the Operating Lease Liabilities

The following is a maturity analysis of the operating lease liabilities as of December 31, 2023:


Years ending December 31, (in thousands)	Operating Lease Obligation
2024	$	744
2025	756
2026	731
2027	753
2028	593
2029 and thereafter	1,591
Total undiscounted lease payments	5,168
Less imputed interest	(473)
Lease liability	$	4,695
Right-of-use asset	$	4,695

Schedule of Lease Cost


	Year Ended		Year Ended		Year Ended
	December 31, 2023		December 31, 2022		December 31, 2021
Lease cost
Operating lease cost	$	724	$	667	$	536
Short-term lease cost	18		22		24
Total lease cost	$	742	$	689	$	560


Other information
Operating cash outflows from operating leases	$	724		$	667		$	536
Weighted-average remaining lease term - operating leases	6.3			7.3			7.9
Weighted average discount rate - operating leases	2.5		%	2.5		%	2.8		%

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash and due from banks	$ 70,451	$ 80,992
Short-term investments	81,373	49,290
Total cash and cash equivalents	151,824	130,282
Securities available-for-sale, at fair value	1,051,728	1,185,528
Securities held-to-maturity, at amortized cost (fair value of $119,215 and $111,029 respectively)	129,918	128,242
Real estate mortgage loans held-for-sale	1,158	357
Loans, net of allowance for credit losses of $71,972 and $72,606	4,844,562	4,637,790
Land, premises and equipment, net	57,899	58,097
Bank owned life insurance	109,114	108,407
Federal Reserve and Federal Home Loan Bank Stock	21,420	15,795
Accrued interest receivable	30,011	27,994
Goodwill	4,970	4,970
Other assets	121,425	134,909
Total assets	6,524,029	6,432,371
LIABILITIES
Noninterest bearing deposits	1,353,477	1,736,761
Interest bearing deposits	4,367,048	3,723,859
Total deposits	5,720,525	5,460,620
Federal Funds purchased	0	22,000
Federal Home Loan Bank advances	50,000	275,000
Total borrowings	50,000	297,000
Accrued interest payable	20,893	3,186
Other liabilities	82,818	102,678
Total liabilities	5,874,236	5,863,484
Commitments, off-balance sheet risks and contingencies (Notes 1 and 17)
STOCKHOLDERS’ EQUITY
Common stock	127,692	127,004
Retained earnings	692,760	646,100
Accumulated other comprehensive income (loss)	(155,195)	(188,923)
Treasury stock, at cost (473,120 shares and 475,902 shares as of December 31, 2023 and 2022, respectively)	(15,553)	(15,383)
Total stockholders’ equity	649,704	568,798
Noncontrolling interest	89	89
Total equity	649,793	568,887
Total liabilities and equity	$ 6,524,029	$ 6,432,371

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY

12 Months Ended

Dec. 31, 2023

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY

The Company adopted ASC 326 using the modified retrospective for all financial assets measured at amortized cost. Results for reporting periods after January 1, 2021 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP.

The following table presents the activity in the allowance for credit losses by portfolio segment for the year ended December 31, 2023, 2022 and 2021:


(dollars in thousands)	Commercial and Industrial		Commercial Real Estate and Multi-family Residential		Agri-business and Agricultural		Other Commercial		Consumer 1-4 Family Mortgage		Other Consumer		Unallocated		Total
2023
Beginning balance	$	35,290	$	27,394	$	4,429	$	917	$	3,001	$	1,021	$	554	$	72,606
Provision for credit losses	1,209		3,619		(279)		212		598		673		(182)		5,850
Loans charged-off	(6,341)		0		0		0		(163)		(828)		0		(7,332)
Recoveries	180		322		0		0		38		308		0		848
Net loans (charged-off) recovered	(6,161)		322		0		0		(125)		(520)		0		(6,484)
Ending balance	$	30,338	$	31,335	$	4,150	$	1,129	$	3,474	$	1,174	$	372	$	71,972


(dollars in thousands)	Commercial and Industrial		Commercial Real Estate and Multi-family Residential		Agri-business and Agricultural		Other Commercial		Consumer 1-4 Family Mortgage		Other Consumer		Unallocated		Total
2022
Beginning balance	$	30,595	$	26,535	$	5,034	$	1,146	$	2,866	$	1,147	$	450	$	67,773
Provision for credit losses	8,646		1,179		(605)		(229)		125		155		104		9,375
Loans charged-off	(4,022)		(597)		0		0		(42)		(473)		0		(5,134)
Recoveries	71		277		0		0		52		192		0		592
Net loans (charged-off) recovered	(3,951)		(320)		0		0		10		(281)		0		(4,542)
Ending balance	$	35,290	$	27,394	$	4,429	$	917	$	3,001	$	1,021	$	554	$	72,606


(dollars in thousands)	Commercial and Industrial		Commercial Real Estate and Multi-family Residential		Agri-business and Agricultural		Other Commercial		Consumer 1-4 Family Mortgage		Other Consumer		Unallocated		Total
2021
Beginning balance	$	28,333	$	22,907	$	3,043	$	416	$	2,619	$	951	$	3,139	$	61,408
Impact of adopting ASC 326	4,312		4,316		1,060		941		953		349		(2,881)		9,050
Provision for credit losses	1,966		(632)		611		(211)		(777)		(72)		192		1,077
Loans charged-off	(5,575)		(70)		0		0		(51)		(287)		0		(5,983)
Recoveries	1,559		14		320		0		122		206		0		2,221
Net loans (charged-off) recovered	(4,016)		(56)		320		0		71		(81)		0		(3,762)
Ending balance	$	30,595	$	26,535	$	5,034	$	1,146	$	2,866	$	1,147	$	450	$	67,773

NOTE 4 – ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY (continued)

Credit Quality Indicators:

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes commercial loans individually by classifying the loans as to credit risk. This analysis is performed on a quarterly basis for Special Mention, Substandard and Doubtful grade loans and annually on Pass grade loans over $250,000.

The Company uses the following definitions for risk ratings:

Special Mention. Loans classified as Special Mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.

Substandard. Loans classified as Substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized as the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful. Loans classified as Doubtful have all the weaknesses inherent in those classified as Substandard, with the added characteristics that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

Loans are considered to be "Pass" rated when they are reviewed as part of the previously described process and do not meet the criteria above with the exception of consumer troubled debt restructurings, which are evaluated and listed with Substandard commercial grade loans and consumer nonaccrual loans which are evaluated individually and listed with “Not Rated” loans. Loans listed as Not Rated are consumer loans or commercial loans with consumer characteristics included in groups of homogenous loans which are analyzed for credit quality indicators utilizing delinquency status.

NOTE 4 – ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY (continued)

The following tables summarize the risk category of loans by loan segment and origination date as of December 31, 2023 and 2022. Balances presented are at the amortized cost basis by origination year.


(dollars in thousands)	2023		2022		2021		2020		2019		Prior		Term Total		Revolving		Total
Commercial and industrial loans:
Working capital lines of credit loans:
Pass	$	193	$	1,876	$	2,214	$	1,132	$	0	$	50	$	5,465	$	532,086	$	537,551
Special Mention	0		0		0		0		0		0		0		46,498		46,498
Substandard	0		200		0		0		125		0		325		20,516		20,841


Total	193		2,076		2,214		1,132		125		50		5,790		599,100		604,890
Working capital lines of credit loans:
Current period gross write offs	0		0		75		0		139		0		214		327		541
Non-working capital loans:
Pass	199,071		224,333		85,273		49,999		28,773		10,501		597,950		171,264		769,214
Special Mention	4,038		9,577		1,051		2,498		2,306		4,298		23,768		5,477		29,245
Substandard	3,754		1,612		683		3,892		51		218		10,210		397		10,607

Not Rated	2,585		1,999		881		707		162		18		6,352		0		6,352
Total	209,448		237,521		87,888		57,096		31,292		15,035		638,280		177,138		815,418
Non-working capital loans:
Current period gross write offs	0		5,445		0		178		129		0		5,752		48		5,800
Commercial real estate and multi-family residential loans:
Construction and land development loans:
Pass	50,693		15,558		17,655		0		177		0		84,083		547,570		631,653




Total	50,693		15,558		17,655		0		177		0		84,083		547,570		631,653
Construction and land development loans:
Current period gross write offs	0		0		0		0		0		0		0		0		0
Owner occupied loans:
Pass	144,411		132,850		156,680		132,407		61,415		118,406		746,169		40,288		786,457
Special Mention	7,597		686		4,913		0		1,394		2,245		16,835		14,739		31,574
Substandard	362		250		3,325		1,474		345		1,161		6,917		0		6,917


Total	152,370		133,786		164,918		133,881		63,154		121,812		769,921		55,027		824,948
Owner occupied loans:
Current period gross write offs	0		0		0		0		0		0		0		0		0
Nonowner occupied loans:
Pass	123,633		158,415		112,582		134,050		87,288		66,755		682,723		27,860		710,583
Special Mention	4,503		0		6,257		0		0		2,246		13,006		0		13,006



Total	128,136		158,415		118,839		134,050		87,288		69,001		695,729		27,860		723,589
Nonowner occupied loans:
Current period gross write offs	0		0		0		0		0		0		0		0		0
Multi-family loans:
Pass	90,954		23,315		9,042		35,648		13,971		14,609		187,539		45,987		233,526
Special Mention	19,671		0		0		0		0		0		19,671		0		19,671



Total	110,625		23,315		9,042		35,648		13,971		14,609		207,210		45,987		253,197
Multi-family loans:
Current period gross write offs	0		0		0		0		0		0		0		0		0
Agri-business and agricultural loans:
Loans secured by farmland:
Pass	24,503		32,060		25,308		27,924		9,104		19,160		138,059		24,724		162,783

Substandard	0		0		0		0		0		100		100		0		100


Total	24,503		32,060		25,308		27,924		9,104		19,260		138,159		24,724		162,883
Loans secured by farmland:
Current period gross write offs	0		0		0		0		0		0		0		0		0
Loans for agricultural production:
Pass	28,657		13,589		27,175		25,504		3,533		10,429		108,887		116,406		225,293
Special Mention	0		0		187		0		0		0		187		500		687



Total	28,657		13,589		27,362		25,504		3,533		10,429		109,074		116,906		225,980
Loans for agricultural production:
Current period gross write offs	0		0		0		0		0		0		0		0		0
Other commercial loans:
Pass	7,058		26,918		33,247		13,684		90		7,332		88,329		29,819		118,148
Special Mention	0		0		0		0		0		2,419		2,419		0		2,419



Total	7,058		26,918		33,247		13,684		90		9,751		90,748		29,819		120,567
Other commercial loans:
Current period gross write offs	0		0		0		0		0		0		0		0		0
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans
Pass	9,910		10,541		12,486		8,614		3,924		4,625		50,100		8,330		58,430
Special Mention	0		0		0		519		0		0		519		0		519
Substandard	87		0		96		123		0		253		559		0		559

Not Rated	64,233		51,018		38,014		17,432		4,314		23,225		198,236		0		198,236
Total	74,230		61,559		50,596		26,688		8,238		28,103		249,414		8,330		257,744
Closed end first mortgage loans
Current period gross write offs	0		0		0		0		0		0		0		0		0


NOTE 4 – ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY (continued)
Open end and junior lien loans
Pass	557		137		491		335		0		6		1,526		8,689		10,215

Substandard	108		0		23		0		26		48		205		68		273

Not Rated	24,792		29,648		8,471		1,554		2,286		1,962		68,713		112,371		181,084
Total	25,457		29,785		8,985		1,889		2,312		2,016		70,444		121,128		191,572
Open end and junior lien loans
Current period gross write offs	0		50		14		0		0		0		64		99		163
Residential construction loans




Not Rated	1,525		2,982		1,515		839		263		1,220		8,344		0		8,344
Total	1,525		2,982		1,515		839		263		1,220		8,344		0		8,344
Residential construction loans
Current period gross write offs	0		0		0		0		0		0		0		0		0
Other consumer loans
Pass	1,082		789		1,391		301		0		0		3,563		11,894		15,457

Substandard	40		34		35		0		2		0		111		0		111

Not Rated	32,481		17,585		9,994		6,008		1,611		1,957		69,636		10,545		80,181
Total	33,603		18,408		11,420		6,309		1,613		1,957		73,310		22,439		95,749
Other consumer loans
Current period gross write offs	16		258		90		8		212		1		585		243		828

Total Loans	$	846,498	$	755,972	$	558,989	$	464,644	$	221,160	$	293,243	$	3,140,506	$	1,776,028	$	4,916,534

Total current period gross write offs	$	16	$	5,753	$	179	$	186	$	480	$	1	$	6,615	$	717	$	7,332

When management determines that foreclosure is probable, expected credit losses for collateral dependent loans are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. A loan is considered collateral dependent when the borrower is experiencing financial difficulty and the loan is expected to be repaid substantially through the operation or sale of the collateral. The class of loan represents the primary collateral type associated with the loan. Significant year over year changes are reflective of changes in nonaccrual status and not necessarily associated with credit quality indicators like appraisal value.

NOTE 4 – ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY (continued)

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


(dollars in thousands)	Real Estate		General Business Assets		Other		Total
2023
Commercial and industrial loans:
Working capital lines of credit loans	$	50	$	2,454	$	0	$	2,504
Non-working capital loans	40		8,202		400		8,642
Commercial real estate and multi-family residential loans:
Owner occupied loans	595		1,474		1,161		3,230
Nonowner occupied loans	0		0		0		0
Agri-business and agricultural loans:
Loans secured by farmland	0		100		0		100
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans	559		0		0		559
Open end and junior lien loans	164		0		0		164
Other consumer loans	0		0		112		112
Total	$	1,408	$	12,230	$	1,673	$	15,311


(dollars in thousands)	Real Estate		General Business Assets		Other		Total
2022
Commercial and industrial loans:
Working capital lines of credit loans	$	50	$	5,402	$	0	$	5,452
Non-working capital loans	544		18,109		229		18,882
Commercial real estate and multi-family residential loans:
Owner occupied loans	413		1,491		1,161		3,065
Nonowner occupied loans	0		0		0		0
Agri-business and agricultural loans:
Loans secured by farmland	0		145		0		145
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans	2,030		0		0		2,030
Open end and junior lien loans	188		0		0		188
Other consumer loans	0		0		7		7
Total	$	3,225	$	25,147	$	1,397	$	29,769

NOTE 4 – ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY (continued)

Modifications Made to Borrowers Experiencing Financial Difficulty

The allowance for credit losses incorporates an estimate of lifetime expected credit losses and is recorded on each asset upon origination. The starting point to estimate such credit losses is historical loss information. The Company uses a probability of default/loss given default model to determine the allowance for credit losses recorded at origination. Occasionally, the Company subsequently modifies loans for borrowers experiencing financial distress by providing the following forms of relief: forgiveness of loan principal, extension of repayment terms, reduction of interest rate or an other than insignificant payment delay. In some instances, the Company provides multiple types of concessions for such modifications. Because the effect of most modifications to borrowers experiencing financial difficulty is already included in the allowance for credit losses, no change to the allowance for credit losses is generally recorded for these modifications.

The following tables present the amortized cost basis at the end of the reporting period of loans that were experiencing financial difficulty and received a modification of terms during the twelve months ended December 31, 2023, by class and type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivables at the end of the reporting period is also presented below:


(dollars in thousands)	Interest Rate Reduction		Combination Interest Rate Reduction and Term Extension		Combination Principal Forgiveness, Interest Rate Reduction, Term Extension and Payment Delay		Total Modifications		Total Class of Financing Receivable
Twelve Months Ended December 31, 2023
Commercial and industrial loans:
Working capital lines of credit loans	$	1,912	$	944	$	0	$	2,856	0.47	%
Non-working capital loans	0		0		1,572		1,572		0.19
Total commercial and industrial loans	1,912		944		1,572		4,428		0.31























Total loan modifications made to borrowers experiencing financial difficulty	$	1,912	$	944	$	1,572	$	4,428	0.09	%

The Company has no material commitments to lend additional funds to borrowers included in the previous table.

NOTE 4 – ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY (continued)

The following table presents the financial effect of the loan modifications presented above for borrowers experiencing financial difficulty for the twelve months ended December 31, 2023:

(dollars in thousands)

Principal Forgiveness

Interest Rate Reduction

Term Extension

Payment Delay

Total Class of Financing Receivable

Twelve Months Ended December 31, 2023

Commercial and industrial loans:

Working capital lines of credit loans

Reduction of two variable Prime Rate lines of credit to 1.00% Fixed

Reduction of one variable line of credit from Prime plus 1.00% to 1.00% Fixed

Term extension for one variable rate line of credit from 12 months to 120 months

None

0.47

Non-working capital loans (1)

9,380

Reduction of one term loan from Prime plus 0.75% to 1.00% Fixed

Term extension from 40 months to 60 months

Extension of amortization period from 40 months to 480 months with excess cash flow recapture provisions for earlier repayment

0.19

(1) Represents one $11.0 million non-working capital loan that received principal forgiveness of $9.4 million, of which $3.7 million and $5.6 million was charged off during the twelve months ended December 31, 2023 and 2022, respectively.

During the twelve months ended December 31, 2022, no modifications were made to loans for borrowers experiencing financial difficulty.

The company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. At December 31, 2023, no loans receiving such a modification within the last twelve months were 30 days or greater past due.

At December 31, 2023, no loans receiving a modification due to borrower financial difficulty within the last twelve months has experienced a payment default.

Upon the Company's determination that a modified loan (or portion thereof) has subsequently been deemed uncollectible, the loan (or a portion thereof) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount.

INCOME TAXES

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

Income tax expense for the years ended December 31, 2023, 2022 and 2021 consisted of the following:


(dollars in thousands)	2023		2022		2021
Current federal	$	16,171	$	22,825	$	21,329
Deferred federal	1,302		(2,327)		(1,249)

Current state	(131)		1,297		1,892
Deferred state	(776)		(448)		(261)
Total income tax expense	$	16,566	$	21,347	$	21,711

The differences between financial statement tax expense and amounts computed by applying the statutory federal income tax rate of 21% to income before income taxes were as follows:


(dollars in thousands)	2023		2022		2021
Income taxes at statutory federal rate of 21%	$	23,170	$	26,284	$	24,663
Increase (decrease) in taxes resulting from:
Tax exempt income	(4,226)		(4,438)		(2,822)
Nondeductible expense	269		159		116
State income tax, net of federal tax effect	(716)		671		1,288
Captive insurance premium income	(261)		(417)		(303)
Tax credits	(713)		(586)		(578)
Bank owned life insurance	(658)		(78)		(596)
Long-term incentive plan and deferred compensation	(715)		(530)		(274)
Nondeductible compensation expense	784		181		156
Other	(368)		101		61
Total income tax expense	$	16,566	$	21,347	$	21,711

NOTE 12 – INCOME TAXES (continued)

The net deferred tax asset recorded in the consolidated balance sheets at December 31, 2023 and 2022 consisted of the following:


(dollars in thousands)	2023		2022
Deferred tax assets:
Bad debts	$	18,384	$	18,561
Pension and deferred compensation liability	1,823		2,272
Nonaccrual loan interest	494		256
Long-term incentive plan	2,342		2,894
Lease liability	1,199		1,354
Deferred loan fees	781		572
Accrued legal reserve	635		819
Net operating loss carryforward	913		0
Other	591		1,130
	27,162		27,858
Deferred tax liabilities:
Depreciation	3,645		4,257
Loan servicing rights	570		694
State taxes	949		786
Intangible assets	1,270		1,270
REIT spillover dividend	2,140		1,290
Prepaid expenses	801		988
Lease right of use	1,199		1,354
Other	480		585
	11,054		11,224
Valuation allowance	0		0
Net deferred tax asset	$	16,108	$	16,634

At December 31, 2023, the Company has Indiana net operating loss carryforwards of approximately $20.0 million that will expire in 2038 if not used. Management has concluded that the state net operating losses will be fully utilized and therefore no valuation allowance is necessary on the state net operating loss.

In addition to the net deferred tax assets included above, the deferred income tax asset (liability) allocated to the unrealized net gain (loss) on securities available-for-sale included in equity was $41.1 million and $50.0 million for 2023 and 2022, respectively. The deferred income tax asset allocated to the pension plan and SERP included in equity was $243,000 and $255,000 for 2023 and 2022, respectively.

The Company evaluated its deferred tax asset at year end 2023 and has concluded that it is more likely than not that it will be realized. The Company expects to have taxable income in the future such that the deferred tax asset will be realized. Therefore, no valuation allowance is required.

Unrecognized Tax Benefits

The Company did not have any unrecognized tax benefits at December 31, 2023 or 2022. The Company does not expect the total amount of unrecognized tax benefits to significantly increase or decrease in the next twelve months.

No interest or penalties were recorded in the income statement and no amount was accrued for interest and penalties for the periods ending December 31, 2023, 2022 and 2021. Should the accrual of any interest or penalties relative to unrecognized tax benefits be necessary, it is the Company’s policy to record such accruals in its income taxes accounts.

The Company and its subsidiaries file a consolidated U.S. federal tax return and a combined unitary return in the States of Indiana and Michigan. These returns are subject to examinations by authorities for all years after 2019.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Post adoption of ASC 326
Beginning balance	$ 72,606	$ 67,773	$ 61,408
Provision for credit losses	5,850	9,375	1,077
Loans charged-off	(7,332)	(5,134)	(5,983)
Recoveries	848	592	2,221
Net loans (charged-off) recovered	(6,484)	(4,542)	(3,762)
Ending balance	71,972	72,606	67,773
Cumulative Effect, Period of Adoption, Adjustment
Post adoption of ASC 326
Beginning balance			9,050
Commercial and Industrial \| Total commercial loans
Post adoption of ASC 326
Beginning balance	35,290	30,595	28,333
Provision for credit losses	1,209	8,646	1,966
Loans charged-off	(6,341)	(4,022)	(5,575)
Recoveries	180	71	1,559
Net loans (charged-off) recovered	(6,161)	(3,951)	(4,016)
Ending balance	30,338	35,290	30,595
Commercial and Industrial \| Total commercial loans \| Cumulative Effect, Period of Adoption, Adjustment
Post adoption of ASC 326
Beginning balance			4,312
Commercial Real Estate and Multi-family Residential \| Total commercial loans
Post adoption of ASC 326
Beginning balance	27,394	26,535	22,907
Provision for credit losses	3,619	1,179	(632)
Loans charged-off	0	(597)	(70)
Recoveries	322	277	14
Net loans (charged-off) recovered	322	(320)	(56)
Ending balance	31,335	27,394	26,535
Commercial Real Estate and Multi-family Residential \| Total commercial loans \| Cumulative Effect, Period of Adoption, Adjustment
Post adoption of ASC 326
Beginning balance			4,316
Agri-business and Agricultural \| Total commercial loans
Post adoption of ASC 326
Beginning balance	4,429	5,034	3,043
Provision for credit losses	(279)	(605)	611
Loans charged-off	0	0	0
Recoveries	0	0	320
Net loans (charged-off) recovered	0	0	320
Ending balance	4,150	4,429	5,034
Agri-business and Agricultural \| Total commercial loans \| Cumulative Effect, Period of Adoption, Adjustment
Post adoption of ASC 326
Beginning balance			1,060
Other Commercial \| Total commercial loans
Post adoption of ASC 326
Beginning balance	917	1,146	416
Provision for credit losses	212	(229)	(211)
Loans charged-off	0	0	0
Recoveries	0	0	0
Net loans (charged-off) recovered	0	0	0
Ending balance	1,129	917	1,146
Other Commercial \| Total commercial loans \| Cumulative Effect, Period of Adoption, Adjustment
Post adoption of ASC 326
Beginning balance			941
Consumer 1-4 Family Mortgage \| Other consumer loans
Post adoption of ASC 326
Beginning balance	3,001	2,866	2,619
Provision for credit losses	598	125	(777)
Loans charged-off	(163)	(42)	(51)
Recoveries	38	52	122
Net loans (charged-off) recovered	(125)	10	71
Ending balance	3,474	3,001	2,866
Consumer 1-4 Family Mortgage \| Other consumer loans \| Cumulative Effect, Period of Adoption, Adjustment
Post adoption of ASC 326
Beginning balance			953
Other Consumer \| Other consumer loans
Post adoption of ASC 326
Beginning balance	1,021	1,147	951
Provision for credit losses	673	155	(72)
Loans charged-off	(828)	(473)	(287)
Recoveries	308	192	206
Net loans (charged-off) recovered	(520)	(281)	(81)
Ending balance	1,174	1,021	1,147
Other Consumer \| Other consumer loans \| Cumulative Effect, Period of Adoption, Adjustment
Post adoption of ASC 326
Beginning balance			349
Unallocated
Post adoption of ASC 326
Beginning balance	554	450	3,139
Provision for credit losses	(182)	104	192
Loans charged-off	0	0	0
Recoveries	0	0	0
Net loans (charged-off) recovered	0	0	0
Ending balance	$ 372	$ 554	450
Unallocated \| Cumulative Effect, Period of Adoption, Adjustment
Post adoption of ASC 326
Beginning balance			$ (2,881)

LEASES - Maturity Analysis (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2024	$ 744
2025	756
2026	731
2027	753
2028	593
2029 and thereafter	1,591
Total undiscounted lease payments	5,168
Less imputed interest	(473)
Lease liability	4,695
Right-of-use asset	$ 4,695
Operating lease liability, location	Other liabilities
Operating lease right-of-use asset, location	Other Assets

OFFSETTING ASSETS AND LIABILITIES - Schedule of Offsetting of Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Gross Amounts of Recognized Assets/ Liabilities	$ 27,189	$ 36,920
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts presented in the Statement of Financial Position	27,189	36,920
Gross amounts not offset in the statement of financial position, financial instruments	0	0
Gross amounts not offset in the statement of financial position, cash collateral position	(25,555)	(34,185)
Net Amount	1,634	2,735
Liabilities
Gross Amounts of Recognized Assets/ Liabilities	27,190	36,921
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts presented in the Statement of Financial Position	27,190	36,921
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Position	(90)	(90)
Net Amount	27,100	36,831
Interest Rate Swap
Assets
Gross Amounts of Recognized Assets/ Liabilities	27,189	36,920
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts presented in the Statement of Financial Position	27,189	36,920
Gross amounts not offset in the statement of financial position, financial instruments	0	0
Gross amounts not offset in the statement of financial position, cash collateral position	(25,555)	(34,185)
Net Amount	1,634	2,735
Liabilities
Gross Amounts of Recognized Assets/ Liabilities	27,190	36,921
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts presented in the Statement of Financial Position	27,190	36,921
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments	0	0
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Position	(90)	(90)
Net Amount	$ 27,100	$ 36,831

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2023	Feb. 13, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	0-11487
Entity Registrant Name	LAKELAND FINANCIAL CORPORATION
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	35-1559596
Entity Address, Address Line One	202 East Center Street
Entity Address, Address Line Two	P.O. Box 1387
Entity Address, City or Town	Warsaw
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46581
City Area Code	574
Local Phone Number	267-6144
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	LKFN
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 1,189,039,708
Entity Common Stock, Shares Outstanding		25,505,987
Documents Incorporated by Reference	Part III - Portions of the Proxy Statement for the Annual Meeting of Shareholders to be held on April 9, 2024 are incorporated by reference into Part III hereof.
Entity Central Index Key	0000721994
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

RELATED PARTY TRANSACTIONS - Summary of Loans To Related Party (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Loans and Leases Receivable, Related Parties [Roll Forward]
Beginning balance	$ 113,435	$ 99,865
New loans and advances	69,822	54,085
Effect of changes in related parties	230	(10,463)
Repayments and renewals	(51,006)	(30,052)
Ending balance	$ 132,481	$ 113,435

SECURITIES - Quantitative Disclosure of Available For Sale of Securities (Details) - position	Dec. 31, 2023	Dec. 31, 2022
Number of securities with unrealized losses [Abstract]
Less than 12 months	41	372
12 months or more	513	280
Total	554	652
U.S. Treasury securities
Number of securities with unrealized losses [Abstract]
Less than 12 months		7
12 months or more		0
Total		7
U.S. government sponsored agencies
Number of securities with unrealized losses [Abstract]
Less than 12 months	0	1
12 months or more	17	16
Total	17	17
Mortgage-backed securities: residential
Number of securities with unrealized losses [Abstract]
Less than 12 months	1	95
12 months or more	126	41
Total	127	136
State and municipal securities
Number of securities with unrealized losses [Abstract]
Less than 12 months	40	269
12 months or more	370	223
Total	410	492

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Risk Category of Loans by Loan Segment and Origination (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	$ 846,498	$ 911,943
Year Two	755,972	653,839
Year Three	558,989	552,202
Year Four	464,644	310,151
Year Five	221,160	126,843
Prior	293,243	297,056
Term Total	3,140,506	2,852,034
Revolving	1,776,028	1,858,362
Gross loans	4,916,534	4,710,396
Year One	16
Year Two	5,753
Year Three	179
Year Four	186
Year Five	480
Prior	1
Term Total	6,615
Revolving	717
Total	7,332	5,134	$ 5,983
Working capital lines of credit loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0
Year Two	0
Year Three	75
Year Four	0
Year Five	139
Prior	0
Term Total	214
Revolving	327
Total	541
Non-working capital loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0
Year Two	5,445
Year Three	0
Year Four	178
Year Five	129
Prior	0
Term Total	5,752
Revolving	48
Total	5,800
Construction and land development loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0
Year Two	0
Year Three	0
Year Four	0
Year Five	0
Prior	0
Term Total	0
Revolving	0
Total	0
Owner occupied loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0
Year Two	0
Year Three	0
Year Four	0
Year Five	0
Prior	0
Term Total	0
Revolving	0
Total	0
Nonowner occupied loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0
Year Two	0
Year Three	0
Year Four	0
Year Five	0
Prior	0
Term Total	0
Revolving	0
Total	0
Multi-family loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0
Year Two	0
Year Three	0
Year Four	0
Year Five	0
Prior	0
Term Total	0
Revolving	0
Total	0
Loans secured by farmland
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0
Year Two	0
Year Three	0
Year Four	0
Year Five	0
Prior	0
Term Total	0
Revolving	0
Total	0
Loans for agricultural production
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0
Year Two	0
Year Three	0
Year Four	0
Year Five	0
Prior	0
Term Total	0
Revolving	0
Total	0
Other commercial loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0
Year Two	0
Year Three	0
Year Four	0
Year Five	0
Prior	0
Term Total	0
Revolving	0
Total	0
Closed end first mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0
Year Two	0
Year Three	0
Year Four	0
Year Five	0
Prior	0
Term Total	0
Revolving	0
Total	0
Open end and junior lien loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0
Year Two	50
Year Three	14
Year Four	0
Year Five	0
Prior	0
Term Total	64
Revolving	99
Total	163
Residential construction loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0
Year Two	0
Year Three	0
Year Four	0
Year Five	0
Prior	0
Term Total	0
Revolving	0
Total	0
Other consumer loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	16
Year Two	258
Year Three	90
Year Four	8
Year Five	212
Prior	1
Term Total	585
Revolving	243
Total	828
Commercial and Industrial \| Working capital lines of credit loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	193	2,407
Year Two	2,076	2,718
Year Three	2,214	1,601
Year Four	1,132	300
Year Five	125	0
Prior	50	0
Term Total	5,790	7,026
Revolving	599,100	644,013
Gross loans	604,890	651,039
Commercial and Industrial \| Working capital lines of credit loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	193	2,207
Year Two	1,876	2,718
Year Three	2,214	1,601
Year Four	1,132	0
Year Five	0	0
Prior	50	0
Term Total	5,465	6,526
Revolving	532,086	597,108
Gross loans	537,551	603,634
Commercial and Industrial \| Working capital lines of credit loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0	0
Year Two	0	0
Year Three	0	0
Year Four	0	0
Year Five	0	0
Prior	0	0
Term Total	0	0
Revolving	46,498	36,410
Gross loans	46,498	36,410
Commercial and Industrial \| Working capital lines of credit loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0	200
Year Two	200	0
Year Three	0	0
Year Four	0	300
Year Five	125	0
Prior	0	0
Term Total	325	500
Revolving	20,516	10,495
Gross loans	20,841	10,995
Commercial and Industrial \| Non-working capital loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	209,448	287,443
Year Two	237,521	128,642
Year Three	87,888	98,125
Year Four	57,096	48,427
Year Five	31,292	11,611
Prior	15,035	20,633
Term Total	638,280	594,881
Revolving	177,138	246,814
Gross loans	815,418	841,695
Commercial and Industrial \| Non-working capital loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	199,071	272,273
Year Two	224,333	124,600
Year Three	85,273	91,850
Year Four	49,999	47,711
Year Five	28,773	9,981
Prior	10,501	13,670
Term Total	597,950	560,085
Revolving	171,264	240,490
Gross loans	769,214	800,575
Commercial and Industrial \| Non-working capital loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	4,038	448
Year Two	9,577	1,620
Year Three	1,051	0
Year Four	2,498	109
Year Five	2,306	159
Prior	4,298	2,961
Term Total	23,768	5,297
Revolving	5,477	2,153
Gross loans	29,245	7,450
Commercial and Industrial \| Non-working capital loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	3,754	11,831
Year Two	1,612	872
Year Three	683	5,021
Year Four	3,892	194
Year Five	51	1,351
Prior	218	3,979
Term Total	10,210	23,248
Revolving	397	4,171
Gross loans	10,607	27,419
Commercial and Industrial \| Non-working capital loans \| Not Rated
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	2,585	2,891
Year Two	1,999	1,550
Year Three	881	1,254
Year Four	707	413
Year Five	162	120
Prior	18	23
Term Total	6,352	6,251
Revolving	0	0
Gross loans	6,352	6,251
Commercial Real Estate and Multi-family Residential \| Construction and land development loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	50,693	26,889
Year Two	15,558	19,944
Year Three	17,655	14,026
Year Four	0	356
Year Five	177	0
Prior	0	0
Term Total	84,083	61,215
Revolving	547,570	453,953
Gross loans	631,653	515,168
Commercial Real Estate and Multi-family Residential \| Construction and land development loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	50,693	26,889
Year Two	15,558	19,944
Year Three	17,655	14,026
Year Four	0	356
Year Five	177	0
Prior	0	0
Term Total	84,083	61,215
Revolving	547,570	453,953
Gross loans	631,653	515,168
Commercial Real Estate and Multi-family Residential \| Owner occupied loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	152,370	116,924
Year Two	133,786	186,727
Year Three	164,918	141,371
Year Four	133,881	98,172
Year Five	63,154	68,171
Prior	121,812	105,618
Term Total	769,921	716,983
Revolving	55,027	40,533
Gross loans	824,948	757,516
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	144,411	113,656
Year Two	132,850	179,014
Year Three	156,680	139,880
Year Four	132,407	97,353
Year Five	61,415	65,519
Prior	118,406	97,335
Term Total	746,169	692,757
Revolving	40,288	40,533
Gross loans	786,457	733,290
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	7,597	2,960
Year Two	686	7,608
Year Three	4,913	0
Year Four	0	446
Year Five	1,394	1,491
Prior	2,245	8,054
Term Total	16,835	20,559
Revolving	14,739	0
Gross loans	31,574	20,559
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	362	308
Year Two	250	105
Year Three	3,325	1,491
Year Four	1,474	373
Year Five	345	1,161
Prior	1,161	229
Term Total	6,917	3,667
Revolving	0	0
Gross loans	6,917	3,667
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	128,136	194,294
Year Two	158,415	136,214
Year Three	118,839	134,661
Year Four	134,050	91,907
Year Five	87,288	15,109
Prior	69,001	64,874
Term Total	695,729	637,059
Revolving	27,860	68,603
Gross loans	723,589	705,662
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	123,633	194,294
Year Two	158,415	125,190
Year Three	112,582	134,661
Year Four	134,050	91,907
Year Five	87,288	15,109
Prior	66,755	64,874
Term Total	682,723	626,035
Revolving	27,860	68,603
Gross loans	710,583	694,638
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	4,503	0
Year Two	0	11,024
Year Three	6,257	0
Year Four	0	0
Year Five	0	0
Prior	2,246	0
Term Total	13,006	11,024
Revolving	0	0
Gross loans	13,006	11,024
Commercial Real Estate and Multi-family Residential \| Multi-family loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	110,625	60,315
Year Two	23,315	25,741
Year Three	9,042	36,929
Year Four	35,648	35,695
Year Five	13,971	2,046
Prior	14,609	28,866
Term Total	207,210	189,592
Revolving	45,987	7,349
Gross loans	253,197	196,941
Commercial Real Estate and Multi-family Residential \| Multi-family loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	90,954	38,460
Year Two	23,315	25,741
Year Three	9,042	36,929
Year Four	35,648	35,695
Year Five	13,971	2,046
Prior	14,609	28,866
Term Total	187,539	167,737
Revolving	45,987	7,349
Gross loans	233,526	175,086
Commercial Real Estate and Multi-family Residential \| Multi-family loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	19,671	21,855
Year Two	0	0
Year Three	0	0
Year Four	0	0
Year Five	0	0
Prior	0	0
Term Total	19,671	21,855
Revolving	0	0
Gross loans	19,671	21,855
Agri-business and Agricultural \| Loans secured by farmland
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	24,503	38,604
Year Two	32,060	28,684
Year Three	25,308	31,417
Year Four	27,924	11,436
Year Five	9,104	8,145
Prior	19,260	19,798
Term Total	138,159	138,084
Revolving	24,724	63,094
Gross loans	162,883	201,178
Agri-business and Agricultural \| Loans secured by farmland \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	24,503	38,344
Year Two	32,060	28,684
Year Three	25,308	29,741
Year Four	27,924	9,656
Year Five	9,104	8,145
Prior	19,160	19,638
Term Total	138,059	134,208
Revolving	24,724	63,094
Gross loans	162,783	197,302
Agri-business and Agricultural \| Loans secured by farmland \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year One		260
Year Two		0
Year Three		1,676
Year Four		1,780
Year Five		0
Prior		15
Term Total		3,731
Revolving		0
Gross loans		3,731
Agri-business and Agricultural \| Loans secured by farmland \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0	0
Year Two	0	0
Year Three	0	0
Year Four	0	0
Year Five	0	0
Prior	100	145
Term Total	100	145
Revolving	0	0
Gross loans	100	145
Agri-business and Agricultural \| Loans for agricultural production
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	28,657	6,987
Year Two	13,589	30,505
Year Three	27,362	29,429
Year Four	25,504	4,553
Year Five	3,533	9,248
Prior	10,429	4,539
Term Total	109,074	85,261
Revolving	116,906	145,728
Gross loans	225,980	230,989
Agri-business and Agricultural \| Loans for agricultural production \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	28,657	6,040
Year Two	13,589	30,262
Year Three	27,175	22,167
Year Four	25,504	3,625
Year Five	3,533	9,248
Prior	10,429	4,539
Term Total	108,887	75,881
Revolving	116,406	143,599
Gross loans	225,293	219,480
Agri-business and Agricultural \| Loans for agricultural production \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0	947
Year Two	0	243
Year Three	187	7,262
Year Four	0	928
Year Five	0	0
Prior	0	0
Term Total	187	9,380
Revolving	500	2,129
Gross loans	687	11,509
Agri-business and Agricultural \| Closed end first mortgage loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year One		0
Year Two		0
Year Three		552
Year Four		0
Year Five		0
Prior		0
Term Total		552
Revolving		0
Gross loans		552
Other commercial loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	7,058	27,097
Year Two	26,918	4,815
Year Three	33,247	17,911
Year Four	13,684	147
Year Five	90	931
Prior	9,751	14,145
Term Total	90,748	65,046
Revolving	29,819	48,295
Gross loans	120,567	113,341
Other commercial loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	7,058	27,097
Year Two	26,918	4,815
Year Three	33,247	17,911
Year Four	13,684	147
Year Five	90	931
Prior	7,332	10,985
Term Total	88,329	61,886
Revolving	29,819	48,295
Gross loans	118,148	110,181
Other commercial loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0	0
Year Two	0	0
Year Three	0	0
Year Four	0	0
Year Five	0	0
Prior	2,419	3,160
Term Total	2,419	3,160
Revolving	0	0
Gross loans	2,419	3,160
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	74,230	66,172
Year Two	61,559	57,140
Year Three	50,596	32,864
Year Four	26,688	10,741
Year Five	8,238	7,098
Prior	28,103	32,808
Term Total	249,414	206,823
Revolving	8,330	5,634
Gross loans	257,744	212,457
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	9,910	8,768
Year Two	10,541	12,809
Year Three	12,486	12,289
Year Four	8,614	4,805
Year Five	3,924	4,045
Prior	4,625	3,860
Term Total	50,100	46,576
Revolving	8,330	5,634
Gross loans	58,430	52,210
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	0
Year Two	0
Year Three	0
Year Four	519
Year Five	0
Prior	0
Term Total	519
Revolving	0
Gross loans	519
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	87	0
Year Two	0	0
Year Three	96	0
Year Four	123	0
Year Five	0	83
Prior	253	1,944
Term Total	559	2,027
Revolving	0	0
Gross loans	559	2,027
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Not Rated
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	64,233	57,404
Year Two	51,018	44,331
Year Three	38,014	20,023
Year Four	17,432	5,936
Year Five	4,314	2,970
Prior	23,225	27,004
Term Total	198,236	157,668
Revolving	0	0
Gross loans	198,236	157,668
Consumer 1-4 Family Mortgage \| Open end and junior lien loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	25,457	44,609
Year Two	29,785	14,138
Year Three	8,985	3,371
Year Four	1,889	3,710
Year Five	2,312	1,600
Prior	2,016	2,252
Term Total	70,444	69,680
Revolving	121,128	107,702
Gross loans	191,572	177,382
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	557	137
Year Two	137	541
Year Three	491	357
Year Four	335	63
Year Five	0	75
Prior	6	0
Term Total	1,526	1,173
Revolving	8,689	5,841
Gross loans	10,215	7,014
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	108	0
Year Two	0	0
Year Three	23	0
Year Four	0	31
Year Five	26	49
Prior	48	0
Term Total	205	80
Revolving	68	111
Gross loans	273	191
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| Not Rated
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	24,792	44,472
Year Two	29,648	13,597
Year Three	8,471	3,014
Year Four	1,554	3,616
Year Five	2,286	1,476
Prior	1,962	2,252
Term Total	68,713	68,427
Revolving	112,371	101,750
Gross loans	181,084	170,177
Consumer 1-4 Family Mortgage \| Residential construction loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	1,525	14,463
Year Two	2,982	2,167
Year Three	1,515	897
Year Four	839	291
Year Five	263	129
Prior	1,220	1,223
Term Total	8,344	19,170
Revolving	0	0
Gross loans	8,344	19,170
Consumer 1-4 Family Mortgage \| Residential construction loans \| Not Rated
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	1,525	14,463
Year Two	2,982	2,167
Year Three	1,515	897
Year Four	839	291
Year Five	263	129
Prior	1,220	1,223
Term Total	8,344	19,170
Revolving	0	0
Gross loans	8,344	19,170
Consumer 1-4 Family Mortgage \| Other consumer loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	33,603	25,739
Year Two	18,408	16,404
Year Three	11,420	9,600
Year Four	6,309	4,416
Year Five	1,613	2,755
Prior	1,957	2,300
Term Total	73,310	61,214
Revolving	22,439	26,644
Gross loans	95,749	87,858
Consumer 1-4 Family Mortgage \| Other consumer loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	1,082	1,344
Year Two	789	1,841
Year Three	1,391	432
Year Four	301	600
Year Five	0	0
Prior	0	948
Term Total	3,563	5,165
Revolving	11,894	16,152
Gross loans	15,457	21,317
Consumer 1-4 Family Mortgage \| Other consumer loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	40	0
Year Two	34	0
Year Three	35	0
Year Four	0	210
Year Five	2	0
Prior	0	0
Term Total	111	210
Revolving	0	0
Gross loans	111	210
Consumer 1-4 Family Mortgage \| Other consumer loans \| Not Rated
Financing Receivable, Credit Quality Indicator [Line Items]
Year One	32,481	24,395
Year Two	17,585	14,563
Year Three	9,994	9,168
Year Four	6,008	3,606
Year Five	1,611	2,755
Prior	1,957	1,352
Term Total	69,636	55,839
Revolving	10,545	10,492
Gross loans	$ 80,181	$ 66,331

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

Income tax expense for the years ended December 31, 2023, 2022 and 2021 consisted of the following:


(dollars in thousands)	2023		2022		2021
Current federal	$	16,171	$	22,825	$	21,329
Deferred federal	1,302		(2,327)		(1,249)

Current state	(131)		1,297		1,892
Deferred state	(776)		(448)		(261)
Total income tax expense	$	16,566	$	21,347	$	21,711

Schedule of Differences In Taxes From Continuing Operations

The differences between financial statement tax expense and amounts computed by applying the statutory federal income tax rate of 21% to income before income taxes were as follows:


(dollars in thousands)	2023		2022		2021
Income taxes at statutory federal rate of 21%	$	23,170	$	26,284	$	24,663
Increase (decrease) in taxes resulting from:
Tax exempt income	(4,226)		(4,438)		(2,822)
Nondeductible expense	269		159		116
State income tax, net of federal tax effect	(716)		671		1,288
Captive insurance premium income	(261)		(417)		(303)
Tax credits	(713)		(586)		(578)
Bank owned life insurance	(658)		(78)		(596)
Long-term incentive plan and deferred compensation	(715)		(530)		(274)
Nondeductible compensation expense	784		181		156
Other	(368)		101		61
Total income tax expense	$	16,566	$	21,347	$	21,711

Schedule of Deferred Tax Assets and Liabilities

The net deferred tax asset recorded in the consolidated balance sheets at December 31, 2023 and 2022 consisted of the following:


(dollars in thousands)	2023		2022
Deferred tax assets:
Bad debts	$	18,384	$	18,561
Pension and deferred compensation liability	1,823		2,272
Nonaccrual loan interest	494		256
Long-term incentive plan	2,342		2,894
Lease liability	1,199		1,354
Deferred loan fees	781		572
Accrued legal reserve	635		819
Net operating loss carryforward	913		0
Other	591		1,130
	27,162		27,858
Deferred tax liabilities:
Depreciation	3,645		4,257
Loan servicing rights	570		694
State taxes	949		786
Intangible assets	1,270		1,270
REIT spillover dividend	2,140		1,290
Prepaid expenses	801		988
Lease right of use	1,199		1,354
Other	480		585
	11,054		11,224
Valuation allowance	0		0
Net deferred tax asset	$	16,108	$	16,634

LAND, PREMISES AND EQUIPMENT, NET - Summary of Land, Premises And Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Land	$ 12,472	$ 12,472
Premises and improvements	63,862	61,185
Equipment and furniture	37,483	37,460
Total cost	113,817	111,117
Less accumulated depreciation	55,918	53,020
Land, premises and equipment, net	$ 57,899	$ 58,097

PENSION AND OTHER POSTRETIREMENT PLANS - Schedule of Amounts Recognized in Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Funded status included in other liabilities	$ 338	$ 274
SERP Benefits
Defined Benefit Plan Disclosure [Line Items]
Funded status included in other liabilities	$ (147)	$ (94)

SELECTED QUARTERLY DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2023

Selected Quarterly Financial Information [Abstract]

SELECTED QUARTERLY DATA (UNAUDITED)

SELECTED QUARTERLY DATA (UNAUDITED) (in thousands except per share data)


2023	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Interest income	$	90,942	$	88,623	$	84,482	$	79,220
Interest expense	42,343		40,230		35,958		27,701
Net interest income	48,599		48,393		48,524		51,519
Provision for credit losses	300		400		800		4,350
Net interest income after provision	48,299		47,993		47,724		47,169
Noninterest income	17,208		10,835		11,501		10,314
Noninterest expense	29,445		29,097		42,734		29,434
Income tax expense	6,436		4,479		1,880		3,771
Net income	$	29,626	$	25,252	$	14,611	$	24,278

Basic earnings per common share	$	1.16	$	0.99	$	0.57	$	0.95
Diluted earnings per common share	$	1.16	$	0.98	$	0.57	$	0.94


2022	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Interest income	$	75,353	$	62,558	$	53,622	$	48,034
Interest expense	18,516		10,066		4,944		3,154
Net interest income	56,837		52,492		48,678		44,880
Provision for credit losses	8,958		0		0		417
Net interest income after provision	47,879		52,492		48,678		44,463
Noninterest income	10,519		10,164		10,492		10,687
Noninterest expense	27,434		27,894		27,913		26,969
Income tax expense	4,987		6,237		5,584		4,539
Net income	$	25,977	$	28,525	$	25,673	$	23,642

Basic earnings per common share	$	1.02	$	1.12	$	1.00	$	0.93
Diluted earnings per common share	$	1.01	$	1.11	$	1.00	$	0.92

CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS - Summary Of Capital Adequacy Requirements (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Consolidated
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital (to Risk Weighted Assets), Actual Amount	$ 870,390	$ 821,008
Total Capital (to Risk Weighted Assets), Actual Ratio	0.1547	0.1507
Tier I Capital (to Risk Weighted Assets), Actual Amount	$ 799,929	$ 752,751
Tier I Capital (to Risk Weighted Assets), Actual Ratio	0.1421	0.1382
Common Equity Tier 1 (CET1), Actual Amount	$ 799,929	$ 752,751
Common Equity Tier 1 (CET1), Actual Ratio	14.21%	13.82%
Tier I Capital (to Average Assets), Actual Amount	$ 799,929	$ 752,751
Tier I Capital (to Average Assets), Actual Ratio	0.1182	0.1150
Total Capital (to Risk Weighted Assets), Minimum Required For Capital Adequacy Purposes Amount	$ 450,211	$ 435,786
Total Capital (to Risk Weighted Assets), Minimum Required For Capital Adequacy Purposes Ratio	0.0800	0.0800
Tier I Capital (to Risk Weighted Assets), Minimum Required For Capital Adequacy Purposes Amount	$ 337,658	$ 326,840
Tier I Capital (to Risk Weighted Assets), Minimum Required For Capital Adequacy Purposes Ratio	0.0600	0.0600
Common Equity Tier 1 (CET1), Minimum Required For Capital Adequacy Purposes Amount	$ 253,243	$ 245,130
Common Equity Tier 1 (CET1), Minimum Required For Capital Adequacy Purposes Ratio	4.50%	4.50%
Tier I Capital (to Average Assets), Minimum Required For Capital Adequacy Purposes Amount	$ 270,636	$ 261,859
Tier I Capital (to Average Assets), Minimum Required For Capital Adequacy Purposes Ratio	0.0400	0.0400
Excess Capital, For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	$ 590,901	$ 571,969
Tier I Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	478,349	463,023
Common Equity Tier 1 (CET1), For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	393,934	381,313
Tier I Capital (to Average Assets), For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	270,636	261,859
Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital (to Risk Weighted Assets), Actual Amount	$ 852,405	$ 801,044
Total Capital (to Risk Weighted Assets), Actual Ratio	0.1516	0.1474
Tier I Capital (to Risk Weighted Assets), Actual Amount	$ 781,999	$ 732,966
Tier I Capital (to Risk Weighted Assets), Actual Ratio	0.1391	0.1349
Common Equity Tier 1 (CET1), Actual Amount	$ 781,999	$ 732,966
Common Equity Tier 1 (CET1), Actual Ratio	13.91%	13.49%
Tier I Capital (to Average Assets), Actual Amount	$ 781,999	$ 732,966
Tier I Capital (to Average Assets), Actual Ratio	0.1158	0.1122
Total Capital (to Risk Weighted Assets), Minimum Required For Capital Adequacy Purposes Amount	$ 449,894	$ 434,758
Total Capital (to Risk Weighted Assets), Minimum Required For Capital Adequacy Purposes Ratio	0.0800	0.0800
Tier I Capital (to Risk Weighted Assets), Minimum Required For Capital Adequacy Purposes Amount	$ 337,420	$ 326,069
Tier I Capital (to Risk Weighted Assets), Minimum Required For Capital Adequacy Purposes Ratio	0.0600	0.0600
Common Equity Tier 1 (CET1), Minimum Required For Capital Adequacy Purposes Amount	$ 253,065	$ 244,551
Common Equity Tier 1 (CET1), Minimum Required For Capital Adequacy Purposes Ratio	4.50%	4.50%
Tier I Capital (to Average Assets), Minimum Required For Capital Adequacy Purposes Amount	$ 270,041	$ 261,222
Tier I Capital (to Average Assets), Minimum Required For Capital Adequacy Purposes Ratio	0.0400	0.0400
Excess Capital, For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	$ 590,486	$ 570,620
Excess Capital to Risk Weighted Assets, For Capital Adequacy Purposes Plus Capital Conservation Buffer Ratio	0.1050	0.1050
Tier I Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	$ 478,012	$ 461,930
Tier I Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Plus Capital Conservation Buffer Ratio	0.0850	0.0850
Common Equity Tier 1 (CET1), For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	$ 393,657	$ 380,413
Common Equity Tier 1 (CET1), For Capital Adequacy Purposes Plus Capital Conservation Buffer Ratio	7.00%	7.00%
Tier I Capital (to Average Assets), For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	$ 270,041	$ 261,222
Tier I Capital (to Average Assets), For Capital Adequacy Purposes Plus Capital Conservation Buffer Ratio	0.0400	0.0400
Total Capital (to Risk Weighted Assets), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 562,367	$ 543,448
Total Capital (to Risk Weighted Assets), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Ratio	0.1000	0.1000
Tier I Capital (to Risk Weighted Assets), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 449,894	$ 434,758
Tier I Capital (to Risk Weighted Assets), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Ratio	0.0800	0.0800
Common Equity Tier 1 (CET1), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 365,539	$ 353,241
Common Equity Tier 1 (CET1), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Ratio	6.50%	6.50%
Tier I Capital (to Average Assets), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 337,551	$ 326,527
Tier I Capital (to Average Assets), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Ratio	0.0500	0.0500

LAND, PREMISES AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Summary of Land, Premises And Equipment

Land, premises and equipment and related accumulated depreciation were as follows at December 31, 2023 and 2022:


(dollars in thousands)	2023		2022
Land	$	12,472	$	12,472
Premises and improvements	63,862		61,185
Equipment and furniture	37,483		37,460
Total cost	113,817		111,117
Less accumulated depreciation	55,918		53,020
Land, premises and equipment, net	$	57,899	$	58,097

STOCK BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Restricted Stock Awards and Units

A summary of the changes in the Company’s non-vested shares for the year follows:


Nonvested Shares	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2023	23,065	$	76.13
Granted	40,109	63.36
Vested	(14,026)	61.84
Forfeited	(1,808)	73.32
Nonvested at December 31, 2023	47,340	$	69.65

Schedule of Nonvested Performance-based Units

Shares granted below include the number of shares assumed granted based on actual performance criteria of the 2022-2024, 2021-2023 and 2020-2022 Long-Term Incentive Plans at December 31, 2023.


Nonvested Shares	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2023	304,621	$	57.79
Granted, net	(33,137)	69.56
Vested	(107,789)	45.65
Forfeited	(7,489)	68.32
Nonvested at December 31, 2023	156,206	$	63.18

STOCK BASED COMPENSATION - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Apr. 12, 2017	Apr. 09, 2013	Apr. 08, 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)						1,125,000
Shares available for grant (in shares)	279,618
Employee stock compensation	$ 3,700	$ 7,800	$ 7,200
Employee stock compensation, tax benefit	$ 908	$ 2,000	$ 1,800
Options granted (in shares)	0	0	0
Modifications of options (in shares)	0
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award term	10 years
Award vesting period	3 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period	1 year
Granted (in shares)	40,109
Unrecognized compensation cost related to non-vested shares	$ 862
Unrecognized compensation cost, period for recognition	1 year 8 months 12 days
Fair value of shares vested	$ 862	$ 1,200	$ 1,100
Shares vested (in shares)	14,026
Restricted Stock \| Non-Employee Directors Of The Board
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	13,000
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, period for recognition	1 year 6 months
Fair value of shares vested	$ 7,800	$ 4,300	$ 5,200
Unrecognized compensation cost related to options	$ 2,100
Shares vested (in shares)	107,789	53,670	83,216
2013 Plan Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)					435,867
2017 Plan Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)				1,000,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Nature of Operations and Principles of Consolidation	Nature of Operations and Principles of Consolidation: The consolidated financial statements include Lakeland Financial Corporation (the “Holding Company”) and its wholly owned subsidiary, Lake City Bank (the “Bank”), referred to as (the "Company"). On December 18, 2006, LCB Investments II, Inc. was formed as a wholly owned subsidiary of the Bank incorporated in Nevada to manage a portion of the Bank’s investment portfolio beginning in 2007. On December 21, 2006, LCB Funding, Inc., a real estate investment trust incorporated in Maryland, was formed as a wholly owned subsidiary of LCB Investments II, Inc. On December 28, 2012, LCB Risk Management, Inc., a captive insurance company incorporated in Nevada, was formed as a wholly owned subsidiary of the Holding Company. LCB Risk Management, Inc. was dissolved as a corporate entity on December 18, 2023. All assets of the subsidiary were distributed to the Holding Company upon decommissioning. All intercompany transactions and balances are eliminated in consolidation. The Company provides financial services through the Bank, a full-service commercial bank with 53 branch offices in fifteen counties in Northern and Central Indiana. The Company provides commercial, retail, trust and investment services to its customers. Commercial products include commercial loans and technology-driven solutions to meet commercial customers’ treasury management needs such as mobile business banking and online treasury management services. Retail banking clients are provided a wide array of traditional retail banking services, including lending, deposit and investment services. Retail lending programs are focused on mortgage loans, home equity lines of credit and traditional retail installment loans. Retail customers utilize the Lake City Bank Digital application to access and transact banking transactions. The Company provides credit card services to retail and commercial customers through its retail card program and merchant processing activity. The Company provides wealth advisory and trust clients with traditional personal and corporate trust services. The Company also provides retail brokerage services, including an array of financial and investment products such as annuities and life insurance. Other financial instruments, which represent potential concentrations of credit risk, include deposit accounts in other financial institutions.
Use of Estimates	Use of Estimates: To prepare financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”), management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided and future results could differ.
Cash Flows	Cash Flows: Cash and cash equivalents include cash, demand deposits in other financial institutions and short-term investments and certificates of deposit with maturities of 90 days or less. Cash flows are reported net for customer loan and deposit transactions, and certain short-term borrowings.
Securities	Securities: Securities are classified as available-for-sale when they might be sold before maturity. Securities available-for-sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income (loss), net of tax. Securities are classified as held-to-maturity and carried at amortized cost when management has the positive intent and ability to hold them to maturity. Purchase premiums or discounts are recognized in interest income using the interest method over the terms of the securities or over estimated lives for mortgage-backed securities. Gains and losses on sales are based on the amortized cost of the security sold and recorded on the trade date. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, nature of the security, the underlying collateral, and the financial condition of the issuer, among other factors. If this assessment indicates a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and a valuation allowance for securities losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through a valuation allowance for securities losses is recognized in other comprehensive income (loss). Changes in the valuation allowance for securities losses are recorded as a component of credit loss expense. Losses are charged against the valuation allowance for securities losses when management believes the uncollectibility of the security is confirmed or when either criteria regarding intent or requirement to sell is met. A portion of the municipal bond portfolio is classified as held-to-maturity. The Company measures expected credit losses on investment securities held-to-maturity on a collective basis by major security type with each type sharing similar risk characteristics and considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. The Company considers (1) issuer bond ratings, (2) historical loss rates for given bond ratings, (3) the financial condition of the issuer, and (4) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities. Historical loss rates associated with securities having similar grades as those in the Company's portfolio have been insignificant. After completing this assessment, the Company determined any credit losses as of December 31, 2023 and 2022 were not material to the consolidated financial statements.
Real Estate Mortgage Loans Held for Sale	Real Estate Mortgage Loans Held-for-Sale: Loans held-for-sale are reported at the lower of cost or fair value on an aggregate basis. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Loan sales occur on the delivery date agreed to in the relevant commitment agreement. The Company retains servicing on the majority of loans sold. The carrying value of loans sold is reduced by the amount allocated to the servicing right. The gain or loss on the sale of loans is the difference between the carrying value of the loans sold and the funds received from the sale.
Loans	Loans: Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of unearned interest, deferred loan fees and costs, and an allowance for credit losses. Interest income is reported on the interest method and includes amortization of net deferred loan fees and costs over the loan term. All classes of commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, other commercial and consumer 1-4 family mortgage loans for which collateral is insufficient to cover all principal and accrued interest are reclassified as nonaccrual loans, on or before the date when the loan becomes 90 days delinquent. When a loan is classified as a nonaccrual loan, interest on the loan is no longer accrued, all unpaid accrued interest is reversed and interest income is subsequently recorded on the cash-basis or cost-recovery method. Accrual status is resumed when all contractually due payments are brought current and future payments are reasonably assured. Other consumer loans are not placed on a nonaccrual status since these loans are charged-off when they have been delinquent from 90 to 180 days, and when the related collateral, if any, is not sufficient to offset the indebtedness. Nonaccrual loans and loans past due 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated and individually analyzed loans. The recorded investment in loans is the loan balance net of unamortized deferred loan fees and costs. The total amount of loans accrued interest as of December 31, 2023 and 2022 was $21.5 million and $18.4 million.
Allowance for Credit Losses	Allowance for Credit Losses: The allowance for credit losses is a valuation allowance to provide for expected credit losses. Losses are charged against the allowance when management believes that the principal is uncollectible. Subsequent recoveries, if any, are credited to the allowance. Allocations of the allowance are made for specific loans and for pools of similar types of loans, although the entire allowance is available for any loan that, in management's judgment, should be charged against the allowance. A provision for credit losses is taken based on management's ongoing evaluation of the appropriate allowance balance. A formal evaluation of the adequacy of the credit loss allowance is conducted monthly. The ultimate recovery of all loans is susceptible to future market factors beyond the Company's control. NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The determination of the appropriate allowance is inherently subjective, as it requires significant estimates by management. The Company has an established process to determine the adequacy of the allowance for credit losses that generally includes consideration of changes in the nature and volume of the loan portfolio and overall portfolio quality, along with current and forecasted economic conditions that may affect borrowers' ability to repay. Consideration is not limited to these factors although they represent the most commonly cited factors. To determine the specific allocation levels for individual credits, management considers the current valuation of collateral and the amounts and timing of expected future cash flows as the primary measures. Management also considers trends in adversely classified loans based upon an ongoing review of those credits. With respect to pools of similar loans, an appropriate level of general allowance is determined by portfolio segment using a probability of default-loss given default ("PD/LGD") model, subject to a floor. A default can be triggered by one of several different asset quality factors, including past due status, nonaccrual status, material modification to a borrower experiencing financial difficulty or if the loan has had a charge off. This PD is then combined with a LGD derived from historical charge off data to construct a loss rate. This loss rate is then supplemented with adjustments for reasonable and supportable forecasts of relevant economic indicators, particularly the unemployment rate forecast from the Federal Open Market Committee's Summary of Economic Projections, as well as portfolio trends based on the risks present for each portfolio segment. These environmental factors include consideration of portfolio trends and conditions; industry conditions; and effects of changes in credit concentrations. It is also possible that these factors could include social, political, economic, and terrorist events or activities. All of these factors are susceptible to change, which may be significant. As a result of this detailed process, the allowance results in two forms of allocations, specific and general. These two components represent the total allowance for credit losses deemed adequate to cover expected losses within the loan portfolio. Commercial loans are subject to a dual standardized grading process administered by the credit administration function. These grade assignments are performed independent of each other, and a consensus is reached by credit administration and the loan officer. Specific allowances are established in cases where management has identified significant conditions or circumstances related to an individual credit that indicate it should be evaluated on an individual basis. Considerations with respect to specific allocations for these individual credits include, but are not limited to, the following: (a) the sufficiency of the customer's cash flow or net worth to repay the loan; (b) the adequacy of the discounted value of collateral relative to the loan balance; (c) whether the loan has been criticized in a regulatory examination; (d) whether the loan is nonperforming; (e) any other reasons the ultimate collectability of the loan may be in question; or (f) any unique loan characteristics that require special monitoring. Allocations are also applied to categories of loans considered not to be individually analyzed, but for which the rate of loss is expected to be consistent with or greater than historical averages. Such allocations are based on past loss experience and information about specific borrower situations and estimated collateral values. These general pooled loan allocations are performed for portfolio segments of commercial and industrial; commercial real estate, multi-family, and construction; agri-business and agricultural; other commercial loans; and consumer 1-4 family mortgage and other consumer loans. General allocations of the allowance are determined by a historical loss rate based on the calculation of each pool's probability of default-loss given default, subject to a floor. The length of the historical period for each pool is based on the average life of the pool. The historical loss rates are all supplemented with consideration of economic conditions and portfolio trends. The risk characteristics of each of the identified portfolio segments are as follows: Commercial and Industrial - Borrowers may be subject to industry conditions including decreases in product demand; increase in material or other production costs that cannot be immediately recaptured in the sales or distribution cycle; interest rate increases that could have an adverse impact on profitability; non-payment of credit that has been extended under normal vendor terms for goods sold or services; and interruption related to the importing or exporting of production materials or sold products. Commercial Real Estate and Multi-Family Residential - Borrowers may be subject to potential adverse market conditions that cause a decrease in market value or lease rates; the potential for environmental impairment from events occurring on subject or neighboring properties; and obsolescence in location or function. Multi-family residential is also subject to adverse market conditions associated with a change in governmental or personal funding sources for tenants; over supply of units in a specific region; a shift in population; and reputational risks. Construction and land development risks include slower absorption than anticipated on speculative projects; deterioration in market conditions that may impact a project's value; unforeseen costs not considered in the original construction budget; or any other factors that may impact the completion or success of the project. Agri-business and Agricultural - Borrowers may be subject to adverse market or weather conditions including changes in local or foreign demand; lower yields than anticipated; political or other impact on storage, distribution or use; foreign trade policies including tariffs; and exposure to increasing commodity prices which result in higher production, distribution or exporting costs. NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Other Commercial - Borrowers may be subject to an interruption in the flow of funds to states and other political subdivisions for the purpose of debt repayments on loans held by the Bank. Consumer 1-4 Family Mortgage - Borrowers may be subject to adverse employment conditions in the local economy leading to increased default rates; decreased market values from oversupply in a geographic area; and impact to the borrowers' ability to maintain payments in the event of incremental rate increases on adjustable rate mortgages. Other Consumer - Borrowers may be subject to adverse employment conditions in the local economy which may lead to higher default rates; and decreases in the value of underlying collateral. A loan is individually analyzed for specific allocation when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Allocations are analyzed individually or in total for smaller-balance loans of similar nature such as all classes of consumer 1-4 family and other consumer loans, and individually for all classes of commercial and industrial, commercial real estate and multi-family, agribusiness and agricultural and other commercial loans. The Company analyzes commercial loans individually by classifying the loans as to credit risk. This analysis is performed on a quarterly basis for Special Mention, Substandard and Doubtful grade loans and annually on Pass grade loans over $250,000. Factors considered by management in determining individual evaluation include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as individually evaluated. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. If a loan is individually evaluated, a portion of the allowance may be allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral less anticipated costs to sell. All classes of commercial and industrial, commercial real estate and multifamily residential, agribusiness and agricultural, other commercial, consumer 1-4 family mortgage loans and other consumer loans that become delinquent beyond 90 days are analyzed and a charge off is taken when it is determined that the underlying collateral, if any, is not sufficient to offset the indebtedness. Loans, for which the terms have been modified for borrowers experiencing financial difficulties and a concession has been granted that could materially change the Company's expected future cash flows, are classified as individually evaluated and may be either accruing or non-accruing. Modifications to borrowers experiencing financial difficulties on nonaccrual status follow the same policy as described above for other loans. Individual evaluation for modifications to borrowers experiencing financial difficulty is measured at the present value of estimated future cash flows using the loan’s effective rate at inception or at discounted collateral value for collateral dependent loans. Due to the imprecise nature of estimating the allowance for credit losses, the Company's allowance for credit losses includes an immaterial unallocated component. The unallocated component of the allowance for credit losses incorporates the Company's judgmental determination of potential expected losses that may not be fully reflected in other allocations. As a practical expedient, the Company has elected to disclose accrued interest separately from loan principal balances on the consolidated balance sheet. Additionally, when a loan is placed on non-accrual, interest payments are reversed through interest income. For off balance sheet credit exposures outlined in the ASC at 326-20-30-11, it is the Company's position that nearly all of the unfunded amounts on lines of credit are unconditionally cancellable, and therefore not subject to having a liability recorded. Credit Quality Indicators: The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes commercial loans individually by classifying the loans as to credit risk. This analysis is performed on a quarterly basis for Special Mention, Substandard and Doubtful grade loans and annually on Pass grade loans over $250,000. The Company uses the following definitions for risk ratings: Special Mention. Loans classified as Special Mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard. Loans classified as Substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized as the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as Doubtful have all the weaknesses inherent in those classified as Substandard, with the added characteristics that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans are considered to be "Pass" rated when they are reviewed as part of the previously described process and do not meet the criteria above with the exception of consumer troubled debt restructurings, which are evaluated and listed with Substandard commercial grade loans and consumer nonaccrual loans which are evaluated individually and listed with “Not Rated” loans. Loans listed as Not Rated are consumer loans or commercial loans with consumer characteristics included in groups of homogenous loans which are analyzed for credit quality indicators utilizing delinquency status.
Investments in Limited Partnerships	Investments in Limited Partnerships: The Company enters into and invests in limited partnerships in order to invest in affordable housing projects to support Community Reinvestment Act activities and secondarily to obtain available tax benefits. The Company also invests in Small Business Investment Company Program funds and a technology consortium fund. The Company is a limited partner in these investments and, as such, the Company is not involved in the management or operation of such investments. These investments are accounted for using the equity method of accounting. Under the equity method of accounting, the Company records its share of the partnership’s earnings or losses in its income statement and adjusts the carrying amount of the investments on the consolidated balance sheet. These investments are evaluated for impairment when events indicate the carrying amount may not be recoverable. The investments recorded at December 31, 2023 and 2022 were $13.0 million and $12.2 million, respectively and are included with other assets in the consolidated balance sheet. The Company also has a commitment to fund an additional NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) $2.8 million at December 31, 2023 in six of the limited partnerships compared to $3.9 million in six of the limited partnerships at December 31, 2022, which is included with other liabilities in the consolidated balance sheet.
Foreclosed Assets	Foreclosed Assets: Assets acquired through loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines, a valuation allowance is recorded through expense. Costs incurred after acquisition are expensed. At December 31, 2023 and 2022, the balance of other real estate owned was $384,000 and $100,000, respectively, and is included with other assets on the consolidated balance sheet.
Land, Premises and Equipment, Net	Land, Premises and Equipment, Net: Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the useful lives of the assets. Premises and improvements assets have useful lives between 5 and 40 years. Equipment and furniture assets have useful lives between 3 and 7 years.
Loan Servicing Rights	Loan Servicing Rights: Servicing rights are recognized separately when they are acquired through sales of loans. When mortgage loans are sold, servicing rights are initially recorded at fair value with the income statement effect recorded in mortgage banking income. Fair value is based on a valuation model that calculates the present value of estimated future net servicing income. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. The amortization of servicing rights is netted against mortgage banking income. Servicing fees were $1.2 million for the years ended 2023, 2022 and 2021. Late fees and ancillary fees related to loan servicing are not material. Servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as loan type, term and interest rate. Any impairment of a grouping is reported as a valuation allowance, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in the valuation allowance are reported with mortgage banking income on the income statement. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. The carrying value of mortgage servicing rights, which is included with other assets in the consolidated balance sheet, was $2.2 million and $2.7 million as of December 31, 2023 and 2022, respectively. Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of these loans were $333.1 million and $364.3 million at December 31, 2023 and 2022, respectively. Custodial escrow balances maintained in connection with serviced loans were $1.5 million and $1.7 million at year end 2023 and 2022, respectively. Servicing fee income (loss), which is included in loan and service fees on the income statement, is recorded for fees earned for servicing loans. Fees earned for servicing loans are based on a contractual percentage of the outstanding principal amount of the loan and are recorded as income when earned.
Transfers of Financial Assets	Transfers of Financial Assets: Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
Mortgage Banking Derivatives	Mortgage Banking Derivatives: Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free-standing derivatives. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest on the loan is locked. The Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into, in order to hedge the change in interest rates resulting from its commitments to fund the loans. Changes in fair values of these derivatives are included in mortgage banking income.
Interest Rate Swap Derivatives	Interest Rate Swap Derivatives: The Company offers a derivative product to certain creditworthy commercial banking customers. This product allows the commercial banking customers to enter into an agreement with the Company to swap a variable rate loan to a fixed rate. These derivative products are designed to reduce, eliminate or modify the borrower’s interest rate exposure. The extension of credit incurred in connection with these derivative products is subject to the same approval and underwriting standards as traditional credit products. The Company limits its risk exposure by simultaneously entering into a similar, offsetting swap agreement with a separate, well-capitalized and highly rated counterparty previously approved by the Company’s Asset Liability Committee. By using these interest rate swap arrangements, the Company is also better insulated from the interest rate risk associated with underwriting fixed-rate loans and is better able to meet customer demand for fixed rate loans. These derivative contracts are not designated against specific assets or liabilities and, therefore, do not qualify for hedge accounting. The derivatives are recorded as assets and liabilities on the balance sheet at fair value with changes in fair value recorded in non-interest income for both the commercial banking customer swaps and the related offsetting swaps. The fair value of the derivative instruments incorporates a consideration of credit risk (in accordance with ASC 820), resulting in some potential volatility in earnings each period. Cash flow activity is recorded through other assets and other liabilities. The notional amount of the combined interest rate swaps with customers and counterparties at December 31, 2023 and 2022 was $826.4 million and $760.5 million, respectively. The fair value of the interest rate swap asset was $27.2 million and $36.9 million and the fair value of the interest rate swap liability was $27.2 million and $36.9 million at December 31, 2023 and 2022, respectively.
Bank Owned Life Insurance	Bank Owned Life Insurance: At December 31, 2023 and 2022, the Company owned $104.8 million and $102.5 million, respectively, of life insurance policies on certain officers to provide a life insurance benefit for these officers. At December 31, 2023 and 2022, the Company also owned $4.3 million and $5.9 million, respectively, of variable life insurance on certain officers related to a deferred compensation plan. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, i.e., the cash surrender value adjusted for other changes or other amounts due that are probable at settlement.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets: All goodwill on the Company’s consolidated balance sheet resulted from business combinations prior to January 1, 2009 and represents the excess of the purchase price over the fair value of acquired tangible assets and liabilities and identifiable intangible assets. Goodwill is not amortized, but assessed at least annually for impairment and any such impairment would be recognized in the period identified.
FHLB and Federal Reserve Bank Stock	FHLB and Federal Reserve Bank Stock: FHLB and Federal Reserve Bank stock are carried at cost in other assets, classified as a restricted security and are periodically evaluated for impairment based on ultimate recoverability of par value. Both cash and stock dividends are reported as income.
Long-term Assets	Long-term Assets: Premises and equipment, and other long-term assets are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. There was no such impairment identified for the years ended December 31, 2023, 2022 and 2021.
Benefit Plans	Benefit Plans: The Company has a noncontributory defined benefit pension plan, which covered substantially all employees until the plan was frozen effective April 1, 2000. Funding of the plan equals or exceeds the minimum funding requirement determined by the actuary. Pension expense is the net of interest cost, return on plan assets and amortization of gains and losses not immediately recognized. Benefits are based on years of service and compensation levels. The Company maintains a 401(k) profit sharing plan for all employees meeting certain age and service requirements. The Company contributions are based upon the percentage of budgeted net income earned during the year. An employee deferred compensation plan is available to certain employees with returns based on investments in mutual funds. The Company maintains a directors’ deferred compensation plan. Effective January 1, 2003, the directors’ deferred compensation plan was amended to restrict the deferral to be in stock only and deferred directors’ fees are included in equity. The Company acquires shares on the open market and records such shares as treasury stock.
Revenue Recognition	Revenue Recognition: All of the Company’s revenue from contracts with customers in the scope of ASC 606 is recognized within noninterest income. The following is a description of principal activities from which we generate revenue. Revenues are recognized as the Company satisfies its obligations with our customers, in an amount that reflects the consideration that we expect to receive in exchange for those services. Wealth advisory fees The Company provides wealth advisory services to its customers and earns fees from its contracts with trust customers to manage assets for investment and/or to transact on their accounts. These fees are primarily earned over time as the Company provides the contracted monthly, quarterly, or annual services and are generally assessed based on a tiered scale of the market value of assets under management (AUM) at month-end. Fees that are transaction based, including trade execution services, are recognized at the point in time that the transaction is executed. Other related services, such as escrow accounts that are based on a fixed schedule, are recognized when the services are rendered. Investment brokerage services The Company provides investment brokerage services through a full service brokerage and investment and advisory firm, Cetera Investment Services LLC (“Cetera”). The Company receives commissions from Cetera on a monthly basis based upon customer activity for the month. The fees are recognized monthly and a receivable is recorded until commissions are generally paid by the 5th business day of the following month. Because the Company (i) acts as an agent in arranging the relationship between the customer and the Cetera and (ii) does not control the services to the customers, investment brokerage service fees are presented net of Cetera’s related costs. Service charges on deposit accounts The Company earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s balance. Interchange income The Company provides the ability to transact on certain deposit accounts through the use of debit cards by outsourcing the services through third party service providers. Performance obligations are met on a transactional basis and income is recognized monthly based on transaction type and volume. Under the accounting standards in effect in the prior period, revenue was previously recognized net of the third party’s costs. Under ASC 606, fees from interchange income related to its customers use of debit cards will be reported gross in loan and service fees under noninterest income. The cost of using third party providers for these interchange services are reported in data processing fees and supplies under noninterest expense. NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Gain on sale of other real estate owned ("OREO") financed by seller On occasion, the Company underwrites a loan to purchase property owned by the Company. Under ASC 606, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain (loss) on sale if a significant financing component is present. Debit card incentive rebates The Company receives incentive rebates based on debit card transaction volume. Performance obligations are met on a transactional basis and income is recognized monthly based on transaction volume. Under ASC 606, these rebates related to debit card transaction volume are reported as a contra expense in data processing fees and supplies under noninterest expense.
Stock Based Compensation	Stock Based Compensation: Compensation cost is recognized for stock options and restricted stock awards issued to employees, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Company’s common stock at the date of grant adjusted for the present value of expected dividends is used for restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. Certain of the restricted stock awards are performance based, as more fully discussed in Note 14 – Stock Based Compensation.
Income Taxes	Income Taxes: Annual consolidated federal and state income tax returns are filed by the Company. Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. Income tax expense is recorded based on the amount of taxes due on its tax return plus net deferred taxes computed based upon the expected future tax consequences of temporary differences between carrying amounts and tax basis of assets and liabilities, using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is more likely of being realized on examination than not. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense.
Off-Balance Sheet Financial Instruments	Off-Balance Sheet Financial Instruments: Financial instruments include credit instruments, such as commitments to make loans and standby letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. The fair value of standby letters of credit is recorded as a liability during the commitment period.
Earnings Per Common Share	Earnings Per Common Share: Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock options, restricted stock awards and warrants. Earnings and dividends per share are restated for all stock splits and dividends through the date of issue of the financial statements. The common shares included in treasury stock for 2023 and 2022 were 473,120 and 475,902 shares, respectively. Common stock that has been purchased under the directors’ deferred compensation plan, described above, is included in the treasury stock total and represented 184,019 and 186,801 shares of treasury stock as of December 31, 2023 and 2022, respectively. Because these shares are held in trust for the participants, NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) they are treated as outstanding when computing the weighted-average common shares outstanding for the calculation of both basic and diluted earnings per share. Treasury stock is carried at cost using the treasury stock method.
Comprehensive Income (Loss)	Comprehensive Income (Loss): Comprehensive income (loss) consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities available-for-sale, reclassification adjustments for securities transferred to held-to-maturity, reclassification adjustments for gains on the sale of available-for-sale securities and changes in the funded status of the pension plan, which are also recognized as separate components of equity.
Loss Contingencies	Loss Contingencies: Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. The Bank discovered potentially fraudulent activity by a former treasury management client involving multiple banks. The former client subsequently filed several related bankruptcy cases, captioned In re Interlogic Outsourcing, Inc., et al., which are pending in the United States Bankruptcy Court for the Western District of Michigan. On April 27, 2021, the bankruptcy court entered an order approving an amended plan of liquidation, which was filed by the former client, other debtors and bankruptcy plan proponents, and approving the consolidation of the assets in the aforementioned cases under the Khan IOI Consolidated Estate Trust. On August 9, 2021, the liquidating trustee for the bankruptcy estates filed a complaint against the Bank and the Company, and agreed to stay prosecution of the action through August 31, 2022. The original complaint focused on a series of business transactions among the client, related entities and the Bank, which the liquidating trustee alleged are voidable under applicable federal bankruptcy and state law. The complaint also addressed treatment of the Bank's claims filed in the bankruptcy cases. On August 31, 2022, the trustee filed his amended complaint against the former client, the Bank, the Company, four officers of the Bank and one independent director of the Bank. The amended complaint alleges that the former client engaged in a check kiting scheme involving multiple banks. The amended complaint alleges that a series of business transactions among the client, his related entities and the Bank are voidable under applicable bankruptcy and state laws. The amended complaint also alleges that the Bank, the Company and the five individual bank representatives who are named as defendants violated various federal and state laws in assisting the former client in his check kiting scheme. On October 26, 2022, the trustee filed his second amended complaint which was virtually identical to his amended complaint. On January 5, 2023, the Bank, the Company and the five individual bank representatives filed motions to dismiss the second amended complaint. On May 30, 2023, the court issued its decision granting the defendants' motion to dismiss in part and denying it in part. The court dismissed all claims against the Company and the Bank's independent director. The court dismissed several of the claims against the defendants but granted the trustee the right to file an amended complaint. On June 20, 2023, the trustee filed his third amended complaint. The trustee alleges many of the same claims that were alleged in the second amended complaint. The defendants filed a motion to dismiss the third amended complaint on July 25, 2023. The trustee subsequently filed a response to this motion. On November 26, 2023, the court issued its decision granting the defendants' motion to dismiss in part and denying it in part, with pre-trial discovery scheduled to start in early 2024 for all claims not dismissed by the court in its November ruling. Based on current information, we have determined that a material loss is neither probable nor estimable at this time, and the Bank and the four individual Bank representatives who remain as defendants intend to vigorously defend themselves against all allegations asserted in this amended complaint.
Restrictions on Cash	Restrictions on Cash: The Federal Reserve Bank eliminated the reserve requirement for all depository institutions in March of 2020. Therefore, the Company was not required to have cash on hand or on deposit with the Federal Reserve Bank to meet regulatory reserve and clearing requirements at December 31, 2023 and 2022.
Dividend Restriction	Dividend Restriction: Banking regulations require maintaining certain capital levels and may limit the dividends paid by the Bank to the Company or by the Company to its stockholders. These restrictions currently pose no practical limit on the ability of the Bank or Company to pay dividends at historical levels.
Fair Value of Financial Instruments	Fair Value of Financial Instruments: Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 5 - Fair Value. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates.
Operating Segments	Operating Segments: The Company’s chief decision-makers monitor and evaluate financial performance on a Company-wide basis. All of the Company’s financial service operations are similar and considered by management to be aggregated into one reportable operating segment. While the Company has assigned certain management responsibilities by region and business-line, the Company’s chief decision-makers monitor and evaluate financial performance on a Company-wide basis. The majority of the Company’s revenue is from the business of banking and the Company’s assigned regions have similar economic characteristics, products, services and customers. Accordingly, all of the Company’s operations are considered by management to be aggregated in one reportable operating segment.
Adoption of New Accounting Standards	Adoption of New Accounting Standards: On March 12, 2020, the FASB issued Accounting Standards Update (ASU) 2020-04, "Reference Rate Reform (ASC 848): Facilitation of the Effects of Reference Rate Reform of Financial Reporting." ASC 848 contains optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to to be discontinued. On December 22, 2022, the FASB issued ASU 2022-06, "Reference Rate Reform (ASC848): Deferral of the Sunset Date of Topic 848", which provided a definitive sunset date of December 31, 2024 for the relief guidance under Topic 848. The ASU was effective immediately upon issuance. The Company formed a cross-functional project team to lead the transition from LIBOR to a planned adoption of reference rates which included the Secure Overnight Financing Rate ("SOFR"), amongst others. The Company identified certain loans that renewed prior to 2021 and obtained updated reference rate language at the time of the renewal. Additionally, management utilized timeline guidance published by the Alternative Reference Rates Committee to develop and achieve internal milestones during the transitional period. The Company's policy is to adhere to the International Swaps and Derivatives Association 2020 IBOR Fallbacks Protocol that was released on October 23, 2020. The Company discontinued the use of new LIBOR-based loans by December 31, 2021, according to regulatory guidelines. The Company transitioned LIBOR-based loans to an alternative reference rate before June 30, 2023. The Company adopted the LIBOR transition relief allowed under this standard, and it did not have a material impact on the consolidated financial statements. On March 28, 2022, the FASB issued ASU 2022-01, "Derivatives and Hedging (ASC 815): Fair Value Hedging - Portfolio Layer Method." ASC 815 previously permitted only prepayable financial assets and one or more beneficial interests secured by a portfolio of prepayable financial instruments to be included in a last-of-layer closed portfolio. The amendment in this update allows nonrepayable financial assets to also be included in a closed portfolio hedged using the portfolio layer method. That expanded scope allows an entity to apply the same portfolio hedging method to both prepayable and nonprepayable financial assets, thereby allowing consistent accounting for similar hedges. The update become effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. The Company adopted ASU 2022-01 on January 1, 2023, which did not have a material impact on the consolidated financial statements. On March 31, 2022, the FASB issued ASU 2022-02, "Financial Instruments - Credit Losses (ASC 326): Troubled Debt Restructurings (TDRs) and Vintage Disclosures." The update amends ASC 326 to eliminate the accounting guidance for TDRs by creditors, while enhancing disclosures requirements for certain loan refinancing and restructuring activities by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying TDR recognition and measurement guidance, creditors will determine whether a modification results in a new loan or continuation of an existing loan. These amendments are intended to enhance existing disclosure requirements and introduce new requirements related to certain modifications or receivables made to borrowers experiencing financial difficulty. Additionally, the amendments to ASC 326 require that an entity disclose current-period gross write-offs by year of origination within the vintage disclosures, which requires that an entity disclose the amortized cost basis of financing receivables by credit quality indicator and class of financing receivable by year of origination. The update is available for entities that have adopted the amendments in update NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 2016-13 for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. The Company elected to early adopt the provisions of the ASU related to the discontinuance of TDR reporting, with retrospective application of modification reporting effective starting January 1, 2022. The Company adopted the provisions related to reporting of current-period gross write-offs within the vintage disclosures effective January 1, 2023. The adoption of the provisions contained within ASU 2022-20 did not have a material impact on the consolidated financial statements. On March 28, 2023, the FASB issued ASU 2023-02, "Investments - Equity Method and Join Ventures (ASC 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method." ASU 2014-01, "Investments - Equity method and Joint Ventures (ASC 323): Accounting for Investments in Qualified Affordable Housing Projects", previously introduced the option to apply the proportional amortization method to account for investments made primarily for the purpose of receiving income tax credits and other income tax benefits when certain requirements are met; however, this guidance limited the proportional amortization method to investments in low-income-housing tax credit (LIHTC) structures. The proportional amortization method results in the cost of the investment being amortized in proportion to the income tax credits and other income tax benefits received, with the amortization of the investment and the income tax credits being presented net in the income statement as a component of net income tax expense (benefit). Equity investments in other tax credit structures are typically accounted for using the equity method, which results in investment income, gains and losses, and tax credits being presented gross on the income statement in their respective line items. The amendments in this update permit reporting entities to elect to account for certain tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the income tax benefits in the income statement as a component of income tax expense (benefit). To qualify for the proportional amortization method, all of the following conditions must be met: (1) It is probable that the income tax credits allocated to the tax equity investor will be available; (2) The tax equity investor does not have the ability to exercise significant influence over the operating and financial policies of the underlying project; (3) Substantially all of the projected benefits are from income tax credits and other income tax benefits. Projected benefits included income tax credits, other income tax benefits, and other non-income tax -related benefits. The projected benefits are determined on a discounted basis, using a discount rate that is consistent with the cash flow assumptions used by the tax equity investor in making its decision to invest in the project; (4) The tax equity investor's projected yield based solely on the cash flows from the income tax credits and other income tax benefits is positive; and (5) The tax equity investor is a limited liability investor in the limited liability entity for both legal and tax purposes, and the tax equity investor's liability is limited to its capital investment. An accounting policy election is allowed to apply the proportional amortization method on a tax-credit-program-by-tax-credit-program basis rather than electing to apply the proportional amortization method at the reporting entity level or to individual investments. The amendments in this update require specific disclosures that must be applied to all investments that generate income tax credits and other income tax benefits from a tax credit program for which the entity has elected to apply the proportional amortization method. The amendments require that a reporting entity disclose certain information in annual and interim reporting periods that enable investors to understanding the following information about its investments that generate income tax credits and other income tax benefits from a tax credit program including: (1) The nature of its tax equity investments; and (2) The effect of its tax equity investments and related income tax credits and other income tax benefits on its financial position and results of operations. For public business entities, the amendments in this update are effective for fiscal years beginning after December 31, 2023, including interim periods within those fiscal years. Early adoption is permitted in any interim period. If early adoption is elected, the provisions shall be adopted as of the beginning of the fiscal year that includes the interim period of adoption. The amendments in this update must be applied on either a modified retrospective or a retrospective basis. The Company chose the modified retrospective approach and recorded a day one adjustment of less than $1.0 million to beginning retained earnings upon adoption of ASU 2023-02 on January 1, 2024, which did not have a material impact on the consolidated financial statements.
Newly Issued But Not Yet Effective Accounting Standards	Newly Issued But Not Yet Effective Accounting Standards: On October 9, 2023, the FASB issued ASU 2023-06, "Disclosure Improvements: Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative", which modified the disclosure or presentation requirements of a variety of Topics in the Codification and was intended to both clarify or improve such requirements and align the requirements with the SEC's regulations. The amendments to Topics of Codification provided in this update apply to all reporting entities within the scope of the affected Topics unless otherwise indicated by the update. Given the variety of Topics NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) amended, a broad range of entities may be affected by one or more of the amendments provided in the update. The Company evaluated the amendments provided in the update and believes certain of the disclosure improvements are applicable to the Company's interim or annual disclosures. Subtopic 230-10, as amended, requires disclosure within the accounting policy in annual periods of where cash flows associated with derivative instruments and their related gains and losses are presented within the statement of cash flows. Subtopic 260-10, as amended, requires disclosure of the methods used in the diluted earnings-per-share computation for each dilutive security and clarifies that certain disclosures should be made during interim periods. Subtopic 470-10, as amended, requires disclosure of amounts and terms of unused lines of credit and unfunded commitments and the weighted-average interest rate on short-term borrowings outstanding as of the date of each balance sheet presented. The effective date for each amendment for entities subject to the SEC's existing disclosure requirements is the effective date of the removal of the related disclosure from Regulation S-X or Regulation S-K, with early adoption prohibited. The amendments in the update are to be applied prospectively. The Company will apply prospectively the provisions provided in the amendments as such provisions become effective, and does not believe the application of these modified disclosure requirements will have a material impact on the consolidated financial statements. If by June 30, 2027, the SEC has not removed the applicable requirement from Regulation S-X or Regulation S-K, the pending content of the related amendment in the Update will be removed from the Codification and will not become effective. On November 27, 2023, the FASB issued ASU 2023-07, "Segment Reporting (ASC 280): Improvements to Reportable Segment Disclosures", intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment segment expenses. Provisions in the amendment include: (1) Requirement that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss (collectively referred to as the "significant expense principle"); (2) Requirement that a public entity disclose, on an an annual and interim basis, an amount for other segment items by reportable segment and a description of its composition. The other segment items category is the difference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported measure of segment profit or loss; (3) Requirement that a public entity provide all annual disclosures about a reportable segment's profit or loss and assets currently required by ASC 280 in interim periods; (4) Clarification that if the CODM uses more than one measure of a segment's profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit. However, at lease one of the reported segment profit or loss measures (or the single reported measure, if only one is disclosed) should be the measure that is most consistent with the measurement principles used in measuring the corresponding amounts in the public entity's consolidated financial statements; (5) Requirement that a public entity disclose the title and position of the CODM and explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources; and (6) Requirement that a public entity that has a single reportable segment provide all the disclosures by the amendments in the update and all existing segment disclosures in ASC 280. The amendments in the update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. For public business entities, amendments in the update should be applied retrospectively to all periods presented in the financial statements, and upon transition the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The Company is currently evaluating the impact of this standard on its disclosures, however does not expect adoption of the Update to have a material impact on the consolidated financial statements. On December 14, 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures", to address investor requests for greater transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The amendments are designed to enhance transparency surrounding income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by taxing jurisdiction, which will allow investors to better assess, in their capital allocation decisions, how an entity's operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. Other amendments in this Update improve the effectiveness and comparability of disclosures by (1) adding disclosures of pretax income (or loss) and income tax expense (or benefit) to be consistent with the SEC's Regulation S-X 210.4-08(h), Rules of General Application-General Notes to Financial Statements: Income Tax Expense, and (2) removing disclosures that are no longer considered cost beneficial or relevant. NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The amendments in the Update are effective for public business entities for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this Update should be applied on a prospective basis, however retrospective application is permitted. The Company is currently evaluating the impact of this Update on its disclosures, however does not expect adoption of the Update to have a material impact on the consolidated financial statements.
Reclassifications	Reclassifications: Certain amounts appearing in the financial statements and notes thereto for prior periods have been reclassified to conform with the current presentation. The reclassifications had no effect on net income or stockholders’ equity as previously reported.

OFFSETTING ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2023

OFFSETTING ASSETS AND LIABILITIES

Schedule of Offsetting Assets And Liability

The following tables summarize gross and net information about financial instruments and derivative instruments that are offset in the statement of financial position or that are subject to an enforceable master netting arrangement at December 31, 2023 and 2022.


	2023
	Gross Amounts of Recognized Assets/ Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
(dollars in thousands)							Financial Instruments		Cash Collateral Position		Net Amount
Assets
Interest Rate Swap Derivatives	$	27,189	$	0	$	27,189	$	0	$	(25,555)	$	1,634
Total Assets	$	27,189	$	0	$	27,189	$	0	$	(25,555)	$	1,634
Liabilities
Interest Rate Swap Derivatives	$	27,190	$	0	$	27,190	$	0	$	(90)	$	27,100
Total Liabilities	$	27,190	$	0	$	27,190	$	0	$	(90)	$	27,100


	2022
	Gross Amounts of Recognized Assets/ Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
(dollars in thousands)							Financial Instruments		Cash Collateral Position		Net Amount
Assets
Interest Rate Swap Derivatives	$	36,920	$	0	$	36,920	$	0	$	(34,185)	$	2,735
Total Assets	$	36,920	$	0	$	36,920	$	0	$	(34,185)	$	2,735
Liabilities
Interest Rate Swap Derivatives	$	36,921	$	0	$	36,921	$	0	$	(90)	$	36,831
Total Liabilities	$	36,921	$	0	$	36,921	$	0	$	(90)	$	36,831

SECURITIES - Schedule of Sales of Securities Available For Sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Sales of securities available-for-sale
Proceeds	$ 105,175	$ 25,332	$ 13,964
Gross gains	439	140	797
Gross losses	$ (464)	$ (119)	$ 0
Number of securities (in shares)	115	30	9

DEPOSITS

12 Months Ended

Dec. 31, 2023

Deposits [Abstract]

DEPOSITS

The following table details total deposits as of December 31, 2023 and 2022:


(dollars in thousands)	2023		2022
Non-interest bearing demand deposits	$	1,353,477	$	1,736,761
Savings and transaction accounts:
Savings deposits	301,168		403,773
Interest bearing demand deposits	3,049,059		2,693,900
Time deposits:
Other time deposits	224,083		170,759
Deposits of $100,000 to $250,000	235,096		185,194
Deposits of $250,000 or more	557,642		270,233
Total deposits	$	5,720,525	$	5,460,620

NOTE 8 – DEPOSITS (continued)

At December 31, 2023, the scheduled maturities of time deposits were as follows:


(dollars in thousands)	Amount
Maturing in 2024	$	879,303
Maturing in 2025	84,751
Maturing in 2026	16,885
Maturing in 2027	31,638
Maturing in 2028	4,110
Thereafter	134
Total time deposits	$	1,016,821

During 2023 and 2022 the Bank entered into agreements with IntraFi Network relative to their Insured Cash Sweep One-Way Buy program. As of December 31, 2023 and 2022 the total amount available to the Bank via this program was $100.0 million, of which, $10.0 million was drawn.

LEASES

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

LEASES

The Company leases certain office facilities under long-term operating lease agreements. The leases expire at various dates through 2037 and some include renewal options. Many of these leases require the payment of property taxes, insurance premiums, maintenance, utilities and other costs. In many cases, rentals are subject to increase in relation to a cost-of-living index. The Company accounts for lease and non-lease components together as a single lease component. The Company determines if an arrangement is a lease at inception. Operating leases are recorded as a right-of-use (“ROU”) lease assets and are included in other assets on the consolidated balance sheet. The Company’s corresponding lease obligations are included in other liabilities on the consolidated balance sheet. ROU lease assets represent the Company’s right to use an underlying asset for the lease term and lease obligations represent the Company’s obligation to make lease payments arising from the lease. Operating ROU lease assets and obligations are recognized at the commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The ROU lease asset also includes any lease payments made and excludes lease incentives. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.

NOTE 22 - LEASES (continued)

Lease expense for lease payments is recognized on a straight-line basis over the lease term. Short-term leases are leases having a term of twelve months or less. The Company recognizes short-term leases on a straight-line basis and does not record a related lease asset or liability for such leases, as allowed as practical expedient of the lease standard.

The following is a maturity analysis of the operating lease liabilities as of December 31, 2023:


Years ending December 31, (in thousands)	Operating Lease Obligation
2024	$	744
2025	756
2026	731
2027	753
2028	593
2029 and thereafter	1,591
Total undiscounted lease payments	5,168
Less imputed interest	(473)
Lease liability	$	4,695
Right-of-use asset	$	4,695


	Year Ended		Year Ended		Year Ended
	December 31, 2023		December 31, 2022		December 31, 2021
Lease cost
Operating lease cost	$	724	$	667	$	536
Short-term lease cost	18		22		24
Total lease cost	$	742	$	689	$	560


Other information
Operating cash outflows from operating leases	$	724		$	667		$	536
Weighted-average remaining lease term - operating leases	6.3			7.3			7.9
Weighted average discount rate - operating leases	2.5		%	2.5		%	2.8		%

SECURITIES - Summary of Available For Sale Securities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Schedule of Available-for-sale Securities
Amortized Cost	$ 1,226,319,000	$ 1,400,783,000
Gross Unrealized Gain	183,000	224,000
Gross Unrealized Losses	(174,774,000)	(215,479,000)
Allowance for Credit Losses	0	0
Fair Value	1,051,728,000	1,185,528,000
Schedule of Held-to-Maturity Securities [Line Items]
Fair Value	129,918,000
U.S. Treasury securities
Schedule of Available-for-sale Securities
Amortized Cost		3,057,000
Gross Unrealized Gain		0
Gross Unrealized Losses		(23,000)
Allowance for Credit Losses		0
Fair Value		3,034,000
U.S. government sponsored agencies
Schedule of Available-for-sale Securities
Amortized Cost	146,692,000	156,184,000
Gross Unrealized Gain	0	0
Gross Unrealized Losses	(27,213,000)	(29,223,000)
Allowance for Credit Losses	0	0
Fair Value	119,479,000	126,961,000
Mortgage-backed securities: residential
Schedule of Available-for-sale Securities
Amortized Cost	522,275,000	578,175,000
Gross Unrealized Gain	118,000	67,000
Gross Unrealized Losses	(74,551,000)	(85,934,000)
Allowance for Credit Losses	0	0
Fair Value	447,842,000	492,308,000
State and municipal securities
Schedule of Available-for-sale Securities
Amortized Cost	557,352,000	663,367,000
Gross Unrealized Gain	65,000	157,000
Gross Unrealized Losses	(73,010,000)	(100,299,000)
Allowance for Credit Losses	0	0
Fair Value	484,407,000	563,225,000
Schedule of Held-to-Maturity Securities [Line Items]
Amortized Cost	129,918,000	128,242,000
Gross Unrealized Gain	0	0
Gross Unrealized Losses	(10,703,000)	(17,213,000)
Allowance for Credit Losses	0	0
Fair Value	$ 119,215,000	$ 111,029,000

DEPOSITS - Summary of Certain Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deposits [Abstract]
Non-interest bearing demand deposits	$ 1,353,477	$ 1,736,761
Savings and transaction accounts:
Savings deposits	301,168	403,773
Interest bearing demand deposits	3,049,059	2,693,900
Time deposits:
Other time deposits	224,083	170,759
Deposits of $100,000 to $250,000	235,096	185,194
Deposits of $250,000 or more	557,642	270,233
Total deposits	$ 5,720,525	$ 5,460,620

FAIR VALUE

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE

Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values:

Level 1 Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2 Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3 Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

The Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument:

Securities: Securities available-for-sale are valued primarily by a third party pricing service. The fair values of securities available-for-sale are determined on a recurring basis by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs) or pricing models which utilize significant observable inputs such as matrix pricing. This is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). These models utilize the market approach with standard inputs that include, but are not limited to benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data. For certain municipal securities that are not rated and observable inputs about the specific issuer are not available, fair values are estimated using observable data from other municipal securities presumed to be similar or other market data on other non-rated municipal securities (Level 3 inputs).

The Company’s Finance Department, which is responsible for all accounting and SEC compliance, and the Company’s Treasury Department, which is responsible for investment portfolio management and asset/liability modeling, are the two areas that determine the Company’s valuation policies and procedures. Both of these areas report directly to the Executive Vice President and Chief Financial Officer of the Company. For assets or liabilities that may be considered for Level 3 fair value measurement on a recurring basis, these two departments and the Executive Vice President and Chief Financial Officer determine the appropriate level of the assets or liabilities under consideration. If there are assets or liabilities that are determined to be Level 3 by this group, the Risk Management Committee of the Company and the Audit Committee of the board of directors (the “Board”) are made aware of such assets at their next scheduled meeting.

Securities pricing is obtained on securities from a third party pricing service and all security prices are tested annually against prices from another third party provider and reviewed with a market value price tolerance variance that varies by sector: municipal securities +/- 5%, government agency/MBS/CMO +/-3% and U.S. treasuries +/-1%. If any securities fall outside the tolerance threshold and have a variance of $100,000 or more, a determination of materiality is made for the amount over the threshold. Any security that would have a material threshold difference would be further investigated to determine why the variance exists and if any action is needed concerning the security pricing for that individual security. Changes in market value are reviewed monthly in aggregate by security type and any material differences are reviewed to determine why they exist. At least annually, the pricing methodology of the pricing service is received and reviewed to support the fair value levels used by the Company. A detailed pricing evaluation is requested and reviewed on any security determined to be fair valued using unobservable inputs by the pricing service.

Mortgage banking derivative: The fair values of mortgage banking derivatives are based on observable market data as of the measurement date (Level 2).

Interest rate swap derivatives: Our derivatives are traded in an over-the-counter market where quoted market prices are not always available. Therefore, the fair values of derivatives are determined using quantitative models that utilize multiple market inputs. The inputs will vary based on the type of derivative, but could include interest rates, prices and indices to generate continuous yield or pricing curves, prepayment rates, and volatility factors to value the position. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing

NOTE 5 – FAIR VALUE (continued)

services. The fair value of interest rate swap derivatives is determined by pricing or valuation models using observable market data as of the measurement date (Level 2).

Collateral dependent loans: Collateral dependent loans with specific allocations of the allowance for credit losses generally based on the fair value of the underlying collateral when repayment is expected solely from the collateral. Fair value is determined using several methods. Generally, the fair value of real estate is based on appraisals by qualified third party appraisers. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and result in a Level 3 classification of the inputs for determining fair value. In addition, the Company’s management routinely applies internal discount factors to the value of appraisals used in the fair value evaluation of collateral dependent loans. The deductions to the appraisals take into account changing business factors and market conditions, as well as value impairment in cases where the appraisal date predates a likely change in market conditions. Commercial real estate is generally discounted from its appraised value by 30-50% with the higher discounts applied to real estate that is determined to have a thin trading market or to be specialized collateral. In addition to real estate, the Company’s management evaluates other types of collateral as follows: (a) raw materials inventory is discounted from its cost or book value by 40%-60%, depending on the marketability of the goods (b) finished goods are generally discounted by 40%-60%, depending on the ease of marketability, cost of transportation or scope of use of the finished good (c) work in process inventory is typically discounted by 60%-100%, depending on the length of manufacturing time, types of components used in the completion process, and the breadth of the user base (d) equipment is valued at a percentage of depreciated book value or recent appraised value, if available, and is typically discounted at 20%-50% after various considerations including age and condition of the equipment, marketability, breadth of use, and whether the equipment includes unique components or add-ons; and (e) marketable securities are discounted by 10%-30%, depending on the type of investment, age of valuation report and general market conditions. This methodology is based on a market approach and typically results in a Level 3 classification of the inputs for determining fair value.

Mortgage servicing rights: As of December 31, 2023, the fair value of the Company’s Level 3 servicing assets for residential mortgage loans (“MSRs”) was $2.2 million, carried at amortized cost and no valuation reserve. These residential mortgage loans have a weighted average interest rate of 3.5%, a weighted average maturity of 20 years and are secured by homes generally within the Company’s market area of Northern Indiana and Indianapolis. A valuation model is used to estimate fair value by stratifying the portfolios on the basis of certain risk characteristics, including loan type and interest rate. Impairment is estimated based on an income approach. The inputs used include estimates of prepayment speeds, discount rate, cost to service, escrow account earnings, contractual servicing fee income, ancillary income, late fees, and float income. The most significant assumption used to value MSRs is prepayment rate. Prepayment rates are estimated based on published industry consensus prepayment rates. The most significant unobservable assumption is the discount rate. At December 31, 2023, the constant prepayment speed (“PSA”) used was 148 and discount rate used was 10.5%. At December 31, 2022, the PSA used was 159 and the discount rate used was 9.5%.

Other real estate owned: Nonrecurring adjustments to certain commercial and residential real estate properties classified as other real estate owned are measured at the lower of carrying amount or fair value less costs to sell. Fair values are generally based on third party appraisals of the property and are reviewed by the Company’s internal appraisal officer. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable properties used to determine value. Such adjustments are usually significant and result in a Level 3 classification. In addition, the Company’s management may apply discount factors to the appraisals to take into account changing business factors and market conditions, as well as value impairment in cases where the appraisal date predates a likely change in market conditions. In cases where the carrying amount exceeds the fair value, less costs to sell, an impairment loss is recognized.

Real estate mortgage loans held-for-sale: Real estate mortgage loans held-for-sale are carried at the lower of cost or fair value, as determined by outstanding commitments, from third party investors, and result in a Level 2 classification.

NOTE 5 – FAIR VALUE (continued)

The tables below present the balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 and 2022:


	2023
	Fair Value Measurements Using						Assets
(dollars in thousands)	Level 1		Level 2		Level 3		at Fair Value
Assets:

U.S. government sponsored agency securities	$	0	$	119,479	$	0	$	119,479
Mortgage-backed securities: residential	0		447,842		0		447,842

State and municipal securities	0		482,127		2,280		484,407
Total Available-for-Sale Securities	0		1,049,448		2,280		1,051,728
Mortgage banking derivative	0		47		0		47
Interest rate swap derivative	0		27,189		0		27,189
Total assets	$	0	$	1,076,684	$	2,280	$	1,078,964

Liabilities:
Mortgage banking derivative	$	0	$	11	$	0	$	11
Interest rate swap derivative	0		27,190		0		27,190
Total liabilities	$	0	$	27,201	$	0	$	27,201


	2022
	Fair Value Measurements Using						Assets
(dollars in thousands)	Level 1		Level 2		Level 3		at Fair Value
Assets:
U.S. Treasury securities	$	3,034	$	0	$	0	$	3,034
U.S. government sponsored agency securities	0		126,961		0		126,961
Mortgage-backed securities: residential	0		492,308		0		492,308

State and municipal securities	0		561,150		2,075		563,225
Total Available-for-Sale Securities	3,034		1,180,419		2,075		1,185,528
Mortgage banking derivative	0		43		0		43
Interest rate swap derivative	0		36,920		0		36,920
Total assets	$	3,034	$	1,217,382	$	2,075	$	1,222,491

Liabilities:
Mortgage banking derivative	$	0	$	0	$	0	$	0
Interest rate swap derivative	0		36,921		0		36,921
Total liabilities	$	0	$	36,921	$	0	$	36,921

The fair value of Level 3 available-for-sale securities was immaterial to warrant additional recurring fair value disclosures as of December 31, 2023 and 2022.

NOTE 5 – FAIR VALUE (continued)

The tables below present the amount of assets measured at fair value on a nonrecurring basis as of December 31, 2023 and 2022:


	2023
	Fair Value Measurements Using						Assets
(dollars in thousands)	Level 1		Level 2		Level 3		at Fair Value
Assets
Collateral dependent loans:
Commercial and industrial loans:
Working capital lines of credit loans	$	0	$	0	$	1,263	$	1,263
Non-working capital loans	0		0		3,374		3,374
Commercial real estate and multi-family residential loans:
Owner occupied loans	0		0		682		682
Agri-business and agricultural loans:
Loans secured by farmland	0		0		31		31




Total collateral dependent loans	$	0	$	0	$	5,350	$	5,350
Other real estate owned	0		0		384		384
Total assets	$	0	$	0	$	5,734	$	5,734


	2022
	Fair Value Measurements Using						Assets
(dollars in thousands)	Level 1		Level 2		Level 3		at Fair Value
Assets
Collateral dependent loans:
Commercial and industrial loans:
Working capital lines of credit loans	$	0	$	0	$	3,178	$	3,178
Non-working capital loans	0		0		8,354		8,354
Commercial real estate and multi-family residential loans:

Owner occupied loans	0		0		425		425
Agri-business and agricultural loans:
Loans secured by farmland	0		0		35		35




Total collateral dependent loans	$	0	$	0	$	11,992	$	11,992
Other real estate owned	0		0		100		100
Total assets	$	0	$	0	$	12,092	$	12,092

NOTE 5 – FAIR VALUE (continued)

The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2023:

(dollars in thousands)

Fair Value

Valuation Methodology

Unobservable Inputs

Average

Range of Inputs

Collateral dependent loans:

Commercial and industrial

4,637

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

64%

9%-99%

Collateral dependent loans:

Commercial real estate and multi-family residential

682

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

37%

9%-69%

Collateral dependent loans:

Loans secured by farmland

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

69%

Other real estate owned

384

Appraisals

Discount to reflect current market conditions and ultimate collectability

36%

NOTE 5 – FAIR VALUE (continued)

The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2022:

(dollars in thousands)

Fair Value

Valuation Methodology

Unobservable Inputs

Average

Range of Inputs

Collateral dependent loans:

Commercial and industrial

11,532

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

62%

29%-99%

Collateral dependent loans:

Commercial real estate

425

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

57%

37%-76%

Collateral dependent loans:

Loans secured by farmland

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

76%

Other real estate owned

100

Appraisals

Discount to reflect current market conditions and ultimate collectability

68%

NOTE 5 – FAIR VALUE (continued)

The following tables contain the estimated fair values and the related carrying values of the Company’s financial instruments at December 31, 2023 and 2022. Items which are not financial instruments are not included.


	2023
	Carrying		Estimated Fair Value
(dollars in thousands)	Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	151,824	$	151,824	$	0	$	0	$	151,824
Securities available-for-sale	1,051,728		0		1,049,448		2,280		1,051,728
Securities held-to-maturity	129,918		0		119,215		0		119,215
Real estate mortgages held-for-sale	1,158		0		1,158		0		1,158
Loans, net	4,844,562		0		0		4,694,532		4,694,532
Mortgage banking derivative	47		0		47		0		47
Interest rate swap derivative	27,189		0		27,189		0		27,189
Federal Reserve and Federal Home Loan Bank Stock	21,420		N/A		N/A		N/A		N/A
Accrued interest receivable	30,011		0		8,558		21,453		30,011
Financial Liabilities:
Certificates of deposit	1,016,821		0		1,010,172		0		1,010,172
All other deposits	4,703,704		4,703,704		0		0		4,703,704

Federal Home Loan Bank advances	50,000		50,000		0		0		50,000
Mortgage banking derivative	11		0		11		0		11
Interest rate swap derivative	27,190		0		27,190		0		27,190
Standby letters of credit	289		0		0		289		289
Accrued interest payable	20,893		753		20,140		0		20,893

NOTE 5 – FAIR VALUE (continued)


	2022
	Carrying		Estimated Fair Value
(dollars in thousands)	Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	130,282	$	129,069	$	1,213	$	0	$	130,282
Securities available-for-sale	1,185,528		3,034		1,180,419		2,075		1,185,528
Securities held-to-maturity	128,242		0		111,029		0		111,029
Real estate mortgages held-for-sale	357		0		372		0		372
Loans, net	4,637,790		0		0		4,454,678		4,454,678
Mortgage banking derivative	43		0		43		0		43
Interest rate swap derivative	36,920		0		36,920		0		36,920
Federal Reserve and Federal Home Loan Bank Stock	15,795		N/A		N/A		N/A		N/A
Accrued interest receivable	27,994		0		9,598		18,396		27,994
Financial Liabilities:
Certificates of deposit	626,186		0		621,206		0		621,206
All other deposits	4,834,434		4,834,434		0		0		4,834,434
Federal Funds purchased	22,000		22,000		0		0		22,000
Federal Home Loan Bank advances	275,000		275,000		0		0		275,000

Interest rate swap derivative	36,921		0		36,921		0		36,921
Standby letters of credit	249		0		0		249		249
Accrued interest payable	3,186		486		2,700		0		3,186

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Financial Effect of Loan Modifications (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Forgiveness	$ 4,428
Total Class of Financing Receivable	0.09%
Charge-offs	$ 7,332	$ 5,134	$ 5,983
Interest Rate Reduction
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Forgiveness	1,912
Commercial and Industrial Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Forgiveness	$ 4,428
Total Class of Financing Receivable	0.31%
Commercial and Industrial Loans \| Principal Forgiveness
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs	$ 3,700	$ 5,600
Commercial and Industrial Loans \| Interest Rate Reduction
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Forgiveness	1,912
Commercial and Industrial Loans \| Working capital lines of credit loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Forgiveness	$ 2,856
Total Class of Financing Receivable	0.47%
Commercial and Industrial Loans \| Working capital lines of credit loans \| Principal Forgiveness
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Forgiveness	$ 0
Commercial and Industrial Loans \| Working capital lines of credit loans \| Interest Rate Reduction
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Forgiveness	$ 1,912
Interest Rate Reduction	1.00%
Commercial and Industrial Loans \| Working capital lines of credit loans \| Interest Rate Reduction \| Minimum
Financing Receivable, Allowance for Credit Loss [Line Items]
Interest Rate Reduction	1.00%
Commercial and Industrial Loans \| Working capital lines of credit loans \| Interest Rate Reduction \| Maximum
Financing Receivable, Allowance for Credit Loss [Line Items]
Interest Rate Reduction	1.00%
Commercial and Industrial Loans \| Working capital lines of credit loans \| Extended Maturity \| Minimum
Financing Receivable, Allowance for Credit Loss [Line Items]
Term Extension	12 months
Commercial and Industrial Loans \| Working capital lines of credit loans \| Extended Maturity \| Maximum
Financing Receivable, Allowance for Credit Loss [Line Items]
Term Extension	120 months
Commercial and Industrial Loans \| Non-working capital loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Forgiveness	$ 1,572
Total Class of Financing Receivable	0.19%
Loans modified	$ 11,000
Commercial and Industrial Loans \| Non-working capital loans \| Principal Forgiveness
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Forgiveness	9,380
Commercial and Industrial Loans \| Non-working capital loans \| Interest Rate Reduction
Financing Receivable, Allowance for Credit Loss [Line Items]
Principal Forgiveness	$ 0
Commercial and Industrial Loans \| Non-working capital loans \| Interest Rate Reduction \| Minimum
Financing Receivable, Allowance for Credit Loss [Line Items]
Interest Rate Reduction	0.75%
Commercial and Industrial Loans \| Non-working capital loans \| Interest Rate Reduction \| Maximum
Financing Receivable, Allowance for Credit Loss [Line Items]
Interest Rate Reduction	1.00%
Commercial and Industrial Loans \| Non-working capital loans \| Extended Maturity \| Minimum
Financing Receivable, Allowance for Credit Loss [Line Items]
Term Extension	40 months
Commercial and Industrial Loans \| Non-working capital loans \| Extended Maturity \| Maximum
Financing Receivable, Allowance for Credit Loss [Line Items]
Term Extension	60 months
Commercial and Industrial Loans \| Non-working capital loans \| Payment Delay \| Minimum
Financing Receivable, Allowance for Credit Loss [Line Items]
Term Extension	40 months
Commercial and Industrial Loans \| Non-working capital loans \| Payment Delay \| Maximum
Financing Receivable, Allowance for Credit Loss [Line Items]
Term Extension	480 months

OFFSETTING ASSETS AND LIABILITIES

12 Months Ended

Dec. 31, 2023

OFFSETTING ASSETS AND LIABILITIES

OFFSETTING ASSETS AND LIABILITIES


	2023
	Gross Amounts of Recognized Assets/ Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
(dollars in thousands)							Financial Instruments		Cash Collateral Position		Net Amount
Assets
Interest Rate Swap Derivatives	$	27,189	$	0	$	27,189	$	0	$	(25,555)	$	1,634
Total Assets	$	27,189	$	0	$	27,189	$	0	$	(25,555)	$	1,634
Liabilities
Interest Rate Swap Derivatives	$	27,190	$	0	$	27,190	$	0	$	(90)	$	27,100
Total Liabilities	$	27,190	$	0	$	27,190	$	0	$	(90)	$	27,100


	2022
	Gross Amounts of Recognized Assets/ Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position
(dollars in thousands)							Financial Instruments		Cash Collateral Position		Net Amount
Assets
Interest Rate Swap Derivatives	$	36,920	$	0	$	36,920	$	0	$	(34,185)	$	2,735
Total Assets	$	36,920	$	0	$	36,920	$	0	$	(34,185)	$	2,735
Liabilities
Interest Rate Swap Derivatives	$	36,921	$	0	$	36,921	$	0	$	(90)	$	36,831
Total Liabilities	$	36,921	$	0	$	36,921	$	0	$	(90)	$	36,831

If an event of default occurs causing an early termination of an interest rate swap derivative, any early termination amount payable to one party by the other party may be reduced by set-off against any other amount payable by the one party to the other party. If a default in performance of any obligation of a repurchase agreement occurs, each party will set-off property held in respect of transactions against obligations owing in respect of any other transactions.

SECURITIES - Schedule of Available For Sale Securities By Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amortized Cost
Due in one year or less	$ 1,190
Due after one year through five years	8,011
Due after five years through ten years	40,627
Due after ten years	654,216
Total debt securities, gross	704,044
Mortgage-backed securities	522,275
Amortized Cost	1,226,319	$ 1,400,783
Fair Value
Due in one year or less	1,191
Due after one year through five years	7,421
Due after five years through ten years	38,730
Due after ten years	556,544
Total debt securities, gross	603,886
Mortgage-backed securities	447,842
Total debt securities	1,051,728	1,185,528
Amortized Cost
Due in one year or less	0
Due after one year through five years	0
Due after five years through ten years	0
Due after ten years	129,918
Total held-to-maturity securities, gross	129,918
Mortgage-backed securities	0
Amortized Cost	129,918
Fair Value
Due in one year or less	0
Due after one year through five years	0
Due after five years through ten years	0
Due after ten years	119,215
Total held-to-maturity securities, gross	119,215
Mortgage-backed securities	0
Fair value	$ 119,215	$ 111,029

STOCK BASED COMPENSATION - Summary Of Changes In Company's Nonvested Shares (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Restricted Stock
Shares
Beginning balance (in shares) \| shares	23,065
Granted (in shares) \| shares	40,109
Vested (in shares) \| shares	(14,026)
Forfeited (in shares) \| shares	(1,808)
Ending balance (in shares) \| shares	47,340
Weighted-Average Grant-Date Fair Value
Beginning balance (in USD per share) \| $ / shares	$ 76.13
Granted (in USD per share) \| $ / shares	63.36
Vested (in USD per share) \| $ / shares	61.84
Forfeited (in USD per share) \| $ / shares	73.32
Ending balance (in USD per share) \| $ / shares	$ 69.65
Performance Stock Units
Shares
Beginning balance (in shares) \| shares	304,621
Vested (in shares) \| shares	(107,789)
Forfeited (in shares) \| shares	(7,489)
Ending balance (in shares) \| shares	156,206
Weighted-Average Grant-Date Fair Value
Beginning balance (in USD per share) \| $ / shares	$ 57.79
Granted (in USD per share) \| $ / shares	69.56
Vested (in USD per share) \| $ / shares	45.65
Forfeited (in USD per share) \| $ / shares	68.32
Ending balance (in USD per share) \| $ / shares	$ 63.18
Performance Stock Units, Netting
Shares
Granted (in shares) \| shares	(33,137)

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY (Tables)

12 Months Ended

Dec. 31, 2023

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY

Schedule of Allowance For Loan Losses and Recorded Investment In Loans By Portfolio Segment

The following table presents the activity in the allowance for credit losses by portfolio segment for the year ended December 31, 2023, 2022 and 2021:


(dollars in thousands)	Commercial and Industrial		Commercial Real Estate and Multi-family Residential		Agri-business and Agricultural		Other Commercial		Consumer 1-4 Family Mortgage		Other Consumer		Unallocated		Total
2023
Beginning balance	$	35,290	$	27,394	$	4,429	$	917	$	3,001	$	1,021	$	554	$	72,606
Provision for credit losses	1,209		3,619		(279)		212		598		673		(182)		5,850
Loans charged-off	(6,341)		0		0		0		(163)		(828)		0		(7,332)
Recoveries	180		322		0		0		38		308		0		848
Net loans (charged-off) recovered	(6,161)		322		0		0		(125)		(520)		0		(6,484)
Ending balance	$	30,338	$	31,335	$	4,150	$	1,129	$	3,474	$	1,174	$	372	$	71,972


(dollars in thousands)	Commercial and Industrial		Commercial Real Estate and Multi-family Residential		Agri-business and Agricultural		Other Commercial		Consumer 1-4 Family Mortgage		Other Consumer		Unallocated		Total
2022
Beginning balance	$	30,595	$	26,535	$	5,034	$	1,146	$	2,866	$	1,147	$	450	$	67,773
Provision for credit losses	8,646		1,179		(605)		(229)		125		155		104		9,375
Loans charged-off	(4,022)		(597)		0		0		(42)		(473)		0		(5,134)
Recoveries	71		277		0		0		52		192		0		592
Net loans (charged-off) recovered	(3,951)		(320)		0		0		10		(281)		0		(4,542)
Ending balance	$	35,290	$	27,394	$	4,429	$	917	$	3,001	$	1,021	$	554	$	72,606


(dollars in thousands)	Commercial and Industrial		Commercial Real Estate and Multi-family Residential		Agri-business and Agricultural		Other Commercial		Consumer 1-4 Family Mortgage		Other Consumer		Unallocated		Total
2021
Beginning balance	$	28,333	$	22,907	$	3,043	$	416	$	2,619	$	951	$	3,139	$	61,408
Impact of adopting ASC 326	4,312		4,316		1,060		941		953		349		(2,881)		9,050
Provision for credit losses	1,966		(632)		611		(211)		(777)		(72)		192		1,077
Loans charged-off	(5,575)		(70)		0		0		(51)		(287)		0		(5,983)
Recoveries	1,559		14		320		0		122		206		0		2,221
Net loans (charged-off) recovered	(4,016)		(56)		320		0		71		(81)		0		(3,762)
Ending balance	$	30,595	$	26,535	$	5,034	$	1,146	$	2,866	$	1,147	$	450	$	67,773

Risk Category of Loans By Loan Segment and Origination


(dollars in thousands)	2023		2022		2021		2020		2019		Prior		Term Total		Revolving		Total
Commercial and industrial loans:
Working capital lines of credit loans:
Pass	$	193	$	1,876	$	2,214	$	1,132	$	0	$	50	$	5,465	$	532,086	$	537,551
Special Mention	0		0		0		0		0		0		0		46,498		46,498
Substandard	0		200		0		0		125		0		325		20,516		20,841


Total	193		2,076		2,214		1,132		125		50		5,790		599,100		604,890
Working capital lines of credit loans:
Current period gross write offs	0		0		75		0		139		0		214		327		541
Non-working capital loans:
Pass	199,071		224,333		85,273		49,999		28,773		10,501		597,950		171,264		769,214
Special Mention	4,038		9,577		1,051		2,498		2,306		4,298		23,768		5,477		29,245
Substandard	3,754		1,612		683		3,892		51		218		10,210		397		10,607

Not Rated	2,585		1,999		881		707		162		18		6,352		0		6,352
Total	209,448		237,521		87,888		57,096		31,292		15,035		638,280		177,138		815,418
Non-working capital loans:
Current period gross write offs	0		5,445		0		178		129		0		5,752		48		5,800
Commercial real estate and multi-family residential loans:
Construction and land development loans:
Pass	50,693		15,558		17,655		0		177		0		84,083		547,570		631,653




Total	50,693		15,558		17,655		0		177		0		84,083		547,570		631,653
Construction and land development loans:
Current period gross write offs	0		0		0		0		0		0		0		0		0
Owner occupied loans:
Pass	144,411		132,850		156,680		132,407		61,415		118,406		746,169		40,288		786,457
Special Mention	7,597		686		4,913		0		1,394		2,245		16,835		14,739		31,574
Substandard	362		250		3,325		1,474		345		1,161		6,917		0		6,917


Total	152,370		133,786		164,918		133,881		63,154		121,812		769,921		55,027		824,948
Owner occupied loans:
Current period gross write offs	0		0		0		0		0		0		0		0		0
Nonowner occupied loans:
Pass	123,633		158,415		112,582		134,050		87,288		66,755		682,723		27,860		710,583
Special Mention	4,503		0		6,257		0		0		2,246		13,006		0		13,006



Total	128,136		158,415		118,839		134,050		87,288		69,001		695,729		27,860		723,589
Nonowner occupied loans:
Current period gross write offs	0		0		0		0		0		0		0		0		0
Multi-family loans:
Pass	90,954		23,315		9,042		35,648		13,971		14,609		187,539		45,987		233,526
Special Mention	19,671		0		0		0		0		0		19,671		0		19,671



Total	110,625		23,315		9,042		35,648		13,971		14,609		207,210		45,987		253,197
Multi-family loans:
Current period gross write offs	0		0		0		0		0		0		0		0		0
Agri-business and agricultural loans:
Loans secured by farmland:
Pass	24,503		32,060		25,308		27,924		9,104		19,160		138,059		24,724		162,783

Substandard	0		0		0		0		0		100		100		0		100


Total	24,503		32,060		25,308		27,924		9,104		19,260		138,159		24,724		162,883
Loans secured by farmland:
Current period gross write offs	0		0		0		0		0		0		0		0		0
Loans for agricultural production:
Pass	28,657		13,589		27,175		25,504		3,533		10,429		108,887		116,406		225,293
Special Mention	0		0		187		0		0		0		187		500		687



Total	28,657		13,589		27,362		25,504		3,533		10,429		109,074		116,906		225,980
Loans for agricultural production:
Current period gross write offs	0		0		0		0		0		0		0		0		0
Other commercial loans:
Pass	7,058		26,918		33,247		13,684		90		7,332		88,329		29,819		118,148
Special Mention	0		0		0		0		0		2,419		2,419		0		2,419



Total	7,058		26,918		33,247		13,684		90		9,751		90,748		29,819		120,567
Other commercial loans:
Current period gross write offs	0		0		0		0		0		0		0		0		0
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans
Pass	9,910		10,541		12,486		8,614		3,924		4,625		50,100		8,330		58,430
Special Mention	0		0		0		519		0		0		519		0		519
Substandard	87		0		96		123		0		253		559		0		559

Not Rated	64,233		51,018		38,014		17,432		4,314		23,225		198,236		0		198,236
Total	74,230		61,559		50,596		26,688		8,238		28,103		249,414		8,330		257,744
Closed end first mortgage loans
Current period gross write offs	0		0		0		0		0		0		0		0		0


NOTE 4 – ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY (continued)
Open end and junior lien loans
Pass	557		137		491		335		0		6		1,526		8,689		10,215

Substandard	108		0		23		0		26		48		205		68		273

Not Rated	24,792		29,648		8,471		1,554		2,286		1,962		68,713		112,371		181,084
Total	25,457		29,785		8,985		1,889		2,312		2,016		70,444		121,128		191,572
Open end and junior lien loans
Current period gross write offs	0		50		14		0		0		0		64		99		163
Residential construction loans




Not Rated	1,525		2,982		1,515		839		263		1,220		8,344		0		8,344
Total	1,525		2,982		1,515		839		263		1,220		8,344		0		8,344
Residential construction loans
Current period gross write offs	0		0		0		0		0		0		0		0		0
Other consumer loans
Pass	1,082		789		1,391		301		0		0		3,563		11,894		15,457

Substandard	40		34		35		0		2		0		111		0		111

Not Rated	32,481		17,585		9,994		6,008		1,611		1,957		69,636		10,545		80,181
Total	33,603		18,408		11,420		6,309		1,613		1,957		73,310		22,439		95,749
Other consumer loans
Current period gross write offs	16		258		90		8		212		1		585		243		828

Total Loans	$	846,498	$	755,972	$	558,989	$	464,644	$	221,160	$	293,243	$	3,140,506	$	1,776,028	$	4,916,534

Total current period gross write offs	$	16	$	5,753	$	179	$	186	$	480	$	1	$	6,615	$	717	$	7,332

Aging of the Recorded Investment in Past Due Loans

The following table presents the aging of the amortized cost basis in past due loans as of December 31, 2023 and 2022 by class of loans and loans past due 90 days or more and still accruing by class of loan:


(dollars in thousands)	Loans Not Past Due		30-89 Days Past Due		Greater than 89 Days Past Due and Accruing		Total Accruing		Total Nonaccrual		Nonaccrual With No Allowance For Credit Loss		Total
2023
Commercial and industrial loans:
Working capital lines of credit loans	$	602,236	$	0	$	0	$	602,236	$	2,654	$	0	$	604,890
Non-working capital loans	805,305		1,372		0		806,677		8,741		244		815,418
Commercial real estate and multi-family residential loans:
Construction and land development loans	631,653		0		0		631,653		0		0		631,653
Owner occupied loans	821,701		0		0		821,701		3,247		1,161		824,948
Nonowner occupied loans	723,589		0		0		723,589		0		0		723,589
Multi-family loans	253,197		0		0		253,197		0		0		253,197
Agri-business and agricultural loans:
Loans secured by farmland	162,783		0		0		162,783		100		0		162,883
Loans for agricultural production	225,980		0		0		225,980		0		0		225,980
Other commercial loans	120,567		0		0		120,567		0		0		120,567
Consumer 1‑4 family mortgage loans:
Closed end first mortgage loans	256,016		1,142		27		257,185		559		329		257,744
Open end and junior lien loans	190,956		344		0		191,300		272		164		191,572
Residential construction loans	8,344		0		0		8,344		0		0		8,344
Other consumer loans	95,135		502		0		95,637		112		3		95,749
Total	$	4,897,462	$	3,360	$	27	$	4,900,849	$	15,685	$	1,901	$	4,916,534


(dollars in thousands)	Loans Not Past Due		30-89 Days Past Due		Greater than 89 Days Past Due and Accruing		Total Accruing		Total Nonaccrual		Nonaccrual With No Allowance For Credit Loss		Total
2022
Commercial and industrial loans:
Working capital lines of credit loans	$	649,529	$	68	$	0	$	649,597	$	1,442	$	0	$	651,039
Non-working capital loans	830,033		39		1		830,073		11,622		727		841,695
Commercial real estate and multi-family residential loans:
Construction and land development loans	515,168		0		0		515,168		0		0		515,168
Owner occupied loans	754,451		0		0		754,451		3,065		1,469		757,516
Nonowner occupied loans	705,662		0		0		705,662		0		0		705,662
Multi-family loans	196,941		0		0		196,941		0		0		196,941
Agri-business and agricultural loans:
Loans secured by farmland	201,033		0		0		201,033		145		0		201,178
Loans for agricultural production	230,989		0		0		230,989		0		0		230,989
Other commercial loans	113,341		0		0		113,341		0		0		113,341
Consumer 1‑4 family mortgage loans:
Closed end first mortgage loans	211,736		306		122		212,164		293		225		212,457
Open end and junior lien loans	176,758		436		0		177,194		188		188		177,382
Residential construction loans	19,170		0		0		19,170		0		0		19,170
Other consumer loans	87,333		316		0		87,649		209		6		87,858
Total	$	4,692,144	$	1,165	$	123	$	4,693,432	$	16,964	$	2,615	$	4,710,396

Amortized Cost Basis of Collateral Dependent Loans

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


(dollars in thousands)	Real Estate		General Business Assets		Other		Total
2023
Commercial and industrial loans:
Working capital lines of credit loans	$	50	$	2,454	$	0	$	2,504
Non-working capital loans	40		8,202		400		8,642
Commercial real estate and multi-family residential loans:
Owner occupied loans	595		1,474		1,161		3,230
Nonowner occupied loans	0		0		0		0
Agri-business and agricultural loans:
Loans secured by farmland	0		100		0		100
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans	559		0		0		559
Open end and junior lien loans	164		0		0		164
Other consumer loans	0		0		112		112
Total	$	1,408	$	12,230	$	1,673	$	15,311


(dollars in thousands)	Real Estate		General Business Assets		Other		Total
2022
Commercial and industrial loans:
Working capital lines of credit loans	$	50	$	5,402	$	0	$	5,452
Non-working capital loans	544		18,109		229		18,882
Commercial real estate and multi-family residential loans:
Owner occupied loans	413		1,491		1,161		3,065
Nonowner occupied loans	0		0		0		0
Agri-business and agricultural loans:
Loans secured by farmland	0		145		0		145
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans	2,030		0		0		2,030
Open end and junior lien loans	188		0		0		188
Other consumer loans	0		0		7		7
Total	$	3,225	$	25,147	$	1,397	$	29,769

Schedule of Financing Receivable, Troubled Debt Restructuring


(dollars in thousands)	Interest Rate Reduction		Combination Interest Rate Reduction and Term Extension		Combination Principal Forgiveness, Interest Rate Reduction, Term Extension and Payment Delay		Total Modifications		Total Class of Financing Receivable
Twelve Months Ended December 31, 2023
Commercial and industrial loans:
Working capital lines of credit loans	$	1,912	$	944	$	0	$	2,856	0.47	%
Non-working capital loans	0		0		1,572		1,572		0.19
Total commercial and industrial loans	1,912		944		1,572		4,428		0.31























Total loan modifications made to borrowers experiencing financial difficulty	$	1,912	$	944	$	1,572	$	4,428	0.09	%

The following table presents the financial effect of the loan modifications presented above for borrowers experiencing financial difficulty for the twelve months ended December 31, 2023:

(dollars in thousands)

Principal Forgiveness

Interest Rate Reduction

Term Extension

Payment Delay

Total Class of Financing Receivable

Twelve Months Ended December 31, 2023

Commercial and industrial loans:

Working capital lines of credit loans

Reduction of two variable Prime Rate lines of credit to 1.00% Fixed

Reduction of one variable line of credit from Prime plus 1.00% to 1.00% Fixed

Term extension for one variable rate line of credit from 12 months to 120 months

None

0.47

Non-working capital loans (1)

9,380

Reduction of one term loan from Prime plus 0.75% to 1.00% Fixed

Term extension from 40 months to 60 months

Extension of amortization period from 40 months to 480 months with excess cash flow recapture provisions for earlier repayment

0.19

OTHER BENEFIT PLANS (Details) - USD ($) $ in Thousands	12 Months Ended
OTHER BENEFIT PLANS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
401(K) Plan
Summary of Other Benefit Plan [Line Items]
Maximum employee contributions	6.00%
Plan expense	$ 2,000	$ 2,400	$ 2,300
Lake City Bank Deferred Compensation Plan
Summary of Other Benefit Plan [Line Items]
Contribution cost (benefit)	425	(1,000)	1,200
Deferred compensation liability	4,100	6,100
Executive
Summary of Other Benefit Plan [Line Items]
Potential cash payment under employment agreements	5,100
Director
Summary of Other Benefit Plan [Line Items]
Deferred compensation liability	5,800	5,600
Compensation expense	$ 432	$ 458	$ 482

EARNINGS PER SHARE - Earnings Per Share Computations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Basic earnings per common share:
Net income	$ 29,626	$ 25,252	$ 14,611	$ 24,278	$ 25,977	$ 28,525	$ 25,673	$ 23,642	$ 93,767	$ 103,817	$ 95,733
Weighted-average common shares outstanding (in shares)									25,604,751	25,528,328	25,475,994
Basic earnings per common share (in USD per share)	$ 1.16	$ 0.99	$ 0.57	$ 0.95	$ 1.02	$ 1.12	$ 1.00	$ 0.93	$ 3.67	$ 4.07	$ 3.76
Diluted earnings per common share:
Net income	$ 29,626	$ 25,252	$ 14,611	$ 24,278	$ 25,977	$ 28,525	$ 25,673	$ 23,642	$ 93,767	$ 103,817	$ 95,733
Weighted-average common shares outstanding (in shares)									25,604,751	25,528,328	25,475,994
Add: Dilutive effect of assumed exercises of stock options and awards (in shares)									118,414	184,210	144,111
Average shares and dilutive potential common shares (in shares)									25,723,165	25,712,538	25,620,105
Diluted earnings per common share (in USD per share)	$ 1.16	$ 0.98	$ 0.57	$ 0.94	$ 1.01	$ 1.11	$ 1.00	$ 0.92	$ 3.65	$ 4.04	$ 3.74
Number of antidilutive stock options (in shares)									0	0	0

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Related Party Transactions

Loans to principal officers, directors, and their affiliates as of December 31, 2023 and 2022 were as follows:


(dollars in thousands)	2023		2022
Beginning balance	$	113,435	$	99,865
New loans and advances	69,822		54,085
Effect of changes in related parties	230		(10,463)
Repayments and renewals	(51,006)		(30,052)
Ending balance	$	132,481	$	113,435

FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis

The tables below present the balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 and 2022:


	2023
	Fair Value Measurements Using						Assets
(dollars in thousands)	Level 1		Level 2		Level 3		at Fair Value
Assets:

U.S. government sponsored agency securities	$	0	$	119,479	$	0	$	119,479
Mortgage-backed securities: residential	0		447,842		0		447,842

State and municipal securities	0		482,127		2,280		484,407
Total Available-for-Sale Securities	0		1,049,448		2,280		1,051,728
Mortgage banking derivative	0		47		0		47
Interest rate swap derivative	0		27,189		0		27,189
Total assets	$	0	$	1,076,684	$	2,280	$	1,078,964

Liabilities:
Mortgage banking derivative	$	0	$	11	$	0	$	11
Interest rate swap derivative	0		27,190		0		27,190
Total liabilities	$	0	$	27,201	$	0	$	27,201


	2022
	Fair Value Measurements Using						Assets
(dollars in thousands)	Level 1		Level 2		Level 3		at Fair Value
Assets:
U.S. Treasury securities	$	3,034	$	0	$	0	$	3,034
U.S. government sponsored agency securities	0		126,961		0		126,961
Mortgage-backed securities: residential	0		492,308		0		492,308

State and municipal securities	0		561,150		2,075		563,225
Total Available-for-Sale Securities	3,034		1,180,419		2,075		1,185,528
Mortgage banking derivative	0		43		0		43
Interest rate swap derivative	0		36,920		0		36,920
Total assets	$	3,034	$	1,217,382	$	2,075	$	1,222,491

Liabilities:
Mortgage banking derivative	$	0	$	0	$	0	$	0
Interest rate swap derivative	0		36,921		0		36,921
Total liabilities	$	0	$	36,921	$	0	$	36,921

Schedule of Assets Measured at Fair Value on a Nonrecurring Basis

The tables below present the amount of assets measured at fair value on a nonrecurring basis as of December 31, 2023 and 2022:


	2023
	Fair Value Measurements Using						Assets
(dollars in thousands)	Level 1		Level 2		Level 3		at Fair Value
Assets
Collateral dependent loans:
Commercial and industrial loans:
Working capital lines of credit loans	$	0	$	0	$	1,263	$	1,263
Non-working capital loans	0		0		3,374		3,374
Commercial real estate and multi-family residential loans:
Owner occupied loans	0		0		682		682
Agri-business and agricultural loans:
Loans secured by farmland	0		0		31		31




Total collateral dependent loans	$	0	$	0	$	5,350	$	5,350
Other real estate owned	0		0		384		384
Total assets	$	0	$	0	$	5,734	$	5,734


	2022
	Fair Value Measurements Using						Assets
(dollars in thousands)	Level 1		Level 2		Level 3		at Fair Value
Assets
Collateral dependent loans:
Commercial and industrial loans:
Working capital lines of credit loans	$	0	$	0	$	3,178	$	3,178
Non-working capital loans	0		0		8,354		8,354
Commercial real estate and multi-family residential loans:

Owner occupied loans	0		0		425		425
Agri-business and agricultural loans:
Loans secured by farmland	0		0		35		35




Total collateral dependent loans	$	0	$	0	$	11,992	$	11,992
Other real estate owned	0		0		100		100
Total assets	$	0	$	0	$	12,092	$	12,092

Schedule of Fair Value Measured on Nonrecurring Basis Valuation Techniques

The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2023:

(dollars in thousands)

Fair Value

Valuation Methodology

Unobservable Inputs

Average

Range of Inputs

Collateral dependent loans:

Commercial and industrial

4,637

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

64%

9%-99%

Collateral dependent loans:

Commercial real estate and multi-family residential

682

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

37%

9%-69%

Collateral dependent loans:

Loans secured by farmland

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

69%

Other real estate owned

384

Appraisals

Discount to reflect current market conditions and ultimate collectability

36%

NOTE 5 – FAIR VALUE (continued)

The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2022:

(dollars in thousands)

Fair Value

Valuation Methodology

Unobservable Inputs

Average

Range of Inputs

Collateral dependent loans:

Commercial and industrial

11,532

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

62%

29%-99%

Collateral dependent loans:

Commercial real estate

425

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

57%

37%-76%

Collateral dependent loans:

Loans secured by farmland

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

76%

Other real estate owned

100

Appraisals

Discount to reflect current market conditions and ultimate collectability

68%

Schedule of Fair Values and the Related Carrying Values of Financial Instruments


	2023
	Carrying		Estimated Fair Value
(dollars in thousands)	Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	151,824	$	151,824	$	0	$	0	$	151,824
Securities available-for-sale	1,051,728		0		1,049,448		2,280		1,051,728
Securities held-to-maturity	129,918		0		119,215		0		119,215
Real estate mortgages held-for-sale	1,158		0		1,158		0		1,158
Loans, net	4,844,562		0		0		4,694,532		4,694,532
Mortgage banking derivative	47		0		47		0		47
Interest rate swap derivative	27,189		0		27,189		0		27,189
Federal Reserve and Federal Home Loan Bank Stock	21,420		N/A		N/A		N/A		N/A
Accrued interest receivable	30,011		0		8,558		21,453		30,011
Financial Liabilities:
Certificates of deposit	1,016,821		0		1,010,172		0		1,010,172
All other deposits	4,703,704		4,703,704		0		0		4,703,704

Federal Home Loan Bank advances	50,000		50,000		0		0		50,000
Mortgage banking derivative	11		0		11		0		11
Interest rate swap derivative	27,190		0		27,190		0		27,190
Standby letters of credit	289		0		0		289		289
Accrued interest payable	20,893		753		20,140		0		20,893

NOTE 5 – FAIR VALUE (continued)


	2022
	Carrying		Estimated Fair Value
(dollars in thousands)	Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	130,282	$	129,069	$	1,213	$	0	$	130,282
Securities available-for-sale	1,185,528		3,034		1,180,419		2,075		1,185,528
Securities held-to-maturity	128,242		0		111,029		0		111,029
Real estate mortgages held-for-sale	357		0		372		0		372
Loans, net	4,637,790		0		0		4,454,678		4,454,678
Mortgage banking derivative	43		0		43		0		43
Interest rate swap derivative	36,920		0		36,920		0		36,920
Federal Reserve and Federal Home Loan Bank Stock	15,795		N/A		N/A		N/A		N/A
Accrued interest receivable	27,994		0		9,598		18,396		27,994
Financial Liabilities:
Certificates of deposit	626,186		0		621,206		0		621,206
All other deposits	4,834,434		4,834,434		0		0		4,834,434
Federal Funds purchased	22,000		22,000		0		0		22,000
Federal Home Loan Bank advances	275,000		275,000		0		0		275,000

Interest rate swap derivative	36,921		0		36,921		0		36,921
Standby letters of credit	249		0		0		249		249
Accrued interest payable	3,186		486		2,700		0		3,186

COMMITMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES - Interest Rate Ranges On Commitments And Open Ended Revolving Lines Of Credit (Details)	Dec. 31, 2023	Dec. 31, 2022
Total commercial loans \| Minimum
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	1.00%	1.99%
Variable Rate	1.63%	1.63%
Total commercial loans \| Maximum
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	14.50%	14.50%
Variable Rate	14.50%	13.00%
Real estate mortgage loans \| Minimum
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate		0.00%
Variable Rate	4.63%	3.13%
Real estate mortgage loans \| Maximum
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	7.38%	7.00%
Variable Rate	13.50%	12.50%
Total consumer loans
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	15.00%	15.00%
Total consumer loans \| Minimum
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Variable Rate	8.50%	7.00%
Total consumer loans \| Maximum
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Variable Rate	15.00%	15.00%

FAIR VALUE - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets	Other Assets
Mortgage banking derivative	$ 27,189	$ 36,920
Liabilities:
Derivative liability, location	Other liabilities	Other liabilities
Mortgage banking derivative	$ 27,190	$ 36,921
Fair Value, Measurements, Recurring
Assets:
U.S. Treasury securities		3,034
U.S. government sponsored agency securities	119,479	126,961
Mortgage-backed securities: residential	447,842	492,308
State and municipal securities	484,407	563,225
Total Available-for-Sale Securities	1,051,728	1,185,528
Mortgage banking derivative	47	43
Interest rate swap derivative	27,189	36,920
Total assets	1,078,964	1,222,491
Liabilities:
Mortgage banking derivative	11	0
Interest rate swap derivative	27,190	36,921
Total liabilities	27,201	36,921
Level 1 \| Fair Value, Measurements, Recurring
Assets:
U.S. Treasury securities		3,034
U.S. government sponsored agency securities	0	0
Mortgage-backed securities: residential	0	0
State and municipal securities	0	0
Total Available-for-Sale Securities	0	3,034
Mortgage banking derivative	0	0
Interest rate swap derivative	0	0
Total assets	0	3,034
Liabilities:
Mortgage banking derivative	0	0
Interest rate swap derivative	0	0
Total liabilities	0	0
Level 2 \| Fair Value, Measurements, Recurring
Assets:
U.S. Treasury securities		0
U.S. government sponsored agency securities	119,479	126,961
Mortgage-backed securities: residential	447,842	492,308
State and municipal securities	482,127	561,150
Total Available-for-Sale Securities	1,049,448	1,180,419
Mortgage banking derivative	47	43
Interest rate swap derivative	27,189	36,920
Total assets	1,076,684	1,217,382
Liabilities:
Mortgage banking derivative	11	0
Interest rate swap derivative	27,190	36,921
Total liabilities	27,201	36,921
Level 3 \| Fair Value, Measurements, Recurring
Assets:
U.S. Treasury securities		0
U.S. government sponsored agency securities	0	0
Mortgage-backed securities: residential	0	0
State and municipal securities	2,280	2,075
Total Available-for-Sale Securities	2,280	2,075
Mortgage banking derivative	0	0
Interest rate swap derivative	0	0
Total assets	2,280	2,075
Liabilities:
Mortgage banking derivative	0	0
Interest rate swap derivative	0	0
Total liabilities	$ 0	$ 0

BORROWINGS - Short-Term Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Federal Home Loan Bank of Indianapolis
Short-term Debt [Line Items]
Total FHLB advances	$ 50,000	$ 275,000

PARENT COMPANY STATEMENTS - CONDENSED STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 29,626	$ 25,252	$ 14,611	$ 24,278	$ 25,977	$ 28,525	$ 25,673	$ 23,642	$ 93,767	$ 103,817	$ 95,733
Adjustments to net cash from operating activities:
Net cash from operating activities									113,981	169,342	113,768
Cash flows from investing activities:
Net cash from investing activities									(54,932)	(626,524)	(331,546)
Cash flows from financing activities:
Proceeds from (payments on) short-term borrowings									(22,000)	22,000	(10,500)
Purchase of treasury stock									(575)	(579)	(559)
Sales of treasury stock									405	221	115
Net cash from financing activities									(37,507)	(95,776)	651,091
Net change in cash and cash equivalents									21,542	(552,958)	433,313
Beginning balance				130,282				683,240	130,282	683,240	249,927
Ending balance	151,824				130,282				151,824	130,282	683,240
Reportable Legal Entities \| Parent Company
Cash flows from operating activities:
Net income									93,767	103,817	95,733
Adjustments to net cash from operating activities:
Equity in undistributed income of subsidiaries									(48,785)	(67,951)	(53,120)
Other changes									16,601	6,157	5,177
Net cash from operating activities									61,583	42,023	47,790
Cash flows from investing activities:
Return of capital from subsidiary									3,602	0	0
Net cash from investing activities									3,602	0	0
Cash flows from financing activities:
Proceeds from (payments on) short-term borrowings									0	0	(10,500)
Payments related to equity incentive plans									(3,135)	(1,780)	(1,914)
Purchase of treasury stock									(575)	(579)	(559)
Sales of treasury stock									405	221	115
Dividends paid									(47,094)	(40,838)	(34,640)
Net cash from financing activities									(50,399)	(42,976)	(47,498)
Net change in cash and cash equivalents									14,786	(953)	292
Beginning balance				$ 2,340				$ 3,293	2,340	3,293	3,001
Ending balance	$ 17,126				$ 2,340				$ 17,126	$ 2,340	$ 3,293

LOANS - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Investment loans excluding accrued interest	$ 21,500	$ 18,400
Residential real estate loans in process of foreclosure	$ 238	$ 306

LOANS

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

LOANS

Total loans outstanding as of the years ended December 31, 2023 and 2022 consisted of the following:


(dollars in thousands)	2023		2022
Commercial and industrial loans:
Working capital lines of credit loans	$	604,893	$	650,948
Non-working capital loans	815,871		842,101
Total commercial and industrial loans	1,420,764		1,493,049

Commercial real estate and multi-family residential loans:
Construction and land development loans	634,435		517,664
Owner occupied loans	825,464		758,091
Nonowner occupied loans	724,101		706,107
Multi-family loans	253,534		197,232
Total commercial real estate and multi-family residential loans	2,437,534		2,179,094

Agri-business and agricultural loans:
Loans secured by farmland	162,890		201,200
Loans for agricultural production	225,874		230,888
Total agri-business and agricultural loans	388,764		432,088

Other commercial loans	120,726		113,593
Total commercial loans	4,367,788		4,217,824

Consumer 1-4 family mortgage loans:
Closed end first mortgage loans	258,103		212,742
Open end and junior lien loans	189,663		175,575
Residential construction and land development loans	8,421		19,249
Total consumer 1-4 family mortgage loans	456,187		407,566

Other consumer loans	96,022		88,075
Total consumer loans	552,209		495,641
Gross loans	4,919,997		4,713,465
Less: Allowance for credit losses	(71,972)		(72,606)
Net deferred loan fees	(3,463)		(3,069)
Loans, net	$	4,844,562	$	4,637,790

The recorded investment in loans does not include accrued interest, which totaled $21.5 million and $18.4 million at December 31, 2023 and 2022, respectively.

The Company had $238,000 and $306,000 in residential real estate loans in process of foreclosure as of December 31, 2023 and 2022, respectively.

INCOME TAXES - Computation of Differences Between Financial Statement Tax Expense And Amounts (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income taxes at statutory federal rate of 21%									$ 23,170	$ 26,284	$ 24,663
Increase (decrease) in taxes resulting from:
Tax exempt income									(4,226)	(4,438)	(2,822)
Nondeductible expense									269	159	116
State income tax, net of federal tax effect									(716)	671	1,288
Captive insurance premium income									(261)	(417)	(303)
Tax credits									(713)	(586)	(578)
Bank owned life insurance									(658)	(78)	(596)
Long-term incentive plan and deferred compensation									(715)	(530)	(274)
Nondeductible compensation expense									784	181	156
Other									(368)	101	61
Total income tax expense	$ 6,436	$ 4,479	$ 1,880	$ 3,771	$ 4,987	$ 6,237	$ 5,584	$ 4,539	$ 16,566	$ 21,347	$ 21,711

PENSION AND OTHER POSTRETIREMENT PLANS - Amounts Recognized in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ (34)	$ (194)	$ (475)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	478	538
SERP Benefits
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ 502	$ 487

OTHER BENEFIT PLANS	12 Months Ended
OTHER BENEFIT PLANS	Dec. 31, 2023
OTHER BENEFIT PLANS
OTHER BENEFIT PLANS	OTHER BENEFIT PLANS 401(k) Plan The Company maintains a 401(k) profit sharing plan for all employees meeting certain age and service requirements. The 401(k) plan allows employee contributions up to the maximum amount allowable under the Internal Revenue Code, which are matched based upon the percentage of budgeted net income earned during the year on the first 6% of the compensation contributed. The expense recognized from matching was $2.0 million, $2.4 million and $2.3 million in 2023, 2022 and 2021, respectively. Deferred Compensation Plan Effective January 1, 2004, the Company adopted the Lake City Bank Deferred Compensation Plan. The purpose of the deferred compensation plan is to extend full 401(k) type retirement benefits to certain individuals without regard to statutory limitations under tax qualified plans. A liability is accrued by the Company for its obligation under this plan. The expense (benefit) recognized was $425,000, ($1.0) million and $1.2 million during the years ended December 31, 2023, 2022 and 2021, respectively. This resulted in a deferred compensation liability of $4.1 million and $6.1 million as of year end 2023 and 2022, respectively. The deferred compensation plan is funded solely by participant contributions and does not receive a Company match. Employee Agreements Under employment agreements with certain executives, certain events leading to separation from the Company could result in cash payments totaling $5.1 million as of December 31, 2023. On December 31, 2023, no amounts were accrued on these contingent obligations. Directors’ Deferred Compensation and Cash Plans The Company maintains a directors’ deferred compensation plan and a cash plan. The amount owed to directors for fees under the deferred directors’ compensation and cash plans as of December 31, 2023 and 2022 was $5.8 million and $5.6 million, respectively. The related expense for the deferred directors’ compensation and cash plans for the years ended December 31, 2023, 2022 and 2021 was $432,000, $458,000 and $482,000, respectively.

LEASES - Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating cash outflows from operating leases	$ 724	$ 667	$ 536
Weighted-average remaining lease term - operating leases	6 years 3 months 18 days	7 years 3 months 18 days	7 years 10 months 24 days
Weighted average discount rate - operating leases	2.50%	2.50%	2.80%

RELATED PARTY TRANSACTIONS - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Deposits	$ 5,720,525	$ 5,460,620
Investment in limited partnerships	13,000	12,200
Investment banking, advisory, brokerage, and underwriting fees and commissions	9,080	8,636	$ 8,750
Related Party
Related Party Transaction [Line Items]
Deposits	22,500	16,200
Investment in limited partnerships	3,000	2,300
Equity method investment, remaining commitments	2,300	2,800
Investment banking, advisory, brokerage, and underwriting fees and commissions	$ 25	$ 25

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2023

RELATED PARTY TRANSACTIONS

Loans to principal officers, directors, and their affiliates as of December 31, 2023 and 2022 were as follows:


(dollars in thousands)	2023		2022
Beginning balance	$	113,435	$	99,865
New loans and advances	69,822		54,085
Effect of changes in related parties	230		(10,463)
Repayments and renewals	(51,006)		(30,052)
Ending balance	$	132,481	$	113,435

Deposits from principal officers, directors, and their affiliates at year end 2023 and 2022 were $22.5 million and $16.2 million, respectively.

The Company and Bank are an investor in certain funds managed by Centerfield Capital (“Centerfield”), a private equity investment firm. Faraz Abbasi, a director of the Company, is a Managing Partner and an owner of Centerfield. As of December 31, 2023 and 2022, the Company had an aggregate investment balance of approximately $3.0 million and $2.3 million, respectively, in such funds, which are included in other assets on the consolidated balance sheet, and had remaining commitments to invest up to approximately $2.3 million and $2.8 million, respectively. Under the terms of the applicable funds, Centerfield is entitled to customary management fees with respect to the amounts under management and investment gains, and it is estimated that Mr. Abbasi’s interest in such fees was less than $25,000 annually for the years ended December 31, 2023 and 2022.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

PENSION AND OTHER POSTRETIREMENT PLANS - Schedule of Allocation of Plan Assets (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Expected Long-Term Rate of Return	8.85%
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Expected Long-Term Rate of Return	3.00%
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at Year End	100.00%	100.00%
Weighted Average Expected Long-Term Rate of Return	6.50%	6.50%	6.50%
Pension Benefits \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at Year End	63.00%	60.00%
Weighted Average Expected Long-Term Rate of Return	8.85%
Pension Benefits \| Equity securities \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	55.00%
Pension Benefits \| Equity securities \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	65.00%
Pension Benefits \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at Year End	34.00%	39.00%
Weighted Average Expected Long-Term Rate of Return	3.00%
Pension Benefits \| Debt securities \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	35.00%
Pension Benefits \| Debt securities \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	45.00%
Pension Benefits \| Other
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at Year End	3.00%	1.00%
Weighted Average Expected Long-Term Rate of Return	0.10%
Pension Benefits \| Other \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	5.00%
Pension Benefits \| Other \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	10.00%
SERP Benefits
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at Year End	100.00%	100.00%
Weighted Average Expected Long-Term Rate of Return	6.50%	6.50%	6.50%
SERP Benefits \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at Year End	65.00%	62.00%
Weighted Average Expected Long-Term Rate of Return	8.85%
SERP Benefits \| Equity securities \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	55.00%
SERP Benefits \| Equity securities \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	65.00%
SERP Benefits \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at Year End	33.00%	35.00%
Weighted Average Expected Long-Term Rate of Return	3.00%
SERP Benefits \| Debt securities \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	35.00%
SERP Benefits \| Debt securities \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	45.00%
SERP Benefits \| Other
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at Year End	2.00%	3.00%
Weighted Average Expected Long-Term Rate of Return	0.10%
SERP Benefits \| Other \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	5.00%
SERP Benefits \| Other \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Target Allocation	10.00%

FAIR VALUE - Estimated Fair Values and the Related Carrying Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial Assets:
Securities held-to-maturity	$ 119,215	$ 111,029
Carrying Value
Financial Assets:
Cash and cash equivalents	151,824	130,282
Securities available-for-sale	1,051,728	1,185,528
Securities held-to-maturity	129,918	128,242
Real estate mortgages held-for-sale	1,158	357
Loans, net	4,844,562	4,637,790
Mortgage banking derivative	47	43
Interest rate swap derivative	27,189	36,920
Federal Reserve and Federal Home Loan Bank Stock	21,420	15,795
Accrued interest receivable	30,011	27,994
Financial Liabilities:
Certificates of deposit	1,016,821	626,186
All other deposits	4,703,704	4,834,434
Federal Funds purchased		22,000
Federal Home Loan Bank advances	50,000	275,000
Mortgage banking derivative	11
Fair value of interest rate swap liability	27,190	36,921
Standby letters of credit	289	249
Accrued interest payable	20,893	3,186
Estimated Fair Value
Financial Assets:
Cash and cash equivalents	151,824	130,282
Securities available-for-sale	1,051,728	1,185,528
Securities held-to-maturity	119,215	111,029
Real estate mortgages held-for-sale	1,158	372
Loans, net	4,694,532	4,454,678
Mortgage banking derivative	47	43
Interest rate swap derivative	27,189	36,920
Accrued interest receivable	30,011	27,994
Financial Liabilities:
Certificates of deposit	1,010,172	621,206
All other deposits	4,703,704	4,834,434
Federal Funds purchased		22,000
Federal Home Loan Bank advances	50,000	275,000
Mortgage banking derivative	11
Fair value of interest rate swap liability	27,190	36,921
Standby letters of credit	289	249
Accrued interest payable	20,893	3,186
Level 1 \| Estimated Fair Value
Financial Assets:
Cash and cash equivalents	151,824	129,069
Securities available-for-sale	0	3,034
Securities held-to-maturity	0	0
Real estate mortgages held-for-sale	0	0
Loans, net	0	0
Mortgage banking derivative	0	0
Interest rate swap derivative	0	0
Accrued interest receivable	0	0
Financial Liabilities:
Certificates of deposit	0	0
All other deposits	4,703,704	4,834,434
Federal Funds purchased		22,000
Federal Home Loan Bank advances	50,000	275,000
Mortgage banking derivative	0
Fair value of interest rate swap liability	0	0
Standby letters of credit	0	0
Accrued interest payable	753	486
Level 2 \| Estimated Fair Value
Financial Assets:
Cash and cash equivalents	0	1,213
Securities available-for-sale	1,049,448	1,180,419
Securities held-to-maturity	119,215	111,029
Real estate mortgages held-for-sale	1,158	372
Loans, net	0	0
Mortgage banking derivative	47	43
Interest rate swap derivative	27,189	36,920
Accrued interest receivable	8,558	9,598
Financial Liabilities:
Certificates of deposit	1,010,172	621,206
All other deposits	0	0
Federal Funds purchased		0
Federal Home Loan Bank advances	0	0
Mortgage banking derivative	11
Fair value of interest rate swap liability	27,190	36,921
Standby letters of credit	0	0
Accrued interest payable	20,140	2,700
Level 3 \| Estimated Fair Value
Financial Assets:
Cash and cash equivalents	0	0
Securities available-for-sale	2,280	2,075
Securities held-to-maturity	0	0
Real estate mortgages held-for-sale	0	0
Loans, net	4,694,532	4,454,678
Mortgage banking derivative	0	0
Interest rate swap derivative	0	0
Accrued interest receivable	21,453	18,396
Financial Liabilities:
Certificates of deposit	0	0
All other deposits	0	0
Federal Funds purchased		0
Federal Home Loan Bank advances	0	0
Mortgage banking derivative	0
Fair value of interest rate swap liability	0	0
Standby letters of credit	289	249
Accrued interest payable	$ 0	$ 0

PENSION AND OTHER POSTRETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Changes in Projected Benefit Obligations and Plan Assets

Information as to the Company’s employee benefit plans at December 31, 2023 and 2022 is as follows:


	Pension Benefits				SERP Benefits
(dollars in thousands)	2023		2022		2023		2022
Change in benefit obligation:
Beginning benefit obligation	$	1,546	$	2,298	$	700	$	867
Interest cost	75		53		33		20
Actuarial (gain) loss	(112)		(611)		93		(52)
Benefits paid	(12)		(194)		(133)		(135)
Ending benefit obligation	1,497		1,546		693		700

Change in plan assets (primarily equity and fixed income investments and money market funds), at fair value:
Beginning plan assets	1,820		2,303		606		848
Actual return	232		(289)		73		(107)
Employer contribution	0		0		0		0
Benefits paid	(217)		(194)		(133)		(135)
Ending plan assets	1,835		1,820		546		606
Funded status at end of year	$	338	$	274	$	(147)	$	(94)

Schedule of Amounts Recognized in Balance Sheet

Amounts recognized in the consolidated balance sheets consist of:


	Pension Benefits				SERP Benefits
(dollars in thousands)	2023		2022		2023		2022
Funded status included in other liabilities	$	338	$	274	$	(147)	$	(94)

Schedule of Amounts Recognized in Accumulated Other Comprehensive Income

Amounts recognized in accumulated other comprehensive income consist of:


	Pension Benefits				SERP Benefits
(dollars in thousands)	2023		2022		2023		2022
Net actuarial loss	$	478	$	538	$	502	$	487

Schedule of Components of Net Periodic Benefit Cost

Net period benefit cost and other amounts recognized in other comprehensive income (loss) include the following:


	Pension Benefits						SERP Benefits
(dollars in thousands)	2023		2022		2021		2023		2022		2021
Net pension expense:
Service cost	$	0	$	0	$	0	$	0	$	0	$	0
Interest cost	75		53		52		33		20		18
Expected return on plan assets	(123)		(130)		(133)		(38)		(45)		(47)
Recognized net actuarial (gain) loss	18		99		160		42		45		82
Settlement cost	27		23		65		0		0		0
Net pension expense	$	(3)	$	45	$	144	$	37	$	20	$	53

Net (gain) loss	$	(43)	$	(215)	$	(350)	$	56	$	100	$	(40)
Amortization of net loss	(17)		(99)		(160)		(42)		(45)		(82)
Total recognized in other comprehensive income (loss)	(60)		(314)		(510)		14		55		(122)
Total recognized in net pension expense and other comprehensive income (loss)	$	(63)	$	(269)	$	(366)	$	51	$	75	$	(69)

Schedule of Assumptions Used in Calculating the Net Benefit Obligation


	Pension Benefits						SERP Benefits
	2023		2022		2021		2023		2022		2021
The following assumptions were used in calculating the net benefit obligation:
Weighted average discount rate	4.83	%	5.03	%	2.49	%	4.83	%	5.03	%	2.49	%
Rate of increase in future compensation	N/A		N/A		N/A		N/A		N/A		N/A
Lump sum assumed interest rates First 5 years	5.77	%	5.10	%	0.87	%	N/A		N/A		N/A
Next 15 years	6.14	%	5.83	%	2.74	%	N/A		N/A		N/A
All future years	6.19	%	5.68	%	3.16	%	N/A		N/A		N/A

The following assumptions were used in calculating the net pension expense:

Weighted average discount rate	5.03	%	2.49	%	2.08	%	5.03	%	2.49	%	2.08	%
Rate of increase in future compensation	N/A		N/A		N/A		N/A		N/A		N/A
Expected long-term rate of return	6.50	%	6.50	%	6.50	%	6.50	%	6.50	%	6.50	%

Schedule of Allocation of Plan Assets

The Company’s pension plan asset allocation at year end 2023 and 2022, target allocation for 2024, and expected long-term rate of return by asset category are as follows:


	Target Allocation				Percentage of Plan Assets at Year End				Weighted Average Expected Long-Term Rate of Return
Asset Category	2024				2023		2022
Equity securities	55	-	65	%	63	%	60	%	8.85	%
Debt securities	35	-	45	%	34	%	39	%	3.00	%
Other	5	-	10	%	3	%	1	%	0.10	%
Total					100	%	100	%	6.50	%

The Company’s SERP plan asset allocation at year end 2023 and 2022, target allocation for 2024, and expected long-term rate of return by asset category are as follows:


	Target Allocation				Percentage of Plan Assets at Year End				Weighted Average Expected Long-Term Rate of Return
Asset Category	2024				2023		2022
Equity securities	55	-	65	%	65	%	62	%	8.85	%
Debt securities	35	-	45	%	33	%	35	%	3.00	%
Other	5	-	10	%	2	%	3	%	0.10	%
Total					100	%	100	%	6.50	%

Schedule Of Fair Values Of Pension Plan and Postretirement Plan Assets By Asset Category

The fair values of the Company’s pension plan assets at December 31, 2023, by asset category are as follows:


Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(dollars in thousands)
Equity securities - US large cap common stocks	$	763	$	763	$	0	$	0
Equity securities - US mid cap stock mutual funds	44		44		0		0
Equity securities - US small cap stock mutual funds	135		135		0		0
Equity securities - international stock mutual funds	143		143		0		0
Equity securities - emerging markets stock mutual funds	68		68		0		0
Debt securities - intermediate term bond mutual funds	373		373		0		0
Debt securities - short term bond mutual funds	153		153		0		0
Debt securities - high yield bond mutual funds	18		18		0		0
Debt securities - nontraditional bond mutual funds	12		12		0		0
Debt securities - bank loan mutual funds	35		35		0		0
Debt securities - preferred stock mutual funds	36		36		0		0
Cash - money market account	55		55		0		0
Total	$	1,835	$	1,835	$	0	$	0

The fair values of the Company’s pension plan assets at December 31, 2022, by asset category are as follows:


Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2 )		Significant Unobservable Inputs (Level 3)
(dollars in thousands)
Equity securities - US large cap common stocks	$	718	$	718	$	0	$	0
Equity securities - US mid cap stock mutual funds	43		43		0		0
Equity securities - US small cap stock mutual funds	131		131		0		0
Equity securities - international stock mutual funds	158		158		0		0
Equity securities - emerging markets stock mutual funds	34		34		0		0
Debt securities - intermediate term bond mutual funds	232		232		0		0
Debt securities - short term bond mutual funds	484		484		0		0
Cash - money market account	20		20		0		0
Total	$	1,820	$	1,820	$	0	$	0

The fair values of the Company’s SERP assets at December 31, 2023, by asset category are as follows:


Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(dollars in thousands)
Equity securities - US large cap common stocks	$	236	$	236	$	0	$	0
Equity securities - US mid cap stock mutual funds	42		42		0		0
Equity securities - US small cap stock mutual funds	13		13		0		0
Equity securities - emerging markets stock mutual funds	20		20		0		0
Equity securities - international stock mutual funds	45		45		0		0
Debt securities - intermediate term bond mutual funds	107		107		0		0
Debt securities - short term bond mutual funds	44		44		0		0
Debt securities - high yield bond mutual funds	5		5		0		0
Debt securities - nontraditional bond mutual funds	4		4		0		0
Debt securities - bank loan mutual funds	10		10		0		0
Debt securities - preferred stock mutual funds	10		10		0		0
Cash - money market account	10		10		0		0
Total	$	546	$	546	$	0	$	0

The fair values of the Company’s SERP assets at December 31, 2022, by asset category are as follows:


Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(dollars in thousands)
Equity securities - US large cap common stocks	$	249	$	249	$	0	$	0
Equity securities - US mid cap stock mutual funds	16		16		0		0
Equity securities - US small cap stock mutual funds	43		43		0		0
Equity securities - emerging markets stock mutual funds	12		12		0		0
Equity securities - international stock mutual funds	57		57		0		0
Debt securities - intermediate term bond mutual funds	63		63		0		0
Debt securities - short term bond mutual funds	149		149		0		0
Cash - money market account	17		17		0		0
Total	$	606	$	606	$	0	$	0

Schedule of Expected Benefit Payments

The following benefit payments are expected to be paid over the next ten years:


Plan Year	Pension Benefits		SERP Benefits
(dollars in thousands)
2024	$	185	$	129
2025	176		120
2026	186		109
2027	132		97
2028	132		84
2029-2033	491		232

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Principles of Consolidation: The consolidated financial statements include Lakeland Financial Corporation (the “Holding Company”) and its wholly owned subsidiary, Lake City Bank (the “Bank”), referred to as (the "Company"). On December 18, 2006, LCB Investments II, Inc. was formed as a wholly owned subsidiary of the Bank incorporated in Nevada to manage a portion of the Bank’s investment portfolio beginning in 2007. On December 21, 2006, LCB Funding, Inc., a real estate investment trust incorporated in Maryland, was formed as a wholly owned subsidiary of LCB Investments II, Inc. On December 28, 2012, LCB Risk Management, Inc., a captive insurance company incorporated in Nevada, was formed as a wholly owned subsidiary of the Holding Company. LCB Risk Management, Inc. was dissolved as a corporate entity on December 18, 2023. All assets of the subsidiary were distributed to the Holding Company upon decommissioning. All intercompany transactions and balances are eliminated in consolidation. The Company provides financial services through the Bank, a full-service commercial bank with 53 branch offices in fifteen counties in Northern and Central Indiana. The Company provides commercial, retail, trust and investment services to its customers. Commercial products include commercial loans and technology-driven solutions to meet commercial customers’ treasury management needs such as mobile business banking and online treasury management services. Retail banking clients are provided a wide array of traditional retail banking services, including lending, deposit and investment services. Retail lending programs are focused on mortgage loans, home equity lines of credit and traditional retail installment loans. Retail customers utilize the Lake City Bank Digital application to access and transact banking transactions. The Company provides credit card services to retail and commercial customers through its retail card program and merchant processing activity. The Company provides wealth advisory and trust clients with traditional personal and corporate trust services. The Company also provides retail brokerage services, including an array of financial and investment products such as annuities and life insurance. Other financial instruments, which represent potential concentrations of credit risk, include deposit accounts in other financial institutions. Use of Estimates: To prepare financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”), management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided and future results could differ. Cash Flows: Cash and cash equivalents include cash, demand deposits in other financial institutions and short-term investments and certificates of deposit with maturities of 90 days or less. Cash flows are reported net for customer loan and deposit transactions, and certain short-term borrowings. Securities: Securities are classified as available-for-sale when they might be sold before maturity. Securities available-for-sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income (loss), net of tax. Securities are classified as held-to-maturity and carried at amortized cost when management has the positive intent and ability to hold them to maturity. Purchase premiums or discounts are recognized in interest income using the interest method over the terms of the securities or over estimated lives for mortgage-backed securities. Gains and losses on sales are based on the amortized cost of the security sold and recorded on the trade date. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, nature of the security, the underlying collateral, and the financial condition of the issuer, among other factors. If this assessment indicates a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and a valuation allowance for securities losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through a valuation allowance for securities losses is recognized in other comprehensive income (loss). Changes in the valuation allowance for securities losses are recorded as a component of credit loss expense. Losses are charged against the valuation allowance for securities losses when management believes the uncollectibility of the security is confirmed or when either criteria regarding intent or requirement to sell is met. A portion of the municipal bond portfolio is classified as held-to-maturity. The Company measures expected credit losses on investment securities held-to-maturity on a collective basis by major security type with each type sharing similar risk characteristics and considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. The Company considers (1) issuer bond ratings, (2) historical loss rates for given bond ratings, (3) the financial condition of the issuer, and (4) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities. Historical loss rates associated with securities having similar grades as those in the Company's portfolio have been insignificant. After completing this assessment, the Company determined any credit losses as of December 31, 2023 and 2022 were not material to the consolidated financial statements. Real Estate Mortgage Loans Held-for-Sale: Loans held-for-sale are reported at the lower of cost or fair value on an aggregate basis. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Loan sales occur on the delivery date agreed to in the relevant commitment agreement. The Company retains servicing on the majority of loans sold. The carrying value of loans sold is reduced by the amount allocated to the servicing right. The gain or loss on the sale of loans is the difference between the carrying value of the loans sold and the funds received from the sale. Loans: Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of unearned interest, deferred loan fees and costs, and an allowance for credit losses. Interest income is reported on the interest method and includes amortization of net deferred loan fees and costs over the loan term. All classes of commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, other commercial and consumer 1-4 family mortgage loans for which collateral is insufficient to cover all principal and accrued interest are reclassified as nonaccrual loans, on or before the date when the loan becomes 90 days delinquent. When a loan is classified as a nonaccrual loan, interest on the loan is no longer accrued, all unpaid accrued interest is reversed and interest income is subsequently recorded on the cash-basis or cost-recovery method. Accrual status is resumed when all contractually due payments are brought current and future payments are reasonably assured. Other consumer loans are not placed on a nonaccrual status since these loans are charged-off when they have been delinquent from 90 to 180 days, and when the related collateral, if any, is not sufficient to offset the indebtedness. Nonaccrual loans and loans past due 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated and individually analyzed loans. The recorded investment in loans is the loan balance net of unamortized deferred loan fees and costs. The total amount of loans accrued interest as of December 31, 2023 and 2022 was $21.5 million and $18.4 million. Allowance for Credit Losses: The allowance for credit losses is a valuation allowance to provide for expected credit losses. Losses are charged against the allowance when management believes that the principal is uncollectible. Subsequent recoveries, if any, are credited to the allowance. Allocations of the allowance are made for specific loans and for pools of similar types of loans, although the entire allowance is available for any loan that, in management's judgment, should be charged against the allowance. A provision for credit losses is taken based on management's ongoing evaluation of the appropriate allowance balance. A formal evaluation of the adequacy of the credit loss allowance is conducted monthly. The ultimate recovery of all loans is susceptible to future market factors beyond the Company's control. NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The determination of the appropriate allowance is inherently subjective, as it requires significant estimates by management. The Company has an established process to determine the adequacy of the allowance for credit losses that generally includes consideration of changes in the nature and volume of the loan portfolio and overall portfolio quality, along with current and forecasted economic conditions that may affect borrowers' ability to repay. Consideration is not limited to these factors although they represent the most commonly cited factors. To determine the specific allocation levels for individual credits, management considers the current valuation of collateral and the amounts and timing of expected future cash flows as the primary measures. Management also considers trends in adversely classified loans based upon an ongoing review of those credits. With respect to pools of similar loans, an appropriate level of general allowance is determined by portfolio segment using a probability of default-loss given default ("PD/LGD") model, subject to a floor. A default can be triggered by one of several different asset quality factors, including past due status, nonaccrual status, material modification to a borrower experiencing financial difficulty or if the loan has had a charge off. This PD is then combined with a LGD derived from historical charge off data to construct a loss rate. This loss rate is then supplemented with adjustments for reasonable and supportable forecasts of relevant economic indicators, particularly the unemployment rate forecast from the Federal Open Market Committee's Summary of Economic Projections, as well as portfolio trends based on the risks present for each portfolio segment. These environmental factors include consideration of portfolio trends and conditions; industry conditions; and effects of changes in credit concentrations. It is also possible that these factors could include social, political, economic, and terrorist events or activities. All of these factors are susceptible to change, which may be significant. As a result of this detailed process, the allowance results in two forms of allocations, specific and general. These two components represent the total allowance for credit losses deemed adequate to cover expected losses within the loan portfolio. Commercial loans are subject to a dual standardized grading process administered by the credit administration function. These grade assignments are performed independent of each other, and a consensus is reached by credit administration and the loan officer. Specific allowances are established in cases where management has identified significant conditions or circumstances related to an individual credit that indicate it should be evaluated on an individual basis. Considerations with respect to specific allocations for these individual credits include, but are not limited to, the following: (a) the sufficiency of the customer's cash flow or net worth to repay the loan; (b) the adequacy of the discounted value of collateral relative to the loan balance; (c) whether the loan has been criticized in a regulatory examination; (d) whether the loan is nonperforming; (e) any other reasons the ultimate collectability of the loan may be in question; or (f) any unique loan characteristics that require special monitoring. Allocations are also applied to categories of loans considered not to be individually analyzed, but for which the rate of loss is expected to be consistent with or greater than historical averages. Such allocations are based on past loss experience and information about specific borrower situations and estimated collateral values. These general pooled loan allocations are performed for portfolio segments of commercial and industrial; commercial real estate, multi-family, and construction; agri-business and agricultural; other commercial loans; and consumer 1-4 family mortgage and other consumer loans. General allocations of the allowance are determined by a historical loss rate based on the calculation of each pool's probability of default-loss given default, subject to a floor. The length of the historical period for each pool is based on the average life of the pool. The historical loss rates are all supplemented with consideration of economic conditions and portfolio trends. The risk characteristics of each of the identified portfolio segments are as follows: Commercial and Industrial - Borrowers may be subject to industry conditions including decreases in product demand; increase in material or other production costs that cannot be immediately recaptured in the sales or distribution cycle; interest rate increases that could have an adverse impact on profitability; non-payment of credit that has been extended under normal vendor terms for goods sold or services; and interruption related to the importing or exporting of production materials or sold products. Commercial Real Estate and Multi-Family Residential - Borrowers may be subject to potential adverse market conditions that cause a decrease in market value or lease rates; the potential for environmental impairment from events occurring on subject or neighboring properties; and obsolescence in location or function. Multi-family residential is also subject to adverse market conditions associated with a change in governmental or personal funding sources for tenants; over supply of units in a specific region; a shift in population; and reputational risks. Construction and land development risks include slower absorption than anticipated on speculative projects; deterioration in market conditions that may impact a project's value; unforeseen costs not considered in the original construction budget; or any other factors that may impact the completion or success of the project. Agri-business and Agricultural - Borrowers may be subject to adverse market or weather conditions including changes in local or foreign demand; lower yields than anticipated; political or other impact on storage, distribution or use; foreign trade policies including tariffs; and exposure to increasing commodity prices which result in higher production, distribution or exporting costs. NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Other Commercial - Borrowers may be subject to an interruption in the flow of funds to states and other political subdivisions for the purpose of debt repayments on loans held by the Bank. Consumer 1-4 Family Mortgage - Borrowers may be subject to adverse employment conditions in the local economy leading to increased default rates; decreased market values from oversupply in a geographic area; and impact to the borrowers' ability to maintain payments in the event of incremental rate increases on adjustable rate mortgages. Other Consumer - Borrowers may be subject to adverse employment conditions in the local economy which may lead to higher default rates; and decreases in the value of underlying collateral. A loan is individually analyzed for specific allocation when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Allocations are analyzed individually or in total for smaller-balance loans of similar nature such as all classes of consumer 1-4 family and other consumer loans, and individually for all classes of commercial and industrial, commercial real estate and multi-family, agribusiness and agricultural and other commercial loans. The Company analyzes commercial loans individually by classifying the loans as to credit risk. This analysis is performed on a quarterly basis for Special Mention, Substandard and Doubtful grade loans and annually on Pass grade loans over $250,000. Factors considered by management in determining individual evaluation include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as individually evaluated. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. If a loan is individually evaluated, a portion of the allowance may be allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral less anticipated costs to sell. All classes of commercial and industrial, commercial real estate and multifamily residential, agribusiness and agricultural, other commercial, consumer 1-4 family mortgage loans and other consumer loans that become delinquent beyond 90 days are analyzed and a charge off is taken when it is determined that the underlying collateral, if any, is not sufficient to offset the indebtedness. Loans, for which the terms have been modified for borrowers experiencing financial difficulties and a concession has been granted that could materially change the Company's expected future cash flows, are classified as individually evaluated and may be either accruing or non-accruing. Modifications to borrowers experiencing financial difficulties on nonaccrual status follow the same policy as described above for other loans. Individual evaluation for modifications to borrowers experiencing financial difficulty is measured at the present value of estimated future cash flows using the loan’s effective rate at inception or at discounted collateral value for collateral dependent loans. Due to the imprecise nature of estimating the allowance for credit losses, the Company's allowance for credit losses includes an immaterial unallocated component. The unallocated component of the allowance for credit losses incorporates the Company's judgmental determination of potential expected losses that may not be fully reflected in other allocations. As a practical expedient, the Company has elected to disclose accrued interest separately from loan principal balances on the consolidated balance sheet. Additionally, when a loan is placed on non-accrual, interest payments are reversed through interest income. For off balance sheet credit exposures outlined in the ASC at 326-20-30-11, it is the Company's position that nearly all of the unfunded amounts on lines of credit are unconditionally cancellable, and therefore not subject to having a liability recorded. Investments in Limited Partnerships: The Company enters into and invests in limited partnerships in order to invest in affordable housing projects to support Community Reinvestment Act activities and secondarily to obtain available tax benefits. The Company also invests in Small Business Investment Company Program funds and a technology consortium fund. The Company is a limited partner in these investments and, as such, the Company is not involved in the management or operation of such investments. These investments are accounted for using the equity method of accounting. Under the equity method of accounting, the Company records its share of the partnership’s earnings or losses in its income statement and adjusts the carrying amount of the investments on the consolidated balance sheet. These investments are evaluated for impairment when events indicate the carrying amount may not be recoverable. The investments recorded at December 31, 2023 and 2022 were $13.0 million and $12.2 million, respectively and are included with other assets in the consolidated balance sheet. The Company also has a commitment to fund an additional NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) $2.8 million at December 31, 2023 in six of the limited partnerships compared to $3.9 million in six of the limited partnerships at December 31, 2022, which is included with other liabilities in the consolidated balance sheet. Foreclosed Assets: Assets acquired through loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines, a valuation allowance is recorded through expense. Costs incurred after acquisition are expensed. At December 31, 2023 and 2022, the balance of other real estate owned was $384,000 and $100,000, respectively, and is included with other assets on the consolidated balance sheet. Land, Premises and Equipment, Net: Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the useful lives of the assets. Premises and improvements assets have useful lives between 5 and 40 years. Equipment and furniture assets have useful lives between 3 and 7 years. Loan Servicing Rights: Servicing rights are recognized separately when they are acquired through sales of loans. When mortgage loans are sold, servicing rights are initially recorded at fair value with the income statement effect recorded in mortgage banking income. Fair value is based on a valuation model that calculates the present value of estimated future net servicing income. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. The amortization of servicing rights is netted against mortgage banking income. Servicing fees were $1.2 million for the years ended 2023, 2022 and 2021. Late fees and ancillary fees related to loan servicing are not material. Servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as loan type, term and interest rate. Any impairment of a grouping is reported as a valuation allowance, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in the valuation allowance are reported with mortgage banking income on the income statement. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. The carrying value of mortgage servicing rights, which is included with other assets in the consolidated balance sheet, was $2.2 million and $2.7 million as of December 31, 2023 and 2022, respectively. Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of these loans were $333.1 million and $364.3 million at December 31, 2023 and 2022, respectively. Custodial escrow balances maintained in connection with serviced loans were $1.5 million and $1.7 million at year end 2023 and 2022, respectively. Servicing fee income (loss), which is included in loan and service fees on the income statement, is recorded for fees earned for servicing loans. Fees earned for servicing loans are based on a contractual percentage of the outstanding principal amount of the loan and are recorded as income when earned. Transfers of Financial Assets: Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Mortgage Banking Derivatives: Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free-standing derivatives. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest on the loan is locked. The Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into, in order to hedge the change in interest rates resulting from its commitments to fund the loans. Changes in fair values of these derivatives are included in mortgage banking income. Interest Rate Swap Derivatives: The Company offers a derivative product to certain creditworthy commercial banking customers. This product allows the commercial banking customers to enter into an agreement with the Company to swap a variable rate loan to a fixed rate. These derivative products are designed to reduce, eliminate or modify the borrower’s interest rate exposure. The extension of credit incurred in connection with these derivative products is subject to the same approval and underwriting standards as traditional credit products. The Company limits its risk exposure by simultaneously entering into a similar, offsetting swap agreement with a separate, well-capitalized and highly rated counterparty previously approved by the Company’s Asset Liability Committee. By using these interest rate swap arrangements, the Company is also better insulated from the interest rate risk associated with underwriting fixed-rate loans and is better able to meet customer demand for fixed rate loans. These derivative contracts are not designated against specific assets or liabilities and, therefore, do not qualify for hedge accounting. The derivatives are recorded as assets and liabilities on the balance sheet at fair value with changes in fair value recorded in non-interest income for both the commercial banking customer swaps and the related offsetting swaps. The fair value of the derivative instruments incorporates a consideration of credit risk (in accordance with ASC 820), resulting in some potential volatility in earnings each period. Cash flow activity is recorded through other assets and other liabilities. The notional amount of the combined interest rate swaps with customers and counterparties at December 31, 2023 and 2022 was $826.4 million and $760.5 million, respectively. The fair value of the interest rate swap asset was $27.2 million and $36.9 million and the fair value of the interest rate swap liability was $27.2 million and $36.9 million at December 31, 2023 and 2022, respectively. Bank Owned Life Insurance: At December 31, 2023 and 2022, the Company owned $104.8 million and $102.5 million, respectively, of life insurance policies on certain officers to provide a life insurance benefit for these officers. At December 31, 2023 and 2022, the Company also owned $4.3 million and $5.9 million, respectively, of variable life insurance on certain officers related to a deferred compensation plan. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, i.e., the cash surrender value adjusted for other changes or other amounts due that are probable at settlement. Goodwill and Other Intangible Assets: All goodwill on the Company’s consolidated balance sheet resulted from business combinations prior to January 1, 2009 and represents the excess of the purchase price over the fair value of acquired tangible assets and liabilities and identifiable intangible assets. Goodwill is not amortized, but assessed at least annually for impairment and any such impairment would be recognized in the period identified. FHLB and Federal Reserve Bank Stock: FHLB and Federal Reserve Bank stock are carried at cost in other assets, classified as a restricted security and are periodically evaluated for impairment based on ultimate recoverability of par value. Both cash and stock dividends are reported as income. Long-term Assets: Premises and equipment, and other long-term assets are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. There was no such impairment identified for the years ended December 31, 2023, 2022 and 2021. NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Benefit Plans: The Company has a noncontributory defined benefit pension plan, which covered substantially all employees until the plan was frozen effective April 1, 2000. Funding of the plan equals or exceeds the minimum funding requirement determined by the actuary. Pension expense is the net of interest cost, return on plan assets and amortization of gains and losses not immediately recognized. Benefits are based on years of service and compensation levels. The Company maintains a 401(k) profit sharing plan for all employees meeting certain age and service requirements. The Company contributions are based upon the percentage of budgeted net income earned during the year. An employee deferred compensation plan is available to certain employees with returns based on investments in mutual funds. The Company maintains a directors’ deferred compensation plan. Effective January 1, 2003, the directors’ deferred compensation plan was amended to restrict the deferral to be in stock only and deferred directors’ fees are included in equity. The Company acquires shares on the open market and records such shares as treasury stock. Revenue Recognition: All of the Company’s revenue from contracts with customers in the scope of ASC 606 is recognized within noninterest income. The following is a description of principal activities from which we generate revenue. Revenues are recognized as the Company satisfies its obligations with our customers, in an amount that reflects the consideration that we expect to receive in exchange for those services. Wealth advisory fees The Company provides wealth advisory services to its customers and earns fees from its contracts with trust customers to manage assets for investment and/or to transact on their accounts. These fees are primarily earned over time as the Company provides the contracted monthly, quarterly, or annual services and are generally assessed based on a tiered scale of the market value of assets under management (AUM) at month-end. Fees that are transaction based, including trade execution services, are recognized at the point in time that the transaction is executed. Other related services, such as escrow accounts that are based on a fixed schedule, are recognized when the services are rendered. Investment brokerage services The Company provides investment brokerage services through a full service brokerage and investment and advisory firm, Cetera Investment Services LLC (“Cetera”). The Company receives commissions from Cetera on a monthly basis based upon customer activity for the month. The fees are recognized monthly and a receivable is recorded until commissions are generally paid by the 5th business day of the following month. Because the Company (i) acts as an agent in arranging the relationship between the customer and the Cetera and (ii) does not control the services to the customers, investment brokerage service fees are presented net of Cetera’s related costs. Service charges on deposit accounts The Company earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s balance. Interchange income The Company provides the ability to transact on certain deposit accounts through the use of debit cards by outsourcing the services through third party service providers. Performance obligations are met on a transactional basis and income is recognized monthly based on transaction type and volume. Under the accounting standards in effect in the prior period, revenue was previously recognized net of the third party’s costs. Under ASC 606, fees from interchange income related to its customers use of debit cards will be reported gross in loan and service fees under noninterest income. The cost of using third party providers for these interchange services are reported in data processing fees and supplies under noninterest expense. NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Gain on sale of other real estate owned ("OREO") financed by seller On occasion, the Company underwrites a loan to purchase property owned by the Company. Under ASC 606, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain (loss) on sale if a significant financing component is present. Debit card incentive rebates The Company receives incentive rebates based on debit card transaction volume. Performance obligations are met on a transactional basis and income is recognized monthly based on transaction volume. Under ASC 606, these rebates related to debit card transaction volume are reported as a contra expense in data processing fees and supplies under noninterest expense. Stock Based Compensation: Compensation cost is recognized for stock options and restricted stock awards issued to employees, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Company’s common stock at the date of grant adjusted for the present value of expected dividends is used for restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. Certain of the restricted stock awards are performance based, as more fully discussed in Note 14 – Stock Based Compensation. Income Taxes: Annual consolidated federal and state income tax returns are filed by the Company. Deferred income tax assets and liabilities are determined using the liability (or balance sheet) method. Income tax expense is recorded based on the amount of taxes due on its tax return plus net deferred taxes computed based upon the expected future tax consequences of temporary differences between carrying amounts and tax basis of assets and liabilities, using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is more likely of being realized on examination than not. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Off-Balance Sheet Financial Instruments: Financial instruments include credit instruments, such as commitments to make loans and standby letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. The fair value of standby letters of credit is recorded as a liability during the commitment period. Earnings Per Common Share: Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock options, restricted stock awards and warrants. Earnings and dividends per share are restated for all stock splits and dividends through the date of issue of the financial statements. The common shares included in treasury stock for 2023 and 2022 were 473,120 and 475,902 shares, respectively. Common stock that has been purchased under the directors’ deferred compensation plan, described above, is included in the treasury stock total and represented 184,019 and 186,801 shares of treasury stock as of December 31, 2023 and 2022, respectively. Because these shares are held in trust for the participants, NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) they are treated as outstanding when computing the weighted-average common shares outstanding for the calculation of both basic and diluted earnings per share. Treasury stock is carried at cost using the treasury stock method. Comprehensive Income (Loss): Comprehensive income (loss) consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities available-for-sale, reclassification adjustments for securities transferred to held-to-maturity, reclassification adjustments for gains on the sale of available-for-sale securities and changes in the funded status of the pension plan, which are also recognized as separate components of equity. Loss Contingencies: Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. The Bank discovered potentially fraudulent activity by a former treasury management client involving multiple banks. The former client subsequently filed several related bankruptcy cases, captioned In re Interlogic Outsourcing, Inc., et al., which are pending in the United States Bankruptcy Court for the Western District of Michigan. On April 27, 2021, the bankruptcy court entered an order approving an amended plan of liquidation, which was filed by the former client, other debtors and bankruptcy plan proponents, and approving the consolidation of the assets in the aforementioned cases under the Khan IOI Consolidated Estate Trust. On August 9, 2021, the liquidating trustee for the bankruptcy estates filed a complaint against the Bank and the Company, and agreed to stay prosecution of the action through August 31, 2022. The original complaint focused on a series of business transactions among the client, related entities and the Bank, which the liquidating trustee alleged are voidable under applicable federal bankruptcy and state law. The complaint also addressed treatment of the Bank's claims filed in the bankruptcy cases. On August 31, 2022, the trustee filed his amended complaint against the former client, the Bank, the Company, four officers of the Bank and one independent director of the Bank. The amended complaint alleges that the former client engaged in a check kiting scheme involving multiple banks. The amended complaint alleges that a series of business transactions among the client, his related entities and the Bank are voidable under applicable bankruptcy and state laws. The amended complaint also alleges that the Bank, the Company and the five individual bank representatives who are named as defendants violated various federal and state laws in assisting the former client in his check kiting scheme. On October 26, 2022, the trustee filed his second amended complaint which was virtually identical to his amended complaint. On January 5, 2023, the Bank, the Company and the five individual bank representatives filed motions to dismiss the second amended complaint. On May 30, 2023, the court issued its decision granting the defendants' motion to dismiss in part and denying it in part. The court dismissed all claims against the Company and the Bank's independent director. The court dismissed several of the claims against the defendants but granted the trustee the right to file an amended complaint. On June 20, 2023, the trustee filed his third amended complaint. The trustee alleges many of the same claims that were alleged in the second amended complaint. The defendants filed a motion to dismiss the third amended complaint on July 25, 2023. The trustee subsequently filed a response to this motion. On November 26, 2023, the court issued its decision granting the defendants' motion to dismiss in part and denying it in part, with pre-trial discovery scheduled to start in early 2024 for all claims not dismissed by the court in its November ruling. Based on current information, we have determined that a material loss is neither probable nor estimable at this time, and the Bank and the four individual Bank representatives who remain as defendants intend to vigorously defend themselves against all allegations asserted in this amended complaint. Restrictions on Cash: The Federal Reserve Bank eliminated the reserve requirement for all depository institutions in March of 2020. Therefore, the Company was not required to have cash on hand or on deposit with the Federal Reserve Bank to meet regulatory reserve and clearing requirements at December 31, 2023 and 2022. Dividend Restriction: Banking regulations require maintaining certain capital levels and may limit the dividends paid by the Bank to the Company or by the Company to its stockholders. These restrictions currently pose no practical limit on the ability of the Bank or Company to pay dividends at historical levels. NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Fair Value of Financial Instruments: Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 5 - Fair Value. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. Operating Segments: The Company’s chief decision-makers monitor and evaluate financial performance on a Company-wide basis. All of the Company’s financial service operations are similar and considered by management to be aggregated into one reportable operating segment. While the Company has assigned certain management responsibilities by region and business-line, the Company’s chief decision-makers monitor and evaluate financial performance on a Company-wide basis. The majority of the Company’s revenue is from the business of banking and the Company’s assigned regions have similar economic characteristics, products, services and customers. Accordingly, all of the Company’s operations are considered by management to be aggregated in one reportable operating segment. Adoption of New Accounting Standards: On March 12, 2020, the FASB issued Accounting Standards Update (ASU) 2020-04, "Reference Rate Reform (ASC 848): Facilitation of the Effects of Reference Rate Reform of Financial Reporting." ASC 848 contains optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to to be discontinued. On December 22, 2022, the FASB issued ASU 2022-06, "Reference Rate Reform (ASC848): Deferral of the Sunset Date of Topic 848", which provided a definitive sunset date of December 31, 2024 for the relief guidance under Topic 848. The ASU was effective immediately upon issuance. The Company formed a cross-functional project team to lead the transition from LIBOR to a planned adoption of reference rates which included the Secure Overnight Financing Rate ("SOFR"), amongst others. The Company identified certain loans that renewed prior to 2021 and obtained updated reference rate language at the time of the renewal. Additionally, management utilized timeline guidance published by the Alternative Reference Rates Committee to develop and achieve internal milestones during the transitional period. The Company's policy is to adhere to the International Swaps and Derivatives Association 2020 IBOR Fallbacks Protocol that was released on October 23, 2020. The Company discontinued the use of new LIBOR-based loans by December 31, 2021, according to regulatory guidelines. The Company transitioned LIBOR-based loans to an alternative reference rate before June 30, 2023. The Company adopted the LIBOR transition relief allowed under this standard, and it did not have a material impact on the consolidated financial statements. On March 28, 2022, the FASB issued ASU 2022-01, "Derivatives and Hedging (ASC 815): Fair Value Hedging - Portfolio Layer Method." ASC 815 previously permitted only prepayable financial assets and one or more beneficial interests secured by a portfolio of prepayable financial instruments to be included in a last-of-layer closed portfolio. The amendment in this update allows nonrepayable financial assets to also be included in a closed portfolio hedged using the portfolio layer method. That expanded scope allows an entity to apply the same portfolio hedging method to both prepayable and nonprepayable financial assets, thereby allowing consistent accounting for similar hedges. The update become effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. The Company adopted ASU 2022-01 on January 1, 2023, which did not have a material impact on the consolidated financial statements. On March 31, 2022, the FASB issued ASU 2022-02, "Financial Instruments - Credit Losses (ASC 326): Troubled Debt Restructurings (TDRs) and Vintage Disclosures." The update amends ASC 326 to eliminate the accounting guidance for TDRs by creditors, while enhancing disclosures requirements for certain loan refinancing and restructuring activities by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying TDR recognition and measurement guidance, creditors will determine whether a modification results in a new loan or continuation of an existing loan. These amendments are intended to enhance existing disclosure requirements and introduce new requirements related to certain modifications or receivables made to borrowers experiencing financial difficulty. Additionally, the amendments to ASC 326 require that an entity disclose current-period gross write-offs by year of origination within the vintage disclosures, which requires that an entity disclose the amortized cost basis of financing receivables by credit quality indicator and class of financing receivable by year of origination. The update is available for entities that have adopted the amendments in update NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 2016-13 for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. The Company elected to early adopt the provisions of the ASU related to the discontinuance of TDR reporting, with retrospective application of modification reporting effective starting January 1, 2022. The Company adopted the provisions related to reporting of current-period gross write-offs within the vintage disclosures effective January 1, 2023. The adoption of the provisions contained within ASU 2022-20 did not have a material impact on the consolidated financial statements. On March 28, 2023, the FASB issued ASU 2023-02, "Investments - Equity Method and Join Ventures (ASC 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method." ASU 2014-01, "Investments - Equity method and Joint Ventures (ASC 323): Accounting for Investments in Qualified Affordable Housing Projects", previously introduced the option to apply the proportional amortization method to account for investments made primarily for the purpose of receiving income tax credits and other income tax benefits when certain requirements are met; however, this guidance limited the proportional amortization method to investments in low-income-housing tax credit (LIHTC) structures. The proportional amortization method results in the cost of the investment being amortized in proportion to the income tax credits and other income tax benefits received, with the amortization of the investment and the income tax credits being presented net in the income statement as a component of net income tax expense (benefit). Equity investments in other tax credit structures are typically accounted for using the equity method, which results in investment income, gains and losses, and tax credits being presented gross on the income statement in their respective line items. The amendments in this update permit reporting entities to elect to account for certain tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the income tax benefits in the income statement as a component of income tax expense (benefit). To qualify for the proportional amortization method, all of the following conditions must be met: (1) It is probable that the income tax credits allocated to the tax equity investor will be available; (2) The tax equity investor does not have the ability to exercise significant influence over the operating and financial policies of the underlying project; (3) Substantially all of the projected benefits are from income tax credits and other income tax benefits. Projected benefits included income tax credits, other income tax benefits, and other non-income tax -related benefits. The projected benefits are determined on a discounted basis, using a discount rate that is consistent with the cash flow assumptions used by the tax equity investor in making its decision to invest in the project; (4) The tax equity investor's projected yield based solely on the cash flows from the income tax credits and other income tax benefits is positive; and (5) The tax equity investor is a limited liability investor in the limited liability entity for both legal and tax purposes, and the tax equity investor's liability is limited to its capital investment. An accounting policy election is allowed to apply the proportional amortization method on a tax-credit-program-by-tax-credit-program basis rather than electing to apply the proportional amortization method at the reporting entity level or to individual investments. The amendments in this update require specific disclosures that must be applied to all investments that generate income tax credits and other income tax benefits from a tax credit program for which the entity has elected to apply the proportional amortization method. The amendments require that a reporting entity disclose certain information in annual and interim reporting periods that enable investors to understanding the following information about its investments that generate income tax credits and other income tax benefits from a tax credit program including: (1) The nature of its tax equity investments; and (2) The effect of its tax equity investments and related income tax credits and other income tax benefits on its financial position and results of operations. For public business entities, the amendments in this update are effective for fiscal years beginning after December 31, 2023, including interim periods within those fiscal years. Early adoption is permitted in any interim period. If early adoption is elected, the provisions shall be adopted as of the beginning of the fiscal year that includes the interim period of adoption. The amendments in this update must be applied on either a modified retrospective or a retrospective basis. The Company chose the modified retrospective approach and recorded a day one adjustment of less than $1.0 million to beginning retained earnings upon adoption of ASU 2023-02 on January 1, 2024, which did not have a material impact on the consolidated financial statements. Newly Issued But Not Yet Effective Accounting Standards: On October 9, 2023, the FASB issued ASU 2023-06, "Disclosure Improvements: Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative", which modified the disclosure or presentation requirements of a variety of Topics in the Codification and was intended to both clarify or improve such requirements and align the requirements with the SEC's regulations. The amendments to Topics of Codification provided in this update apply to all reporting entities within the scope of the affected Topics unless otherwise indicated by the update. Given the variety of Topics NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) amended, a broad range of entities may be affected by one or more of the amendments provided in the update. The Company evaluated the amendments provided in the update and believes certain of the disclosure improvements are applicable to the Company's interim or annual disclosures. Subtopic 230-10, as amended, requires disclosure within the accounting policy in annual periods of where cash flows associated with derivative instruments and their related gains and losses are presented within the statement of cash flows. Subtopic 260-10, as amended, requires disclosure of the methods used in the diluted earnings-per-share computation for each dilutive security and clarifies that certain disclosures should be made during interim periods. Subtopic 470-10, as amended, requires disclosure of amounts and terms of unused lines of credit and unfunded commitments and the weighted-average interest rate on short-term borrowings outstanding as of the date of each balance sheet presented. The effective date for each amendment for entities subject to the SEC's existing disclosure requirements is the effective date of the removal of the related disclosure from Regulation S-X or Regulation S-K, with early adoption prohibited. The amendments in the update are to be applied prospectively. The Company will apply prospectively the provisions provided in the amendments as such provisions become effective, and does not believe the application of these modified disclosure requirements will have a material impact on the consolidated financial statements. If by June 30, 2027, the SEC has not removed the applicable requirement from Regulation S-X or Regulation S-K, the pending content of the related amendment in the Update will be removed from the Codification and will not become effective. On November 27, 2023, the FASB issued ASU 2023-07, "Segment Reporting (ASC 280): Improvements to Reportable Segment Disclosures", intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment segment expenses. Provisions in the amendment include: (1) Requirement that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss (collectively referred to as the "significant expense principle"); (2) Requirement that a public entity disclose, on an an annual and interim basis, an amount for other segment items by reportable segment and a description of its composition. The other segment items category is the difference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported measure of segment profit or loss; (3) Requirement that a public entity provide all annual disclosures about a reportable segment's profit or loss and assets currently required by ASC 280 in interim periods; (4) Clarification that if the CODM uses more than one measure of a segment's profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit. However, at lease one of the reported segment profit or loss measures (or the single reported measure, if only one is disclosed) should be the measure that is most consistent with the measurement principles used in measuring the corresponding amounts in the public entity's consolidated financial statements; (5) Requirement that a public entity disclose the title and position of the CODM and explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources; and (6) Requirement that a public entity that has a single reportable segment provide all the disclosures by the amendments in the update and all existing segment disclosures in ASC 280. The amendments in the update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. For public business entities, amendments in the update should be applied retrospectively to all periods presented in the financial statements, and upon transition the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The Company is currently evaluating the impact of this standard on its disclosures, however does not expect adoption of the Update to have a material impact on the consolidated financial statements. On December 14, 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures", to address investor requests for greater transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The amendments are designed to enhance transparency surrounding income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by taxing jurisdiction, which will allow investors to better assess, in their capital allocation decisions, how an entity's operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. Other amendments in this Update improve the effectiveness and comparability of disclosures by (1) adding disclosures of pretax income (or loss) and income tax expense (or benefit) to be consistent with the SEC's Regulation S-X 210.4-08(h), Rules of General Application-General Notes to Financial Statements: Income Tax Expense, and (2) removing disclosures that are no longer considered cost beneficial or relevant. NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The amendments in the Update are effective for public business entities for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this Update should be applied on a prospective basis, however retrospective application is permitted. The Company is currently evaluating the impact of this Update on its disclosures, however does not expect adoption of the Update to have a material impact on the consolidated financial statements. Reclassifications: Certain amounts appearing in the financial statements and notes thereto for prior periods have been reclassified to conform with the current presentation. The reclassifications had no effect on net income or stockholders’ equity as previously reported.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Dec. 31, 2023

OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income (Loss)

The following tables summarize the changes within each classification of accumulated other comprehensive income (loss) for the years ended December 31, 2023 and 2022, all shown net of tax:


(dollars in thousands)	Unrealized Gains and (Losses) on Available-for-Sales Securities		Defined Benefit Pension Items		Total
Balance at January 1, 2023	$	(188,154)	$	(769)	$	(188,923)
Other comprehensive income (loss) before reclassification	32,105		(10)		32,095
Amounts reclassified from accumulated other comprehensive income (loss)	1,589		44		1,633
Net current period other comprehensive income (loss)	33,694		34		33,728
Balance at December 31, 2023	$	(154,460)	$	(735)	$	(155,195)


(dollars in thousands)	Unrealized Gains and (Losses) on Available-for-Sales Securities		Defined Benefit Pension Items		Total
Balance at January 1, 2022	$	17,056	$	(963)	$	16,093
Other comprehensive income (loss) before reclassification	(206,392)		86		(206,306)
Amounts reclassified from accumulated other comprehensive income (loss)	1,182		108		1,290
Net current period other comprehensive income (loss)	(205,210)		194		(205,016)
Balance at December 31, 2022	$	(188,154)	$	(769)	$	(188,923)

Schedule of Reclassification Out of Accumulated Other comprehensive income

Reclassifications out of accumulated other comprehensive income (loss) for the years ended December 31, 2023, 2022 and 2021 are as follows:


Details about Accumulated Other Comprehensive Income Components	Amount Reclassified From Accumulated Other Comprehensive Income (Loss)		Affected Line Item in the Statement Where Net Income is Presented
2023
(dollars in thousands)
Amortization of unrealized losses on held-to-maturity securities	$	(1,987)	Interest income
Realized gains and (losses) on available-for-sale securities	(25)		Net securities gains (losses)
Tax effect	423		Income tax expense
Subtotal	(1,589)		Net of tax
Amortization of defined benefit pension items(1)	(59)		Salaries and employee benefits
Tax effect	15		Income tax expense
Subtotal	(44)		Net of tax
Total reclassifications for the period	$	(1,633)	Net income


2022
(dollars in thousands)
Amortization of unrealized losses on held-to-maturity securities	$	(1,518)	Interest income
Realized gains and (losses) on available-for-sale securities	21		Net securities gains (losses)
Tax effect	315		Income tax expense
Subtotal	(1,182)		Net of tax
Amortization of defined benefit pension items(1)	(144)		Salaries and employee benefits
Tax effect	36		Income tax expense
Subtotal	(108)		Net of tax
Total reclassifications for the period	$	(1,290)	Net income


2021
(dollars in thousands)
Realized gains and (losses) on available-for-sale securities	$	797	Net securities gains (losses)
Tax effect	(167)		Income tax expense
Subtotal	630		Net of tax
Amortization of defined benefit pension items(1)	(242)		Salaries and employee benefits
Tax effect	60		Income tax expense
Subtotal	(182)		Net of tax
Total reclassifications for the period	$	448	Net income

(1)Included in the computation of net pension plan expense as more fully discussed in Note 10 – Pension and Other Postretirement Plans.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SECURITIES - Schedule of Available For Sale of Securities Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Available-for-sale Securities
Less than 12 months, Fair Value	$ 31,397	$ 455,318
12 months or more, Fair value	1,002,690	686,704
Total Fair Value	1,034,087	1,142,022
Less than 12 Months, Unrealized Losses	440	53,415
12 Months or more, Unrealized Losses	174,334	162,064
Total Unrealized Losses	174,774	215,479
U.S. Treasury securities
Schedule of Available-for-sale Securities
Less than 12 months, Fair Value		3,034
12 months or more, Fair value		0
Total Fair Value		3,034
Less than 12 Months, Unrealized Losses		23
12 Months or more, Unrealized Losses		0
Total Unrealized Losses		23
U.S. government sponsored agencies
Schedule of Available-for-sale Securities
Less than 12 months, Fair Value	0	8,420
12 months or more, Fair value	119,479	118,541
Total Fair Value	119,479	126,961
Less than 12 Months, Unrealized Losses	0	1,350
12 Months or more, Unrealized Losses	27,213	27,873
Total Unrealized Losses	27,213	29,223
Mortgage-backed securities: residential
Schedule of Available-for-sale Securities
Less than 12 months, Fair Value	52	165,897
12 months or more, Fair value	442,765	323,727
Total Fair Value	442,817	489,624
Less than 12 Months, Unrealized Losses	0	18,637
12 Months or more, Unrealized Losses	74,551	67,297
Total Unrealized Losses	74,551	85,934
State and municipal securities
Schedule of Available-for-sale Securities
Less than 12 months, Fair Value	31,345	277,967
12 months or more, Fair value	440,446	244,436
Total Fair Value	471,791	522,403
Less than 12 Months, Unrealized Losses	440	33,405
12 Months or more, Unrealized Losses	72,570	66,894
Total Unrealized Losses	$ 73,010	$ 100,299

SELECTED QUARTERLY DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Selected Quarterly Financial Information [Abstract]
Interest income	$ 90,942	$ 88,623	$ 84,482	$ 79,220	$ 75,353	$ 62,558	$ 53,622	$ 48,034	$ 343,267	$ 239,567	$ 193,219
Interest expense	42,343	40,230	35,958	27,701	18,516	10,066	4,944	3,154	146,232	36,680	15,131
NET INTEREST INCOME	48,599	48,393	48,524	51,519	56,837	52,492	48,678	44,880	197,035	202,887	178,088
Provision for credit losses	300	400	800	4,350	8,958	0	0	417	5,850	9,375	1,077
CREDIT LOSSES	48,299	47,993	47,724	47,169	47,879	52,492	48,678	44,463	191,185	193,512	177,011
Noninterest income	17,208	10,835	11,501	10,314	10,519	10,164	10,492	10,687
Noninterest expense	29,445	29,097	42,734	29,434	27,434	27,894	27,913	26,969	130,710	110,210	104,287
Income tax expense	6,436	4,479	1,880	3,771	4,987	6,237	5,584	4,539	16,566	21,347	21,711
NET INCOME	$ 29,626	$ 25,252	$ 14,611	$ 24,278	$ 25,977	$ 28,525	$ 25,673	$ 23,642	$ 93,767	$ 103,817	$ 95,733
Basic earnings per common share (in USD per share)	$ 1.16	$ 0.99	$ 0.57	$ 0.95	$ 1.02	$ 1.12	$ 1.00	$ 0.93	$ 3.67	$ 4.07	$ 3.76
Diluted earnings per common share (in USD per share)	$ 1.16	$ 0.98	$ 0.57	$ 0.94	$ 1.01	$ 1.11	$ 1.00	$ 0.92	$ 3.65	$ 4.04	$ 3.74

PENSION AND OTHER POSTRETIREMENT PLANS - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits
Change in benefit obligation:
Beginning benefit obligation	$ 1,546	$ 2,298
Interest cost	75	53	$ 52
Actuarial (gain) loss	(112)	(611)
Benefits paid	(12)	(194)
Ending benefit obligation	1,497	1,546	2,298
Change in plan assets (primarily equity and fixed income investments and money market funds), at fair value:
Beginning plan assets	1,820	2,303
Actual return	232	(289)
Employer contribution	0	0
Benefits paid	(217)	(194)
Ending plan assets	1,835	1,820	2,303
Funded status at end of year	338	274
SERP Benefits
Change in benefit obligation:
Beginning benefit obligation	700	867
Interest cost	33	20	18
Actuarial (gain) loss	93	(52)
Benefits paid	(133)	(135)
Ending benefit obligation	693	700	867
Change in plan assets (primarily equity and fixed income investments and money market funds), at fair value:
Beginning plan assets	606	848
Actual return	73	(107)
Employer contribution	0	0
Benefits paid	(133)	(135)
Ending plan assets	546	606	$ 848
Funded status at end of year	$ (147)	$ (94)

PENSION AND OTHER POSTRETIREMENT PLANS

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

PENSION AND OTHER POSTRETIREMENT PLANS

In April 2000, the Lakeland Financial Corporation Pension Plan was frozen. The Company also maintains a Supplemental Executive Retirement Plan (“SERP”) for select officers that was established as a funded, non-qualified deferred compensation plan. Currently, six retired officers are the only participants in the SERP. The measurement date for both the pension plan and SERP is December 31, 2023 and 2022.

Information as to the Company’s employee benefit plans at December 31, 2023 and 2022 is as follows:


	Pension Benefits				SERP Benefits
(dollars in thousands)	2023		2022		2023		2022
Change in benefit obligation:
Beginning benefit obligation	$	1,546	$	2,298	$	700	$	867
Interest cost	75		53		33		20
Actuarial (gain) loss	(112)		(611)		93		(52)
Benefits paid	(12)		(194)		(133)		(135)
Ending benefit obligation	1,497		1,546		693		700

Change in plan assets (primarily equity and fixed income investments and money market funds), at fair value:
Beginning plan assets	1,820		2,303		606		848
Actual return	232		(289)		73		(107)
Employer contribution	0		0		0		0
Benefits paid	(217)		(194)		(133)		(135)
Ending plan assets	1,835		1,820		546		606
Funded status at end of year	$	338	$	274	$	(147)	$	(94)

Amounts recognized in the consolidated balance sheets consist of:


	Pension Benefits				SERP Benefits
(dollars in thousands)	2023		2022		2023		2022
Funded status included in other liabilities	$	338	$	274	$	(147)	$	(94)

Amounts recognized in accumulated other comprehensive income consist of:


	Pension Benefits				SERP Benefits
(dollars in thousands)	2023		2022		2023		2022
Net actuarial loss	$	478	$	538	$	502	$	487

NOTE 10 – PENSION AND OTHER POSTRETIREMENT PLANS (continued)

The accumulated benefit obligation for the pension plan was $1.5 million for both December 31, 2023 and 2022. The accumulated benefit obligation for the SERP was $693,000 and $700,000 for December 31, 2023 and 2022, respectively.

Net period benefit cost and other amounts recognized in other comprehensive income (loss) include the following:


	Pension Benefits						SERP Benefits
(dollars in thousands)	2023		2022		2021		2023		2022		2021
Net pension expense:
Service cost	$	0	$	0	$	0	$	0	$	0	$	0
Interest cost	75		53		52		33		20		18
Expected return on plan assets	(123)		(130)		(133)		(38)		(45)		(47)
Recognized net actuarial (gain) loss	18		99		160		42		45		82
Settlement cost	27		23		65		0		0		0
Net pension expense	$	(3)	$	45	$	144	$	37	$	20	$	53

Net (gain) loss	$	(43)	$	(215)	$	(350)	$	56	$	100	$	(40)
Amortization of net loss	(17)		(99)		(160)		(42)		(45)		(82)
Total recognized in other comprehensive income (loss)	(60)		(314)		(510)		14		55		(122)
Total recognized in net pension expense and other comprehensive income (loss)	$	(63)	$	(269)	$	(366)	$	51	$	75	$	(69)

The estimated net loss (gain) for the defined benefit pension plan and SERP that will be amortized (accreted) from accumulated other comprehensive income (loss) into net periodic benefit cost over the next fiscal year is ($34,000) for the pension plan and $42,000 for the SERP. The settlement costs in 2023, 2022 and 2021 were related to participants taking lump sum distributions from the pension plan during those years.

For 2023, 2022 and 2021, the assumed form of payment elected by active participants upon retirement was a lump sum to reflect participant trends. The lump sum assumed interest rates, on the next page, for December 31, 2023, 2022 and 2021 reflect the mortality table in effect for 2023, 2022 and 2021, respectively. For 2023, 2022, and 2021, the mortality assumption was the PRI-2012 White Collar Mortality Table, with full generational Projection Scale MP-2021 at year-end.

NOTE 10 – PENSION AND OTHER POSTRETIREMENT PLANS (continued)


	Pension Benefits						SERP Benefits
	2023		2022		2021		2023		2022		2021
The following assumptions were used in calculating the net benefit obligation:
Weighted average discount rate	4.83	%	5.03	%	2.49	%	4.83	%	5.03	%	2.49	%
Rate of increase in future compensation	N/A		N/A		N/A		N/A		N/A		N/A
Lump sum assumed interest rates First 5 years	5.77	%	5.10	%	0.87	%	N/A		N/A		N/A
Next 15 years	6.14	%	5.83	%	2.74	%	N/A		N/A		N/A
All future years	6.19	%	5.68	%	3.16	%	N/A		N/A		N/A

The following assumptions were used in calculating the net pension expense:

Weighted average discount rate	5.03	%	2.49	%	2.08	%	5.03	%	2.49	%	2.08	%
Rate of increase in future compensation	N/A		N/A		N/A		N/A		N/A		N/A
Expected long-term rate of return	6.50	%	6.50	%	6.50	%	6.50	%	6.50	%	6.50	%

Pension Plan and SERP Assets

The Company’s investment strategies are to invest in a prudent manner for the purpose of providing benefits to participants in the pension plan and the SERP. The investment strategies are targeted to maximize the total return of the portfolio net of inflation, spending and expenses. Risk is controlled through diversification of asset types and investments in domestic and international equities and fixed income securities. The target allocations for plan assets are shown in the tables below. Equity securities primarily include investments in common stocks. Debt securities include government agency and commercial bonds. Other investments consist of money market mutual funds.

The weighted average expected long-term rate of return on pension plan and SERP assets is developed in consultation with the plans actuary. It is primarily based upon industry trends and consensus rates of return which are then adjusted to reflect the specific asset allocations and historical rates of return of the Company’s plan assets. The following assumptions were used in determining the total long-term rate of return: equity securities were assumed to have a long-term rate of return of approximately 8.85% and debt securities were assumed to have a long-term rate of return of approximately 3.00%. These rates of return were adjusted to reflect an approximate target allocation of 60% equity securities and 40% debt securities with a small downward adjustment due to investments in the “Other” category, which consist of low yielding money market mutual funds.

Certain asset types and investment strategies are prohibited including, the investment in commodities, options, futures, short sales, margin transactions and non-marketable securities.

NOTE 10 – PENSION AND OTHER POSTRETIREMENT PLANS (continued)

The Company’s pension plan asset allocation at year end 2023 and 2022, target allocation for 2024, and expected long-term rate of return by asset category are as follows:


	Target Allocation				Percentage of Plan Assets at Year End				Weighted Average Expected Long-Term Rate of Return
Asset Category	2024				2023		2022
Equity securities	55	-	65	%	63	%	60	%	8.85	%
Debt securities	35	-	45	%	34	%	39	%	3.00	%
Other	5	-	10	%	3	%	1	%	0.10	%
Total					100	%	100	%	6.50	%

The Company’s SERP plan asset allocation at year end 2023 and 2022, target allocation for 2024, and expected long-term rate of return by asset category are as follows:


	Target Allocation				Percentage of Plan Assets at Year End				Weighted Average Expected Long-Term Rate of Return
Asset Category	2024				2023		2022
Equity securities	55	-	65	%	65	%	62	%	8.85	%
Debt securities	35	-	45	%	33	%	35	%	3.00	%
Other	5	-	10	%	2	%	3	%	0.10	%
Total					100	%	100	%	6.50	%

Fair Value of Pension Plan and SERP Assets

Fair value is the exchange price that would be received for an asset in the principal or most advantageous market for the asset in an orderly transaction between market participants on the measurement date. Also, a fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

The Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument:

Equity and debt securities: The fair values of securities are determined on a recurring basis by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs) or pricing models, which utilize significant observable inputs such as matrix pricing. This is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs).

NOTE 10 – PENSION AND OTHER POSTRETIREMENT PLANS (continued)

The fair values of the Company’s pension plan assets at December 31, 2023, by asset category are as follows:


Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(dollars in thousands)
Equity securities - US large cap common stocks	$	763	$	763	$	0	$	0
Equity securities - US mid cap stock mutual funds	44		44		0		0
Equity securities - US small cap stock mutual funds	135		135		0		0
Equity securities - international stock mutual funds	143		143		0		0
Equity securities - emerging markets stock mutual funds	68		68		0		0
Debt securities - intermediate term bond mutual funds	373		373		0		0
Debt securities - short term bond mutual funds	153		153		0		0
Debt securities - high yield bond mutual funds	18		18		0		0
Debt securities - nontraditional bond mutual funds	12		12		0		0
Debt securities - bank loan mutual funds	35		35		0		0
Debt securities - preferred stock mutual funds	36		36		0		0
Cash - money market account	55		55		0		0
Total	$	1,835	$	1,835	$	0	$	0

The fair values of the Company’s pension plan assets at December 31, 2022, by asset category are as follows:


Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2 )		Significant Unobservable Inputs (Level 3)
(dollars in thousands)
Equity securities - US large cap common stocks	$	718	$	718	$	0	$	0
Equity securities - US mid cap stock mutual funds	43		43		0		0
Equity securities - US small cap stock mutual funds	131		131		0		0
Equity securities - international stock mutual funds	158		158		0		0
Equity securities - emerging markets stock mutual funds	34		34		0		0
Debt securities - intermediate term bond mutual funds	232		232		0		0
Debt securities - short term bond mutual funds	484		484		0		0
Cash - money market account	20		20		0		0
Total	$	1,820	$	1,820	$	0	$	0

There were no Level 2 or 3 securities during either year.

NOTE 10 – PENSION AND OTHER POSTRETIREMENT PLANS (continued)

The fair values of the Company’s SERP assets at December 31, 2023, by asset category are as follows:


Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(dollars in thousands)
Equity securities - US large cap common stocks	$	236	$	236	$	0	$	0
Equity securities - US mid cap stock mutual funds	42		42		0		0
Equity securities - US small cap stock mutual funds	13		13		0		0
Equity securities - emerging markets stock mutual funds	20		20		0		0
Equity securities - international stock mutual funds	45		45		0		0
Debt securities - intermediate term bond mutual funds	107		107		0		0
Debt securities - short term bond mutual funds	44		44		0		0
Debt securities - high yield bond mutual funds	5		5		0		0
Debt securities - nontraditional bond mutual funds	4		4		0		0
Debt securities - bank loan mutual funds	10		10		0		0
Debt securities - preferred stock mutual funds	10		10		0		0
Cash - money market account	10		10		0		0
Total	$	546	$	546	$	0	$	0

The fair values of the Company’s SERP assets at December 31, 2022, by asset category are as follows:


Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(dollars in thousands)
Equity securities - US large cap common stocks	$	249	$	249	$	0	$	0
Equity securities - US mid cap stock mutual funds	16		16		0		0
Equity securities - US small cap stock mutual funds	43		43		0		0
Equity securities - emerging markets stock mutual funds	12		12		0		0
Equity securities - international stock mutual funds	57		57		0		0
Debt securities - intermediate term bond mutual funds	63		63		0		0
Debt securities - short term bond mutual funds	149		149		0		0
Cash - money market account	17		17		0		0
Total	$	606	$	606	$	0	$	0

There were no Level 2 or 3 securities during either year.

Contributions

The Company did not contribute to its pension or SERP plans in 2023.

NOTE 10 – PENSION AND OTHER POSTRETIREMENT PLANS (continued)

Estimated Future Benefit Payments

The following benefit payments are expected to be paid over the next ten years:


Plan Year	Pension Benefits		SERP Benefits
(dollars in thousands)
2024	$	185	$	129
2025	176		120
2026	186		109
2027	132		97
2028	132		84
2029-2033	491		232

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	$ 568,887	$ 704,906	$ 657,184
Other comprehensive income (loss) before reclassification	32,095	(206,306)
Amounts reclassified from accumulated other comprehensive income (loss)	1,633	1,290
Net current period other comprehensive income (loss)	33,728	(205,016)	(11,651)
Balance	649,793	568,887	704,906
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	(188,923)	16,093
Balance	(155,195)	(188,923)	16,093
Unrealized Gains and (Losses) on Available-for-Sales Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	(188,154)	17,056
Other comprehensive income (loss) before reclassification	32,105	(206,392)
Amounts reclassified from accumulated other comprehensive income (loss)	1,589	1,182
Net current period other comprehensive income (loss)	33,694	(205,210)
Balance	(154,460)	(188,154)	17,056
Defined Benefit Pension Items
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	(769)	(963)
Other comprehensive income (loss) before reclassification	(10)	86
Amounts reclassified from accumulated other comprehensive income (loss)	44	108
Net current period other comprehensive income (loss)	34	194
Balance	$ (735)	$ (769)	$ (963)

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-17

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-4

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482739/220-10-55-15

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

+ Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 23
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-5

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-17

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

Reference 29: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-11

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480767/946-205-45-3

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-3

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2

Reference 34: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 38: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 39: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 40: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 41: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-15

Reference 42: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-16

Reference 43: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4I

+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 29,626	$ 25,252	$ 14,611	$ 24,278	$ 25,977	$ 28,525	$ 25,673	$ 23,642	$ 93,767	$ 103,817	$ 95,733

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details