0000721994-22-000024 | 10-K | XBRL Viewer

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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and due from banks	$ 51,830	$ 74,457
Short-term investments	631,410	175,470
Total cash and cash equivalents	683,240	249,927
Securities available-for-sale (carried at fair value)	1,398,558	734,845
Real estate mortgage loans held-for-sale	7,470	11,218
Loans, net of allowance for credit losses of $67,773 and $61,408	4,220,068	4,587,748
Land, premises and equipment, net	59,309	59,298
Bank owned life insurance	97,652	95,227
Federal Reserve and Federal Home Loan Bank Stock	13,772	13,772
Accrued interest receivable	17,674	18,761
Goodwill	4,970	4,970
Other assets	54,610	54,669
Total assets	6,557,323	5,830,435
LIABILITIES
Noninterest bearing deposits	1,895,481	1,538,331
Interest bearing deposits	3,839,926	3,498,474
Total deposits	5,735,407	5,036,805
Borrowings
Federal Home Loan Bank advances	75,000	75,000
Miscellaneous borrowings	0	10,500
Total borrowings	75,000	85,500
Accrued interest payable	2,619	5,959
Other liabilities	39,391	44,987
Total liabilities	5,852,417	5,173,251
Commitments, off-balance sheet risks and contingencies (Notes 1 and 18)
STOCKHOLDERS’ EQUITY
Common stock, 90,000,000 shares authorized, no par value, 25,777,609 shares issued and 25,300,793 outstanding as of December 31, 2021 and 25,713,408 shares issued and 25,239,748 outstanding as of December 31, 2020	120,615	114,927
Retained earnings	583,134	529,005
Accumulated other comprehensive income	16,093	27,744
Treasury stock, at cost (476,816 shares and 473,660 shares as of December 31, 2021 and 2020, respectively)	(15,025)	(14,581)
Total stockholders’ equity	704,817	657,095
Noncontrolling interest	89	89
Total equity	704,906	657,184
Total liabilities and equity	$ 6,557,323	$ 5,830,435

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Total ending allowance balance	$ 67,773	$ 61,408
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)	25,777,609	25,713,408
Common stock, shares outstanding (in shares)	25,300,793	25,239,748
Treasury stock, at cost (in shares)	476,816	473,660

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest and fees on loans
Taxable	$ 170,081	$ 176,538	$ 196,733
Tax exempt	470	647	951
Interest and dividends on securities
Taxable	9,086	6,973	8,909
Tax exempt	13,033	8,577	7,127
Interest on short-term investments	549	368	1,490
Total interest income	193,219	193,103	215,210
Interest on deposits	14,827	29,342	57,148
Interest on borrowings
Short-term	7	506	1,311
Long-term	297	247	1,704
Total interest expense	15,131	30,095	60,163
NET INTEREST INCOME	178,088	163,008	155,047
Provision for credit losses	1,077	14,770	3,235
CREDIT LOSSES	177,011	148,238	151,812
NONINTEREST INCOME
Wealth advisory fees	8,750	7,468	6,835
Investment brokerage fees	1,975	1,670	1,687
Service charges on deposit accounts	10,608	10,110	15,717
Loan and service fees	11,922	10,085	9,911
Merchant and interchange fee income	3,023	2,408	2,641
Bank owned life insurance income	2,467	2,105	1,890
Interest rate swap fee income	1,035	5,089	1,691
Mortgage banking income	1,418	3,911	1,626
Net securities gains	797	433	142
Other income	2,725	3,564	2,857
Total noninterest income	44,720	46,843	44,997
NONINTEREST EXPENSE
Salaries and employee benefits	57,882	49,413	48,742
Net occupancy expense	5,728	5,851	5,295
Equipment costs	5,530	5,766	5,521
Data processing fees and supplies	12,674	11,864	10,407
Corporate and business development	4,262	3,093	4,371
FDIC insurance and other regulatory fees	2,242	1,707	638
Professional fees	7,064	5,314	4,644
Other expense	8,905	8,197	9,806
Total noninterest expense	104,287	91,205	89,424
INCOME BEFORE INCOME TAX EXPENSE	117,444	103,876	107,385
Income tax expense	21,711	19,539	20,338
NET INCOME	$ 95,733	$ 84,337	$ 87,047
BASIC WEIGHTED AVERAGE COMMON SHARES (in shares)	25,475,994	25,469,242	25,588,404
BASIC EARNINGS PER COMMON SHARE (in USD per share)	$ 3.76	$ 3.31	$ 3.40
DILUTED WEIGHTED AVERAGE COMMON SHARES (in shares)	25,620,105	25,573,941	25,758,893
DILUTED EARNINGS PER COMMON SHARE (in USD per share)	$ 3.74	$ 3.30	$ 3.38

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 95,733	$ 84,337	$ 87,047
Change in securities available -for-sale:
Unrealized holding gain (loss) on securities available-for-sale arising during the period	(14,553)	20,148	23,438
Reclassification adjustment for (gains) losses included in net income	(797)	(433)	(142)
Net securities gain (loss) activity during the period	(15,350)	19,715	23,296
Tax effect	3,224	(4,140)	(4,893)
Net of tax amount	(12,126)	15,575	18,403
Defined benefit pension plans:
Net gain (loss) on defined benefit pension plans	390	(105)	(409)
Amortization of net actuarial loss	242	251	205
Net gain (loss) on activity during the period	632	146	(204)
Tax effect	(157)	(36)	51
Net of tax amount	475	110	(153)
Total other comprehensive income (loss), net of tax	(11,651)	15,685	18,250
Comprehensive income	$ 84,082	$ 100,022	$ 105,297

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Impact of ASC 326 Adoption	Common Stock	Retained Earnings	Retained Earnings Impact of ASC 326 Adoption	Total	Treasury Stock	Total Stockholders' Equity	Total Stockholders' Equity Impact of ASC 326 Adoption	Noncontrolling Interest
Balance at Dec. 31, 2018	$ 521,704	$ (1,327)	$ 112,383	$ 419,179	$ (1,327)	$ (6,191)	$ (3,756)	$ 521,615	$ (1,327)	$ 89
Balance (in shares) at Dec. 31, 2018			25,128,773
Increase (Decrease) in Stockholders' Equity
Net income	87,047			87,047				87,047
Other comprehensive income (loss), net of tax	18,250					18,250		18,250
Cash dividends declared	(29,652)			(29,652)				(29,652)
Cashless exercise of warrants (in shares)			224,066
Treasury shares purchased under deferred directors' plan	0		$ 515				(515)
Treasury shares purchased under deferred directors' plan (in shares)			(11,481)
Treasury shares sold and distributed under deferred directors' plan	0		$ (118)				118
Treasury shares sold and distributed under deferred directors' plan (in shares)			5,699
Stock activity under equity compensation plans	(2,109)		$ (2,109)					(2,109)
Stock activity under equity compensation plans (in shares)			97,218
Stock based compensation expense	4,187		$ 4,187					4,187
Balance at Dec. 31, 2019	$ 598,100		$ 114,858	475,247		12,059	(4,153)	598,011		89
Balance (in shares) at Dec. 31, 2019			25,444,275
Increase (Decrease) in Stockholders' Equity
Accounting Standards Update [Extensible Enumeration]	us-gaap:AccountingStandardsUpdate201708Member
Net income	$ 84,337			84,337				84,337
Other comprehensive income (loss), net of tax	15,685					15,685		15,685
Cash dividends declared	(30,579)			(30,579)				(30,579)
Treasury shares purchased under share repurchase plan	(10,012)						(10,012)	(10,012)
Treasury shares purchased under share repurchase plan (in shares)			(289,101)
Treasury shares purchased under deferred directors' plan	0		$ 535				(535)
Treasury shares purchased under deferred directors' plan (in shares)			(11,566)
Treasury shares sold and distributed under deferred directors' plan	0		$ (119)				119
Treasury shares sold and distributed under deferred directors' plan (in shares)			5,748
Stock activity under equity compensation plans	(2,137)		$ (2,137)					(2,137)
Stock activity under equity compensation plans (in shares)			90,392
Stock based compensation expense	1,790		$ 1,790					1,790
Balance at Dec. 31, 2020	657,184	$ (6,951)	$ 114,927	529,005		27,744	(14,581)	657,095		89
Balance (in shares) at Dec. 31, 2020			25,239,748
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	0		$ 559				(559)
Treasury shares purchased under deferred directors' plan (in shares)			(8,820)
Treasury shares sold and distributed under deferred directors' plan	0		$ (115)				115
Treasury shares sold and distributed under deferred directors' plan (in shares)			5,664
Stock activity under equity compensation plans	(1,914)		$ (1,914)					(1,914)
Stock activity under equity compensation plans (in shares)			64,201
Stock based compensation expense	7,158		$ 7,158					7,158
Balance at Dec. 31, 2021	$ 704,906		$ 120,615	$ 583,134		$ 16,093	$ (15,025)	$ 704,817		$ 89
Balance (in shares) at Dec. 31, 2021			25,300,793
Increase (Decrease) in Stockholders' Equity
Accounting Standards Update [Extensible Enumeration]	ASU 2016-13

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends declared, per share (in USD per share)	$ 1.36	$ 1.20	$ 1.16

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 95,733	$ 84,337	$ 87,047
Adjustments to reconcile net income to net cash from operating activities:
Depreciation	6,105	6,042	5,930
Provision for credit losses	1,077	14,770	3,235
Net loss on sale and write down of other real estate owned	67	0	0
Amortization of loan servicing rights	2,282	772	528
Net change in loan servicing rights valuation allowance	0	715	0
Loans originated for sale	(119,439)	(117,600)	(66,008)
Net gain on sales of loans	(4,376)	(4,510)	(2,043)
Proceeds from sale of loans	126,391	114,244	64,820
Net (gain) loss on sale of premises and equipment	43	86	(3)
Net (gain) loss on sales and calls of securities available-for-sale	(797)	(433)	(142)
Net amortization of available -for-sale securities	4,959	3,998	3,947
Stock based compensation expense	7,158	1,790	4,187
Earnings on life insurance	(2,467)	(2,105)	(1,890)
Gain on life insurance	(415)	(730)	(841)
Tax benefit of stock award issuances	(330)	(71)	(529)
Net change:
Interest receivable and other assets	(1,852)	(6,315)	(4,733)
Interest payable and other liabilities	(371)	(7,762)	6,534
Total adjustments	18,035	2,891	12,992
Net cash from operating activities	113,768	87,228	100,039
Cash flows from investing activities:
Proceeds from sale of securities available- for-sale	13,964	8,018	57,114
Proceeds from maturities, calls and principal paydowns of securities available-for-sale	137,812	97,998	67,818
Purchases of securities available-for-sale	(835,001)	(216,478)	(129,453)
Purchase of life insurance	(711)	(10,409)	(5,552)
Net increase in total loans	356,660	(587,377)	(152,119)
Proceeds from sales of land, premises and equipment	8	658	14
Purchases of land, premises and equipment	(6,167)	(5,719)	(7,998)
Proceeds from sales of other real estate owned	946	0	0
Proceeds from life insurance	943	1,285	1,483
Net cash from investing activities	(331,546)	(712,024)	(168,693)
Cash flows from financing activities:
Net increase in total deposits	698,602	902,986	89,754
Net increase (decrease) in short-term borrowings	(10,500)	10,500	(75,555)
Payments on short-term FHLB borrowings	0	(170,000)	0
Payments on long-term FHLB borrowings	0	0	0
Proceeds from long-term FHLB borrowings	0	75,000	0
Payments on subordinated debentures	0	0	(30,928)
Common dividends paid	(34,640)	(30,566)	(29,639)
Preferred dividends paid	(13)	(13)	(13)
Payments related to equity incentive plan	(1,914)	(2,137)	(2,109)
Purchase of treasury stock	(559)	(10,547)	(515)
Sales of treasury stock	115	119	118
Net cash from financing activities	651,091	775,342	(48,887)
Net change in cash and cash equivalents	433,313	150,546	(117,541)
Beginning balance	249,927	99,381	216,922
Ending balance	683,240	249,927	99,381
Cash paid during the year for:
Interest	18,471	35,740	58,964
Income taxes	25,947	19,355	21,035
Supplemental non-cash disclosures:
Loans transferred to other real estate owned	893	35	0
Property transferred to held for sale	0	0	0
Right-of-use assets obtained in exchange for lease liabilities	$ 0	$ 0	$ 5,483

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

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 subsidiaries, Lake City Bank (the “Bank”) and LCB Risk Management, Inc., together 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. All intercompany transactions and balances are eliminated in consolidation.

The Company provides financial services through the Bank, a full-service commercial bank with 51 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. 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 value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for available-for-sale 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 an allowance for available-for-sale securities losses is recognized in other comprehensive income (loss).

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Changes in the allowance for available-for-sale securities are recorded as a component of credit loss expense. Losses are charged against the allowance for available-for-sale securities losses when management believes the uncollectibility of available-for-sale security is confirmed or when either criteria regarding intent or requirement to sell is met.

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 accrued interest on loans as of December 31, 2021 and 2020 was $10.0 million and $14.6 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.

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, TDR status 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

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

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 review 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 - Borrower 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.

Other Commercial - Borrowers may be subject to the uninterrupted 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. Loans, for which the terms have been modified and a concession has been granted for borrowers experiencing financial difficulties, are considered troubled debt restructurings and classified as individually evaluated and may be either accruing or non-accruing. Nonaccrual troubled debt restructurings follow the same policy as described above for other loans. Individual evaluation for

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

troubled debt restructurings 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. 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 and consumer 1-4 family mortgage 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.

Troubled debt restructured loans are considered for removal from troubled debt restructuring status in the year following modification or at time of subsequent restructuring for loans with cumulative principal forgiveness if the interest rate is considered a market rate at the time of modification and it has been performing according to the terms of the modification for a reasonable period of time long enough to observe an ability to repay under the modified terms. If removed from troubled debt restructuring status, the loan continues to be individually evaluated for specific allocation with either 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. In addition, troubled debt restructured loans with subsequent modifications that do not have cumulative principal forgiveness are considered for removal from troubled debt restructuring status at the time of the subsequent modification if the following circumstances exist: (1) at the time of the subsequent restructuring, the borrower is not experiencing financial difficulties; (2) under the terms of the subsequent restructuring agreement no concession has been granted to the borrower; and (3)the subsequent restructuring agreement includes market terms that are no less favorable than those that would be offered for comparable new debt. Upon meeting these criteria, the loan is no longer individually evaluated and is no longer disclosed as a troubled debt restructuring.

Due to the imprecise nature of estimating the allowance for credit losses, the Company's allowance for credit losses includes an 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, including factors such as the level of classified credits, economic uncertainties, industry trends impacting specific portfolio segments, broad portfolio quality trends, and trends in the composition of the Company's large commercial loan portfolio and related large dollar exposures to individual borrowers. 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 ASU 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 set up, which matches the current accounting conclusion in the incurred loss environment.

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 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, 2021 and 2020 were $9.4 million and $9.2 million, respectively and are included with other assets in the consolidated balance sheet. The Company also has a commitment to fund an additional $2.2 million at December 31, 2021 in four of the limited partnerships compared to $2.6 million at December 31, 2020, which is included with other liabilities in the consolidated balance sheet.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

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, 2021 and 2020, the balance of other real estate owned was $196,000 and $316,000, 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 totaled $1.2 million, $1.2 million and $1.1 million for the years ended December 31, 2021, 2020 and 2019, respectively. 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 $2.4 million and $3.5 million as of December 31, 2021 and 2020, respectively.

Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of these loans were $375.4 million and $351.0 million at December 31, 2021 and 2020, respectively. Custodial escrow balances maintained in connection with serviced loans were $1.7 million at year end 2021 and 2020.

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.

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.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

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.

The notional amount of the combined interest rate swaps with customers and counterparties at December 31, 2021 and 2020 was $796.0 million and $819.1 million, respectively. The fair value of the interest rate swap asset was $14.3 million and $21.8 million and the fair value of the interest rate swap liability was $14.3 million and $21.8 million at December 31, 2021 and 2020, respectively.

The Company is a party in risk participation transactions of interest rate swaps, which had a total notional amount of $4.6 million and 5.0 million at December 31, 2021 and 2020, respectively.

Bank Owned Life Insurance:

At December 31, 2021 and 2020, the Company owned $91.1 million and $90.4 million, respectively, of life insurance policies on certain officers to provide a life insurance benefit for these officers. At December 31, 2021 and 2020, the Company also owned $6.6 million and $4.8 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 will 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.

Repurchase Agreements:

Substantially all repurchase agreement liabilities represent amounts advanced by various customers. Securities are pledged to cover these liabilities, which are not covered by federal deposit insurance. This product was discontinued during 2019.

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.

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 (OREO) owned 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 the accounting standards in effect in the prior period, revenue was previously recognized in other income under noninterest income. 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 15 – 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 2021 and 2020 were 476,816 and 473,660 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 187,715 and 184,559 shares of treasury stock as of December 31, 2021 and 2020, 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. During the year ended December 31, 2020, the Company repurchased 289,101 of its common shares at a weighted average price of $34.63 per share. Treasury stock is carried at cost.

Comprehensive Income:

Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities available-for-sale 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 has agreed to stay prosecution of the action through March 31, 2022. The action is focused on a series of business transactions among the client, related entities, and the Bank, which the liquidating trustee alleges are voidable under applicable federal bankruptcy and state law. The complaint also addresses treatment of the Bank’s claims filed in the bankruptcy cases. Based on current information, we have determined that a material loss is neither probable nor estimable at this time, and the Bank and the Company intend to vigorously defend themselves against all allegations asserted in the complaint.

Management does not believe there currently are matters that will have a material effect on the financial statements.

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, 2021 and 2020.

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 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,

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

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:

In June 2016, the FASB issued ASU 2016-13 "Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." This update, commonly referred to as the current expected credit losses methodology (“CECL”), changes the accounting for credit losses on loans and debt securities. Under the new guidance, the Company’s measurement of expected credit losses is based on information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. For loans, this measurement takes place at the time the financial asset is first added to the balance sheet and periodically thereafter. This differs significantly from the “incurred loss” model previously required, but still permitted, under GAAP, which delays recognition until it is probable a loss has been incurred. In addition, the guidance modifies the other-than-temporary impairment model for available-for-sale debt securities to require an allowance for credit impairment instead of a direct write-down, which allows for reversal of credit impairments in future periods. This guidance was effective, subject to optional delay discussed below, for the Company for fiscal years beginning after December 15, 2019, including interim periods in those fiscal years.

As previously disclosed, the Company implemented the CECL methodology and ran it concurrently with the historical incurred method. Under a provision provided by the CARES Act, the Company elected to delay the adoption of FASB’s new rule covering the CECL standard. On December 27, 2020, then-President Trump signed into law the Consolidated Appropriations Act, 2021. This law extended relief for troubled debt restructurings and provided for further delay of the current expected credit losses adoption under the CARES Act to January 1, 2022, with early adoption permitted. The Company elected to remain on the incurred loan loss methodology for 2020.

The Company adopted ASU 2016-13 during the first quarter of 2021, effective January 1, 2021. Upon adoption, the Company recognized a $9.1 million increase in the allowance for credit losses. This resulted in a one-time cumulative effect adjustment decreasing retained earnings as of January 1, 2021 by $7.0 million, net of deferred taxes of $2.1 million. The Company did not recognize an allowance for credit impairment for available-for-sale securities.

The following table illustrates the impact of adoption of the ASU:


	January 1, 2021
(dollars in thousands)	As Reported Under ASC 326		Pre-ASC 326 Adoption		Impact of ASC 326 Adoption
Loans
Commercial and industrial loans	$	32,645	$	28,333	$	4,312
Commercial real estate and multi-family residential loans	27,223		22,907		4,316
Agri-business and agricultural loans	4,103		3,043		1,060
Other commercial loans	1,357		416		941
Consumer 1-4 family loans	3,572		2,619		953
Other consumer loans	1,300		951		349
Unallocated	258		3,139		(2,881)
Allowance for credit losses	$	70,458	$	61,408	$	9,050

The Company’s loan segmentation, as disclosed in “Note 3 – Loans”, did not change as a result of adopting this ASU.

In December 2018, the OCC, the Board of Governors of the Federal Reserve System, and the FDIC approved a final rule to address changes to credit loss accounting under GAAP, including banking organizations’ implementation of CECL. The final rule provides banking organizations the option to phase in over a three-year period the day-one adverse effects on regulatory capital that may result from the adoption of the new accounting standard. In March 2020, the OCC, the Board of Governors of the Federal Reserve System, and the FDIC published an interim final rule to delay the estimated impact on regulatory capital stemming from the implementation of CECL. The interim final rule maintains the three-year transition option in the previous rule and provides banks the option to delay for two years an estimate of CECL’s effect on regulatory capital, relative to the incurred loss methodology’s effect on regulatory capital, followed by a three-year transition period (five-year transition option). The Company did not adopt the capital transition relief over the permissible three-year or five-year periods.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

In August 2018, the FASB issued ASU 2018-14 “Compensation — Retirement Benefits — Defined Benefit Plans— General (Topic 715-20): Disclosure Framework — Changes to the Disclosure Requirements for Defined Benefit Plans.” The ASU updated the annual disclosure requirements for employers that sponsor defined benefit pension or other postretirement benefit plans by adding, clarifying and removing certain disclosures. These amendments are effective for fiscal years ending after December 15, 2020, for public business entities, and are to be applied on a retrospective basis to all periods presented. The Company adopted this new accounting standard on January 1, 2021, and the adoption did not have a material impact on its financial statements.

In December 2019, the FASB issued ASU 2019-12 “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” These amendments remove specific exceptions to the general principles in Topic 740 in GAAP. It eliminates the need for an organization to analyze whether the following apply in a given period: exception to the incremental approach for intraperiod tax allocation; exceptions to accounting for basis differences where there are ownership changes in foreign investments; and exception in interim period income tax accounting for year-to-date losses that exceed anticipated losses. It also improves financial statement preparers’ application of income tax-related guidance and simplifies GAAP for: franchise taxes that are partially based on income; transactions with a government that result in a step up in the tax basis of goodwill; separate financial statements of legal entities that are not subject to tax. It also enacts changes in tax laws in interim periods. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company adopted this new accounting standard on January 1, 2021, and the adoption did not have a material impact on its financial statements.

In January 2020, the FASB issued ASU No. 2020-1 “Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) - Clarifying the Interactions between Topic 321, Topic 323, and Topic 815.” These amendments, among other things, clarify that a company should consider observable transactions that require a company to either apply or discontinue the equity method of accounting under Topic 323, Investments-Equity Method and Joint Ventures, for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. The amendments also clarify that, when determining the accounting for certain forward contracts and purchased options a company should not consider, whether upon settlement or exercise, if the underlying securities would be accounted for under the equity method or fair value option. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early application is permitted, including early adoption in an interim period. An entity should apply ASU 2020-1 prospectively at the beginning of the interim period that includes the adoption date. The Company adopted ASU 2020-1 on January 1, 2021 and it did not have a material impact on its financial statements.

In October 2020, the FASB issued ASU No. 2020-8, "Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs," to clarify that an entity should reevaluate whether a callable debt security is within the scope of ASC paragraph 310-20-35-33 for each reporting period. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, and early application is not permitted. The Company adopted this new accounting standard on January 1, 2021, and the adoption did not have a material impact on its financial statements.

Newly Issued But Not Yet Effective Accounting Standards:

On March 12, 2020, the FASB issued Accounting Standards Update (ASU) 2020-4, "Reference Rate Reform (“ASC 848”): Facilitation of the Effects of Reference Rate Reform on 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 be discontinued. The Company has formed a cross-functional project team to lead the transition from LIBOR to adoption of alternative reference rates which include Secured Overnight Financing Rate (“SOFR”), American Interbank Offered Rate ("Ameribor"), and Bloomberg Short-Term Bank Yield Index ("BSBY"). The Company identified loans that renewed prior to 2021 and obtained updated reference rate language at the time of renewal. Additionally, management is utilizing the timeline guidance published by the Alternative Reference Rates Committee to develop and achieve internal milestones during this transitional period. Additionally, the Company has adhered 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. Legacy LIBOR-based loans will be transitioned to an alternative reference rate on or before June 30, 2023. The

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

guidance under ASC-848 will be available for a limited time, generally through December 31, 2022. The Company expects to adopt the LIBOR transition relief allowed under this standard.

In August 2021, the FASB issued ASU 2021-6, "Presentation of Financial Statements (Topic 205), Financial Services - Depository and Lending (Topic 942) and Amendments to SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Businesses, and No. 33-10835, Update of Statistical Disclosures for Bank and Savings and Loan Registrants." The guidance is effective upon its addition to the FASB codification and will not 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.

SECURITIES

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

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 at December 31, 2021 is provided in the tables below.


(dollars in thousands)	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Losses		Fair Value
2021
U.S. Treasury securities	$	900	$	0	$	0	$	900
U.S. government sponsored agencies	145,858		39		(2,445)		143,452
Mortgage-backed securities: residential	487,157		4,455		(4,936)		486,676
Mortgage-backed securities: commercial	522		1		0		523
State and municipal securities	742,532		25,749		(1,274)		767,007
Total	$	1,376,969	$	30,244	$	(8,655)	$	1,398,558

2020
U.S. government sponsored agencies	$	36,492	$	56	$	(61)	$	36,487
Mortgage-backed securities: residential	270,231		9,289		(17)		279,503
Mortgage-backed securities: commercial	35,877		1,004		0		36,881
State and municipal securities	355,306		26,696		(28)		381,974
Total	$	697,906	$	37,045	$	(106)	$	734,845

Information regarding the fair value and amortized cost of available-for-sale debt securities by maturity as of December 31, 2021 is presented below. 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.

NOTE 2 – SECURITIES (continued)


(dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	3,700	$	3,704
Due after one year through five years	9,534		9,823
Due after five years through ten years	52,232		54,892
Due after ten years	823,824		842,940
	889,290		911,359
Mortgage-backed securities	487,679		487,199
Total debt securities	$	1,376,969	$	1,398,558

Security proceeds, gross gains and gross losses for 2021, 2020 and 2019 were as follows:


(dollars in thousands)	2021		2020		2019
Sales of securities available-for-sale
Proceeds	$	13,964	$	8,018	$	57,114
Gross gains	797		433		279
Gross losses	0		0		(137)
Number of securities	9		17		46

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 carrying values of $300.8 million and $382.7 million were pledged as of December 31, 2021 and 2020, respectively, as collateral for borrowings from the FHLB and Federal Reserve Bank and for other purposes as permitted or required by law.

Information regarding securities with unrealized losses as of December 31, 2021 and 2020 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
2021
U.S. government sponsored agencies	$	85,968	$	1,364	$	28,676	$	1,081	$	114,644	$	2,445
Mortgage-backed securities: residential	272,264		4,076		22,792		860		295,056		4,936

State and municipal securities	138,659		1,274		0		0		138,659		1,274
Total temporarily impaired	$	496,891	$	6,714	$	51,468	$	1,941	$	548,359	$	8,655

2020
U.S. government sponsored agencies	$	19,800	$	61	$	0	$	0	$	19,800	$	61
Mortgage-backed securities: residential	3		0		3,112		17		3,115		17

State and municipal securities	6,921		28		0		0		6,921		28
Total temporarily impaired	$	26,724	$	89	$	3,112	$	17	$	29,836	$	106

NOTE 2 – SECURITIES (continued)

The number of securities with unrealized losses as of December 31, 2021 and 2020 is presented below.


	Less than 12 months	12 months or more	Total
2021
U.S. government sponsored agencies	8	5	13
Mortgage-backed securities: residential	29	3	32

State and municipal securities	80	0	80
Total temporarily impaired	117	8	125

2020
U.S. government sponsored agencies	3	0	3
Mortgage-backed securities: residential	2	1	3

State and municipal securities	2	0	2
Total temporarily impaired	7	1	8

Available-for-sale 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, 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. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income, net of applicable taxes. No allowance for credit losses for available-for-sale debt securities was needed at December 31, 2021. Accrued interest receivable on available-for-sale debt securities totaled $7.4 million at December 31, 2021 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, except for certain non-local or local municipal securities, which are not rated.

The Company does not have a history of actively trading securities, but keeps the securities available-for-sale should liquidity for interest rate risk management or other needs develop that would warrant the sale of securities. While these securities are held in the available-for-sale portfolio, it is management’s current intent and ability to hold them until a recovery in fair value or maturity.

LOANS

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

LOANS

– LOANS

Total loans outstanding as of the years ended December 31, 2021 and 2020 consisted of the following:


(dollars in thousands)	2021		2020
Commercial and industrial loans:
Working capital lines of credit loans	$	652,861	$	626,023
Non-working capital loans	736,608		1,165,355
Total commercial and industrial loans	1,389,469		1,791,378

Commercial real estate and multi-family residential loans:
Construction and land development loans	379,813		362,653
Owner occupied loans	739,371		648,019
Nonowner occupied loans	588,458		579,625
Multi-family loans	247,204		304,717
Total commercial real estate and multi-family residential loans	1,954,846		1,895,014

Agri-business and agricultural loans:
Loans secured by farmland	206,331		195,410
Loans for agricultural production	239,494		234,234
Total agri-business and agricultural loans	445,825		429,644

Other commercial loans	73,490		94,013
Total commercial loans	3,863,630		4,210,049

Consumer 1-4 family mortgage loans:
Closed end first mortgage loans	176,561		167,847
Open end and junior lien loans	156,238		163,664
Residential construction and land development loans	11,921		12,007
Total consumer 1-4 family mortgage loans	344,720		343,518

Other consumer loans	82,755		103,616
Total consumer loans	427,475		447,134
Gross loans	4,291,105		4,657,183
Less: Allowance for credit losses	(67,773)		(61,408)
Net deferred loan fees	(3,264)		(8,027)
Loans, net	$	4,220,068	$	4,587,748

The recorded investment in loans does not include accrued interest, which totaled $10.0 million at December 31, 2021.

The Company had $350,000 and $19,000 in residential real estate loans in process of foreclosure as of December 31, 2021 and 2020, respectively.

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY

12 Months Ended

Dec. 31, 2021

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY

ALLOWANCE FOR LOAN 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, 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
December 31, 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

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 table summarizes the risk category of loans by loan segment and origination date as of December 31, 2021:


(dollars in thousands)	2021		2020		2019		2018		2017		Prior		Term Total		Revolving		Total
Commercial and industrial loans:
Working capital lines of credit loans:
Pass	$	3,699	$	830	$	3,360	$	0	$	0	$	0	$	7,889	$	558,634	$	566,523
Special Mention	0		0		0		0		0		0		0		60,441		60,441
Substandard	0		0		35		0		0		0		35		25,928		25,963


Total	3,699		830		3,395		0		0		0		7,924		645,003		652,927
Non-working capital loans:
Pass	185,374		139,157		79,477		38,899		19,415		18,489		480,811		203,794		684,605
Special Mention	17,728		0		225		979		2,350		1,426		22,708		0		22,708
Substandard	2,996		6,948		1,091		2,534		5,465		426		19,460		3,321		22,781

Not Rated	2,265		1,758		837		563		128		14		5,565		0		5,565
Total	208,363		147,863		81,630		42,975		27,358		20,355		528,544		207,115		735,659
Commercial real estate and multi-family residential loans:
Construction and land development loans:
Pass	35,136		30,224		1,276		998		0		0		67,634		310,396		378,030




Total	35,136		30,224		1,276		998		0		0		67,634		310,396		378,030
Owner occupied loans:
Pass	135,861		169,404		124,117		85,070		78,155		93,925		686,532		29,611		716,143
Special Mention	6,555		0		880		933		7,387		1,235		16,990		0		16,990
Substandard	489		1,570		909		1,758		694		238		5,658		0		5,658


Total	142,905		170,974		125,906		87,761		86,236		95,398		709,180		29,611		738,791
Nonowner occupied loans:
Pass	146,342		154,433		107,262		19,054		31,023		59,154		517,268		44,362		561,630
Special Mention	11,825		331		0		0		0		14,253		26,409		0		26,409



Total	158,167		154,764		107,262		19,054		31,023		73,407		543,677		44,362		588,039
Multi-family loans:
Pass	84,678		53,195		36,575		12,286		14,574		9,793		211,101		13,434		224,535
Special Mention	0		0		0		0		22,252		0		22,252		0		22,252



Total	84,678		53,195		36,575		12,286		36,826		9,793		233,353		13,434		246,787
Agri-business and agricultural loans:
Loans secured by farmland:
Pass	47,532		37,035		16,249		10,469		10,454		17,021		138,760		61,774		200,534
Special Mention	0		1,985		2,303		0		180		30		4,498		918		5,416
Substandard	207		0		0		0		0		145		352		0		352


Total	47,739		39,020		18,552		10,469		10,634		17,196		143,610		62,692		206,302
Loans for agricultural production:
Pass	36,238		25,855		4,224		11,072		1,331		4,178		82,898		138,142		221,040
Special Mention	448		8,642		1,171		0		0		0		10,261		8,272		18,533



Total	36,686		34,497		5,395		11,072		1,331		4,178		93,159		146,414		239,573
Other commercial loans:
Pass	6,556		21,111		3,243		1,273		8,592		7,460		48,235		21,145		69,380
Special Mention	0		0		0		0		0		3,798		3,798		0		3,798



Total	6,556		21,111		3,243		1,273		8,592		11,258		52,033		21,145		73,178
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans
Pass	14,635		16,173		5,312		5,903		3,049		3,221		48,293		5,005		53,298

Substandard	0		0		0		0		0		1,274		1,274		0		1,274

Not Rated	45,089		27,738		9,248		5,217		7,628		26,321		121,241		482		121,723
Total	59,724		43,911		14,560		11,120		10,677		30,816		170,808		5,487		176,295
Open end and junior lien loans
Pass	679		379		159		313		0		0		1,530		5,074		6,604

Substandard	0		0		0		0		0		0		0		98		98

Not Rated	21,945		5,624		5,987		3,899		1,653		1,526		40,634		110,523		151,157
Total	22,624		6,003		6,146		4,212		1,653		1,526		42,164		115,695		157,859
Residential construction loans




Not Rated	7,926		1,537		960		138		171		1,125		11,857		0		11,857
Total	7,926		1,537		960		138		171		1,125		11,857		0		11,857
Other consumer loans
Pass	3,401		957		1,523		0		1,155		0		7,036		12,998		20,034

Substandard	36		23		230		0		0		0		289		0		289

Not Rated	21,652		14,931		7,474		5,844		1,890		1,203		52,994		9,227		62,221
Total	25,089		15,911		9,227		5,844		3,045		1,203		60,319		22,225		82,544

TOTAL	$	839,292	$	719,840	$	414,127	$	207,202	$	217,546	$	266,255	$	2,664,262	$	1,623,579	$	4,287,841

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

As of December 31, 2021, $26.2 million in PPP loans were included in the "Pass" category of non-working capital commercial and industrial loans. These loans were included in this risk rating category because they are fully guaranteed by the Small Business Administration ("SBA").

Nonaccrual and Past Due Loans:

The Company does not record interest on nonaccrual loans until principal is recovered. For all loan classes, a loan is generally placed on nonaccrual status when principal or interest becomes 90 days past due unless it is well secured and in process of collection, or earlier when concern exists as to the ultimate collectability of principal or interest. Interest accrued but not received is reversed against earnings. Cash interest received on these loans is applied to the principal balance until the principal is recovered or until the loan returns to accrual status. Loans may be returned to accrual status when all the principal and interest amounts contractually due are brought current, remain current for a prescribed period, and the payments are reasonably assured.

The following table presents the aging of the amortized cost basis in past due loans as of December 31, 2021 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
Commercial and industrial loans:
Working capital lines of credit loans	$	652,903	$	24	$	0	$	646,961	$	5,966	$	5,200	$	652,927
Non-working capital loans	735,658		1		0		731,063		4,596		229		735,659
Commercial real estate and multi-family residential loans:
Construction and land development loans	378,030		0		0		378,030		0		0		378,030
Owner occupied loans	738,791		0		0		735,157		3,634		2,129		738,791
Nonowner occupied loans	588,039		0		0		588,039		0		0		588,039
Multi-family loans	246,787		0		0		246,787		0		0		246,787
Agri-business and agricultural loans:
Loans secured by farmland	206,302		0		0		205,967		335		0		206,302
Loans for agricultural production	239,573		0		0		239,573		0		0		239,573
Other commercial loans	73,178		0		0		73,178		0		0		73,178
Consumer 1‑4 family mortgage loans:
Closed end first mortgage loans	175,678		500		117		176,240		55		55		176,295
Open end and junior lien loans	157,729		130		0		157,761		98		98		157,859
Residential construction loans	11,857		0		0		11,857		0		0		11,857
Other consumer loans	82,472		72		0		82,255		289		0		82,544
Total	$	4,286,997	$	727	$	117	$	4,272,868	$	14,973	$	7,711	$	4,287,841

As of December 31, 2021, there were an insignificant number of loans 30-89 days past due or greater than 89 days past due on nonaccrual. Additionally, interest income recognized on nonaccrual loans was insignificant during the year ended December 31, 2021.

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY (continued)

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.

The following table presents the amortized cost basis of collateral dependent loans by class of loan as of December 31, 2021:


(dollars in thousands)	Real Estate		General Business Assets		Other		Total
Commercial and industrial loans:
Working capital lines of credit loans	$	0	$	5,966	$	0	$	5,966
Non-working capital loans	1,606		9,475		229		11,310
Commercial real estate and multi-family residential loans:
Owner occupied loans	1,435		1,505		1,161		4,101
Nonowner occupied loans	0		0		0		0
Agri-business and agricultural loans:
Loans secured by farmland	190		145		0		335
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans	3,081		0		0		3,081
Open end and junior lien loans	98		0		0		98
Other consumer loans	59		0		0		59
Total	$	6,469	$	17,091	$	1,390	$	24,950

Troubled Debt Restructurings:

Troubled debt restructured loans are included in the totals for individually analyzed loans. The Company has allocated $5.8 million and $5.5 million of specific allocations to customers whose loan terms have been modified in troubled debt restructurings as of December 31, 2021 and December 31, 2020, respectively. The Company is not committed to lend additional funds to debtors whose loans have been modified in a troubled debt restructuring.


(dollars in thousands)	December 31, 2021		December 31, 2020
Accruing troubled debt restructured loans	$	5,121	$	5,237
Nonaccrual troubled debt restructured loans	6,218		6,476
Total troubled debt restructured loans	$	11,339	$	11,713

During the year ending December 31, 2021, certain loans were modified as troubled debt restructurings. The modified terms of these loans include one or a combination of the following: inadequate compensation for the terms of the restructure or renewal; a modification of the repayment terms which delays principal payment for some period; terms offered to borrowers in financial distress where no additional credit enhancements were obtained at the time of renewal.

Additional concessions were granted to borrowers during 2021 with previously identified troubled debt restructured loans. There were 8 loans with recorded investments totaling $2.2 million where collateral values or cash flows were insufficient to support the loans. These troubled debt restructured loans with additional concessions decreased the allowance by $423,000 and resulted in no charge-offs for the year ending December 31, 2021. These concessions are not included in the table below.

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

The following table presents loans by class modified as new troubled debt restructurings that occurred during the year ending December 31, 2021:


						Modified Repayment Terms
(dollars in thousands)	Number of Loans	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Loans	Extension Period or Range (in months)
Troubled Debt Restructurings
Consumer 1-4 family loans:
Closed end first mortgage loans	2	$	217	$	217	2	172-204
Total	2	$	217	$	217	2	172-204

For the period ending December 31, 2021, the troubled debt restructurings described above had no impact to the allowance and no charge-offs were recorded.

As of December 31, 2021, one retail loan in the amount of $11,000 had a COVID-19 related deferral. In accordance with Section 4013 of the CARES Act, this deferral was not considered to be a troubled debt restructuring. This provision was effective through January 1, 2022 under the Consolidated Appropriations Act, 2021.

During the year ended December 31, 2020, certain loans were modified as troubled debt restructurings. The modified terms of these loans include one or a combination of the following: inadequate compensation for the terms of the restructure or renewal; a modification of the repayment terms which delays principal repayment for some period; or renewal terms offered to borrowers in financial distress where no additional credit enhancements were obtained at the time of renewal.

The following table presents loans by class modified as new troubled debt restructurings that occurred during the year ending December 31, 2020:


						Modified Repayment Terms
(dollars in thousands)	Number of Loans	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Loans	Extension Period or Range (in months)
Troubled Debt Restructurings
Commercial and industrial loans:
Working capital lines of credit loans	1	$	250	$	315	1	0
Non-working capital lines of credit loans	2	4,288		3,691		2	0
Commercial real estate and multi-family residential loans:
Owner occupied loans	1	1,528		1,527		1	0
Total	4	$	6,066	$	5,533	4	0

For the period ending December 31, 2020, the troubled debt restructurings described above had no impact to the allowance and no charge-offs were recorded.

As of December 31, 2020, total deferrals attributed to COVID-19 were $100.7 million representing 49 borrowers. This represented 2.2% of the total loan portfolio. Of that 22 were commercial loan borrowers representing $98.2 million in loans, or 2.3% of commercial loans, and 27 were retail loan borrowers representing $2.5 million, or 0.7% of total retail loans. The majority of all loan deferrals were for a period of 90 days. Of the total commercial deferrals attributed to COVID-19, $11.9 million represented a first deferral action, $22.8 million represented a second deferral action, $41.9 million represented a third deferral action and $24.1 million represented a fourth deferral action. Two borrowers represented 90% of the fourth deferral population and were commercial real estate nonowner occupied loans supported by adequate collateral and personal guarantors and consist of loans to the hotel and accommodation industry. All COVID-19 related loan deferrals remain on accrual status, as each deferral is individually analyzed, and management has determined that all contractual cashflows are collectable at this

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

time. In accordance with Section 4013 of the CARES Act, these were not considered to be troubled debt restructurings and were excluded from the table above.

During the year ending December 31, 2019, certain loans were modified as troubled debt restructurings. The modified terms of these loans include one or a combination of the following: inadequate compensation for the terms of the restructure or renewal; a modification of the repayment terms which delays principal repayment for some period; or renewal terms offered to borrowers in financial distress where no additional credit enhancements were obtained at the time of renewal.

Additional concessions were granted to borrowers during 2019 with previously identified troubled debt restructured loans. There were three commercial real estate loans with recorded investments totaling $1.9 million and five commercial and industrial loans with recorded investments totaling $2.4 million where the collateral values or cash flows were insufficient to support the loans. These troubled debt restructured loans with additional concessions decreased the allowance by $484,000 and resulted in no charge-offs for year ending December 31, 2019. These concessions are not included in the table below.

The following table presents loans by class modified as new troubled debt restructurings that occurred during the year ending December 31, 2019:


						Modified Repayment Terms
(dollars in thousands)	Number of Loans	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Loans	Extension Period or Range (in months)
Troubled Debt Restructurings
Commercial and industrial loans:
Working capital lines of credit loans	1	$	35	$	35	1	1
Total	1	$	35	$	35	1	1

For the period ending December 31, 2019, the working capital line of credit troubled debt restructuring described above had no impact to the allowance and no charge-offs were recorded.

A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. The following table presents loans modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the period ending December 31, 2021, 2020 and 2019.


	2021			2020			2019
(dollars in thousands)	Number of Loans	Recorded Investment		Number of Loans	Recorded Investment		Number of Loans	Recorded Investment
Troubled Debt Restructurings that Subsequently Defaulted Commercial and industrial loans:
Non-working capital loans	0	$	0	0	$	0	1	$	601
Total	0	$	0	0	$	0	1	$	601

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

Allowance for Loan Losses (Prior to January 1, 2021)

Prior to the adoption of ASC 326 on January 1, 2021 the Company calculated the allowance for loan losses using the incurred losses methodology. The following tables are disclosures related to the allowance for loan losses in prior periods.

The following tables present the activity and balance in the allowance for loan losses by portfolio segment for the year ended December 31, 2020 and 2019. PPP loans are fully guaranteed by the SBA and have not been allocated for within the allowance for loan losses.


(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
December 31, 2020
Beginning balance	$	25,789	$	15,796	$	3,869	$	447	$	2,086	$	345	$	2,320	$	50,652
Provision for loan losses	6,640		6,868		(826)		(31)		341		959		819		14,770
Loans charged-off	(4,524)		(72)		0		0		(141)		(516)		0		(5,253)
Recoveries	428		315		0		0		333		163		0		1,239
Net loans (charged-off) recovered	(4,096)		243		0		0		192		(353)		0		(4,014)
Ending balance	$	28,333	$	22,907	$	3,043	$	416	$	2,619	$	951	$	3,139	$	61,408


(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
December 31, 2019
Beginning balance	$	22,518	$	15,393	$	4,305	$	368	$	2,292	$	283	$	3,294	$	48,453
Provision for loan losses	4,259		259		(444)		79		(219)		275		(974)		3,235
Loans charged-off	(1,447)		(17)		0		0		(110)		(336)		0		(1,910)
Recoveries	459		161		8		0		123		123		0		874
Net loans (charged-off) recovered	(988)		144		8		0		13		(213)		0		(1,036)
Ending balance	$	25,789	$	15,796	$	3,869	$	447	$	2,086	$	345	$	2,320	$	50,652

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

The following tables present balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2020:


(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
December 31, 2020
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	6,310	$	1,377	$	84	$	0	$	270	$	0	$	0	$	8,041
Collectively evaluated for impairment	22,023		21,530		2,959		416		2,349		951		3,139		53,367
Total ending allowance balance	$	28,333	$	22,907	$	3,043	$	416	$	2,619	$	951	$	3,139	$	61,408

Loans:
Loans individually evaluated for impairment	$	12,533	$	5,518	$	428	$	0	$	1,700	$	0	$	0	$	20,179
Loans collectively evaluated for impairment	1,772,393		1,887,054		429,234		93,912		342,999		103,385		0		4,628,977
Total ending loans balance	$	1,784,926	$	1,892,572	$	429,662	$	93,912	$	344,699	$	103,385	$	0	$	4,649,156

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

The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2020:


(dollars in thousands)	Unpaid Principal Balance		Recorded Investment		Allowance for Loan Losses Allocated
With no related allowance recorded:
Commercial and industrial loans:
Working capital lines of credit loans	$	346	$	173	$	0
Non-working capital loans	2,399		968		0
Commercial real estate and multi-family residential loans:
Owner occupied loans	3,002		2,930		0
Agri-business and agricultural loans:
Loans secured by farmland	603		283		0

Consumer 1‑4 family loans:
Closed end first mortgage loans	316		236		0
Open end and junior lien loans	5		5		0
With an allowance recorded:
Commercial and industrial loans:
Working capital lines of credit loans	433		433		255
Non-working capital loans	11,644		10,959		6,055
Commercial real estate and multi-family residential loans:
Owner occupied loans	2,589		2,588		1,377
Agri-business and agricultural loans:
Loans secured by farmland	145		145		84
Consumer 1‑4 family mortgage loans:
Closed end first mortgage loans	1,457		1,459		270



Total	$	22,939	$	20,179	$	8,041

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

The following table presents loans individually evaluated for impairment by class of loans for the year ended December 31, 2020:


(dollars in thousands)	Average Recorded Investment		Interest Income Recognized		Cash Basis Interest Income Recognized
With no related allowance recorded:
Commercial and industrial loans:
Working capital lines of credit loans	$	375	$	0	$	0
Non-working capital loans	816		21		21
Commercial real estate and multi-family residential loans:
Owner occupied loans	2,156		13		12
Agri-business and agricultural loans:
Loans secured by farmland	283		0		0
Loans for agricultural production	4		0		0
Consumer 1-4 family loans:
Closed end first mortgage loans	291		3		2
Open end and junior lien loans	49		0		0
With an allowance recorded:
Commercial and industrial loans:
Working capital lines of credit loans	2,433		0		0
Non-working capital loans	11,579		287		287
Commercial real estate and multi-family residential loans:
Construction and land development loans
Owner occupied loans	3,156		30		30
Agri-business and agricultural loans:
Loans secured by farmland	147		0		0
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans	1,557		36		33
Open end and junior lien loans	481		0		0
Residential construction loans	35		0		0
Other consumer loans	0		0		0
Total	$	23,362	$	390	$	385

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

The following table presents loans individually evaluated for impairment by class of loans for the year ended December 31, 2019:


(dollars in thousands)	Average Recorded Investment		Interest Income Recognized		Cash Basis Interest Income Recognized
With no related allowance recorded:
Commercial and industrial loans:
Working capital lines of credit loans	$	176	$	9	$	9
Non-working capital loans	1,170		40		30
Commercial real estate and multi-family residential loans:

Owner occupied loans	2,354		34		34
Loans for ag production	4		0		0
Agri-business and agricultural loans:
Loans secured by farmland	283		0		0
Consumer 1‑4 family loans:
Closed end first mortgage loans	272		3		3
Open end and junior lien loans	133		0		0
With an allowance recorded:
Commercial and industrial loans:
Working capital lines of credit loans	6,335		143		81
Non-working capital loans	11,800		448		410
Commercial real estate and multi-family residential loans:
Construction and land development loans
Owner occupied loans	1,849		43		39
Agri-business and agricultural loans:
Loans secured by farmland	147		3		1
Consumer 1‑4 family mortgage loans:
Closed end first mortgage loans	1,643		45		43
Open end and junior lien loans	268		0		0
Residential constructions loans	9		0		0
Other consumer loans	21		2		1
Total	$	26,464	$	770	$	651

Nonaccrual loans and loans past due 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans.

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

The following table presents the aging of the recorded investment in past due loans as of December 31, 2020 by class of loans:


(dollars in thousands)	Loans Not Past Due		30-89 Days Past Due		Greater than 90 Days Past Due and Still Accruing		Nonaccrual		Total Past Due and Nonaccrual		Total
Commercial and industrial loans:
Working capital lines of credit loans	$	625,493	$	0	$	0	$	606	$	606	$	626,099
Non-working capital loans	1,153,540		0		0		5,287		5,287		1,158,827
Commercial real estate and multi-family residential loans:
Construction and land development loans	361,664		0		0		0		0		361,664
Owner occupied loans	642,527		0		0		5,047		5,047		647,574
Nonowner occupied loans	579,050		0		0		0		0		579,050
Multi-family loans	304,284		0		0		0		0		304,284
Agri-business and agricultural loans:
Loans secured by farmland	194,935		0		0		428		428		195,363
Loans for agricultural production	234,191		108		0		0		108		234,299
Other commercial loans	93,912		0		0		0		0		93,912
Consumer 1‑4 family mortgage loans:
Closed end first mortgage loans	165,895		877		116		613		1,606		167,501
Open end and junior lien loans	165,094		137		0		5		142		165,236
Residential construction loans	11,962		0		0		0		0		11,962
Other consumer loans	103,240		145		0		0		145		103,385
Total	$	4,635,787	$	1,267	$	116	$	11,986	$	13,369	$	4,649,156

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

As of December 31, 2020, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:


(dollars in thousands)	Pass		Special Mention		Substandard		Doubtful		Not Rated		Total
Commercial and industrial loans:
Working capital lines of credit loans	$	535,071	$	81,095	$	9,718	$	0	$	215	$	626,099
Non-working capital loans	1,111,989		26,523		14,820		0		5,495		1,158,827
Commercial real estate and multi-family residential loans:
Construction and land development loans	361,664		0		0		0		0		361,664
Owner occupied loans	608,845		31,355		7,374		0		0		647,574
Nonowner occupied loans	547,790		31,260		0		0		0		579,050
Multi-family loans	282,031		22,253		0		0		0		304,284
Agri-business and agricultural loans:
Loans secured by farmland	183,983		10,728		652		0		0		195,363
Loans for agricultural production	185,875		48,424		0		0		0		234,299
Other commercial loans	93,912		0		0		0		0		93,912
Consumer 1‑4 family mortgage loans:
Closed end first mortgage loans	40,682		0		1,695		0		125,124		167,501
Open end and junior lien loans	8,424		0		5		0		156,807		165,236
Residential construction loans	0		0		0		0		11,962		11,962
Other consumer loans	36,979		253		0		0		66,153		103,385
Total	$	3,997,245	$	251,891	$	34,264	$	0	$	365,756	$	4,649,156

FAIR VALUE

12 Months Ended

Dec. 31, 2021

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 0-50% 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 and finished inventory is discounted from its cost or book value by 35-65%, depending on the marketability of the goods (b) finished goods are generally discounted by 30-60%, 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 50%-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 30-70% 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, 2021, the fair value of the Company’s Level 3 servicing assets for residential mortgage loans (“MSRs”) was $3.1 million, carried at amortized cost less $715,000 in a valuation reserve, or $2.4 million. These residential mortgage loans have a weighted average interest rate of 3.4%, 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, 2021, the constant prepayment speed (“PSA”) used was 249 and discount rate used was 9.5%. At December 31, 2020, the PSA used was 204 and the discount rate used was 9.4%.

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 table below presents the balances of assets and liabilities measured at fair value on a recurring basis:


	December 31, 2021
	Fair Value Measurements Using						Assets
(dollars in thousands)	Level 1		Level 2		Level 3		at Fair Value
Assets:
U.S. Treasury securities	$	900	$	0	$	0	$	900
U.S. government sponsored agency securities	0		143,452		0		143,452
Mortgage-backed securities: residential	0		486,676		0		486,676
Mortgage-backed securities: commercial	0		523		0		523
State and municipal securities	0		764,964		2,043		767,007
Total Securities	900		1,395,615		2,043		1,398,558
Mortgage banking derivative	0		398		0		398
Interest rate swap derivative	0		14,309		0		14,309
Total assets	$	900	$	1,410,322	$	2,043	$	1,413,265

Liabilities:
Mortgage banking derivative	$	0	$	2	$	0	$	2
Interest rate swap derivative	0		14,329		0		14,329
Total liabilities	$	0	$	14,331	$	0	$	14,331


	December 31, 2020
	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	$	36,487	$	0	$	36,487
Mortgage-backed securities: residential	0		279,503		0		279,503
Mortgage-backed securities: commercial	0		36,881		0		36,881
State and municipal securities	0		381,834		140		381,974
Total Securities	0		734,705		140		734,845
Mortgage banking derivative	0		1,182		0		1,182
Interest rate swap derivative	0		21,764		0		21,764
Total assets	$	0	$	757,651	$	140	$	757,791

Liabilities:
Mortgage banking derivative	$	0	$	111	$	0	$	111
Interest rate swap derivative	0		21,794		0		21,794
Total liabilities	$	0	$	21,905	$	0	$	21,905

The fair value of Level 3 available-for-sale securities was immaterial to warrant additional recurring fair value disclosures as of December 31, 2021 and 2020.

NOTE 5 – FAIR VALUE (continued)

The tables below present the amount of assets measured at fair value on a nonrecurring basis:


	December 31, 2021
	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	$	247	$	247
Non-working capital loans	0		0		5,095		5,095
Commercial real estate and multi-family residential loans:
Owner occupied loans	0		0		791		791
Agri-business and agricultural loans:
Loans secured by farmland	0		0		231		231




Total collateral dependent loans	$	0	$	0	$	6,364	$	6,364
Other real estate owned	0		0		196		196
Total assets	$	0	$	0	$	6,560	$	6,560


	December 31, 2020
	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	$	178	$	178
Non-working capital loans	0		0		4,904		4,904
Commercial real estate and multi-family residential loans:

Owner occupied loans	0		0		1,211		1,211
Agri-business and agricultural loans:
Loans secured by farmland	0		0		61		61
Consumer 1‑4 family mortgage loans:
Closed end first mortgage loans	0		0		411		411


Total collateral dependent loans	$	0	$	0	$	6,765	$	6,765
Other real estate owned	0		0		0		0
Total assets	$	0	$	0	$	6,765	$	6,765

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, 2021:

(dollars in thousands)

Fair Value

Valuation Methodology

Unobservable Inputs

Average

Range of Inputs

Collateral dependent loans:

Commercial and industrial

5,342

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

65%

22%-99%

Collateral dependent loans:

Commercial real estate and multi-family residential loans

791

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

51%

34%-68%

Collateral dependent loans:

Agri-business and agricultural

231

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

35%

3% - 68%

Other real estate owned

196

Appraisals

Discount to reflect current market conditions and ultimate collectability

38%

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, 2020:

(dollars in thousands)

Fair Value

Valuation Methodology

Unobservable Inputs

Average

Range of Inputs

Collateral dependent loans:

Commercial and industrial

5,082

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

55%

16%-100%

Collateral dependent loans:

Commercial real estate

1,211

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

53%

21%-74%

Collateral dependent loans:

Agri-business and agricultural

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

58%

Collateral dependent loans:

Consumer 1-4 family mortgage

411

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

11%

10%-15%

NOTE 5 – FAIR VALUE (continued)

The following table contains the estimated fair values and the related carrying values of the Company’s financial instruments at December 31, 2021. Items which are not financial instruments are not included.


	December 31, 2021
	Carrying		Estimated Fair Value
(dollars in thousands)	Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	683,240	$	681,286	$	1,954	$	0	$	683,240
Securities available-for-sale	1,398,558		900		1,395,615		2,043		1,398,558
Real estate mortgages held-for-sale	7,470		0		7,634		0		7,634
Loans, net	4,220,068		0		0		4,144,000		4,144,000
Mortgage banking derivative	398		0		398		0		398
Interest rate swap derivative	14,309		0		14,309		0		14,309
Federal Reserve and Federal Home Loan Bank Stock	13,772		N/A		N/A		N/A		N/A
Accrued interest receivable	17,674		0		7,689		9,985		17,674
Financial Liabilities:
Certificates of deposit	(829,518)		0		(833,617)		0		(833,617)
All other deposits	(4,905,889)		(4,905,889)		0		0		(4,905,889)

Federal Home Loan Bank advances	(75,000)		0		(66,118)		0		(66,118)
Mortgage banking derivative	(2)		0		(2)		0		(2)
Interest rate swap derivative	(14,329)		0		(14,329)		0		(14,329)
Standby letters of credit	(272)		0		0		(272)		(272)
Accrued interest payable	(2,619)		(84)		(2,535)		0		(2,619)

NOTE 5 – FAIR VALUE (continued)

The following table contains the estimated fair values and the related carrying values of the Company’s financial instruments at December 31, 2020. Items which are not financial instruments are not included.


	December 31, 2020
	Carrying		Estimated Fair Value
(dollars in thousands)	Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	249,927	$	247,228	$	2,699	$	0	$	249,927
Securities available-for-sale	734,845		0		734,705		140		734,845
Real estate mortgages held-for-sale	11,218		0		11,651		0		11,651
Loans, net	4,587,748		0		0		4,532,639		4,532,639
Mortgage banking derivative	1,182		0		1,182		0		1,182
Interest rate swap derivative	21,764		0		21,764		0		21,764
Federal Reserve and Federal Home Loan Bank Stock	13,772		N/A		N/A		N/A		N/A
Accrued interest receivable	18,761		0		3,801		14,960		18,761
Financial Liabilities:
Certificates of deposit	(1,024,819)		0		(1,033,095)		0		(1,033,095)
All other deposits	(4,011,986)		(4,011,986)		0		0		(4,011,986)
Miscellaneous borrowings	(10,500)		0		(10,500)		0		(10,500)
Federal Home Loan Bank advances	(75,000)		0		(68,967)		0		(68,967)
Mortgage banking derivative	(111)		0		(111)		0		(111)
Interest rate swap derivative	(21,794)		0		(21,794)		0		(21,794)
Standby letters of credit	(686)		0		0		(686)		(686)
Accrued interest payable	(5,959)		(66)		(5,893)		0		(5,959)

LAND, PREMISES AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

LAND, PREMISES AND EQUIPMENT, NET

Land, premises and equipment and related accumulated depreciation were as follows at December 31, 2021 and 2020:


(dollars in thousands)	2021		2020
Land	$	12,472	$	12,472
Premises and improvements	58,716		55,682
Equipment and furniture	39,278		38,133
Total cost	110,466		106,287
Less accumulated depreciation	51,157		46,989
Land, premises and equipment, net	$	59,309	$	59,298

The Company had land, premises and equipment of $0 and $100,000 held for sale and included in other assets as of December 31, 2021 and 2020.

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS	Dec. 31, 2021
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, 2021, 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, 2021. Circumstances did not substantially change during the second half of the year such that the Company did not believe it was necessary to do an additional impairment analysis.

DEPOSITS

12 Months Ended

Dec. 31, 2021

Deposits [Abstract]

DEPOSITS

The following table details total deposits as of December 31, 2021 and 2020:


(dollars in thousands)	2021		2020
Non-interest bearing demand deposits	$	1,895,481	$	1,538,331
Savings and transaction accounts:
Savings deposits	409,343		312,702
Interest bearing demand deposits	2,601,065		2,160,953
Time deposits:
Other time deposits	202,395		239,582
Deposits of $100,000 to $250,000	227,606		271,337
Deposits of $250,000 or more	399,517		513,900
Total deposits	$	5,735,407	$	5,036,805

NOTE 8 – DEPOSITS (continued)

At December 31, 2021, the scheduled maturities of time deposits were as follows:


(dollars in thousands)	Amount
Maturing in 2022	$	591,740
Maturing in 2023	174,035
Maturing in 2024	37,600
Maturing in 2025	13,704
Maturing in 2026	12,091
Thereafter	348
Total time deposits	$	829,518

During 2021 and 2020 the Bank entered into agreements with IntraFi Network relative to their Insured Cash Sweep One-Way Buy program. As of December 31, 2021, the total amount available to the Bank via this program was $100.0 million, of which, $10.0 million was drawn compared to availability of $100.0 million and $10.0 million usage as of December 31, 2020.

BORROWINGS

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

BORROWINGS

For the years ending December 31, there was one outstanding advance from the FHLB as follows:


(dollars in thousands)	2021		2020

Federal Home Loan Bank of Indianapolis Putable Advance, 0.39%, Due March 4, 2030	$	75,000	$	75,000

The outstanding advance is a fixed-rate putable advance and may not be prepaid by the Company without penalty. The note requires monthly interest payments and is secured by residential real estate loans and securities with a carrying value of $478.4 million and $611.2 million at December 31, 2021 and 2020, respectively. At December 31, 2021 and 2020, the Company owned $10.4 million 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 $227.8 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 $804.4 million and $557.2 million as of December 31, 2021 and 2020. The Company had a borrowing capacity of $616.5 million and $490.4 million at the Federal Reserve Bank as of December 31, 2021 and 2020, respectively. There were no borrowings outstanding at the Federal Reserve Bank at December 31, 2021 and 2020.

The Company had $350.0 million of availability in federal funds lines with eleven correspondent banks as of December 31, 2021 and 2020; no amounts were drawn on as of either year end. 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. As of December 31, 2021 and 2020, the total amount approved for the Bank via AFX banks was $319.0 million and $394.0 million, respectively. There were no amounts drawn as of December 31, 2021 and 2020.

On August 2, 2019 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 was subsequently amended and renewed on July 30, 2021. Funds provided under the 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 13, 2021. 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. Outstanding borrowings on the credit agreement were $0.00 million and $10.5 million at December 31, 2021 and 2020, respectively.

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

SUBORDINATED DEBENTURES	12 Months Ended
SUBORDINATED DEBENTURES	Dec. 31, 2021
SUBORDINATED DEBENTURES
SUBORDINATED DEBENTURES	SUBORDINATED DEBENTURES Lakeland Statutory Trust II, a trust formed by the Company (the “Trust”), issued $30.0 million of floating rate trust preferred securities on October 1, 2003 as part of a privately placed offering of such securities. The Company issued $30.9 million of subordinated debentures to the Trust in exchange for the proceeds of the Trust. The Company held a controlling interest in the Trust, but did not have a majority of voting rights; therefore the Trust was considered a variable interest entity. The Company was not considered the primary beneficiary of this Trust; therefore, the Trust was not consolidated in the Company’s financial statements, but rather the subordinated debentures was shown as a liability prior to being redeemed. Subject to the Company having received prior approval of the Federal Reserve, the Company was able to redeem the subordinated debentures, in whole or in part, but in all cases in a principal amount with integral multiples of $1,000, on any interest payment date on or after October 1, 2008 at 100% of the principal amount, plus accrued and unpaid interest. The subordinated debentures were required to be redeemed no later than 2033. These securities were considered Tier I capital (with certain limitations applicable) under current regulatory guidelines and, subject to certain limitations, were also considered Tier 1 capital under Basel III. On December 31, 2019, the Company redeemed $30.0 million of trust preferred securities of the Trust. The trust preferred securities were redeemed, along with $928,000 in common securities issued by the Trust and held by the Company, as a result of the concurrent redemption of 100% of the Company’s junior subordinated debentures due 2033 and held by the Trust, which underlie the trust preferred securities. The redemption price for the junior subordinated debentures was equal to 100% of the principal amount plus accrued interest up to, but not including, the redemption date. The proceeds from the redemption of the junior subordinated debentures were simultaneously applied to redeem all of the outstanding common securities and the outstanding trust preferred securities at a price of 100% of the aggregate liquidation amount of the trust preferred securities plus accumulated but unpaid distributions up to, but not including, the redemption date. The redemption was pursuant to the optional redemption provisions of the underlying indenture.

PENSION AND OTHER POSTRETIREMENT PLANS

12 Months Ended

Dec. 31, 2021

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, 2021 and 2020.

Information as to the Company’s employee benefit plans at December 31, 2021 and 2020 is as follows:


	Pension Benefits				SERP Benefits
(dollars in thousands)	2021		2020		2021		2020
Change in benefit obligation:
Beginning benefit obligation	$	2,710	$	2,715	$	968	$	991
Interest cost	52		75		18		27
Actuarial (gain) loss	(153)		276		13		84
Benefits paid	(311)		(356)		(132)		(134)
Ending benefit obligation	2,298		2,710		867		968

Change in plan assets (primarily equity and fixed income investments and money market funds), at fair value:
Beginning plan assets	2,349		2,472		879		914
Actual return	265		233		101		99
Employer contribution	0		0		0		0
Benefits paid	(311)		(356)		(132)		(134)
Ending plan assets	2,303		2,349		848		879
Funded status at end of year	$	5	$	(361)	$	(19)	$	(89)

Amounts recognized in the consolidated balance sheets consist of:


	Pension Benefits				SERP Benefits
(dollars in thousands)	2021		2020		2021		2020
Funded status included in other liabilities	$	5	$	(361)	$	(19)	$	(89)

Amounts recognized in accumulated other comprehensive income consist of:


	Pension Benefits				SERP Benefits
(dollars in thousands)	2021		2020		2021		2020
Net actuarial loss	$	852	$	1,362	$	431	$	553

The accumulated benefit obligation for the pension plan was $2.3 million and $2.7 million for December 31, 2021 and 2020, respectively. The accumulated benefit obligation for the SERP was $0.9 million and $1.0 million for December 31, 2021 and 2020, respectively.

NOTE 11 – PENSION AND OTHER POSTRETIREMENT PLANS (continued)

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


	Pension Benefits						SERP Benefits
(dollars in thousands)	2021		2020		2019		2021		2020		2019
Net pension expense:
Service cost	$	0	$	0	$	0	$	0	$	0	$	0
Interest cost	52		75		87		18		27		37
Expected return on plan assets	(133)		(140)		(137)		(47)		(51)		(55)
Recognized net actuarial (gain) loss	160		171		132		82		80		73
Settlement cost	65		115		0		0		0		0
Net pension expense	$	144	$	221	$	82	$	53	$	56	$	55

Net (gain) loss	$	(350)	$	69	$	353	$	(40)	$	36	$	56
Amortization of net loss	(160)		(171)		(132)		(82)		(80)		(73)
Total recognized in other comprehensive income (loss)	(510)		(102)		221		(122)		(44)		(17)
Total recognized in net pension expense and other comprehensive income (loss)	$	(366)	$	119	$	303	$	(69)	$	12	$	38

The estimated net loss (gain) for the defined benefit pension plan and SERP that will be amortized from accumulated other comprehensive income (loss) into net periodic benefit cost over the next fiscal year is $99,000 for the pension plan and $44,000 for the SERP. The settlement costs in 2021 and 2020 were related to participants taking lump sum distributions from the pension plan during those years.

For 2021, 2020 and 2019, 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, below, for December 31, 2021, 2020 and 2019 reflect the mortality table in effect for 2021, 2020 and 2019, respectively. For 2021, the mortality assumption was changed to the PRI-2012 White Collar Mortality Table, with full generational Projection Scale MP-2021 as of December 31, 2021, to reflect improved mortality expectations. For 2020, the mortality assumption was the PRI-2012 White Collar Mortality Table, with full generational Projection Scale MP-2020 as of December 31, 2020. For 2019, the mortality assumption was the PRI-2012 White Collar Mortality Table, with full generational Projection Scale MP-2019 as of December 31, 2019.

NOTE 11 – PENSION AND OTHER POSTRETIREMENT PLANS (continued)


	Pension Benefits						SERP Benefits
	2021		2020		2019		2021		2020		2019
The following assumptions were used in calculating the net benefit obligation:

Weighted average discount rate	2.49	%	2.08	%	2.98	%	2.49	%	2.08	%	2.98	%
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	0.87	%	0.53	%	2.01	%	N/A		N/A		N/A
Next 15 years	2.74	%	2.31	%	3.06	%	N/A		N/A		N/A
All future years	3.16	%	3.09	%	3.65	%	N/A		N/A		N/A

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

Weighted average discount rate	2.08	%	2.98	%	4.08	%	2.08	%	2.98	%	4.08	%
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.

The Company’s pension plan asset allocation at year end 2021 and 2020, target allocation for 2021, and expected long-term rate of return by asset category are as follows:

NOTE 11 – PENSION AND OTHER POSTRETIREMENT PLANS (continued)


	Target Allocation				Percentage of Plan Assets at Year End				Weighted Average Expected Long-Term Rate of Return
Asset Category	2022				2021		2020
Equity securities	55	-	65	%	61	%	65	%	8.85	%
Debt securities	35	-	45	%	37	%	31	%	3.00	%
Other	5	-	10	%	2	%	4	%	0.10	%
Total					100	%	100	%	6.50	%

The Company’s SERP plan asset allocation at year end 2021 and 2020, target allocation for 2021, 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	2022				2021		2020
Equity securities	55	-	65	%	59	%	64	%	8.85	%
Debt securities	35	-	45	%	36	%	34	%	3.00	%
Other	5	-	10	%	5	%	2	%	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 11 – PENSION AND OTHER POSTRETIREMENT PLANS (continued)

The fair values of the Company’s pension plan assets at December 31, 2021, 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	$	923	$	923	$	0	$	0
Equity securities - US mid cap stock mutual funds	104		104		0		0
Equity securities - US small cap stock mutual funds	106		106		0		0
Equity securities - international stock mutual funds	193		193		0		0
Equity securities - emerging markets stock mutual funds	73		73		0		0
Debt securities - intermediate term bond mutual funds	273		273		0		0
Debt securities - short term bond mutual funds	572		572		0		0
Cash - money market account	59		59		0		0
Total	$	2,303	$	2,303	$	0	$	0

The fair values of the Company’s pension plan assets at December 31, 2020, 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	$	962	$	962	$	0	$	0
Equity securities - US mid cap stock mutual funds	124		124		0		0
Equity securities - US small cap stock mutual funds	129		129		0		0
Equity securities - international stock mutual funds	202		202		0		0
Equity securities - emerging markets stock mutual funds	105		105		0		0
Debt securities - intermediate term bond mutual funds	526		526		0		0
Debt securities - short term bond mutual funds	205		205		0		0
Cash - money market account	93		93		0		0
Total	$	2,346	$	2,346	$	0	$	0

Total pension plan assets available for benefits also include $3,000 in accrued interest and dividend income.

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

NOTE 11 – PENSION AND OTHER POSTRETIREMENT PLANS (continued)

The fair values of the Company’s SERP assets at December 31, 2021, 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	$	327	$	327	$	0	$	0
Equity securities - US mid cap stock mutual funds	38		38		0		0
Equity securities - US small cap stock mutual funds	38		38		0		0
Equity securities - emerging markets stock mutual funds	27		27		0		0
Equity securities - international stock mutual funds	71		71		0		0
Debt securities - intermediate term bond mutual funds	85		85		0		0
Debt securities - short term bond mutual funds	222		222		0		0
Cash - money market account	40		40		0		0
Total	$	848	$	848	$	0	$	0

The fair values of the Company’s SERP assets at December 31, 2020, 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	$	360	$	360	$	0	$	0
Equity securities - US mid cap stock mutual funds	23		23		0		0
Equity securities - US small cap stock mutual funds	72		72		0		0
Equity securities - emerging markets stock mutual funds	37		37		0		0
Equity securities - international stock mutual funds	72		72		0		0
Debt securities - intermediate term bond mutual funds	216		216		0		0
Debt securities - short term bond mutual funds	82		82		0		0
Cash - money market account	16		16		0		0
Total	$	878	$	878	$	0	$	0

Total SERP plan assets available for benefits also include $1,000 in accrued interest and dividend income.

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

Contributions

The Company does not expect to contribute to its pension or SERP plans in 2021.

NOTE 11 – 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)
2022	$	193	$	130
2023	209		123
2024	182		115
2025	190		105
2026	191		94
2027-2031	703		294

- Definition

The entire disclosure for retirement benefits.

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+ Details

OTHER BENEFIT PLANS	12 Months Ended
OTHER BENEFIT PLANS	Dec. 31, 2021
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 employees to contribute 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 $2.3 million, $1.9 million and $1.8 million in 2021, 2020 and 2019, 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 recognized was $1.2 million, $1.0 million and $461,000 during the years ended December 31, 2021, 2020 and 2019, respectively. This resulted in a deferred compensation liability of $7.0 million and $5.7 million as of year end 2021 and 2020, 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 $5.3 million as of December 31, 2021. On December 31, 2021, 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, 2021 and 2020 was $5.2 million and $4.8 million, respectively. The related expense for the deferred directors’ compensation and cash plans for the years ended December 31, 2021, 2020 and 2019 was $482,000, $505,000 and $515,000, respectively.

INCOME TAXES

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

INCOME TAXES

Income tax expense for the years ended December 31, 2021, 2020 and 2019 consisted of the following:


(dollars in thousands)	2021		2020		2019
Current federal	$	21,329	$	20,032	$	19,430
Deferred federal	(1,249)		(1,688)		(408)

Current state	1,892		1,484		1,394
Deferred state	(261)		(289)		(78)
Total income tax expense	$	21,711	$	19,539	$	20,338

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)	2021		2020		2019
Income taxes at statutory federal rate of 21%	$	24,663	$	21,814	$	22,551
Increase (decrease) in taxes resulting from:
Tax exempt income	(2,822)		(1,925)		(1,682)
Nondeductible expense	116		117		194
State income tax, net of federal tax effect	1,288		944		1,040
Captive insurance premium income	(303)		(227)		(310)
Tax credits	(578)		(540)		(548)
Bank owned life insurance	(596)		(595)		(573)
Long-term incentive plan	(274)		(58)		(421)
Nondeductible compensation expense	156		0		0
Other	61		9		87
Total income tax expense	$	21,711	$	19,539	$	20,338

NOTE 13 – INCOME TAXES (continued)

The net deferred tax asset recorded in the consolidated balance sheets at December 31, 2021 and 2020 consisted of the following:


(dollars in thousands)	2021		2020
Deferred tax assets:
Bad debts	$	17,321	$	15,634
Pension and deferred compensation liability	2,351		2,006
Nonaccrual loan interest	600		892
Long-term incentive plan	1,896		1,212
Lease liability	1,078		1,190
Deferred loan fees	771		—
Other	191		745
	24,208		21,679
Deferred tax liabilities:
Depreciation	4,279		4,718
Loan servicing rights	717		1,162
State taxes	679		524
Intangible assets	1,270		1,265
REIT spillover dividend	1,180		1,180
Prepaid expenses	952		948
Lease right of use	1,078		1,190
Other	194		442
	10,349		11,429
Valuation allowance	0		0
Net deferred tax asset	$	13,859	$	10,250

In addition to the net deferred tax assets included above, the deferred income tax liability allocated to the unrealized net gain on securities available-for-sale included in equity was ($4.5 million) and ($7.8 million) for 2021 and 2020, respectively. The deferred income tax asset allocated to the pension plan and SERP included in equity was $319,000 and $476,000 for 2021 and 2020, respectively.

The Company evaluated its deferred tax asset at year end 2021 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, 2021 or 2020. 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, 2021, 2020 and 2019. 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 2017.

- 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

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+ Details

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2021

RELATED PARTY TRANSACTIONS

Loans to principal officers, directors, and their affiliates as of December 31, 2021 and 2020 were as follows:


(dollars in thousands)	2021		2020
Beginning balance	$	104,694	$	83,980
New loans and advances	74,115		120,049
Effect of changes in related parties	(62)		1,650
Repayments and renewals	(78,882)		(100,985)
Ending balance	$	99,865	$	104,694

Deposits from principal officers, directors, and their affiliates at year end 2021 and 2020 were $30.2 million and $36.8 million, respectively.

STOCK BASED COMPENSATION

12 Months Ended

Dec. 31, 2021

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, 2021, 454,308 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, 2021, 2020 and 2019 was employee stock compensation expense of $7.2 million, $1.8 million and $4.2 million, and a related tax benefit of $1.8 million, $0.5 million and $1.1 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 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 2021, 2020 or 2019. As of December 31, 2021, 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, 2021, 2020 or 2019.

NOTE 15 – STOCK BASED COMPENSATION (continued)

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 14,950 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, 2021	5,000	$	45.22
Granted	14,950	59.26
Vested	(18,450)	56.69
Nonvested at December 31, 2021	1,500	$	44.10

As of December 31, 2021, there was no unrecognized compensation cost related to non-vested shares granted under the plan. The total fair value of shares vested during the years ended December 31, 2021, 2020 and 2019 was $1.1 million, $0.7 million and $0.7 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 2021-2023, 2020-2022 and 2019-2021 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 2021-2023, 2020-2022 and 2019-2021 Long-Term Incentive Plans at December 31, 2021.


Nonvested Shares	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2021	157,515	$	44.85
Granted, net	212,475	51.59
Vested	(83,216)	45.64
Forfeited	(15,004)	45.72
Nonvested at December 31, 2021	271,770	$	49.83

As of December 31, 2021, there was $6.4 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 1.77 years. The total fair value of shares vested during the year ended December 31, 2021, 2020 and 2019 was $5.2 million, $5.7 million and $5.7 million, respectively. During the years ended December 31, 2021, 2020 and 2019, 83,216, 120,204 and 126,672 shares vested, respectively.

CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS

12 Months Ended

Dec. 31, 2021

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 2021 and 2020 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, 2021 and 2020, 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, 2021 and 2020, that the Company and the Bank met all capital adequacy requirements to which they are subject.

NOTE 16 – CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS (continued)

As of December 31, 2021, 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, 2021
Total Capital (to Risk Weighted Assets)
Consolidated	$	744,421	15.35%	$	388,020	8.00%	$	509,276	N/A	N/A		N/A
Bank	$	726,091	15.01%	$	387,118	8.00%	$	508,093	10.50%	$	483,898	10.00%
Tier I Capital (to Risk Weighted Assets)
Consolidated	$	683,754	14.10%	$	291,015	6.00%	$	412,271	N/A	N/A		N/A
Bank	$	665,424	13.75%	$	290,339	6.00%	$	411,313	8.50%	$	387,118	8.00%
Common Equity Tier 1 (CET1)
Consolidated	$	683,754	14.10%	$	218,261	4.50%	$	339,518	N/A	N/A		N/A
Bank	$	665,424	13.75%	$	217,754	4.50%	$	338,729	7.00%	$	314,534	6.50%
Tier I Capital (to Average Assets)
Consolidated	$	683,754	10.73%	$	254,898	4.00%	$	254,898	N/A	N/A		N/A
Bank	$	665,424	10.46%	$	254,425	4.00%	$	254,425	4.00%	$	318,030	5.00%

As of December 31, 2020
Total Capital (to Risk Weighted Assets)
Consolidated	$	682,778	14.65%	$	372,921	8.00%	$	489,459	N/A	N/A		N/A
Bank	$	678,034	14.56%	$	372,560	8.00%	$	488,985	10.50%	$	465,700	10.00%
Tier I Capital (to Risk Weighted Assets)
Consolidated	$	624,381	13.39%	$	279,691	6.00%	$	396,229	N/A	N/A		N/A
Bank	$	619,693	13.31%	$	279,420	6.00%	$	395,845	8.50%	$	372,560	8.00%
Common Equity Tier 1 (CET1)
Consolidated	$	624,381	13.39%	$	209,768	4.50%	$	326,306	N/A	N/A		N/A
Bank	$	619,693	13.31%	$	209,565	4.50%	$	325,990	7.00%	$	302,705	6.50%
Tier I Capital (to Average Assets)
Consolidated	$	624,381	10.93%	$	228,406	4.00%	$	228,406	N/A	N/A		N/A
Bank	$	619,693	10.88%	$	227,900	4.00%	$	227,900	4.00%	$	284,875	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, 2021, approximately $106.9 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, 2021. 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.

OFFSETTING ASSETS AND LIABILITIES

12 Months Ended

Dec. 31, 2021

OFFSETTING ASSETS AND LIABILITIES

OFFSETTING ASSETS AND LIABILITIES

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, 2021 and 2020.


	December 31, 2021
	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	$	14,309	$	0	$	14,309	$	0	$	(2,255)	$	12,054
Total Assets	$	14,309	$	0	$	14,309	$	0	$	(2,255)	$	12,054
Liabilities
Interest Rate Swap Derivatives	$	14,329	$	0	$	14,329	$	0	$	(7,995)	$	6,334
Total Liabilities	$	14,329	$	0	$	14,329	$	0	$	(7,995)	$	6,334


	December 31, 2020
	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	$	21,764	$	0	$	21,764	$	0	$	0	$	21,764
Total Assets	$	21,764	$	0	$	21,764	$	0	$	0	$	21,764
Liabilities
Interest Rate Swap Derivatives	$	21,794	$	0	$	21,794	$	0	$	(21,370)	$	424
Total Liabilities	$	21,794	$	0	$	21,794	$	0	$	(21,370)	$	424

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.

COMMITMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2021

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, 2021 and 2020, were as follows:


	2021				2020
(dollars in thousands)	Fixed Rate		Variable Rate		Fixed Rate		Variable Rate
Commercial loan lines of credit	$	79,792	$	1,850,719	$	52,568	$	1,646,539
Standby letters of credit	0		55,336		0		53,796
Real estate mortgage loans	7,906		14,216		11,984		3,921
Real estate construction mortgage loans	2,402		3,213		767		3,051
Home equity mortgage open-ended revolving lines	0		306,124		0		267,530
Consumer loan open-ended revolving lines	0		23,287		0		19,918
Total	$	90,100	$	2,252,895	$	65,319	$	1,994,755

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, 2021 and 2020, were as follows:


	2021		2020
	Fixed Rate	Variable Rate	Fixed Rate	Variable Rate
Commercial loan	1.99-14.50%	1.11-10.00%	1.00-14.50%	1.16-9.25%
Real estate mortgage loan	2.50-3.75%	3.00-8.25%	2.63-3.75%	3.00-5.75%
Consumer loan open-ended revolving line	15.00%	3.25-15.00%	15.00%	3.00-15.00%

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.

PARENT COMPANY STATEMENTS

12 Months Ended

Dec. 31, 2021

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)	2021		2020
ASSETS
Deposits with Lake City Bank	$	834	$	568
Deposits with other depository institutions	2,459		2,433
Cash	3,293		3,001
Investments in banking subsidiary	686,487		652,407
Investments in other subsidiaries	3,468		3,043
Other assets	11,830		9,455
Total assets	$	705,078	$	667,906
LIABILITIES
Dividends payable and other liabilities	$	261	$	311
Borrowings	0		10,500
STOCKHOLDERS’ EQUITY	704,817		657,095
Total liabilities and stockholders’ equity	$	705,078	$	667,906

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME


	Years Ended December 31,
(dollars in thousands)	2021		2020		2019
Dividends from Lake City Bank	$	47,355	$	32,079	$	57,842
Dividends from non-bank subsidiaries	1,035		1,300		1,302
Other income	3		0		155
Interest expense	(7)		0		(1,720)
Miscellaneous expense	(8,133)		(3,935)		(5,321)
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES	40,253		29,444		52,258
Income tax benefit	2,360		1,065		2,256
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES	42,613		30,509		54,514
Equity in undistributed income of subsidiaries	53,120		53,828		32,533
NET INCOME	$	95,733	$	84,337	$	87,047
COMPREHENSIVE INCOME	$	84,082	$	100,022	$	105,297

NOTE 19 – PARENT COMPANY STATEMENTS (continued)

CONDENSED STATEMENTS OF CASH FLOWS


	Years Ended December 31,
(dollars in thousands)	2021		2020		2019
Cash flows from operating activities:
Net income	$	95,733	$	84,337	$	87,047
Adjustments to net cash from operating activities:
Equity in undistributed income of subsidiaries	(53,120)		(53,828)		(32,533)
Other changes	5,177		1,257		3,529
Net cash from operating activities	47,790		31,766		58,043
Cash flows from financing activities
Repayment of long-term debt	0		0		(30,928)
Proceeds from (payments on) short-term borrowings	(10,500)		10,500		0
Payments related to equity incentive plans	(1,914)		(2,137)		(2,109)
Purchase of treasury stock	(559)		(10,547)		(515)
Sales of treasury stock	115		119		118
Dividends paid	(34,640)		(30,566)		(29,639)
Cash flows from financing activities	(47,498)		(32,631)		(63,073)
Net increase (decrease) in cash and cash equivalents	292		(865)		(5,030)
Cash and cash equivalents at beginning of the year	3,001		3,866		8,896
Cash and cash equivalents at end of the year	$	3,293	$	3,001	$	3,866

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2021

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)	2021		2020		2019
Basic earnings per common share:
Net income	$	95,733	$	84,337	$	87,047
Weighted-average common shares outstanding	25,475,994		25,469,242		25,588,404
Basic earnings per common share	$	3.76	$	3.31	$	3.40
Diluted earnings per common share:
Net income	$	95,733	$	84,337	$	87,047
Weighted-average common shares outstanding for basic earnings per common share	25,475,994		25,469,242		25,588,404
Add: Dilutive effect of assumed exercises of stock options and awards	144,111		104,699		170,489
Average shares and dilutive potential common shares	25,620,105		25,573,941		25,758,893
Diluted earnings per common share	$	3.74	$	3.30	$	3.38

There were no antidilutive stock options for 2021, 2020 and 2019.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2021

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 December 31, 2021 and 2020, 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, 2021	$	29,182	$	(1,438)	$	27,744
Other comprehensive income (loss) before reclassification	(11,496)		293		(11,203)
Amounts reclassified from accumulated other comprehensive income (loss)	(630)		182		(448)
Net current period other comprehensive income (loss)	(12,126)		475		(11,651)
Balance at December 31, 2021	$	17,056	$	(963)	$	16,093


(dollars in thousands)	Unrealized Gains and (Losses) on Available-for-Sales Securities		Defined Benefit Pension Items		Total
Balance at January 1, 2020	$	13,607	$	(1,548)	$	12,059
Other comprehensive income (loss) before reclassification	15,917		(78)		15,839
Amounts reclassified from accumulated other comprehensive income (loss)	(342)		188		(154)
Net current period other comprehensive income (loss)	15,575		110		15,685
Balance at December 31, 2020	$	29,182	$	(1,438)	$	27,744

NOTE 21 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (continued)

Reclassifications out of accumulated comprehensive income for the years ended December 31, 2021, 2020 and 2019 are as follows:


Details about Accumulated Other Comprehensive Income Components	Amount Reclassified From Accumulated Other Comprehensive Income		Affected Line Item in the Statement Where Net Income is Presented
2021
(dollars in thousands)
Realized gains and (losses) on available-for-sale securities	$	797	Net securities gains
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


2020
(dollars in thousands)
Realized gains and (losses) on available-for-sale securities	$	433	Net securities gains
Tax effect	(91)		Income tax expense
Subtotal	342		Net of tax
Amortization of defined benefit pension items(1)	(251)		Salaries and employee benefits
Tax effect	63		Income tax expense
Subtotal	(188)		Net of tax
Total reclassifications for the period	$	154	Net income


2019
(dollars in thousands)
Realized gains and (losses) on available-for-sale securities	$	142	Net securities gains
Tax effect	(30)		Income tax expense
Subtotal	112		Net of tax
Amortization of defined benefit pension items(1)	(205)		Salaries and employee benefits
Tax effect	52		Income tax expense
Subtotal	(153)		Net of tax
Total reclassifications for the period	$	(41)	Net income

(1)Included in the computation of net pension plan expense as more fully discussed in Note 11 – Pension and Other Postretirement Plans.

SELECTED QUARTERLY DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2021

Selected Quarterly Financial Information [Abstract]

SELECTED QUARTERLY DATA (UNAUDITED)

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


2021	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Interest income	$	48,322	$	49,295	$	47,625	$	47,977
Interest expense	3,315		3,554		3,964		4,298
Net interest income	45,007		45,741		43,661		43,679
Provision for credit losses	0		1,300		(1,700)		1,477
Net interest income after provision	45,007		44,441		45,361		42,202
Noninterest income	9,709		11,114		11,340		12,557
Noninterest expense	24,926		25,967		26,648		26,746
Income tax expense	5,507		5,469		5,705		5,030
Net income	$	24,283	$	24,119	$	24,348	$	22,983

Basic earnings per common share	$	0.95	$	0.95	$	0.96	$	0.90
Diluted earnings per common share	$	0.95	$	0.94	$	0.95	$	0.90


2020	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Interest income	$	49,854	$	45,979	$	46,831	$	50,439
Interest expense	5,141		6,066		7,303		11,585
Net interest income	44,713		39,913		39,528		38,854
Provision for credit losses	920		1,750		5,500		6,600
Net interest income after provision	43,793		38,163		34,028		32,254
Noninterest income	11,782		13,115		11,169		10,777
Noninterest expense	24,912		23,125		21,079		22,089
Income tax expense	6,071		5,377		4,448		3,643
Net income	$	24,592	$	22,776	$	19,670	$	17,299

Basic earnings per common share	$	0.97	$	0.89	$	0.77	$	0.68
Diluted earnings per common share	$	0.97	$	0.89	$	0.77	$	0.67

WARRANT	12 Months Ended
WARRANT	Dec. 31, 2021
Warrants and Rights Note Disclosure [Abstract]
WARRANT	WARRANT On February 27, 2009, the Company entered into a Letter Agreement with the Treasury, pursuant to which the Company issued (i) 56,044 shares of the Company’s Series A Preferred Stock and (ii) the Warrant to purchase 396,538 shares of the Company’s common stock, no par value, for an aggregate purchase price of $56,044,000 in cash. This transaction was conducted in accordance with the CPP. On June 9, 2010, the Company redeemed the Series A Preferred Stock and accreted the remaining unamortized discount on these shares. The Company did not repurchase the Warrant, and the Warrant was sold by Treasury to an independent, third party. The Warrant had a 10-year term and was immediately exercisable upon its issuance, with an exercise price, subject to anti-dilution adjustments, equal to $21.20 per share of the common stock (trailing 20-day Lakeland average closing price as of December 17, 2008, which was the last trading day prior to date of receipt of Treasury’s preliminary approval for our participation in the CPP). The Warrant was valued using the Black-Scholes model with the following assumptions: market price of $17.45; exercise price of $21.20; risk-free interest rate of 3.02%; expected life of 10 years; expected dividend rate on common stock of 4.5759% and volatility of common stock price of 41.8046%. This resulted in a value of $4.4433 per share of common stock underlying the Warrant. NOTE 23 – WARRANT (continued) On December 3, 2009, the Company was notified by Treasury that, as a result of the Company’s completion of our November 18, 2009 Qualified Equity Offering, the amount of the Warrant was reduced by 50% to 198,269 shares. In accordance with the terms of the Warrant, the number of shares issuable upon exercise and the exercise price were adjusted each time the Company paid a dividend to its stockholders in excess of the dividend paid at the time the warrant was issued. Based on the formula set forth in the warrant, at December 31, 2018, the number of shares issuable upon exercise of the Warrant were 314,846 and the exercise price was $13.3503. On February 4, 2019, the Company was notified that the holder of the Warrant was initiating the exercise on a cashless basis. At the time of exercise, the holder was entitled to 315,961 shares of common stock. The cost to exercise the Warrant was approximately $4.2 million, which was the equivalent of 91,894 shares of common stock with a fair value of $45.74 per share. On February 8, 2019, the Company issued 224,066 shares to the Warrant holder as a cashless exercise and the Warrant was retired. The issuance of the shares was exempt from registration pursuant to Section 3(a)(9) under the Securities Act of 1933.

LEASES

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

LEASES

The Company leases certain office facilities under long-term operating lease agreements. The leases expire at various dates through 2029 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.

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 standard. The following is a maturity analysis of the operating lease liabilities as of December 31, 2021:


Years ending December 31, (in thousands)	Operating Lease Obligation
2022	$	595
2023	606
2024	622
2025	640
2026	617
2027 and thereafter	1,616
Total undiscounted lease payments	4,696
Less imputed interest	(478)
Lease liability	$	4,218
Right-of-use asset	$	4,218

NOTE 24 – LEASES (continued)


	Year Ended		Year Ended		Year Ended
	December 31, 2021		December 31, 2020		December 31, 2019
Lease cost
Operating lease cost	$	536	$	536	$	498
Short-term lease cost	24		24		24
Total lease cost	$	560	$	560	$	522


Other information
Operating cash outflows from operating leases	$	536		$	536		$	498
Weighted-average remaining lease term - operating leases	7.9			8.8			9.8
Weighted average discount rate - operating leases	2.8		%	2.8		%	2.8		%

COVID-19 AND CURRENT ECONOMIC CONDITIONS	12 Months Ended
COVID-19 AND CURRENT ECONOMIC CONDITIONS	Dec. 31, 2021
Unusual or Infrequent Items, or Both [Abstract]
COVID-19 AND CURRENT ECONOMIC CONDITIONS	COVID-19 and CURRENT ECONOMIC CONDITIONS On March 11, 2020, the World Health Organization announced that the COVID-19 outbreak was deemed a pandemic, and on March 13, 2020, the President declared the ongoing COVID-19 pandemic of sufficient magnitude to warrant an emergency declaration. The extent of COVID-19’s effect on the Company’s operational and financial performance will depend on future developments. As a result, it is not currently possible to ascertain the overall impact of COVID-19 on the Company’s business. However, if the pandemic continues to evolve into a prolonged worldwide health crisis, the disease could have a material adverse effect on the Company’s business, results of operations, financial condition, liquidity and cash flows. The fair value of certain assets could be impacted by the effects of COVID-19. The carrying value of loans, goodwill, right-of-use lease assets, other real estate owned and mortgage servicing rights could decrease resulting in future impairment losses. Management will continue to evaluate current economic conditions to determine if a triggering event would impact the current valuations for these assets.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Nature of Operations and Principles of Consolidation

Nature of Operations and Principles of Consolidation:

Use of Estimates

Use of Estimates:

Cash Flows

Cash Flows:

Securities

Securities:

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

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.

Loans

Loans:

Allowance for Credit Losses

Allowance for Credit Losses:

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Other Commercial - Borrowers may be subject to the uninterrupted flow of funds to states and other political subdivisions for the purpose of debt repayments on loans held by the Bank.

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.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Credit Quality Indicators:

The Company uses the following definitions for risk ratings:

Investments in Limited Partnerships

Investments in Limited Partnerships:

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Foreclosed Assets

Foreclosed Assets:

Land, Premises and Equipment, Net

Land, Premises and Equipment, Net:

Loan Servicing Rights

Loan Servicing Rights:

Transfers of Financial Assets

Transfers of Financial Assets:

Mortgage Banking Derivatives

Mortgage Banking Derivatives:

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Interest Rate Swap Derivatives

Interest Rate Swap Derivatives:

The Company is a party in risk participation transactions of interest rate swaps, which had a total notional amount of $4.6 million and 5.0 million at December 31, 2021 and 2020, respectively.

Bank Owned Life Insurance

Bank Owned Life Insurance:

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets:

FHLB and Federal Reserve Bank Stock

FHLB and Federal Reserve Bank Stock:

Repurchase Agreements

Repurchase Agreements:

Long-term Assets

Long-term Assets:

Benefit Plans

Benefit Plans:

An employee deferred compensation plan is available to certain employees with returns based on investments in mutual funds.

Revenue from Contract with Customer

Revenue Recognition:

Wealth advisory fees

Investment brokerage services

Service charges on deposit accounts

Interchange income

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Gain on sale of other real estate (OREO) owned financed by seller

Debit card incentive rebates

Stock Based Compensation

Stock Based Compensation:

Income Taxes

Income Taxes:

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:

Earnings Per Common Share

Earnings Per Common Share:

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Comprehensive Income

Comprehensive Income:

Loss Contingencies

Loss Contingencies:

Management does not believe there currently are matters that will have a material effect on the financial statements.

Restrictions on Cash

Restrictions on Cash:

Dividend Restriction

Dividend Restriction:

Fair Value of Financial Instruments

Fair Value of Financial Instruments:

Operating Segments

Operating Segments:

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

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:

The following table illustrates the impact of adoption of the ASU:


	January 1, 2021
(dollars in thousands)	As Reported Under ASC 326		Pre-ASC 326 Adoption		Impact of ASC 326 Adoption
Loans
Commercial and industrial loans	$	32,645	$	28,333	$	4,312
Commercial real estate and multi-family residential loans	27,223		22,907		4,316
Agri-business and agricultural loans	4,103		3,043		1,060
Other commercial loans	1,357		416		941
Consumer 1-4 family loans	3,572		2,619		953
Other consumer loans	1,300		951		349
Unallocated	258		3,139		(2,881)
Allowance for credit losses	$	70,458	$	61,408	$	9,050

The Company’s loan segmentation, as disclosed in “Note 3 – Loans”, did not change as a result of adopting this ASU.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Newly Issued But Not Yet Effective Accounting Standards

Newly Issued But Not Yet Effective Accounting Standards:

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

guidance under ASC-848 will be available for a limited time, generally through December 31, 2022. The Company expects to adopt the LIBOR transition relief allowed under this standard.

Reclassifications

Reclassifications:

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Impact of Adoption of the ASU

The following table illustrates the impact of adoption of the ASU:


	January 1, 2021
(dollars in thousands)	As Reported Under ASC 326		Pre-ASC 326 Adoption		Impact of ASC 326 Adoption
Loans
Commercial and industrial loans	$	32,645	$	28,333	$	4,312
Commercial real estate and multi-family residential loans	27,223		22,907		4,316
Agri-business and agricultural loans	4,103		3,043		1,060
Other commercial loans	1,357		416		941
Consumer 1-4 family loans	3,572		2,619		953
Other consumer loans	1,300		951		349
Unallocated	258		3,139		(2,881)
Allowance for credit losses	$	70,458	$	61,408	$	9,050

SECURITIES (Tables)

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Summary of Available-For-Sale Securities


(dollars in thousands)	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Losses		Fair Value
2021
U.S. Treasury securities	$	900	$	0	$	0	$	900
U.S. government sponsored agencies	145,858		39		(2,445)		143,452
Mortgage-backed securities: residential	487,157		4,455		(4,936)		486,676
Mortgage-backed securities: commercial	522		1		0		523
State and municipal securities	742,532		25,749		(1,274)		767,007
Total	$	1,376,969	$	30,244	$	(8,655)	$	1,398,558

2020
U.S. government sponsored agencies	$	36,492	$	56	$	(61)	$	36,487
Mortgage-backed securities: residential	270,231		9,289		(17)		279,503
Mortgage-backed securities: commercial	35,877		1,004		0		36,881
State and municipal securities	355,306		26,696		(28)		381,974
Total	$	697,906	$	37,045	$	(106)	$	734,845

Schedule of Available-For-Sale Securities By Maturity


(dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	3,700	$	3,704
Due after one year through five years	9,534		9,823
Due after five years through ten years	52,232		54,892
Due after ten years	823,824		842,940
	889,290		911,359
Mortgage-backed securities	487,679		487,199
Total debt securities	$	1,376,969	$	1,398,558

Schedule of Sales of Securities Available For Sale

Security proceeds, gross gains and gross losses for 2021, 2020 and 2019 were as follows:


(dollars in thousands)	2021		2020		2019
Sales of securities available-for-sale
Proceeds	$	13,964	$	8,018	$	57,114
Gross gains	797		433		279
Gross losses	0		0		(137)
Number of securities	9		17		46

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
2021
U.S. government sponsored agencies	$	85,968	$	1,364	$	28,676	$	1,081	$	114,644	$	2,445
Mortgage-backed securities: residential	272,264		4,076		22,792		860		295,056		4,936

State and municipal securities	138,659		1,274		0		0		138,659		1,274
Total temporarily impaired	$	496,891	$	6,714	$	51,468	$	1,941	$	548,359	$	8,655

2020
U.S. government sponsored agencies	$	19,800	$	61	$	0	$	0	$	19,800	$	61
Mortgage-backed securities: residential	3		0		3,112		17		3,115		17

State and municipal securities	6,921		28		0		0		6,921		28
Total temporarily impaired	$	26,724	$	89	$	3,112	$	17	$	29,836	$	106

Schedule of Quantitative Disclosure of Available-For-Sale Securities

The number of securities with unrealized losses as of December 31, 2021 and 2020 is presented below.


	Less than 12 months	12 months or more	Total
2021
U.S. government sponsored agencies	8	5	13
Mortgage-backed securities: residential	29	3	32

State and municipal securities	80	0	80
Total temporarily impaired	117	8	125

2020
U.S. government sponsored agencies	3	0	3
Mortgage-backed securities: residential	2	1	3

State and municipal securities	2	0	2
Total temporarily impaired	7	1	8

LOANS (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Schedule of Loans

Total loans outstanding as of the years ended December 31, 2021 and 2020 consisted of the following:


(dollars in thousands)	2021		2020
Commercial and industrial loans:
Working capital lines of credit loans	$	652,861	$	626,023
Non-working capital loans	736,608		1,165,355
Total commercial and industrial loans	1,389,469		1,791,378

Commercial real estate and multi-family residential loans:
Construction and land development loans	379,813		362,653
Owner occupied loans	739,371		648,019
Nonowner occupied loans	588,458		579,625
Multi-family loans	247,204		304,717
Total commercial real estate and multi-family residential loans	1,954,846		1,895,014

Agri-business and agricultural loans:
Loans secured by farmland	206,331		195,410
Loans for agricultural production	239,494		234,234
Total agri-business and agricultural loans	445,825		429,644

Other commercial loans	73,490		94,013
Total commercial loans	3,863,630		4,210,049

Consumer 1-4 family mortgage loans:
Closed end first mortgage loans	176,561		167,847
Open end and junior lien loans	156,238		163,664
Residential construction and land development loans	11,921		12,007
Total consumer 1-4 family mortgage loans	344,720		343,518

Other consumer loans	82,755		103,616
Total consumer loans	427,475		447,134
Gross loans	4,291,105		4,657,183
Less: Allowance for credit losses	(67,773)		(61,408)
Net deferred loan fees	(3,264)		(8,027)
Loans, net	$	4,220,068	$	4,587,748

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY (Tables)

12 Months Ended

Dec. 31, 2021

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY

In 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, 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
December 31, 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


(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
December 31, 2020
Beginning balance	$	25,789	$	15,796	$	3,869	$	447	$	2,086	$	345	$	2,320	$	50,652
Provision for loan losses	6,640		6,868		(826)		(31)		341		959		819		14,770
Loans charged-off	(4,524)		(72)		0		0		(141)		(516)		0		(5,253)
Recoveries	428		315		0		0		333		163		0		1,239
Net loans (charged-off) recovered	(4,096)		243		0		0		192		(353)		0		(4,014)
Ending balance	$	28,333	$	22,907	$	3,043	$	416	$	2,619	$	951	$	3,139	$	61,408


(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
December 31, 2019
Beginning balance	$	22,518	$	15,393	$	4,305	$	368	$	2,292	$	283	$	3,294	$	48,453
Provision for loan losses	4,259		259		(444)		79		(219)		275		(974)		3,235
Loans charged-off	(1,447)		(17)		0		0		(110)		(336)		0		(1,910)
Recoveries	459		161		8		0		123		123		0		874
Net loans (charged-off) recovered	(988)		144		8		0		13		(213)		0		(1,036)
Ending balance	$	25,789	$	15,796	$	3,869	$	447	$	2,086	$	345	$	2,320	$	50,652

The following tables present balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2020:


(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
December 31, 2020
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	6,310	$	1,377	$	84	$	0	$	270	$	0	$	0	$	8,041
Collectively evaluated for impairment	22,023		21,530		2,959		416		2,349		951		3,139		53,367
Total ending allowance balance	$	28,333	$	22,907	$	3,043	$	416	$	2,619	$	951	$	3,139	$	61,408

Loans:
Loans individually evaluated for impairment	$	12,533	$	5,518	$	428	$	0	$	1,700	$	0	$	0	$	20,179
Loans collectively evaluated for impairment	1,772,393		1,887,054		429,234		93,912		342,999		103,385		0		4,628,977
Total ending loans balance	$	1,784,926	$	1,892,572	$	429,662	$	93,912	$	344,699	$	103,385	$	0	$	4,649,156

Risk category of loans by loan segment and origination

The following table summarizes the risk category of loans by loan segment and origination date as of December 31, 2021:


(dollars in thousands)	2021		2020		2019		2018		2017		Prior		Term Total		Revolving		Total
Commercial and industrial loans:
Working capital lines of credit loans:
Pass	$	3,699	$	830	$	3,360	$	0	$	0	$	0	$	7,889	$	558,634	$	566,523
Special Mention	0		0		0		0		0		0		0		60,441		60,441
Substandard	0		0		35		0		0		0		35		25,928		25,963


Total	3,699		830		3,395		0		0		0		7,924		645,003		652,927
Non-working capital loans:
Pass	185,374		139,157		79,477		38,899		19,415		18,489		480,811		203,794		684,605
Special Mention	17,728		0		225		979		2,350		1,426		22,708		0		22,708
Substandard	2,996		6,948		1,091		2,534		5,465		426		19,460		3,321		22,781

Not Rated	2,265		1,758		837		563		128		14		5,565		0		5,565
Total	208,363		147,863		81,630		42,975		27,358		20,355		528,544		207,115		735,659
Commercial real estate and multi-family residential loans:
Construction and land development loans:
Pass	35,136		30,224		1,276		998		0		0		67,634		310,396		378,030




Total	35,136		30,224		1,276		998		0		0		67,634		310,396		378,030
Owner occupied loans:
Pass	135,861		169,404		124,117		85,070		78,155		93,925		686,532		29,611		716,143
Special Mention	6,555		0		880		933		7,387		1,235		16,990		0		16,990
Substandard	489		1,570		909		1,758		694		238		5,658		0		5,658


Total	142,905		170,974		125,906		87,761		86,236		95,398		709,180		29,611		738,791
Nonowner occupied loans:
Pass	146,342		154,433		107,262		19,054		31,023		59,154		517,268		44,362		561,630
Special Mention	11,825		331		0		0		0		14,253		26,409		0		26,409



Total	158,167		154,764		107,262		19,054		31,023		73,407		543,677		44,362		588,039
Multi-family loans:
Pass	84,678		53,195		36,575		12,286		14,574		9,793		211,101		13,434		224,535
Special Mention	0		0		0		0		22,252		0		22,252		0		22,252



Total	84,678		53,195		36,575		12,286		36,826		9,793		233,353		13,434		246,787
Agri-business and agricultural loans:
Loans secured by farmland:
Pass	47,532		37,035		16,249		10,469		10,454		17,021		138,760		61,774		200,534
Special Mention	0		1,985		2,303		0		180		30		4,498		918		5,416
Substandard	207		0		0		0		0		145		352		0		352


Total	47,739		39,020		18,552		10,469		10,634		17,196		143,610		62,692		206,302
Loans for agricultural production:
Pass	36,238		25,855		4,224		11,072		1,331		4,178		82,898		138,142		221,040
Special Mention	448		8,642		1,171		0		0		0		10,261		8,272		18,533



Total	36,686		34,497		5,395		11,072		1,331		4,178		93,159		146,414		239,573
Other commercial loans:
Pass	6,556		21,111		3,243		1,273		8,592		7,460		48,235		21,145		69,380
Special Mention	0		0		0		0		0		3,798		3,798		0		3,798



Total	6,556		21,111		3,243		1,273		8,592		11,258		52,033		21,145		73,178
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans
Pass	14,635		16,173		5,312		5,903		3,049		3,221		48,293		5,005		53,298

Substandard	0		0		0		0		0		1,274		1,274		0		1,274

Not Rated	45,089		27,738		9,248		5,217		7,628		26,321		121,241		482		121,723
Total	59,724		43,911		14,560		11,120		10,677		30,816		170,808		5,487		176,295
Open end and junior lien loans
Pass	679		379		159		313		0		0		1,530		5,074		6,604

Substandard	0		0		0		0		0		0		0		98		98

Not Rated	21,945		5,624		5,987		3,899		1,653		1,526		40,634		110,523		151,157
Total	22,624		6,003		6,146		4,212		1,653		1,526		42,164		115,695		157,859
Residential construction loans




Not Rated	7,926		1,537		960		138		171		1,125		11,857		0		11,857
Total	7,926		1,537		960		138		171		1,125		11,857		0		11,857
Other consumer loans
Pass	3,401		957		1,523		0		1,155		0		7,036		12,998		20,034

Substandard	36		23		230		0		0		0		289		0		289

Not Rated	21,652		14,931		7,474		5,844		1,890		1,203		52,994		9,227		62,221
Total	25,089		15,911		9,227		5,844		3,045		1,203		60,319		22,225		82,544

TOTAL	$	839,292	$	719,840	$	414,127	$	207,202	$	217,546	$	266,255	$	2,664,262	$	1,623,579	$	4,287,841

As of December 31, 2020, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:


(dollars in thousands)	Pass		Special Mention		Substandard		Doubtful		Not Rated		Total
Commercial and industrial loans:
Working capital lines of credit loans	$	535,071	$	81,095	$	9,718	$	0	$	215	$	626,099
Non-working capital loans	1,111,989		26,523		14,820		0		5,495		1,158,827
Commercial real estate and multi-family residential loans:
Construction and land development loans	361,664		0		0		0		0		361,664
Owner occupied loans	608,845		31,355		7,374		0		0		647,574
Nonowner occupied loans	547,790		31,260		0		0		0		579,050
Multi-family loans	282,031		22,253		0		0		0		304,284
Agri-business and agricultural loans:
Loans secured by farmland	183,983		10,728		652		0		0		195,363
Loans for agricultural production	185,875		48,424		0		0		0		234,299
Other commercial loans	93,912		0		0		0		0		93,912
Consumer 1‑4 family mortgage loans:
Closed end first mortgage loans	40,682		0		1,695		0		125,124		167,501
Open end and junior lien loans	8,424		0		5		0		156,807		165,236
Residential construction loans	0		0		0		0		11,962		11,962
Other consumer loans	36,979		253		0		0		66,153		103,385
Total	$	3,997,245	$	251,891	$	34,264	$	0	$	365,756	$	4,649,156

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, 2021 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
Commercial and industrial loans:
Working capital lines of credit loans	$	652,903	$	24	$	0	$	646,961	$	5,966	$	5,200	$	652,927
Non-working capital loans	735,658		1		0		731,063		4,596		229		735,659
Commercial real estate and multi-family residential loans:
Construction and land development loans	378,030		0		0		378,030		0		0		378,030
Owner occupied loans	738,791		0		0		735,157		3,634		2,129		738,791
Nonowner occupied loans	588,039		0		0		588,039		0		0		588,039
Multi-family loans	246,787		0		0		246,787		0		0		246,787
Agri-business and agricultural loans:
Loans secured by farmland	206,302		0		0		205,967		335		0		206,302
Loans for agricultural production	239,573		0		0		239,573		0		0		239,573
Other commercial loans	73,178		0		0		73,178		0		0		73,178
Consumer 1‑4 family mortgage loans:
Closed end first mortgage loans	175,678		500		117		176,240		55		55		176,295
Open end and junior lien loans	157,729		130		0		157,761		98		98		157,859
Residential construction loans	11,857		0		0		11,857		0		0		11,857
Other consumer loans	82,472		72		0		82,255		289		0		82,544
Total	$	4,286,997	$	727	$	117	$	4,272,868	$	14,973	$	7,711	$	4,287,841

The following table presents the aging of the recorded investment in past due loans as of December 31, 2020 by class of loans:


(dollars in thousands)	Loans Not Past Due		30-89 Days Past Due		Greater than 90 Days Past Due and Still Accruing		Nonaccrual		Total Past Due and Nonaccrual		Total
Commercial and industrial loans:
Working capital lines of credit loans	$	625,493	$	0	$	0	$	606	$	606	$	626,099
Non-working capital loans	1,153,540		0		0		5,287		5,287		1,158,827
Commercial real estate and multi-family residential loans:
Construction and land development loans	361,664		0		0		0		0		361,664
Owner occupied loans	642,527		0		0		5,047		5,047		647,574
Nonowner occupied loans	579,050		0		0		0		0		579,050
Multi-family loans	304,284		0		0		0		0		304,284
Agri-business and agricultural loans:
Loans secured by farmland	194,935		0		0		428		428		195,363
Loans for agricultural production	234,191		108		0		0		108		234,299
Other commercial loans	93,912		0		0		0		0		93,912
Consumer 1‑4 family mortgage loans:
Closed end first mortgage loans	165,895		877		116		613		1,606		167,501
Open end and junior lien loans	165,094		137		0		5		142		165,236
Residential construction loans	11,962		0		0		0		0		11,962
Other consumer loans	103,240		145		0		0		145		103,385
Total	$	4,635,787	$	1,267	$	116	$	11,986	$	13,369	$	4,649,156

Amortized Cost Basis of Collateral Dependent Loans

The following table presents the amortized cost basis of collateral dependent loans by class of loan as of December 31, 2021:


(dollars in thousands)	Real Estate		General Business Assets		Other		Total
Commercial and industrial loans:
Working capital lines of credit loans	$	0	$	5,966	$	0	$	5,966
Non-working capital loans	1,606		9,475		229		11,310
Commercial real estate and multi-family residential loans:
Owner occupied loans	1,435		1,505		1,161		4,101
Nonowner occupied loans	0		0		0		0
Agri-business and agricultural loans:
Loans secured by farmland	190		145		0		335
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans	3,081		0		0		3,081
Open end and junior lien loans	98		0		0		98
Other consumer loans	59		0		0		59
Total	$	6,469	$	17,091	$	1,390	$	24,950

Troubled Debt Restructuring


(dollars in thousands)	December 31, 2021		December 31, 2020
Accruing troubled debt restructured loans	$	5,121	$	5,237
Nonaccrual troubled debt restructured loans	6,218		6,476
Total troubled debt restructured loans	$	11,339	$	11,713

Loans by Class Modified as Troubled Debt Restructurings

The following table presents loans by class modified as new troubled debt restructurings that occurred during the year ending December 31, 2021:


						Modified Repayment Terms
(dollars in thousands)	Number of Loans	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Loans	Extension Period or Range (in months)
Troubled Debt Restructurings
Consumer 1-4 family loans:
Closed end first mortgage loans	2	$	217	$	217	2	172-204
Total	2	$	217	$	217	2	172-204

The following table presents loans by class modified as new troubled debt restructurings that occurred during the year ending December 31, 2020:


						Modified Repayment Terms
(dollars in thousands)	Number of Loans	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Loans	Extension Period or Range (in months)
Troubled Debt Restructurings
Commercial and industrial loans:
Working capital lines of credit loans	1	$	250	$	315	1	0
Non-working capital lines of credit loans	2	4,288		3,691		2	0
Commercial real estate and multi-family residential loans:
Owner occupied loans	1	1,528		1,527		1	0
Total	4	$	6,066	$	5,533	4	0

The following table presents loans by class modified as new troubled debt restructurings that occurred during the year ending December 31, 2019:


						Modified Repayment Terms
(dollars in thousands)	Number of Loans	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Loans	Extension Period or Range (in months)
Troubled Debt Restructurings
Commercial and industrial loans:
Working capital lines of credit loans	1	$	35	$	35	1	1
Total	1	$	35	$	35	1	1

The following table presents loans modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the period ending December 31, 2021, 2020 and 2019.


	2021			2020			2019
(dollars in thousands)	Number of Loans	Recorded Investment		Number of Loans	Recorded Investment		Number of Loans	Recorded Investment
Troubled Debt Restructurings that Subsequently Defaulted Commercial and industrial loans:
Non-working capital loans	0	$	0	0	$	0	1	$	601
Total	0	$	0	0	$	0	1	$	601

Loans individually evaluated for impairment

The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2020:


(dollars in thousands)	Unpaid Principal Balance		Recorded Investment		Allowance for Loan Losses Allocated
With no related allowance recorded:
Commercial and industrial loans:
Working capital lines of credit loans	$	346	$	173	$	0
Non-working capital loans	2,399		968		0
Commercial real estate and multi-family residential loans:
Owner occupied loans	3,002		2,930		0
Agri-business and agricultural loans:
Loans secured by farmland	603		283		0

Consumer 1‑4 family loans:
Closed end first mortgage loans	316		236		0
Open end and junior lien loans	5		5		0
With an allowance recorded:
Commercial and industrial loans:
Working capital lines of credit loans	433		433		255
Non-working capital loans	11,644		10,959		6,055
Commercial real estate and multi-family residential loans:
Owner occupied loans	2,589		2,588		1,377
Agri-business and agricultural loans:
Loans secured by farmland	145		145		84
Consumer 1‑4 family mortgage loans:
Closed end first mortgage loans	1,457		1,459		270



Total	$	22,939	$	20,179	$	8,041

The following table presents loans individually evaluated for impairment by class of loans for the year ended December 31, 2020:


(dollars in thousands)	Average Recorded Investment		Interest Income Recognized		Cash Basis Interest Income Recognized
With no related allowance recorded:
Commercial and industrial loans:
Working capital lines of credit loans	$	375	$	0	$	0
Non-working capital loans	816		21		21
Commercial real estate and multi-family residential loans:
Owner occupied loans	2,156		13		12
Agri-business and agricultural loans:
Loans secured by farmland	283		0		0
Loans for agricultural production	4		0		0
Consumer 1-4 family loans:
Closed end first mortgage loans	291		3		2
Open end and junior lien loans	49		0		0
With an allowance recorded:
Commercial and industrial loans:
Working capital lines of credit loans	2,433		0		0
Non-working capital loans	11,579		287		287
Commercial real estate and multi-family residential loans:
Construction and land development loans
Owner occupied loans	3,156		30		30
Agri-business and agricultural loans:
Loans secured by farmland	147		0		0
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans	1,557		36		33
Open end and junior lien loans	481		0		0
Residential construction loans	35		0		0
Other consumer loans	0		0		0
Total	$	23,362	$	390	$	385

The following table presents loans individually evaluated for impairment by class of loans for the year ended December 31, 2019:


(dollars in thousands)	Average Recorded Investment		Interest Income Recognized		Cash Basis Interest Income Recognized
With no related allowance recorded:
Commercial and industrial loans:
Working capital lines of credit loans	$	176	$	9	$	9
Non-working capital loans	1,170		40		30
Commercial real estate and multi-family residential loans:

Owner occupied loans	2,354		34		34
Loans for ag production	4		0		0
Agri-business and agricultural loans:
Loans secured by farmland	283		0		0
Consumer 1‑4 family loans:
Closed end first mortgage loans	272		3		3
Open end and junior lien loans	133		0		0
With an allowance recorded:
Commercial and industrial loans:
Working capital lines of credit loans	6,335		143		81
Non-working capital loans	11,800		448		410
Commercial real estate and multi-family residential loans:
Construction and land development loans
Owner occupied loans	1,849		43		39
Agri-business and agricultural loans:
Loans secured by farmland	147		3		1
Consumer 1‑4 family mortgage loans:
Closed end first mortgage loans	1,643		45		43
Open end and junior lien loans	268		0		0
Residential constructions loans	9		0		0
Other consumer loans	21		2		1
Total	$	26,464	$	770	$	651

FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis

The table below presents the balances of assets and liabilities measured at fair value on a recurring basis:


	December 31, 2021
	Fair Value Measurements Using						Assets
(dollars in thousands)	Level 1		Level 2		Level 3		at Fair Value
Assets:
U.S. Treasury securities	$	900	$	0	$	0	$	900
U.S. government sponsored agency securities	0		143,452		0		143,452
Mortgage-backed securities: residential	0		486,676		0		486,676
Mortgage-backed securities: commercial	0		523		0		523
State and municipal securities	0		764,964		2,043		767,007
Total Securities	900		1,395,615		2,043		1,398,558
Mortgage banking derivative	0		398		0		398
Interest rate swap derivative	0		14,309		0		14,309
Total assets	$	900	$	1,410,322	$	2,043	$	1,413,265

Liabilities:
Mortgage banking derivative	$	0	$	2	$	0	$	2
Interest rate swap derivative	0		14,329		0		14,329
Total liabilities	$	0	$	14,331	$	0	$	14,331


	December 31, 2020
	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	$	36,487	$	0	$	36,487
Mortgage-backed securities: residential	0		279,503		0		279,503
Mortgage-backed securities: commercial	0		36,881		0		36,881
State and municipal securities	0		381,834		140		381,974
Total Securities	0		734,705		140		734,845
Mortgage banking derivative	0		1,182		0		1,182
Interest rate swap derivative	0		21,764		0		21,764
Total assets	$	0	$	757,651	$	140	$	757,791

Liabilities:
Mortgage banking derivative	$	0	$	111	$	0	$	111
Interest rate swap derivative	0		21,794		0		21,794
Total liabilities	$	0	$	21,905	$	0	$	21,905

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:


	December 31, 2021
	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	$	247	$	247
Non-working capital loans	0		0		5,095		5,095
Commercial real estate and multi-family residential loans:
Owner occupied loans	0		0		791		791
Agri-business and agricultural loans:
Loans secured by farmland	0		0		231		231




Total collateral dependent loans	$	0	$	0	$	6,364	$	6,364
Other real estate owned	0		0		196		196
Total assets	$	0	$	0	$	6,560	$	6,560


	December 31, 2020
	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	$	178	$	178
Non-working capital loans	0		0		4,904		4,904
Commercial real estate and multi-family residential loans:

Owner occupied loans	0		0		1,211		1,211
Agri-business and agricultural loans:
Loans secured by farmland	0		0		61		61
Consumer 1‑4 family mortgage loans:
Closed end first mortgage loans	0		0		411		411


Total collateral dependent loans	$	0	$	0	$	6,765	$	6,765
Other real estate owned	0		0		0		0
Total assets	$	0	$	0	$	6,765	$	6,765

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, 2021:

(dollars in thousands)

Fair Value

Valuation Methodology

Unobservable Inputs

Average

Range of Inputs

Collateral dependent loans:

Commercial and industrial

5,342

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

65%

22%-99%

Collateral dependent loans:

Commercial real estate and multi-family residential loans

791

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

51%

34%-68%

Collateral dependent loans:

Agri-business and agricultural

231

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

35%

3% - 68%

Other real estate owned

196

Appraisals

Discount to reflect current market conditions and ultimate collectability

38%

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, 2020:

(dollars in thousands)

Fair Value

Valuation Methodology

Unobservable Inputs

Average

Range of Inputs

Collateral dependent loans:

Commercial and industrial

5,082

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

55%

16%-100%

Collateral dependent loans:

Commercial real estate

1,211

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

53%

21%-74%

Collateral dependent loans:

Agri-business and agricultural

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

58%

Collateral dependent loans:

Consumer 1-4 family mortgage

411

Collateral based measurements

Discount to reflect current market conditions and ultimate collectability

11%

10%-15%

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

NOTE 5 – FAIR VALUE (continued)


	December 31, 2021
	Carrying		Estimated Fair Value
(dollars in thousands)	Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	683,240	$	681,286	$	1,954	$	0	$	683,240
Securities available-for-sale	1,398,558		900		1,395,615		2,043		1,398,558
Real estate mortgages held-for-sale	7,470		0		7,634		0		7,634
Loans, net	4,220,068		0		0		4,144,000		4,144,000
Mortgage banking derivative	398		0		398		0		398
Interest rate swap derivative	14,309		0		14,309		0		14,309
Federal Reserve and Federal Home Loan Bank Stock	13,772		N/A		N/A		N/A		N/A
Accrued interest receivable	17,674		0		7,689		9,985		17,674
Financial Liabilities:
Certificates of deposit	(829,518)		0		(833,617)		0		(833,617)
All other deposits	(4,905,889)		(4,905,889)		0		0		(4,905,889)

Federal Home Loan Bank advances	(75,000)		0		(66,118)		0		(66,118)
Mortgage banking derivative	(2)		0		(2)		0		(2)
Interest rate swap derivative	(14,329)		0		(14,329)		0		(14,329)
Standby letters of credit	(272)		0		0		(272)		(272)
Accrued interest payable	(2,619)		(84)		(2,535)		0		(2,619)

NOTE 5 – FAIR VALUE (continued)


	December 31, 2020
	Carrying		Estimated Fair Value
(dollars in thousands)	Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	249,927	$	247,228	$	2,699	$	0	$	249,927
Securities available-for-sale	734,845		0		734,705		140		734,845
Real estate mortgages held-for-sale	11,218		0		11,651		0		11,651
Loans, net	4,587,748		0		0		4,532,639		4,532,639
Mortgage banking derivative	1,182		0		1,182		0		1,182
Interest rate swap derivative	21,764		0		21,764		0		21,764
Federal Reserve and Federal Home Loan Bank Stock	13,772		N/A		N/A		N/A		N/A
Accrued interest receivable	18,761		0		3,801		14,960		18,761
Financial Liabilities:
Certificates of deposit	(1,024,819)		0		(1,033,095)		0		(1,033,095)
All other deposits	(4,011,986)		(4,011,986)		0		0		(4,011,986)
Miscellaneous borrowings	(10,500)		0		(10,500)		0		(10,500)
Federal Home Loan Bank advances	(75,000)		0		(68,967)		0		(68,967)
Mortgage banking derivative	(111)		0		(111)		0		(111)
Interest rate swap derivative	(21,794)		0		(21,794)		0		(21,794)
Standby letters of credit	(686)		0		0		(686)		(686)
Accrued interest payable	(5,959)		(66)		(5,893)		0		(5,959)

LAND, PREMISES AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021 and 2020:


(dollars in thousands)	2021		2020
Land	$	12,472	$	12,472
Premises and improvements	58,716		55,682
Equipment and furniture	39,278		38,133
Total cost	110,466		106,287
Less accumulated depreciation	51,157		46,989
Land, premises and equipment, net	$	59,309	$	59,298

DEPOSITS (Tables)

12 Months Ended

Dec. 31, 2021

Deposits [Abstract]

Summary of Certain Deposits

The following table details total deposits as of December 31, 2021 and 2020:


(dollars in thousands)	2021		2020
Non-interest bearing demand deposits	$	1,895,481	$	1,538,331
Savings and transaction accounts:
Savings deposits	409,343		312,702
Interest bearing demand deposits	2,601,065		2,160,953
Time deposits:
Other time deposits	202,395		239,582
Deposits of $100,000 to $250,000	227,606		271,337
Deposits of $250,000 or more	399,517		513,900
Total deposits	$	5,735,407	$	5,036,805

Deposit Maturities

At December 31, 2021, the scheduled maturities of time deposits were as follows:


(dollars in thousands)	Amount
Maturing in 2022	$	591,740
Maturing in 2023	174,035
Maturing in 2024	37,600
Maturing in 2025	13,704
Maturing in 2026	12,091
Thereafter	348
Total time deposits	$	829,518

BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Short-Term Debt

For the years ending December 31, there was one outstanding advance from the FHLB as follows:


(dollars in thousands)	2021		2020

Federal Home Loan Bank of Indianapolis Putable Advance, 0.39%, Due March 4, 2030	$	75,000	$	75,000

PENSION AND OTHER POSTRETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021 and 2020 is as follows:


	Pension Benefits				SERP Benefits
(dollars in thousands)	2021		2020		2021		2020
Change in benefit obligation:
Beginning benefit obligation	$	2,710	$	2,715	$	968	$	991
Interest cost	52		75		18		27
Actuarial (gain) loss	(153)		276		13		84
Benefits paid	(311)		(356)		(132)		(134)
Ending benefit obligation	2,298		2,710		867		968

Change in plan assets (primarily equity and fixed income investments and money market funds), at fair value:
Beginning plan assets	2,349		2,472		879		914
Actual return	265		233		101		99
Employer contribution	0		0		0		0
Benefits paid	(311)		(356)		(132)		(134)
Ending plan assets	2,303		2,349		848		879
Funded status at end of year	$	5	$	(361)	$	(19)	$	(89)

Schedule of Amounts Recognized in Balance Sheet

Amounts recognized in the consolidated balance sheets consist of:


	Pension Benefits				SERP Benefits
(dollars in thousands)	2021		2020		2021		2020
Funded status included in other liabilities	$	5	$	(361)	$	(19)	$	(89)

Amounts Recognized in Accumulated Other Comprehensive Income

Amounts recognized in accumulated other comprehensive income consist of:


	Pension Benefits				SERP Benefits
(dollars in thousands)	2021		2020		2021		2020
Net actuarial loss	$	852	$	1,362	$	431	$	553

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)	2021		2020		2019		2021		2020		2019
Net pension expense:
Service cost	$	0	$	0	$	0	$	0	$	0	$	0
Interest cost	52		75		87		18		27		37
Expected return on plan assets	(133)		(140)		(137)		(47)		(51)		(55)
Recognized net actuarial (gain) loss	160		171		132		82		80		73
Settlement cost	65		115		0		0		0		0
Net pension expense	$	144	$	221	$	82	$	53	$	56	$	55

Net (gain) loss	$	(350)	$	69	$	353	$	(40)	$	36	$	56
Amortization of net loss	(160)		(171)		(132)		(82)		(80)		(73)
Total recognized in other comprehensive income (loss)	(510)		(102)		221		(122)		(44)		(17)
Total recognized in net pension expense and other comprehensive income (loss)	$	(366)	$	119	$	303	$	(69)	$	12	$	38

Schedule of Assumptions Used in Calculating the Net Benefit Obligation


	Pension Benefits						SERP Benefits
	2021		2020		2019		2021		2020		2019
The following assumptions were used in calculating the net benefit obligation:

Weighted average discount rate	2.49	%	2.08	%	2.98	%	2.49	%	2.08	%	2.98	%
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	0.87	%	0.53	%	2.01	%	N/A		N/A		N/A
Next 15 years	2.74	%	2.31	%	3.06	%	N/A		N/A		N/A
All future years	3.16	%	3.09	%	3.65	%	N/A		N/A		N/A

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

Weighted average discount rate	2.08	%	2.98	%	4.08	%	2.08	%	2.98	%	4.08	%
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 2021 and 2020, target allocation for 2021, and expected long-term rate of return by asset category are as follows:

NOTE 11 – PENSION AND OTHER POSTRETIREMENT PLANS (continued)


	Target Allocation				Percentage of Plan Assets at Year End				Weighted Average Expected Long-Term Rate of Return
Asset Category	2022				2021		2020
Equity securities	55	-	65	%	61	%	65	%	8.85	%
Debt securities	35	-	45	%	37	%	31	%	3.00	%
Other	5	-	10	%	2	%	4	%	0.10	%
Total					100	%	100	%	6.50	%

The Company’s SERP plan asset allocation at year end 2021 and 2020, target allocation for 2021, 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	2022				2021		2020
Equity securities	55	-	65	%	59	%	64	%	8.85	%
Debt securities	35	-	45	%	36	%	34	%	3.00	%
Other	5	-	10	%	5	%	2	%	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, 2021, 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	$	923	$	923	$	0	$	0
Equity securities - US mid cap stock mutual funds	104		104		0		0
Equity securities - US small cap stock mutual funds	106		106		0		0
Equity securities - international stock mutual funds	193		193		0		0
Equity securities - emerging markets stock mutual funds	73		73		0		0
Debt securities - intermediate term bond mutual funds	273		273		0		0
Debt securities - short term bond mutual funds	572		572		0		0
Cash - money market account	59		59		0		0
Total	$	2,303	$	2,303	$	0	$	0

The fair values of the Company’s pension plan assets at December 31, 2020, 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	$	962	$	962	$	0	$	0
Equity securities - US mid cap stock mutual funds	124		124		0		0
Equity securities - US small cap stock mutual funds	129		129		0		0
Equity securities - international stock mutual funds	202		202		0		0
Equity securities - emerging markets stock mutual funds	105		105		0		0
Debt securities - intermediate term bond mutual funds	526		526		0		0
Debt securities - short term bond mutual funds	205		205		0		0
Cash - money market account	93		93		0		0
Total	$	2,346	$	2,346	$	0	$	0

The fair values of the Company’s SERP assets at December 31, 2021, 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	$	327	$	327	$	0	$	0
Equity securities - US mid cap stock mutual funds	38		38		0		0
Equity securities - US small cap stock mutual funds	38		38		0		0
Equity securities - emerging markets stock mutual funds	27		27		0		0
Equity securities - international stock mutual funds	71		71		0		0
Debt securities - intermediate term bond mutual funds	85		85		0		0
Debt securities - short term bond mutual funds	222		222		0		0
Cash - money market account	40		40		0		0
Total	$	848	$	848	$	0	$	0

The fair values of the Company’s SERP assets at December 31, 2020, 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	$	360	$	360	$	0	$	0
Equity securities - US mid cap stock mutual funds	23		23		0		0
Equity securities - US small cap stock mutual funds	72		72		0		0
Equity securities - emerging markets stock mutual funds	37		37		0		0
Equity securities - international stock mutual funds	72		72		0		0
Debt securities - intermediate term bond mutual funds	216		216		0		0
Debt securities - short term bond mutual funds	82		82		0		0
Cash - money market account	16		16		0		0
Total	$	878	$	878	$	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)
2022	$	193	$	130
2023	209		123
2024	182		115
2025	190		105
2026	191		94
2027-2031	703		294

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

Income tax expense for the years ended December 31, 2021, 2020 and 2019 consisted of the following:


(dollars in thousands)	2021		2020		2019
Current federal	$	21,329	$	20,032	$	19,430
Deferred federal	(1,249)		(1,688)		(408)

Current state	1,892		1,484		1,394
Deferred state	(261)		(289)		(78)
Total income tax expense	$	21,711	$	19,539	$	20,338

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)	2021		2020		2019
Income taxes at statutory federal rate of 21%	$	24,663	$	21,814	$	22,551
Increase (decrease) in taxes resulting from:
Tax exempt income	(2,822)		(1,925)		(1,682)
Nondeductible expense	116		117		194
State income tax, net of federal tax effect	1,288		944		1,040
Captive insurance premium income	(303)		(227)		(310)
Tax credits	(578)		(540)		(548)
Bank owned life insurance	(596)		(595)		(573)
Long-term incentive plan	(274)		(58)		(421)
Nondeductible compensation expense	156		0		0
Other	61		9		87
Total income tax expense	$	21,711	$	19,539	$	20,338

Schedule of Deferred Tax Assets and Liabilities

The net deferred tax asset recorded in the consolidated balance sheets at December 31, 2021 and 2020 consisted of the following:


(dollars in thousands)	2021		2020
Deferred tax assets:
Bad debts	$	17,321	$	15,634
Pension and deferred compensation liability	2,351		2,006
Nonaccrual loan interest	600		892
Long-term incentive plan	1,896		1,212
Lease liability	1,078		1,190
Deferred loan fees	771		—
Other	191		745
	24,208		21,679
Deferred tax liabilities:
Depreciation	4,279		4,718
Loan servicing rights	717		1,162
State taxes	679		524
Intangible assets	1,270		1,265
REIT spillover dividend	1,180		1,180
Prepaid expenses	952		948
Lease right of use	1,078		1,190
Other	194		442
	10,349		11,429
Valuation allowance	0		0
Net deferred tax asset	$	13,859	$	10,250

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of related party transactions

Loans to principal officers, directors, and their affiliates as of December 31, 2021 and 2020 were as follows:


(dollars in thousands)	2021		2020
Beginning balance	$	104,694	$	83,980
New loans and advances	74,115		120,049
Effect of changes in related parties	(62)		1,650
Repayments and renewals	(78,882)		(100,985)
Ending balance	$	99,865	$	104,694

STOCK BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021	5,000	$	45.22
Granted	14,950	59.26
Vested	(18,450)	56.69
Nonvested at December 31, 2021	1,500	$	44.10

Schedule of Nonvested Performance-based Units

Shares granted below include the number of shares assumed granted based on actual performance criteria of the 2021-2023, 2020-2022 and 2019-2021 Long-Term Incentive Plans at December 31, 2021.


Nonvested Shares	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2021	157,515	$	44.85
Granted, net	212,475	51.59
Vested	(83,216)	45.64
Forfeited	(15,004)	45.72
Nonvested at December 31, 2021	271,770	$	49.83

CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021
Total Capital (to Risk Weighted Assets)
Consolidated	$	744,421	15.35%	$	388,020	8.00%	$	509,276	N/A	N/A		N/A
Bank	$	726,091	15.01%	$	387,118	8.00%	$	508,093	10.50%	$	483,898	10.00%
Tier I Capital (to Risk Weighted Assets)
Consolidated	$	683,754	14.10%	$	291,015	6.00%	$	412,271	N/A	N/A		N/A
Bank	$	665,424	13.75%	$	290,339	6.00%	$	411,313	8.50%	$	387,118	8.00%
Common Equity Tier 1 (CET1)
Consolidated	$	683,754	14.10%	$	218,261	4.50%	$	339,518	N/A	N/A		N/A
Bank	$	665,424	13.75%	$	217,754	4.50%	$	338,729	7.00%	$	314,534	6.50%
Tier I Capital (to Average Assets)
Consolidated	$	683,754	10.73%	$	254,898	4.00%	$	254,898	N/A	N/A		N/A
Bank	$	665,424	10.46%	$	254,425	4.00%	$	254,425	4.00%	$	318,030	5.00%

As of December 31, 2020
Total Capital (to Risk Weighted Assets)
Consolidated	$	682,778	14.65%	$	372,921	8.00%	$	489,459	N/A	N/A		N/A
Bank	$	678,034	14.56%	$	372,560	8.00%	$	488,985	10.50%	$	465,700	10.00%
Tier I Capital (to Risk Weighted Assets)
Consolidated	$	624,381	13.39%	$	279,691	6.00%	$	396,229	N/A	N/A		N/A
Bank	$	619,693	13.31%	$	279,420	6.00%	$	395,845	8.50%	$	372,560	8.00%
Common Equity Tier 1 (CET1)
Consolidated	$	624,381	13.39%	$	209,768	4.50%	$	326,306	N/A	N/A		N/A
Bank	$	619,693	13.31%	$	209,565	4.50%	$	325,990	7.00%	$	302,705	6.50%
Tier I Capital (to Average Assets)
Consolidated	$	624,381	10.93%	$	228,406	4.00%	$	228,406	N/A	N/A		N/A
Bank	$	619,693	10.88%	$	227,900	4.00%	$	227,900	4.00%	$	284,875	5.00%

OFFSETTING ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2021

OFFSETTING ASSETS AND LIABILITIES

Schedule of Offsetting Assets And Liability


	December 31, 2021
	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	$	14,309	$	0	$	14,309	$	0	$	(2,255)	$	12,054
Total Assets	$	14,309	$	0	$	14,309	$	0	$	(2,255)	$	12,054
Liabilities
Interest Rate Swap Derivatives	$	14,329	$	0	$	14,329	$	0	$	(7,995)	$	6,334
Total Liabilities	$	14,329	$	0	$	14,329	$	0	$	(7,995)	$	6,334


	December 31, 2020
	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	$	21,764	$	0	$	21,764	$	0	$	0	$	21,764
Total Assets	$	21,764	$	0	$	21,764	$	0	$	0	$	21,764
Liabilities
Interest Rate Swap Derivatives	$	21,794	$	0	$	21,794	$	0	$	(21,370)	$	424
Total Liabilities	$	21,794	$	0	$	21,794	$	0	$	(21,370)	$	424

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

12 Months Ended

Dec. 31, 2021

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, 2021 and 2020, were as follows:


	2021				2020
(dollars in thousands)	Fixed Rate		Variable Rate		Fixed Rate		Variable Rate
Commercial loan lines of credit	$	79,792	$	1,850,719	$	52,568	$	1,646,539
Standby letters of credit	0		55,336		0		53,796
Real estate mortgage loans	7,906		14,216		11,984		3,921
Real estate construction mortgage loans	2,402		3,213		767		3,051
Home equity mortgage open-ended revolving lines	0		306,124		0		267,530
Consumer loan open-ended revolving lines	0		23,287		0		19,918
Total	$	90,100	$	2,252,895	$	65,319	$	1,994,755

Schedule Of Rate Of Interest Percentage Financial Instruments


	2021		2020
	Fixed Rate	Variable Rate	Fixed Rate	Variable Rate
Commercial loan	1.99-14.50%	1.11-10.00%	1.00-14.50%	1.16-9.25%
Real estate mortgage loan	2.50-3.75%	3.00-8.25%	2.63-3.75%	3.00-5.75%
Consumer loan open-ended revolving line	15.00%	3.25-15.00%	15.00%	3.00-15.00%

PARENT COMPANY STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheet

CONDENSED BALANCE SHEETS


	December 31,
(dollars in thousands)	2021		2020
ASSETS
Deposits with Lake City Bank	$	834	$	568
Deposits with other depository institutions	2,459		2,433
Cash	3,293		3,001
Investments in banking subsidiary	686,487		652,407
Investments in other subsidiaries	3,468		3,043
Other assets	11,830		9,455
Total assets	$	705,078	$	667,906
LIABILITIES
Dividends payable and other liabilities	$	261	$	311
Borrowings	0		10,500
STOCKHOLDERS’ EQUITY	704,817		657,095
Total liabilities and stockholders’ equity	$	705,078	$	667,906

Schedule of Condensed of income and comprehensive income statement

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME


	Years Ended December 31,
(dollars in thousands)	2021		2020		2019
Dividends from Lake City Bank	$	47,355	$	32,079	$	57,842
Dividends from non-bank subsidiaries	1,035		1,300		1,302
Other income	3		0		155
Interest expense	(7)		0		(1,720)
Miscellaneous expense	(8,133)		(3,935)		(5,321)
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES	40,253		29,444		52,258
Income tax benefit	2,360		1,065		2,256
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES	42,613		30,509		54,514
Equity in undistributed income of subsidiaries	53,120		53,828		32,533
NET INCOME	$	95,733	$	84,337	$	87,047
COMPREHENSIVE INCOME	$	84,082	$	100,022	$	105,297

Schedule of Condensed cash flow statement

CONDENSED STATEMENTS OF CASH FLOWS


	Years Ended December 31,
(dollars in thousands)	2021		2020		2019
Cash flows from operating activities:
Net income	$	95,733	$	84,337	$	87,047
Adjustments to net cash from operating activities:
Equity in undistributed income of subsidiaries	(53,120)		(53,828)		(32,533)
Other changes	5,177		1,257		3,529
Net cash from operating activities	47,790		31,766		58,043
Cash flows from financing activities
Repayment of long-term debt	0		0		(30,928)
Proceeds from (payments on) short-term borrowings	(10,500)		10,500		0
Payments related to equity incentive plans	(1,914)		(2,137)		(2,109)
Purchase of treasury stock	(559)		(10,547)		(515)
Sales of treasury stock	115		119		118
Dividends paid	(34,640)		(30,566)		(29,639)
Cash flows from financing activities	(47,498)		(32,631)		(63,073)
Net increase (decrease) in cash and cash equivalents	292		(865)		(5,030)
Cash and cash equivalents at beginning of the year	3,001		3,866		8,896
Cash and cash equivalents at end of the year	$	3,293	$	3,001	$	3,866

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2021

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)	2021		2020		2019
Basic earnings per common share:
Net income	$	95,733	$	84,337	$	87,047
Weighted-average common shares outstanding	25,475,994		25,469,242		25,588,404
Basic earnings per common share	$	3.76	$	3.31	$	3.40
Diluted earnings per common share:
Net income	$	95,733	$	84,337	$	87,047
Weighted-average common shares outstanding for basic earnings per common share	25,475,994		25,469,242		25,588,404
Add: Dilutive effect of assumed exercises of stock options and awards	144,111		104,699		170,489
Average shares and dilutive potential common shares	25,620,105		25,573,941		25,758,893
Diluted earnings per common share	$	3.74	$	3.30	$	3.38

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Dec. 31, 2021

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

Schedule of Changes in Accumulated Other Comprehensive Income

The following tables summarize the changes within each classification of accumulated other comprehensive income (loss) for December 31, 2021 and 2020, 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, 2021	$	29,182	$	(1,438)	$	27,744
Other comprehensive income (loss) before reclassification	(11,496)		293		(11,203)
Amounts reclassified from accumulated other comprehensive income (loss)	(630)		182		(448)
Net current period other comprehensive income (loss)	(12,126)		475		(11,651)
Balance at December 31, 2021	$	17,056	$	(963)	$	16,093


(dollars in thousands)	Unrealized Gains and (Losses) on Available-for-Sales Securities		Defined Benefit Pension Items		Total
Balance at January 1, 2020	$	13,607	$	(1,548)	$	12,059
Other comprehensive income (loss) before reclassification	15,917		(78)		15,839
Amounts reclassified from accumulated other comprehensive income (loss)	(342)		188		(154)
Net current period other comprehensive income (loss)	15,575		110		15,685
Balance at December 31, 2020	$	29,182	$	(1,438)	$	27,744

Schedule of Reclassification Out of Accumulated Other comprehensive income

Reclassifications out of accumulated comprehensive income for the years ended December 31, 2021, 2020 and 2019 are as follows:


Details about Accumulated Other Comprehensive Income Components	Amount Reclassified From Accumulated Other Comprehensive Income		Affected Line Item in the Statement Where Net Income is Presented
2021
(dollars in thousands)
Realized gains and (losses) on available-for-sale securities	$	797	Net securities gains
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


2020
(dollars in thousands)
Realized gains and (losses) on available-for-sale securities	$	433	Net securities gains
Tax effect	(91)		Income tax expense
Subtotal	342		Net of tax
Amortization of defined benefit pension items(1)	(251)		Salaries and employee benefits
Tax effect	63		Income tax expense
Subtotal	(188)		Net of tax
Total reclassifications for the period	$	154	Net income


2019
(dollars in thousands)
Realized gains and (losses) on available-for-sale securities	$	142	Net securities gains
Tax effect	(30)		Income tax expense
Subtotal	112		Net of tax
Amortization of defined benefit pension items(1)	(205)		Salaries and employee benefits
Tax effect	52		Income tax expense
Subtotal	(153)		Net of tax
Total reclassifications for the period	$	(41)	Net income

(1)Included in the computation of net pension plan expense as more fully discussed in Note 11 – Pension and Other Postretirement Plans.

SELECTED QUARTERLY DATA (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2021

Selected Quarterly Financial Information [Abstract]

Schedule of Quarterly Financial Information


2021	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Interest income	$	48,322	$	49,295	$	47,625	$	47,977
Interest expense	3,315		3,554		3,964		4,298
Net interest income	45,007		45,741		43,661		43,679
Provision for credit losses	0		1,300		(1,700)		1,477
Net interest income after provision	45,007		44,441		45,361		42,202
Noninterest income	9,709		11,114		11,340		12,557
Noninterest expense	24,926		25,967		26,648		26,746
Income tax expense	5,507		5,469		5,705		5,030
Net income	$	24,283	$	24,119	$	24,348	$	22,983

Basic earnings per common share	$	0.95	$	0.95	$	0.96	$	0.90
Diluted earnings per common share	$	0.95	$	0.94	$	0.95	$	0.90


2020	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Interest income	$	49,854	$	45,979	$	46,831	$	50,439
Interest expense	5,141		6,066		7,303		11,585
Net interest income	44,713		39,913		39,528		38,854
Provision for credit losses	920		1,750		5,500		6,600
Net interest income after provision	43,793		38,163		34,028		32,254
Noninterest income	11,782		13,115		11,169		10,777
Noninterest expense	24,912		23,125		21,079		22,089
Income tax expense	6,071		5,377		4,448		3,643
Net income	$	24,592	$	22,776	$	19,670	$	17,299

Basic earnings per common share	$	0.97	$	0.89	$	0.77	$	0.68
Diluted earnings per common share	$	0.97	$	0.89	$	0.77	$	0.67

LEASES (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021:


Years ending December 31, (in thousands)	Operating Lease Obligation
2022	$	595
2023	606
2024	622
2025	640
2026	617
2027 and thereafter	1,616
Total undiscounted lease payments	4,696
Less imputed interest	(478)
Lease liability	$	4,218
Right-of-use asset	$	4,218

Schedule of Lease Cost


	Year Ended		Year Ended		Year Ended
	December 31, 2021		December 31, 2020		December 31, 2019
Lease cost
Operating lease cost	$	536	$	536	$	498
Short-term lease cost	24		24		24
Total lease cost	$	560	$	560	$	522


Other information
Operating cash outflows from operating leases	$	536		$	536		$	498
Weighted-average remaining lease term - operating leases	7.9			8.8			9.8
Weighted average discount rate - operating leases	2.8		%	2.8		%	2.8		%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Dec. 31, 2021 USD ($) partnership segment shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($)	Jan. 01, 2021 USD ($)	Dec. 31, 2018 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Financing Receivable, Accrued Interest, after Allowance for Credit Loss	$ 10,000,000.0	$ 14,600,000
Threshold for loans individually analyzed for impairment	250,000
Investment in limited partnerships	$ 9,400,000	9,200,000
Number of additional partnerships required to fund \| partnership	4
Commitment to fund limited partnerships	$ 2,200,000	2,600,000
Balance of real estate owned	196,000	316,000
Loan servicing fees	1,200,000	1,200,000	$ 1,100,000
Mortgage servicing rights	2,400,000	3,500,000
Unpaid principal balances	375,400,000	351,000,000.0
Escrow deposit	1,700,000
Bank owned life insurance	$ 97,652,000	$ 95,227,000
Treasury stock (in shares) \| shares	476,816	473,660
Weighted average price (in USD per share) \| $ / shares		$ 34.63
Number of reportable operating segments \| segment	1
Shares purchased under director deferred compensation plan included in treasury stock (in shares) \| shares	187,715	184,559
Repurchased common shares (in shares) \| shares		289,101
Total ending allowance balance	$ 67,773,000	$ 61,408,000	$ 50,652,000		$ 48,453,000
Retained Earnings (Accumulated Deficit)	(583,134,000)	(529,005,000)
Impact of ASC 326 Adoption
Summary Of Significant Accounting Policies [Line Items]
Total ending allowance balance		9,050,000		$ 9,050,000
Impact of ASC 326 Adoption \| ASU 2016-13
Summary Of Significant Accounting Policies [Line Items]
Total ending allowance balance				9,100,000
Retained Earnings (Accumulated Deficit)				7,000,000
Deferred Income Tax Assets, Net				$ 2,100,000
Interest Rate Swap
Summary Of Significant Accounting Policies [Line Items]
Notional amount	796,000,000.0	819,100,000
Fair value of interest rate swap asset	14,300,000	21,800,000
Fair value of interest rate swap liability	14,300,000	21,800,000
Amount of risk participation transactions	4,600,000	5,000,000
Life Insurance \| Officer
Summary Of Significant Accounting Policies [Line Items]
Bank owned life insurance	91,100,000	90,400,000
Deferred Compensation \| Officer
Summary Of Significant Accounting Policies [Line Items]
Bank owned life insurance	$ 6,600,000	$ 4,800,000
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

SECURITIES - Summary of Available For Sale Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of Available-for-sale Securities
Amortized Cost	$ 1,376,969	$ 697,906
Gross Unrealized Gain	30,244	37,045
Gross Unrealized Losses	(8,655)	(106)
Fair Value	1,398,558	734,845
U.S. Treasury securities
Schedule of Available-for-sale Securities
Amortized Cost	900
Gross Unrealized Gain	0
Gross Unrealized Losses	0
Fair Value	900
U.S. government sponsored agencies
Schedule of Available-for-sale Securities
Amortized Cost	145,858	36,492
Gross Unrealized Gain	39	56
Gross Unrealized Losses	(2,445)	(61)
Fair Value	143,452	36,487
Mortgage-backed securities: residential
Schedule of Available-for-sale Securities
Amortized Cost	487,157	270,231
Gross Unrealized Gain	4,455	9,289
Gross Unrealized Losses	(4,936)	(17)
Fair Value	486,676	279,503
Mortgage-backed securities: commercial
Schedule of Available-for-sale Securities
Amortized Cost	522	35,877
Gross Unrealized Gain	1	1,004
Gross Unrealized Losses	0	0
Fair Value	523	36,881
State and municipal securities
Schedule of Available-for-sale Securities
Amortized Cost	742,532	355,306
Gross Unrealized Gain	25,749	26,696
Gross Unrealized Losses	(1,274)	(28)
Fair Value	$ 767,007	$ 381,974

SECURITIES - Schedule of Available For Sale Securities By Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Amortized Cost
Due in one year or less	$ 3,700
Due after one year through five years	9,534
Due after five years through ten years	52,232
Due after ten years	823,824
Total debt securities, gross	889,290
Mortgage-backed securities	487,679
Amortized Cost	1,376,969	$ 697,906
Fair Value
Due in one year or less	3,704
Due after one year through five years	9,823
Due after five years through ten years	54,892
Due after ten years	842,940
Total debt securities, gross	911,359
Mortgage-backed securities	487,199
Total debt securities	$ 1,398,558	$ 734,845

SECURITIES - Schedule of Sales of Securities Available For Sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Sales of securities available-for-sale
Proceeds	$ 13,964	$ 8,018	$ 57,114
Gross gains	797	433	279
Gross losses	$ 0	$ 0	$ (137)
Number of securities	9	17	46

SECURITIES - Schedule of Available For Sale of Securities Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of Available-for-sale Securities
Less than 12 months, Fair Value	$ 496,891	$ 26,724
Less than 12 Months, Unrealized Losses	6,714	89
12 months or more, Fair value	51,468	3,112
12 Months or more, Unrealized Losses	1,941	17
Total Fair Value	548,359	29,836
Total Unrealized Losses	8,655	106
U.S. government sponsored agencies
Schedule of Available-for-sale Securities
Less than 12 months, Fair Value	85,968	19,800
Less than 12 Months, Unrealized Losses	1,364	61
12 months or more, Fair value	28,676	0
12 Months or more, Unrealized Losses	1,081	0
Total Fair Value	114,644	19,800
Total Unrealized Losses	2,445	61
Mortgage-backed securities: residential
Schedule of Available-for-sale Securities
Less than 12 months, Fair Value	272,264	3
Less than 12 Months, Unrealized Losses	4,076	0
12 months or more, Fair value	22,792	3,112
12 Months or more, Unrealized Losses	860	17
Total Fair Value	295,056	3,115
Total Unrealized Losses	4,936	17
State and municipal securities
Schedule of Available-for-sale Securities
Less than 12 months, Fair Value	138,659	6,921
Less than 12 Months, Unrealized Losses	1,274	28
12 months or more, Fair value	0	0
12 Months or more, Unrealized Losses	0	0
Total Fair Value	138,659	6,921
Total Unrealized Losses	$ 1,274	$ 28

SECURITIES - Quantitative Disclosure of Available For Sale of Securities (Details) - position	Dec. 31, 2021	Dec. 31, 2020
Number of securities with unrealized losses [Abstract]
Less than 12 months	117	7
12 months or more	8	1
Total	125	8
U.S. government sponsored agencies
Number of securities with unrealized losses [Abstract]
Less than 12 months	8	3
12 months or more	5	0
Total	13	3
Mortgage-backed securities: residential
Number of securities with unrealized losses [Abstract]
Less than 12 months	29	2
12 months or more	3	1
Total	32	3
State and municipal securities
Number of securities with unrealized losses [Abstract]
Less than 12 months	80	2
12 months or more	0	0
Total	80	2

SECURITIES - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Information related to available for sale securities
Available-for-sale Securities pledged as collateral	$ 300.8	$ 382.7
Accrued interest receivable on available-for-sale debt securities	$ 7.4
Securities backed by government or investment grade	99.00%

LOANS - Total Loans Outstanding (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	$ 4,291,105	$ 4,657,183
Less: Allowance for credit losses	(67,773)	(61,408)	$ (50,652)	$ (48,453)
Net deferred loan fees	(3,264)	(8,027)
Loans, net	4,220,068	4,587,748
Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	3,863,630	4,210,049
Total consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	427,475	447,134
Other consumer loans \| Total consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	82,755	103,616
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: Allowance for credit losses		(28,333)
Commercial and Industrial \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	1,389,469	1,791,378
Less: Allowance for credit losses	(30,595)	(28,333)	(25,789)	(22,518)
Commercial and Industrial \| Working capital lines of credit loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	652,861	626,023
Commercial and Industrial \| Non-working capital loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	736,608	1,165,355
Commercial real estate and multi-family residential loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	1,954,846	1,895,014
Commercial real estate and multi-family residential loans \| Construction and land development loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	379,813	362,653
Commercial real estate and multi-family residential loans \| Owner occupied loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	739,371	648,019
Commercial real estate and multi-family residential loans \| Nonowner occupied loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	588,458	579,625
Commercial real estate and multi-family residential loans \| Multi-family loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	247,204	304,717
Agri-business and Agricultural
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: Allowance for credit losses		(3,043)
Agri-business and Agricultural \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	445,825	429,644
Less: Allowance for credit losses	(5,034)	(3,043)	$ (3,869)	$ (4,305)
Agri-business and Agricultural \| Loans secured by farmland \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	206,331	195,410
Agri-business and Agricultural \| Loans for agricultural production \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	239,494	234,234
Other commercial loans \| Total commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	73,490	94,013
Consumer 1-4 Family Mortgage \| Total consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	344,720	343,518
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Total consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	176,561	167,847
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| Total consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	156,238	163,664
Consumer 1-4 Family Mortgage \| Residential construction and land development loans \| Total consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	$ 11,921	$ 12,007

LOANS - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Investment loans excluding accrued interest	$ 10,000	$ 14,600
Residential real estate loans in process of foreclosure	$ 350	$ 19

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Allowance for loan losses by portfolio segment (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Post adoption of ASC 326
Beginning balance				$ 61,408				$ 50,652	$ 61,408	$ 50,652	$ 48,453
Provision for credit losses	$ 0	$ 1,300	$ (1,700)	1,477	$ 920	$ 1,750	$ 5,500	6,600	1,077	14,770	3,235
Loans charged-off									(5,983)	(5,253)	(1,910)
Recoveries									2,221	1,239	874
Net loans (charged-off) recovered									(3,762)	(4,014)	(1,036)
Ending balance	67,773				61,408				67,773	61,408	50,652
Impact of ASC 326 Adoption
Post adoption of ASC 326
Beginning balance				9,050					9,050
Ending balance					9,050					9,050
Commercial and Industrial
Post adoption of ASC 326
Beginning balance				28,333					28,333
Ending balance					28,333					28,333
Commercial and Industrial \| Total commercial loans
Post adoption of ASC 326
Beginning balance				28,333				25,789	28,333	25,789	22,518
Provision for credit losses									1,966	6,640	4,259
Loans charged-off									(5,575)	(4,524)	(1,447)
Recoveries									1,559	428	459
Net loans (charged-off) recovered									(4,016)	(4,096)	(988)
Ending balance	30,595				28,333				30,595	28,333	25,789
Commercial and Industrial \| Total commercial loans \| Impact of ASC 326 Adoption
Post adoption of ASC 326
Beginning balance				4,312					4,312
Ending balance					4,312					4,312
Commercial Real Estate and Multi-family Residential
Post adoption of ASC 326
Beginning balance				22,907					22,907
Ending balance					22,907					22,907
Commercial Real Estate and Multi-family Residential \| Total commercial loans
Post adoption of ASC 326
Beginning balance				22,907				15,796	22,907	15,796	15,393
Provision for credit losses									(632)	6,868	259
Loans charged-off									(70)	(72)	(17)
Recoveries									14	315	161
Net loans (charged-off) recovered									(56)	243	144
Ending balance	26,535				22,907				26,535	22,907	15,796
Commercial Real Estate and Multi-family Residential \| Total commercial loans \| Impact of ASC 326 Adoption
Post adoption of ASC 326
Beginning balance				4,316					4,316
Ending balance					4,316					4,316
Agri-business and Agricultural
Post adoption of ASC 326
Beginning balance				3,043					3,043
Ending balance					3,043					3,043
Agri-business and Agricultural \| Total commercial loans
Post adoption of ASC 326
Beginning balance				3,043				3,869	3,043	3,869	4,305
Provision for credit losses									611	(826)	(444)
Loans charged-off									0	0	0
Recoveries									320	0	8
Net loans (charged-off) recovered									320	0	8
Ending balance	5,034				3,043				5,034	3,043	3,869
Agri-business and Agricultural \| Total commercial loans \| Impact of ASC 326 Adoption
Post adoption of ASC 326
Beginning balance				1,060					1,060
Ending balance					1,060					1,060
Other Commercial
Post adoption of ASC 326
Beginning balance				416					416
Ending balance					416					416
Other Commercial \| Total commercial loans
Post adoption of ASC 326
Beginning balance				416				447	416	447	368
Provision for credit losses									(211)	(31)	79
Loans charged-off									0	0	0
Recoveries									0	0	0
Net loans (charged-off) recovered									0	0	0
Ending balance	1,146				416				1,146	416	447
Other Commercial \| Total commercial loans \| Impact of ASC 326 Adoption
Post adoption of ASC 326
Beginning balance				941					941
Ending balance					941					941
Consumer 1-4 Family Mortgage
Post adoption of ASC 326
Beginning balance				2,619					2,619
Ending balance					2,619					2,619
Consumer 1-4 Family Mortgage \| Other consumer loans
Post adoption of ASC 326
Beginning balance				2,619				2,086	2,619	2,086	2,292
Provision for credit losses									(777)	341	(219)
Loans charged-off									(51)	(141)	(110)
Recoveries									122	333	123
Net loans (charged-off) recovered									71	192	13
Ending balance	2,866				2,619				2,866	2,619	2,086
Consumer 1-4 Family Mortgage \| Other consumer loans \| Impact of ASC 326 Adoption
Post adoption of ASC 326
Beginning balance				953					953
Ending balance					953					953
Other Consumer
Post adoption of ASC 326
Beginning balance				951					951
Ending balance					951					951
Other Consumer \| Other consumer loans
Post adoption of ASC 326
Beginning balance				951				345	951	345	283
Provision for credit losses									(72)	959	275
Loans charged-off									(287)	(516)	(336)
Recoveries									206	163	123
Net loans (charged-off) recovered									(81)	(353)	(213)
Ending balance	1,147				951				1,147	951	345
Other Consumer \| Other consumer loans \| Impact of ASC 326 Adoption
Post adoption of ASC 326
Beginning balance				349					349
Ending balance					349					349
Unallocated
Post adoption of ASC 326
Beginning balance				3,139				$ 2,320	3,139	2,320	3,294
Provision for credit losses									192	819	(974)
Loans charged-off									0	0	0
Recoveries									0	0	0
Net loans (charged-off) recovered									0	0	0
Ending balance	$ 450				3,139				450	3,139	$ 2,320
Unallocated \| Impact of ASC 326 Adoption
Post adoption of ASC 326
Beginning balance				$ (2,881)					$ (2,881)
Ending balance					$ (2,881)					$ (2,881)

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021 USD ($) loan borrower	Dec. 31, 2020 USD ($) borrower	Dec. 31, 2019 USD ($) loan
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan amount of credit quality analysis	$ 250,000
Loans receivable before allowance for credit loss	4,287,841,000
Loans modified In troubled debt restructured loans	2,200,000
Increase in allowance for loan loss	$ (423,000)		$ (484,000)
Number of loans modified \| loan	8		1
Financing receivable, loan portfolio, deferrals, COVID-19	$ 11,000	$ 100,700,000
Financing receivable, loan portfolio, deferrals, COVID-19, borrowers \| borrower		49
Financing receivable, loan portfolio, deferrals, COVID-19, percentage of loan portfolio (as a percent)		2.20%
Financing Receivable, Loan Portfolio, Deferrals, COVID-19, Period		90 days
Construction and land development loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans modified In troubled debt restructured loans			$ 2,400,000
Number of loans modified \| loan			5
Total commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, loan portfolio, deferrals, COVID-19		$ 98,200,000
Financing receivable, loan portfolio, deferrals, COVID-19, borrowers \| borrower		22
Financing receivable, loan portfolio, deferrals, COVID-19, percentage of loan portfolio (as a percent)		2.30%
Loans under second deferral action		$ 22,800,000
Loans under third deferral action		41,900,000
Loans under fourth deferral action		24,100,000
Loans under first deferral action		11,900,000
Total consumer loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans modified In troubled debt restructured loans	$ 5,800,000	5,500,000
Financing receivable, loan portfolio, deferrals, COVID-19		$ 2,500,000
Financing receivable, loan portfolio, deferrals, COVID-19, borrowers \| borrower	1	27
Financing receivable, loan portfolio, deferrals, COVID-19, percentage of loan portfolio (as a percent)		0.70%
PPP \| Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable before allowance for credit loss	$ 26,200,000
Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, loan portfolio, deferrals, COVID-19, borrowers \| borrower		2
Financing Receivable Loan Portfolio Deferrals Covid19 Loans Under Fourth Deferral Action, Percentage		90.00%
Commercial Real Estate and Multi-family Residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans modified In troubled debt restructured loans			$ 1,900,000
Number of loans modified \| loan			3

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Risk category of loans by loan segment and origination (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
2021	$ 839,292
2020	719,840
2019	414,127
2018	207,202
2017	217,546
Prior	266,255
Term Total	2,664,262
Revolving	1,623,579
Total	4,287,841
Total ending loans balance		$ 4,649,156
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		3,997,245
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		251,891
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		34,264
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		365,756
Commercial and Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		1,784,926
Commercial and Industrial \| Working capital lines of credit loans
Financing Receivable, Credit Quality Indicator [Line Items]
2021	3,699
2020	830
2019	3,395
2018	0
2017	0
Prior	0
Term Total	7,924
Revolving	645,003
Total	652,927
Total ending loans balance		626,099
Commercial and Industrial \| Working capital lines of credit loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021	3,699
2020	830
2019	3,360
2018	0
2017	0
Prior	0
Term Total	7,889
Revolving	558,634
Total	566,523
Total ending loans balance		535,071
Commercial and Industrial \| Working capital lines of credit loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021	0
2020	0
2019	0
2018	0
2017	0
Prior	0
Term Total	0
Revolving	60,441
Total	60,441
Total ending loans balance		81,095
Commercial and Industrial \| Working capital lines of credit loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2021	0
2020	0
2019	35
2018	0
2017	0
Prior	0
Term Total	35
Revolving	25,928
Total	25,963
Total ending loans balance		9,718
Commercial and Industrial \| Working capital lines of credit loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Commercial and Industrial \| Working capital lines of credit loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		215
Commercial and Industrial \| Non-working capital loans
Financing Receivable, Credit Quality Indicator [Line Items]
2021	208,363
2020	147,863
2019	81,630
2018	42,975
2017	27,358
Prior	20,355
Term Total	528,544
Revolving	207,115
Total	735,659
Total ending loans balance		1,158,827
Commercial and Industrial \| Non-working capital loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021	185,374
2020	139,157
2019	79,477
2018	38,899
2017	19,415
Prior	18,489
Term Total	480,811
Revolving	203,794
Total	684,605
Total ending loans balance		1,111,989
Commercial and Industrial \| Non-working capital loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021	17,728
2020	0
2019	225
2018	979
2017	2,350
Prior	1,426
Term Total	22,708
Revolving	0
Total	22,708
Total ending loans balance		26,523
Commercial and Industrial \| Non-working capital loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2021	2,996
2020	6,948
2019	1,091
2018	2,534
2017	5,465
Prior	426
Term Total	19,460
Revolving	3,321
Total	22,781
Total ending loans balance		14,820
Commercial and Industrial \| Non-working capital loans \| Not Rated
Financing Receivable, Credit Quality Indicator [Line Items]
2021	2,265
2020	1,758
2019	837
2018	563
2017	128
Prior	14
Term Total	5,565
Revolving	0
Total	5,565
Commercial and Industrial \| Non-working capital loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Commercial and Industrial \| Non-working capital loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		5,495
Commercial Real Estate and Multi-family Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		1,892,572
Commercial Real Estate and Multi-family Residential \| Construction and land development loans
Financing Receivable, Credit Quality Indicator [Line Items]
2021	35,136
2020	30,224
2019	1,276
2018	998
2017	0
Prior	0
Term Total	67,634
Revolving	310,396
Total	378,030
Total ending loans balance		361,664
Commercial Real Estate and Multi-family Residential \| Construction and land development loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021	35,136
2020	30,224
2019	1,276
2018	998
2017	0
Prior	0
Term Total	67,634
Revolving	310,396
Total	378,030
Total ending loans balance		361,664
Commercial Real Estate and Multi-family Residential \| Construction and land development loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Commercial Real Estate and Multi-family Residential \| Construction and land development loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Commercial Real Estate and Multi-family Residential \| Construction and land development loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Commercial Real Estate and Multi-family Residential \| Construction and land development loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Commercial Real Estate and Multi-family Residential \| Owner occupied loans
Financing Receivable, Credit Quality Indicator [Line Items]
2021	142,905
2020	170,974
2019	125,906
2018	87,761
2017	86,236
Prior	95,398
Term Total	709,180
Revolving	29,611
Total	738,791
Total ending loans balance		647,574
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021	135,861
2020	169,404
2019	124,117
2018	85,070
2017	78,155
Prior	93,925
Term Total	686,532
Revolving	29,611
Total	716,143
Total ending loans balance		608,845
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021	6,555
2020	0
2019	880
2018	933
2017	7,387
Prior	1,235
Term Total	16,990
Revolving	0
Total	16,990
Total ending loans balance		31,355
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2021	489
2020	1,570
2019	909
2018	1,758
2017	694
Prior	238
Term Total	5,658
Revolving	0
Total	5,658
Total ending loans balance		7,374
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans
Financing Receivable, Credit Quality Indicator [Line Items]
2021	158,167
2020	154,764
2019	107,262
2018	19,054
2017	31,023
Prior	73,407
Term Total	543,677
Revolving	44,362
Total	588,039
Total ending loans balance		579,050
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021	146,342
2020	154,433
2019	107,262
2018	19,054
2017	31,023
Prior	59,154
Term Total	517,268
Revolving	44,362
Total	561,630
Total ending loans balance		547,790
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021	11,825
2020	331
2019	0
2018	0
2017	0
Prior	14,253
Term Total	26,409
Revolving	0
Total	26,409
Total ending loans balance		31,260
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Commercial Real Estate and Multi-family Residential \| Multi-family loans
Financing Receivable, Credit Quality Indicator [Line Items]
2021	84,678
2020	53,195
2019	36,575
2018	12,286
2017	36,826
Prior	9,793
Term Total	233,353
Revolving	13,434
Total	246,787
Total ending loans balance		304,284
Commercial Real Estate and Multi-family Residential \| Multi-family loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021	84,678
2020	53,195
2019	36,575
2018	12,286
2017	14,574
Prior	9,793
Term Total	211,101
Revolving	13,434
Total	224,535
Total ending loans balance		282,031
Commercial Real Estate and Multi-family Residential \| Multi-family loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021	0
2020	0
2019	0
2018	0
2017	22,252
Prior	0
Term Total	22,252
Revolving	0
Total	22,252
Total ending loans balance		22,253
Commercial Real Estate and Multi-family Residential \| Multi-family loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Commercial Real Estate and Multi-family Residential \| Multi-family loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Commercial Real Estate and Multi-family Residential \| Multi-family loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Agri-business and Agricultural
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		429,662
Agri-business and Agricultural \| Loans secured by farmland
Financing Receivable, Credit Quality Indicator [Line Items]
2021	47,739
2020	39,020
2019	18,552
2018	10,469
2017	10,634
Prior	17,196
Term Total	143,610
Revolving	62,692
Total	206,302
Total ending loans balance		195,363
Agri-business and Agricultural \| Loans secured by farmland \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021	47,532
2020	37,035
2019	16,249
2018	10,469
2017	10,454
Prior	17,021
Term Total	138,760
Revolving	61,774
Total	200,534
Total ending loans balance		183,983
Agri-business and Agricultural \| Loans secured by farmland \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021	0
2020	1,985
2019	2,303
2018	0
2017	180
Prior	30
Term Total	4,498
Revolving	918
Total	5,416
Total ending loans balance		10,728
Agri-business and Agricultural \| Loans secured by farmland \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2021	207
2020	0
2019	0
2018	0
2017	0
Prior	145
Term Total	352
Revolving	0
Total	352
Total ending loans balance		652
Agri-business and Agricultural \| Loans secured by farmland \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Agri-business and Agricultural \| Loans secured by farmland \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Agri-business and Agricultural \| Loans for agricultural production
Financing Receivable, Credit Quality Indicator [Line Items]
2021	36,686
2020	34,497
2019	5,395
2018	11,072
2017	1,331
Prior	4,178
Term Total	93,159
Revolving	146,414
Total	239,573
Total ending loans balance		234,299
Agri-business and Agricultural \| Loans for agricultural production \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021	36,238
2020	25,855
2019	4,224
2018	11,072
2017	1,331
Prior	4,178
Term Total	82,898
Revolving	138,142
Total	221,040
Total ending loans balance		185,875
Agri-business and Agricultural \| Loans for agricultural production \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021	448
2020	8,642
2019	1,171
2018	0
2017	0
Prior	0
Term Total	10,261
Revolving	8,272
Total	18,533
Total ending loans balance		48,424
Agri-business and Agricultural \| Loans for agricultural production \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Agri-business and Agricultural \| Loans for agricultural production \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Agri-business and Agricultural \| Loans for agricultural production \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Agri-business and Agricultural \| Other commercial loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		93,912
Agri-business and Agricultural \| Other commercial loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		93,912
Agri-business and Agricultural \| Other commercial loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Agri-business and Agricultural \| Other commercial loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Agri-business and Agricultural \| Other commercial loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Agri-business and Agricultural \| Other commercial loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Consumer 1-4 Family Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		344,699
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
2021	59,724
2020	43,911
2019	14,560
2018	11,120
2017	10,677
Prior	30,816
Term Total	170,808
Revolving	5,487
Total	176,295
Total ending loans balance		167,501
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021	14,635
2020	16,173
2019	5,312
2018	5,903
2017	3,049
Prior	3,221
Term Total	48,293
Revolving	5,005
Total	53,298
Total ending loans balance		40,682
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2021	0
2020	0
2019	0
2018	0
2017	0
Prior	1,274
Term Total	1,274
Revolving	0
Total	1,274
Total ending loans balance		1,695
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Not Rated
Financing Receivable, Credit Quality Indicator [Line Items]
2021	45,089
2020	27,738
2019	9,248
2018	5,217
2017	7,628
Prior	26,321
Term Total	121,241
Revolving	482
Total	121,723
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		125,124
Consumer 1-4 Family Mortgage \| Open end and junior lien loans
Financing Receivable, Credit Quality Indicator [Line Items]
2021	22,624
2020	6,003
2019	6,146
2018	4,212
2017	1,653
Prior	1,526
Term Total	42,164
Revolving	115,695
Total	157,859
Total ending loans balance		165,236
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021	679
2020	379
2019	159
2018	313
2017	0
Prior	0
Term Total	1,530
Revolving	5,074
Total	6,604
Total ending loans balance		8,424
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2021	0
2020	0
2019	0
2018	0
2017	0
Prior	0
Term Total	0
Revolving	98
Total	98
Total ending loans balance		5
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| Not Rated
Financing Receivable, Credit Quality Indicator [Line Items]
2021	21,945
2020	5,624
2019	5,987
2018	3,899
2017	1,653
Prior	1,526
Term Total	40,634
Revolving	110,523
Total	151,157
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		156,807
Consumer 1-4 Family Mortgage \| Residential construction loans
Financing Receivable, Credit Quality Indicator [Line Items]
2021	7,926
2020	1,537
2019	960
2018	138
2017	171
Prior	1,125
Term Total	11,857
Revolving	0
Total	11,857
Total ending loans balance		11,962
Consumer 1-4 Family Mortgage \| Residential construction loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Consumer 1-4 Family Mortgage \| Residential construction loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Consumer 1-4 Family Mortgage \| Residential construction loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Consumer 1-4 Family Mortgage \| Residential construction loans \| Not Rated
Financing Receivable, Credit Quality Indicator [Line Items]
2021	7,926
2020	1,537
2019	960
2018	138
2017	171
Prior	1,125
Term Total	11,857
Revolving	0
Total	11,857
Consumer 1-4 Family Mortgage \| Residential construction loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Consumer 1-4 Family Mortgage \| Residential construction loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		11,962
Consumer 1-4 Family Mortgage \| Other consumer loans
Financing Receivable, Credit Quality Indicator [Line Items]
2021	25,089
2020	15,911
2019	9,227
2018	5,844
2017	3,045
Prior	1,203
Term Total	60,319
Revolving	22,225
Total	82,544
Consumer 1-4 Family Mortgage \| Other consumer loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021	3,401
2020	957
2019	1,523
2018	0
2017	1,155
Prior	0
Term Total	7,036
Revolving	12,998
Total	20,034
Consumer 1-4 Family Mortgage \| Other consumer loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2021	36
2020	23
2019	230
2018	0
2017	0
Prior	0
Term Total	289
Revolving	0
Total	289
Consumer 1-4 Family Mortgage \| Other consumer loans \| Not Rated
Financing Receivable, Credit Quality Indicator [Line Items]
2021	21,652
2020	14,931
2019	7,474
2018	5,844
2017	1,890
Prior	1,203
Term Total	52,994
Revolving	9,227
Total	62,221
Consumer 1-4 Family Mortgage \| Total consumer loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		103,385
Consumer 1-4 Family Mortgage \| Total consumer loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		36,979
Consumer 1-4 Family Mortgage \| Total consumer loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		253
Consumer 1-4 Family Mortgage \| Total consumer loans \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Consumer 1-4 Family Mortgage \| Total consumer loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		0
Consumer 1-4 Family Mortgage \| Total consumer loans \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total ending loans balance		$ 66,153
Other commercial loans
Financing Receivable, Credit Quality Indicator [Line Items]
2021	6,556
2020	21,111
2019	3,243
2018	1,273
2017	8,592
Prior	11,258
Term Total	52,033
Revolving	21,145
Total	73,178
Other commercial loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021	6,556
2020	21,111
2019	3,243
2018	1,273
2017	8,592
Prior	7,460
Term Total	48,235
Revolving	21,145
Total	69,380
Other commercial loans \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021	0
2020	0
2019	0
2018	0
2017	0
Prior	3,798
Term Total	3,798
Revolving	0
Total	$ 3,798

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Amortized Cost Basis Of Collateral Dependent Loans (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Collateral Dependent Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	$ 6,469
General Business Assets	17,091
Other	1,390
Total	24,950
Commercial and Industrial \| Working capital lines of credit loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	0
General Business Assets	5,966
Other	0
Total	5,966
Commercial and Industrial \| Non-working capital loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	1,606
General Business Assets	9,475
Other	229
Total	11,310
Commercial Real Estate and Multi-family Residential \| Owner occupied loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	1,435
General Business Assets	1,505
Other	1,161
Total	4,101
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	0
General Business Assets	0
Other	0
Total	0
Agri-business and Agricultural \| Loans secured by farmland
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	190
General Business Assets	145
Other	0
Total	335
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	3,081
General Business Assets	0
Other	0
Total	3,081
Consumer 1-4 Family Mortgage \| Open end and junior lien loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	98
General Business Assets	0
Other	0
Total	98
Consumer 1-4 Family Mortgage \| Other consumer loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Real Estate	59
General Business Assets	0
Other	0
Total	$ 59

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Troubled Debt Restructuring (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY
Accruing troubled debt restructured loans	$ 5,121	$ 5,237
Nonaccrual troubled debt restructured loans	6,218	6,476
Total troubled debt restructured loans	$ 11,339	$ 11,713

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Loans By Class Modified As Troubled Debt Restructuring (Details)	12 Months Ended
	Dec. 31, 2021 USD ($) loan	Dec. 31, 2020 USD ($) loan	Dec. 31, 2019 USD ($) loan
Financing Receivable, Modifications
Number of Loans	8		1
Pre-Modification Outstanding Recorded Investment \| $	$ 6,066,000		$ 35
Post-Modification Outstanding Recorded Investment \| $	$ 5,533,000		$ 35
Number of Loans	0	0	1,000
Extension Period or Range (in months)			1 month
Recorded Investment \| $	$ 0	$ 0	$ 601,000
All Modifications
Financing Receivable, Modifications
Number of Loans	4
Modified Repayment Terms
Financing Receivable, Modifications
Number of Loans	4
Extension Period or Range (in months)		0 days
Commercial and Industrial \| Working capital lines of credit loans
Financing Receivable, Modifications
Number of Loans			1
Pre-Modification Outstanding Recorded Investment \| $	$ 250,000		$ 35
Post-Modification Outstanding Recorded Investment \| $	$ 315,000		$ 35
Extension Period or Range (in months)			1 month
Commercial and Industrial \| Working capital lines of credit loans \| All Modifications
Financing Receivable, Modifications
Number of Loans	1
Commercial and Industrial \| Working capital lines of credit loans \| Modified Repayment Terms
Financing Receivable, Modifications
Number of Loans	1
Extension Period or Range (in months)	0 days
Commercial and Industrial \| Non-working capital loans
Financing Receivable, Modifications
Pre-Modification Outstanding Recorded Investment \| $	$ 4,288,000
Post-Modification Outstanding Recorded Investment \| $	$ 3,691,000
Number of Loans	0	0	1,000
Recorded Investment \| $	$ 0	$ 0	$ 601,000
Commercial and Industrial \| Non-working capital loans \| All Modifications
Financing Receivable, Modifications
Number of Loans	2
Commercial and Industrial \| Non-working capital loans \| Modified Repayment Terms
Financing Receivable, Modifications
Number of Loans	2
Extension Period or Range (in months)	0 days
Commercial Real Estate and Multi-family Residential
Financing Receivable, Modifications
Number of Loans			3
Commercial Real Estate and Multi-family Residential \| Owner occupied loans
Financing Receivable, Modifications
Pre-Modification Outstanding Recorded Investment \| $	$ 1,528,000
Post-Modification Outstanding Recorded Investment \| $	$ 1,527,000
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| All Modifications
Financing Receivable, Modifications
Number of Loans	1
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Modified Repayment Terms
Financing Receivable, Modifications
Number of Loans	1
Extension Period or Range (in months)	0 days
Consumer 1-4 Family Mortgage
Financing Receivable, Modifications
Number of Loans	2
Pre-Modification Outstanding Recorded Investment \| $	$ 217,000
Post-Modification Outstanding Recorded Investment \| $	$ 217,000
Consumer 1-4 Family Mortgage \| Minimum
Financing Receivable, Modifications
Extension Period or Range (in months)	172 years
Consumer 1-4 Family Mortgage \| Maximum
Financing Receivable, Modifications
Extension Period or Range (in months)	204 years
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans
Financing Receivable, Modifications
Number of Loans	2
Pre-Modification Outstanding Recorded Investment \| $	$ 217,000
Post-Modification Outstanding Recorded Investment \| $	$ 217,000

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Troubled Debt Restructurings Subsequently Defaulted (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) loan	Dec. 31, 2020 USD ($) loan	Dec. 31, 2019 USD ($) loan
Troubled Debt Restructurings
Number of Loans \| loan	0	0	1,000
Recorded Investment \| $	$ 0	$ 0	$ 601
Non-working capital loans \| Commercial and Industrial
Troubled Debt Restructurings
Number of Loans \| loan	0	0	1,000
Recorded Investment \| $	$ 0	$ 0	$ 601

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Balance In The Allowance For Loan Losses And The Recorded Investment In Loans By Portfolio Management (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Ending allowance balance attributable to loans:
Individually evaluated for impairment		$ 8,041
Collectively evaluated for impairment		53,367
Total ending allowance balance	$ 67,773	61,408	$ 50,652	$ 48,453
Loans:
Loans individually evaluated for impairment		20,179
Loans collectively evaluated for impairment		4,628,977
Total ending loans balance		4,649,156
Commercial and Industrial
Ending allowance balance attributable to loans:
Individually evaluated for impairment		6,310
Collectively evaluated for impairment		22,023
Total ending allowance balance		28,333
Loans:
Loans individually evaluated for impairment		12,533
Loans collectively evaluated for impairment		1,772,393
Total ending loans balance		1,784,926
Commercial Real Estate and Multi-family Residential
Ending allowance balance attributable to loans:
Individually evaluated for impairment		1,377
Collectively evaluated for impairment		21,530
Total ending allowance balance		22,907
Loans:
Loans individually evaluated for impairment		5,518
Loans collectively evaluated for impairment		1,887,054
Total ending loans balance		1,892,572
Agri-business and Agricultural
Ending allowance balance attributable to loans:
Individually evaluated for impairment		84
Collectively evaluated for impairment		2,959
Total ending allowance balance		3,043
Loans:
Loans individually evaluated for impairment		428
Loans collectively evaluated for impairment		429,234
Total ending loans balance		429,662
Other Commercial
Ending allowance balance attributable to loans:
Individually evaluated for impairment		0
Collectively evaluated for impairment		416
Total ending allowance balance		416
Loans:
Loans individually evaluated for impairment		0
Loans collectively evaluated for impairment		93,912
Total ending loans balance		93,912
Consumer 1-4 Family Mortgage
Ending allowance balance attributable to loans:
Individually evaluated for impairment		270
Collectively evaluated for impairment		2,349
Total ending allowance balance		2,619
Loans:
Loans individually evaluated for impairment		1,700
Loans collectively evaluated for impairment		342,999
Total ending loans balance		344,699
Other Consumer
Ending allowance balance attributable to loans:
Individually evaluated for impairment		0
Collectively evaluated for impairment		951
Total ending allowance balance		951
Loans:
Loans individually evaluated for impairment		0
Loans collectively evaluated for impairment		103,385
Total ending loans balance		103,385
Unallocated
Ending allowance balance attributable to loans:
Individually evaluated for impairment		0
Collectively evaluated for impairment		3,139
Total ending allowance balance	$ 450	3,139	$ 2,320	$ 3,294
Loans:
Loans individually evaluated for impairment		0
Loans collectively evaluated for impairment		0
Total ending loans balance		$ 0

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Loans Individually Evaluated For Impairment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Loans Individually Evaluated for Impairment [Abstract]
Unpaid Principal Balance	$ 22,939
Recorded Investment	20,179
Allowance for Loan Losses Allocated	8,041
Average Recorded Investment	23,362	$ 26,464
Interest Income Recognized	390	770
Cash Basis Interest Income Recognized	385	651
Total consumer loans
Loans Individually Evaluated for Impairment [Abstract]
Average Recorded Investment with an allowance recorded	0
Interest Income Recognized with an allowance recorded	0
Cash basis interest income recognized with an allowance recorded	0
Commercial and Industrial
Loans Individually Evaluated for Impairment [Abstract]
Allowance for Loan Losses Allocated	6,310
Commercial and Industrial \| Working capital lines of credit loans
Loans Individually Evaluated for Impairment [Abstract]
Unpaid principal balance with no related allowance recorded	346
Unpaid principal balance with an allowance recorded	433
Recorded Investment with no related allowance recorded	173
Recorded investment with an allowance recorded	433
Allowance for loan losses allocated with no related allowance recorded	0
Allowance for loans losses allocated with an allowance recorded	255
Average Recorded Investment with no related allowance recorded	375	176
Average Recorded Investment with an allowance recorded	2,433	6,335
Interest Income Recognized with no related allowance recorded	0	9
Interest Income Recognized with an allowance recorded	0	143
Cash basis interest income recognized with no related allowance recorded	0	9
Cash basis interest income recognized with an allowance recorded	0	81
Commercial and Industrial \| Non-working capital loans
Loans Individually Evaluated for Impairment [Abstract]
Unpaid principal balance with no related allowance recorded	2,399
Unpaid principal balance with an allowance recorded	11,644
Recorded Investment with no related allowance recorded	968
Recorded investment with an allowance recorded	10,959
Allowance for loan losses allocated with no related allowance recorded	0
Allowance for loans losses allocated with an allowance recorded	6,055
Average Recorded Investment with no related allowance recorded	816	1,170
Average Recorded Investment with an allowance recorded	11,579	11,800
Interest Income Recognized with no related allowance recorded	21	40
Interest Income Recognized with an allowance recorded	287	448
Cash basis interest income recognized with no related allowance recorded	21	30
Cash basis interest income recognized with an allowance recorded	287	410
Commercial Real Estate and Multi-family Residential
Loans Individually Evaluated for Impairment [Abstract]
Allowance for Loan Losses Allocated	1,377
Commercial Real Estate and Multi-family Residential \| Construction and land development loans
Loans Individually Evaluated for Impairment [Abstract]
Average Recorded Investment with an allowance recorded
Interest Income Recognized with an allowance recorded
Cash basis interest income recognized with an allowance recorded
Commercial Real Estate and Multi-family Residential \| Owner occupied loans
Loans Individually Evaluated for Impairment [Abstract]
Unpaid principal balance with no related allowance recorded	3,002
Unpaid principal balance with an allowance recorded	2,589
Recorded Investment with no related allowance recorded	2,930
Recorded investment with an allowance recorded	2,588
Allowance for loan losses allocated with no related allowance recorded	0
Allowance for loans losses allocated with an allowance recorded	1,377
Average Recorded Investment with no related allowance recorded	2,156	2,354
Average Recorded Investment with an allowance recorded	3,156	1,849
Interest Income Recognized with no related allowance recorded	13	34
Interest Income Recognized with an allowance recorded	30	43
Cash basis interest income recognized with no related allowance recorded	12	34
Cash basis interest income recognized with an allowance recorded	30	39
Agri-business and Agricultural
Loans Individually Evaluated for Impairment [Abstract]
Allowance for Loan Losses Allocated	84
Agri-business and Agricultural \| Loans secured by farmland
Loans Individually Evaluated for Impairment [Abstract]
Unpaid principal balance with no related allowance recorded	603
Unpaid principal balance with an allowance recorded	145
Recorded Investment with no related allowance recorded	283
Recorded investment with an allowance recorded	145
Allowance for loan losses allocated with no related allowance recorded	0
Allowance for loans losses allocated with an allowance recorded	84
Average Recorded Investment with no related allowance recorded	283	283
Average Recorded Investment with an allowance recorded	147	147
Interest Income Recognized with no related allowance recorded	0	0
Interest Income Recognized with an allowance recorded	0	3
Cash basis interest income recognized with no related allowance recorded	0	0
Cash basis interest income recognized with an allowance recorded	0	1
Agri-business and Agricultural \| Loans for agricultural production
Loans Individually Evaluated for Impairment [Abstract]
Average Recorded Investment with no related allowance recorded	4	4
Interest Income Recognized with no related allowance recorded	0	0
Cash basis interest income recognized with no related allowance recorded	0	0
Consumer 1-4 Family Mortgage
Loans Individually Evaluated for Impairment [Abstract]
Allowance for Loan Losses Allocated	270
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans
Loans Individually Evaluated for Impairment [Abstract]
Unpaid principal balance with no related allowance recorded	316
Unpaid principal balance with an allowance recorded	1,457
Recorded Investment with no related allowance recorded	236
Recorded investment with an allowance recorded	1,459
Allowance for loan losses allocated with no related allowance recorded	0
Allowance for loans losses allocated with an allowance recorded	270
Average Recorded Investment with no related allowance recorded	291	272
Average Recorded Investment with an allowance recorded	1,557	1,643
Interest Income Recognized with no related allowance recorded	3	3
Interest Income Recognized with an allowance recorded	36	45
Cash basis interest income recognized with no related allowance recorded	2	3
Cash basis interest income recognized with an allowance recorded	33	43
Consumer 1-4 Family Mortgage \| Open end and junior lien loans
Loans Individually Evaluated for Impairment [Abstract]
Unpaid principal balance with no related allowance recorded	5
Recorded Investment with no related allowance recorded	5
Allowance for loan losses allocated with no related allowance recorded	0
Consumer 1-4 Family Mortgage \| Open end and junior lien loans
Loans Individually Evaluated for Impairment [Abstract]
Average Recorded Investment with no related allowance recorded	49	133
Average Recorded Investment with an allowance recorded	481	268
Interest Income Recognized with no related allowance recorded	0	0
Interest Income Recognized with an allowance recorded	0	0
Cash basis interest income recognized with no related allowance recorded	0	0
Cash basis interest income recognized with an allowance recorded	0	0
Consumer 1-4 Family Mortgage \| Residential construction loans
Loans Individually Evaluated for Impairment [Abstract]
Average Recorded Investment with an allowance recorded	35	9
Interest Income Recognized with an allowance recorded	0	0
Cash basis interest income recognized with an allowance recorded	$ 0	0
Consumer 1-4 Family Mortgage \| Total consumer loans
Loans Individually Evaluated for Impairment [Abstract]
Average Recorded Investment with an allowance recorded		21
Interest Income Recognized with an allowance recorded		2
Cash basis interest income recognized with an allowance recorded		$ 1

FAIR VALUE - Additional Information (Details) - USD ($)	12 Months Ended
FAIR VALUE - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	3.40%
Mortgage servicing rights	$ 3,100,000
Mortgage servicing rights, impairment	715,000
Amortized cost	2,400,000
Valuation reserve	$ 0	$ 715,000	$ 0
Weighted average maturity of residential mortgages	20 years
Prepayment Speed used in unobservable assumptions	249	204
Discount rate used to estimate fair value	9.50%	9.40%
Gross loans	$ 4,291,105,000	$ 4,657,183,000
Valuation allowance after adoption of ASC 326	67,773,000	61,408,000	50,652,000	$ 48,453,000
Recoveries	2,221,000	$ 1,239,000	$ 874,000
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)	0.00%
Minimum \| Inventory Finished Goods \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	35.00%
Minimum \| Finished Goods \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	30.00%
Minimum \| Inventory Work In Process \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	50.00%
Minimum \| Equipment \| Level 3
Assets Pledged As Collateral For Loans Receivable [Line Items]
Percentage of discount from appraised value (in hundredths)	30.00%
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)	65.00%
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)	70.00%
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%)

FAIR VALUE - Assets and Liabilities Measured At Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets:
Mortgage banking derivative	$ 14,309	$ 21,764
Liabilities:
Mortgage banking derivative	14,329	21,794
Fair Value, Measurements, Recurring
Assets:
U.S. Treasury securities	900
U.S. government sponsored agency securities	143,452	36,487
Mortgage-backed securities: residential	486,676	279,503
Mortgage-backed securities: commercial	523	36,881
State and municipal securities	767,007	381,974
Total debt securities	1,398,558	734,845
Mortgage banking derivative	398	1,182
Interest rate swap derivative	14,309	21,764
Total assets	1,413,265	757,791
Liabilities:
Mortgage banking derivative	2	111
Interest rate swap derivative	14,329	21,794
Total liabilities	14,331	21,905
Level 1 \| Fair Value, Measurements, Recurring
Assets:
U.S. Treasury securities	900
U.S. government sponsored agency securities	0	0
Mortgage-backed securities: residential	0	0
Mortgage-backed securities: commercial	0	0
State and municipal securities	0	0
Total debt securities	900	0
Mortgage banking derivative	0	0
Interest rate swap derivative	0	0
Total assets	900	0
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	143,452	36,487
Mortgage-backed securities: residential	486,676	279,503
Mortgage-backed securities: commercial	523	36,881
State and municipal securities	764,964	381,834
Total debt securities	1,395,615	734,705
Mortgage banking derivative	398	1,182
Interest rate swap derivative	14,309	21,764
Total assets	1,410,322	757,651
Liabilities:
Mortgage banking derivative	2	111
Interest rate swap derivative	14,329	21,794
Total liabilities	14,331	21,905
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
Mortgage-backed securities: commercial	0	0
State and municipal securities	2,043	140
Total debt securities	2,043	140
Mortgage banking derivative	0	0
Interest rate swap derivative	0	0
Total assets	2,043	140
Liabilities:
Mortgage banking derivative	0	0
Interest rate swap derivative	0	0
Total liabilities	$ 0	$ 0

FAIR VALUE - Valuation Methodology and Unobservable Inputs for Level 3 Assets (Details) - Fair Value, Measurements, Nonrecurring $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($) item
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Total collateral dependent loans	$ 6,364	$ 6,765
Commercial and Industrial
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Total collateral dependent loans	$ 5,342	$ 5,082
Valuation Methodology	Collateral based measurements	Collateral based measurements
Unobservable Inputs	Discount to reflect current market conditions and ultimate collectability	Discount to reflect current market conditions
Commercial and Industrial \| Minimum
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.22	16
Commercial and Industrial \| Maximum
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.99	100
Commercial and Industrial \| Weighted Average
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.65	55
Commercial Real Estate and Multi-family Residential
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Total collateral dependent loans	$ 791	$ 1,211
Valuation Methodology	Collateral based measurements	Collateral based measurements
Unobservable Inputs	Discount to reflect current market conditions and ultimate collectability	Discount to reflect current market conditions
Commercial Real Estate and Multi-family Residential \| Minimum
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.34	21
Commercial Real Estate and Multi-family Residential \| Maximum
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.68	74
Commercial Real Estate and Multi-family Residential \| Weighted Average
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.51	53
Consumer 1-4 Family Mortgage
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Total collateral dependent loans		$ 411
Valuation Methodology		Collateral based measurements
Unobservable Inputs		Discount to reflect current market conditions and ultimate collectability
Consumer 1-4 Family Mortgage \| Minimum
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs \| item		10
Consumer 1-4 Family Mortgage \| Maximum
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs \| item		15
Consumer 1-4 Family Mortgage \| Weighted Average
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs \| item		11
Agri-business and agricultural
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Total collateral dependent loans	$ 231	$ 61
Valuation Methodology	Collateral based measurements	Collateral based measurements
Unobservable Inputs	Discount to reflect current market conditions and ultimate collectability	Discount to reflect current market conditions and ultimate collectability
Agri-business and agricultural \| Minimum
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.03
Agri-business and agricultural \| Maximum
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.68
Agri-business and agricultural \| Weighted Average
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.35	58
Other real estate owned
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Total collateral dependent loans	$ 196
Valuation Methodology	Appraisals
Unobservable Inputs	Discount to reflect current market conditions and ultimate collectability
Other real estate owned \| Weighted Average
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items]
Range of Inputs	0.38

FAIR VALUE - Estimated Fair Values And The Related Carrying Values Of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Carrying Value
Financial Assets:
Cash and cash equivalents	$ 683,240	$ 249,927
Securities available-for-sale	1,398,558	734,845
Real estate mortgages held-for-sale	7,470	11,218
Loans, net	4,220,068	4,587,748
Mortgage banking derivative	398	1,182
Interest rate swap derivative	14,309	21,764
Federal Reserve and Federal Home Loan Bank Stock	13,772	13,772
Accrued interest receivable	17,674	18,761
Financial Liabilities:
Certificates of deposit	(829,518)	(1,024,819)
All other deposits	(4,905,889)	(4,011,986)
Miscellaneous borrowings		(10,500)
Federal Home Loan Bank advances	(75,000)	(75,000)
Mortgage banking derivative	(2)	(111)
Interest rate swap derivative	(14,329)	(21,794)
Standby letters of credit	(272)	(686)
Accrued interest payable	(2,619)	(5,959)
Estimated Fair Value
Financial Assets:
Cash and cash equivalents	683,240	249,927
Securities available-for-sale	1,398,558	734,845
Real estate mortgages held-for-sale	7,634	11,651
Loans, net	4,144,000	4,532,639
Mortgage banking derivative	398	1,182
Interest rate swap derivative	14,309	21,764
Accrued interest receivable	17,674	18,761
Financial Liabilities:
Certificates of deposit	(833,617)	(1,033,095)
All other deposits	(4,905,889)	(4,011,986)
Miscellaneous borrowings		(10,500)
Federal Home Loan Bank advances	(66,118)	(68,967)
Mortgage banking derivative	(2)	(111)
Interest rate swap derivative	(14,329)	(21,794)
Standby letters of credit	(272)	(686)
Accrued interest payable	(2,619)	(5,959)
Level 1 \| Estimated Fair Value
Financial Assets:
Cash and cash equivalents	681,286	247,228
Securities available-for-sale	900	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	(4,905,889)	(4,011,986)
Miscellaneous borrowings		0
Federal Home Loan Bank advances	0	0
Mortgage banking derivative	0	0
Interest rate swap derivative	0	0
Standby letters of credit	0	0
Accrued interest payable	(84)	(66)
Level 2 \| Estimated Fair Value
Financial Assets:
Cash and cash equivalents	1,954	2,699
Securities available-for-sale	1,395,615	734,705
Real estate mortgages held-for-sale	7,634	11,651
Loans, net	0	0
Mortgage banking derivative	398	1,182
Interest rate swap derivative	14,309	21,764
Accrued interest receivable	7,689	3,801
Financial Liabilities:
Certificates of deposit	(833,617)	(1,033,095)
All other deposits	0	0
Miscellaneous borrowings		(10,500)
Federal Home Loan Bank advances	(66,118)	(68,967)
Mortgage banking derivative	(2)	(111)
Interest rate swap derivative	(14,329)	(21,794)
Standby letters of credit	0	0
Accrued interest payable	(2,535)	(5,893)
Level 3 \| Estimated Fair Value
Financial Assets:
Cash and cash equivalents	0	0
Securities available-for-sale	2,043	140
Real estate mortgages held-for-sale	0	0
Loans, net	4,144,000	4,532,639
Mortgage banking derivative	0	0
Interest rate swap derivative	0	0
Accrued interest receivable	9,985	14,960
Financial Liabilities:
Certificates of deposit	0	0
All other deposits	0	0
Miscellaneous borrowings		0
Federal Home Loan Bank advances	0	0
Mortgage banking derivative	0	0
Interest rate swap derivative	0	0
Standby letters of credit	(272)	(686)
Accrued interest payable	$ 0	$ 0

LAND, PREMISES AND EQUIPMENT, NET (Summary of Land, Premises And Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Land	$ 12,472	$ 12,472
Premises and improvements	58,716	55,682
Equipment and furniture	39,278	38,133
Total cost	110,466	106,287
Less accumulated depreciation	51,157	46,989
Less accumulated depreciation	$ 59,309	$ 59,298

LAND, PREMISES AND EQUIPMENT, NET (Additional Information) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Disposal Group, Held-for-sale, Not Discontinued Operations
Land, premises and equipment held for sale	$ 0.0	$ 0.1

GOODWILL AND OTHER INTANGIBLE ASSETS - Additional Information (Details) $ in Millions	Dec. 31, 2021 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying amount of goodwill	$ 5.0

DEPOSITS - Summary of Certain Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Non-interest bearing demand deposits	$ 1,895,481	$ 1,538,331
Savings and transaction accounts:
Savings deposits	409,343	312,702
Interest bearing demand deposits	3,839,926	3,498,474
Time deposits:
Other time deposits	202,395	239,582
Deposits of $100,000 to $250,000	227,606	271,337
Deposits of $250,000 or more	399,517	513,900
Total deposits	5,735,407	5,036,805
Interest bearing demand deposits
Savings and transaction accounts:
Interest bearing demand deposits	$ 2,601,065	$ 2,160,953

DEPOSITS - Scheduled Maturities of Time Deposits (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Deposits [Abstract]
2022	$ 591,740
2023	174,035
2024	37,600
2025	13,704
2026	12,091
Thereafter	348
Total time deposits	$ 829,518

DEPOSITS - Additional information (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Deposits [Abstract]
Total amount available to the bank	$ 100.0	$ 100.0
Total amount drawn	$ 10.0	$ 10.0

BORROWINGS - Short-Term Borrowings (Details) - Federal Home Loan Bank of Indianapolis Putable Advance, 0.39%, Due March 4, 2030 - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Federal Home Loan Bank of Indianapolis Putable Advance, 0.39%, Due March 4, 2030	$ 75,000	$ 75,000
Interest rate	0.39%

BORROWINGS - Additional Information (Details)	Dec. 31, 2021 USD ($) bank	Dec. 31, 2020 USD ($) bank	Aug. 02, 2019 USD ($)
Debt Instrument [Line Items]
Residential real estate loans and securities pledged as collateral for FHLB advances, carrying value	$ 478,400,000	$ 611,200,000
FHLB stock	10,400,000	10,400,000
FHLB borrowing capacity, authorized	800,000,000.0
Current borrowing capacity	227,800,000
Commercial loans pledged as collateral for federal reserve discount window	804,400,000	557,200,000
Federal reserve borrowing capacity	616,500,000	490,400,000
Remaining borrowing capacity	$ 350,000,000.0	$ 350,000,000.0
Number of banks \| bank	11	11
Outstanding borrowings	$ 0	$ 10,500,000
American Financial Exchange
Debt Instrument [Line Items]
Remaining borrowing capacity	319,000,000.0	394,000,000.0
Outstanding borrowings	0	0
Unsecured revolving credit agreement
Debt Instrument [Line Items]
Borrowing capacity			$ 30,000,000.0
Outstanding borrowings	$ 0	$ 10,500,000

SUBORDINATED DEBENTURES - Additional Information (Details) - USD ($)		9 Months Ended	12 Months Ended
	Dec. 31, 2019	Oct. 01, 2003	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Subordinated Debentures Disclosure [Abstract]
Floating rate trust preferred securities issued		$ 30,000,000.0
Subordinated debentures issued		$ 30,900,000
Integral multiple subordinated debentures may be redeemed in			$ 1,000
Percentage of principal amount subordinated debentures may be redeemed at	100.00%		100.00%		100.00%
Trust preferred securities redeemed	$ 30,000,000.0
Payments for redemption of common securities			$ 559,000	$ 10,547,000	$ 515,000
Redemption price as a percentage of principal	100.00%
Redemption price as a percentage of aggregate liquidation amount	100.00%
Payments for Repurchase of Common Stock			$ 559,000	$ 10,547,000	$ 515,000
Trust Common Securities
Subordinated Debentures Disclosure [Abstract]
Payments for redemption of common securities	$ 928,000
Payments for Repurchase of Common Stock	$ 928,000

PENSION AND OTHER POSTRETIREMENT PLANS (Components of net periodic benefit cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Change in benefit obligation:
Beginning benefit obligation	$ 2,710	$ 2,715
Interest cost	52	75	$ 87
Actuarial (gain) loss	(153)	276
Benefits paid	(311)	(356)
Ending benefit obligation	2,298	2,710	2,715
Change in plan assets (primarily equity and fixed income investments and money market funds), at fair value:
Beginning plan assets	2,349	2,472
Actual return	265	233
Employer contribution	0	0
Benefits paid	(311)	(356)
Ending plan assets	2,303	2,349	2,472
Funded status at end of year	5	(361)
SERP Benefits
Change in benefit obligation:
Beginning benefit obligation	968	991
Interest cost	18	27	37
Actuarial (gain) loss	13	84
Benefits paid	(132)	(134)
Ending benefit obligation	867	968	991
Change in plan assets (primarily equity and fixed income investments and money market funds), at fair value:
Beginning plan assets	879	914
Actual return	101	99
Employer contribution	0	0
Benefits paid	(132)	(134)
Ending plan assets	848	879	$ 914
Funded status at end of year	$ (19)	$ (89)

PENSION AND OTHER POSTRETIREMENT PLANS (Schedule of Amounts Recognized in Balance Sheet) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Funded status included in other liabilities	$ 5	$ 361
SERP Benefits
Defined Benefit Plan Disclosure [Line Items]
Funded status included in other liabilities	$ 19	$ 89

PENSION AND OTHER POSTRETIREMENT PLANS (Amounts Recognized in Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ (475)	$ (110)	$ 153
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	852	1,362
SERP Benefits
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ 431	$ 553

PENSION AND OTHER POSTRETIREMENT PLANS - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
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	$ 2,300	$ 2,700
Weighted Average Expected Long-Term Rate of Return	6.50%	6.50%	6.50%
Expected amortization next fiscal year	$ 99
Pension Benefits \| Other
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Expected Long-Term Rate of Return	0.10%
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	$ 900	$ 1,000
Weighted Average Expected Long-Term Rate of Return	6.50%	6.50%	6.50%
Expected amortization next fiscal year	$ 44
SERP Benefits \| Other
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Expected Long-Term Rate of Return	0.10%
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%

PENSION AND OTHER POSTRETIREMENT PLANS - Components of net periodic benefit cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net pension expense:
Net (gain) loss	$ (390)	$ 105	$ 409
Pension Benefits
Net pension expense:
Service cost	0	0	0
Interest cost	52	75	87
Expected return on plan assets	(133)	(140)	(137)
Recognized net actuarial (gain) loss	160	171	132
Settlement cost	65	115	0
Net pension expense	144	221	82
Net (gain) loss	(350)	69	353
Amortization of net loss	(160)	(171)	(132)
Total recognized in other comprehensive income (loss)	(510)	(102)	221
Total recognized in net pension expense and other comprehensive income (loss)	(366)	119	303
SERP Benefits
Net pension expense:
Service cost	0	0	0
Interest cost	18	27	37
Expected return on plan assets	(47)	(51)	(55)
Recognized net actuarial (gain) loss	82	80	73
Settlement cost	0	0	0
Net pension expense	53	56	55
Net (gain) loss	(40)	36	56
Amortization of net loss	(82)	(80)	(73)
Total recognized in other comprehensive income (loss)	(122)	(44)	(17)
Total recognized in net pension expense and other comprehensive income (loss)	$ (69)	$ 12	$ 38

PENSION AND OTHER POSTRETIREMENT PLANS (Schedule of Assumptions Used in Calculating the Net Benefit Obligation) (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Weighted average discount rate	2.49%	2.08%	2.98%
Rate of increase in future compensation, lump sum assumed interest rates first 5 years	0.87%	0.53%	2.01%
Rate of increase in future compensation, lump sum assumed interest rates next 15 years	2.74%	2.31%	3.06%
Rate of increase in future compensation, lump sum assumed interest rates all future years	3.16%	3.09%	3.65%
Weighted average discount rate	2.08%	2.98%	4.08%
Expected long-term rate of return	6.50%	6.50%	6.50%
SERP Benefits
Defined Benefit Plan Disclosure [Line Items]
Weighted average discount rate	2.49%	2.08%	2.98%
Weighted average discount rate	2.08%	2.98%	4.08%
Expected long-term rate of return	6.50%	6.50%	6.50%

PENSION AND OTHER POSTRETIREMENT PLANS (Schedule of Allocation of Plan Assets) (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
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	61.00%	65.00%
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	37.00%	31.00%
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	2.00%	4.00%
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	59.00%	64.00%
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	36.00%	34.00%
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	5.00%	2.00%
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%

PENSION AND OTHER POSTRETIREMENT PLANS (Schedule of Expected Benefit Payments) (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Pension Benefits
2022	$ 193
2023	209
2024	182
2025	190
2026	191
2027-2031	703
SERP Benefits
2022	130
2023	123
2024	115
2025	105
2026	94
2027-2031	$ 294

OTHER BENEFIT PLANS (Additional Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
401(K) Plan
Summary of Other Benefit Plan [Line Items]
Maximum employee contributions	6.00%
Plan expense	$ 2,300	$ 1,900	$ 1,800
Lake City Bank Deferred Compensation Plan
Summary of Other Benefit Plan [Line Items]
Plan expense	1,200	1,000	461
Deferred compensation liability	7,000	5,700
Executive
Summary of Other Benefit Plan [Line Items]
Potential cash payment under employment agreements	5,300
Director
Summary of Other Benefit Plan [Line Items]
Deferred compensation liability	5,200	4,800
Compensation expense	$ 482	$ 505	$ 515

INCOME TAXES - Summary of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Current federal									$ 21,329	$ 20,032	$ 19,430
Deferred federal									(1,249)	(1,688)	(408)
Current state									1,892	1,484	1,394
Deferred state									(261)	(289)	(78)
Total income tax expense	$ 5,507	$ 5,469	$ 5,705	$ 5,030	$ 6,071	$ 5,377	$ 4,448	$ 3,643	$ 21,711	$ 19,539	$ 20,338

- Definition

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

+ References + Details

INCOME TAXES - Computation of Differences Between Financial Statement Tax Expense And Amounts (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income taxes at statutory federal rate of 21%									$ 24,663	$ 21,814	$ 22,551
Increase (decrease) in taxes resulting from:
Tax exempt income									(2,822)	(1,925)	(1,682)
Nondeductible expense									116	117	194
State income tax, net of federal tax effect									1,288	944	1,040
Captive insurance premium income									(303)	(227)	(310)
Tax credits									(578)	(540)	(548)
Bank owned life insurance									(596)	(595)	(573)
Long-term incentive plan									(274)	(58)	(421)
Nondeductible compensation expense									156	0	0
Other									61	9	87
Total income tax expense	$ 5,507	$ 5,469	$ 5,705	$ 5,030	$ 6,071	$ 5,377	$ 4,448	$ 3,643	$ 21,711	$ 19,539	$ 20,338

INCOME TAXES - Summary of Net Deferred Tax Asset And Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Bad debts	$ 17,321	$ 15,634
Pension and deferred compensation liability	2,351	2,006
Nonaccrual loan interest	600	892
Long-term incentive plan	1,896	1,212
Lease liability	1,078	1,190
Deferred loan fees	771	0
Other	191	745
Deferred tax asset	24,208	21,679
Deferred tax liabilities:
Depreciation	4,279	4,718
Loan servicing rights	717	1,162
State taxes	679	524
Intangible assets	1,270	1,265
REIT spillover dividend	1,180	1,180
Prepaid expenses	952	948
Lease right of use	1,078	1,190
Other	194	442
Deferred tax liability	10,349	11,429
Valuation allowance	0	0
Net deferred tax asset	$ 13,859	$ 10,250

INCOME TAXES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Statutory percentage rate of provision	21.00%
Deferred income tax asset (liability) allocated to unrealized net gain (loss) on securities available-for-sale	$ (4,500,000)	$ (7,800,000)
Deferred income tax asset allocated to pension plan and SERP	319,000	476,000
Unrecognized Tax Benefits	0	0
Interest and penalties related to unrecognized tax benefits	$ 0	$ 0	$ 0

RELATED PARTY TRANSACTIONS (Summary of Loans To Related Party) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Loans and Leases Receivable, Related Parties [Roll Forward]
Beginning balance	$ 104,694	$ 83,980
New loans and advances	74,115	120,049
Effect of changes in related parties	(62)	1,650
Repayments and renewals	(78,882)	(100,985)
Ending balance	$ 99,865	$ 104,694

RELATED PARTY TRANSACTIONS (Additional Information) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Related Party Transactions [Abstract]
Deposits from principal officers, directors and affiliates	$ 30.2	$ 36.8

- Definition

Carrying amount as of the balance sheet date of obligations due all related parties.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.17)
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.15(3),(4))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

+ Details

STOCK BASED COMPENSATION - Summary Of Changes In Company's Nonvested Shares (Details)	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Restricted Stock
Shares
Beginning balance (in shares) \| shares	5,000
Granted (in shares) \| shares	14,950
Vested (in shares) \| shares	(18,450)
Ending balance (in shares) \| shares	1,500
Weighted-Average Grant-Date Fair Value
Beginning balance (in USD per share) \| $ / shares	$ 45.22
Granted (in USD per share) \| $ / shares	59.26
Vested (in USD per share) \| $ / shares	56.69
Ending balance (in USD per share) \| $ / shares	$ 44.10
Performance Stock Units
Shares
Beginning balance (in shares) \| shares	157,515
Granted (in shares) \| shares	212,475
Vested (in shares) \| shares	(83,216)
Forfeited (in shares) \| shares	(15,004)
Ending balance (in shares) \| shares	271,770
Weighted-Average Grant-Date Fair Value
Beginning balance (in USD per share) \| $ / shares	$ 44.85
Granted (in USD per share) \| $ / shares	51.59
Vested (in USD per share) \| $ / shares	45.64
Forfeited (in USD per share) \| $ / shares	45.72
Ending balance (in USD per share) \| $ / shares	$ 49.83

STOCK BASED COMPENSATION - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	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)	454,308
Employee stock compensation	$ 7,200,000	$ 1,800,000	$ 4,200,000
Employee stock compensation, tax benefit	$ 1,800,000	$ 500,000	$ 1,100,000
Options granted (in shares)	0	0	0
Modifications of options (in shares)	0
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
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested (in shares)	18,450
Unrecognized compensation cost related to non-vested shares	$ 0
Fair value of shares vested	$ 1,100,000	$ 700,000	$ 700,000
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested (in shares)	83,216	120,204	126,672
Fair value of shares vested	$ 5,200,000	$ 5,700,000	$ 5,700,000
Unrecognized compensation cost related to options	$ 6,400,000
Unrecognized compensation cost, period for recognition	1 year 9 months 7 days
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award term	10 years
Award vesting period	3 years

CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS - Summary Of Capital Adequacy Requirements (Details) $ in Thousands	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital (to Risk Weighted Assets), Actual Amount	$ 726,091	$ 678,034
Total Capital (to Risk Weighted Assets), Actual Ratio	15.01	14.56
Tier I Capital (to Risk Weighted Assets), Actual Amount	$ 665,424	$ 619,693
Tier I Capital (to Risk Weighted Assets), Actual Ratio	13.75	13.31
Common Equity Tier 1 (CET1), Actual Amount	$ 665,424	$ 619,693
Common Equity Tier 1 (CET1), Actual Ratio	1375.00%	1331.00%
Tier I Capital (to Average Assets), Actual Amount	$ 665,424	$ 619,693
Tier I Capital (to Average Assets), Actual Ratio	10.46	10.88
Total Capital (to Risk Weighted Assets), Minimum Required For Capital Adequacy Purposes Amount	$ 387,118	$ 372,560
Total Capital (to Risk Weighted Assets), Minimum Required For Capital Adequacy Purposes Ratio	8.00	8.00
Tier I Capital (to Risk Weighted Assets), Minimum Required For Capital Adequacy Purposes Amount	$ 290,339	$ 279,420
Tier I Capital (to Risk Weighted Assets), Minimum Required For Capital Adequacy Purposes Ratio	6.00	6.00
Common Equity Tier 1 (CET1), Minimum Required For Capital Adequacy Purposes Amount	$ 217,754	$ 209,565
Common Equity Tier 1 (CET1), Minimum Required For Capital Adequacy Purposes Ratio	450.00%	450.00%
Tier I Capital (to Average Assets), Minimum Required For Capital Adequacy Purposes Amount	$ 254,425	$ 227,900
Tier I Capital (to Average Assets), Minimum Required For Capital Adequacy Purposes Ratio	4.00	4.00
Excess Capital, For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	$ 508,093	$ 488,985
Excess Capital to Risk Weighted Assets, For Capital Adequacy Purposes Plus Capital Conservation Buffer Ratio	10.50	10.50
Tier I Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	$ 411,313	$ 395,845
Tier I Capital (to Risk Weighted Assets), For Capital Adequacy Purposes Plus Capital Conservation Buffer Ratio	8.50	8.50
Common Equity Tier 1 (CET1), For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	$ 338,729	$ 325,990
Common Equity Tier 1 (CET1), For Capital Adequacy Purposes Plus Capital Conservation Buffer Ratio	700.00%	700.00%
Tier I Capital (to Average Assets), For Capital Adequacy Purposes Plus Capital Conservation Buffer Amount	$ 254,425	$ 227,900
Tier I Capital (to Average Assets), For Capital Adequacy Purposes Plus Capital Conservation Buffer Ratio	4.00	4.00
Total Capital (to Risk Weighted Assets), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 483,898	$ 465,700
Total Capital (to Risk Weighted Assets), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Ratio	10.00	10.00
Tier I Capital (to Risk Weighted Assets), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 387,118	$ 372,560
Tier I Capital (to Risk Weighted Assets), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Ratio	8.00	8.00
Common Equity Tier 1 (CET1), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 314,534	$ 302,705
Common Equity Tier 1 (CET1), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Ratio	650.00%	650.00%
Tier I Capital (to Average Assets), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 318,030	$ 284,875
Tier I Capital (to Average Assets), Minimum Required to Be Well Capitalized Under Prompt Corrective Action Regulations Ratio	5.00	5.00

CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Capital Requirements and Restrictions On Retained Earnings [Abstract]
Amount available for dividends	$ 106.9
Description of regulatory requirements, capital adequacy purposes	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 2021 and 2020 was 2.50%. The net unrealized gain or loss on available-for-sale securities is not included in computing regulatory capital.

OFFSETTING ASSETS AND LIABILITIES - Schedule of Offsetting of Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets
Gross Amounts of Recognized Assets/ Liabilities	$ 14,309	$ 21,764
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts presented in the Statement of Financial Position	14,309	21,764
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	(2,255)	0
Net Amount	12,054	21,764
Liabilities
Gross Amounts of Recognized Assets/ Liabilities	14,329	21,794
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts presented in the Statement of Financial Position	14,329	21,794
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	(7,995)	(21,370)
Net Amount	6,334	424
Interest Rate Swap
Assets
Gross Amounts of Recognized Assets/ Liabilities	14,309	21,764
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts presented in the Statement of Financial Position	14,309	21,764
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	(2,255)	0
Net Amount	12,054	21,764
Liabilities
Gross Amounts of Recognized Assets/ Liabilities	14,329	21,794
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts presented in the Statement of Financial Position	14,329	21,794
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	(7,995)	(21,370)
Net Amount	$ 6,334	$ 424

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, 2021	Dec. 31, 2020
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	$ 90,100	$ 65,319
Variable Rate	2,252,895	1,994,755
Total commercial loans
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	79,792	52,568
Variable Rate	1,850,719	1,646,539
Standby letters of credit
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	0	0
Variable Rate	55,336	53,796
Real estate mortgage loans
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	7,906	11,984
Variable Rate	14,216	3,921
Real estate construction mortgage loans
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	2,402	767
Variable Rate	3,213	3,051
Home equity mortgage open-ended revolving lines
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	0	0
Variable Rate	306,124	267,530
Total consumer loans
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	0	0
Variable Rate	$ 23,287	$ 19,918

COMMITMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES - Interest Rate Ranges On Commitments And Open Ended Revolving Lines Of Credit (Details)	Dec. 31, 2021	Dec. 31, 2020
Total commercial loans \| Minimum
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	1.99%	1.00%
Variable Rate	1.11%	1.16%
Total commercial loans \| Maximum
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	14.50%	14.50%
Variable Rate	10.00%	9.25%
Real estate mortgage loans \| Minimum
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	2.50%	2.63%
Variable Rate	3.00%	3.00%
Real estate mortgage loans \| Maximum
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Fixed Rate	3.75%	3.75%
Variable Rate	8.25%	5.75%
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	3.25%	3.00%
Total consumer loans \| Maximum
Commitments Off-Balance Sheet Risks and Contingencies [Line Items]
Variable Rate	15.00%	15.00%

PARENT COMPANY STATEMENTS - CONDENSED BALANCE SHEETS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Other assets	$ 54,610	$ 54,669
Total assets	6,557,323	5,830,435
LIABILITIES
STOCKHOLDERS’ EQUITY	704,817	657,095
Total liabilities and equity	6,557,323	5,830,435
Parent Company \| Reportable Legal Entities
ASSETS
Deposits with Lake City Bank	834	568
Deposits with other depository institutions	2,459	2,433
Cash	3,293	3,001
Investments in banking subsidiary	686,487	652,407
Investments in other subsidiaries	3,468	3,043
Other assets	11,830	9,455
Total assets	705,078	667,906
LIABILITIES
Dividends payable and other liabilities	261	311
Borrowings	0	10,500
STOCKHOLDERS’ EQUITY	704,817	657,095
Total liabilities and equity	$ 705,078	$ 667,906

PARENT COMPANY STATEMENTS - CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Other income									$ 2,725	$ 3,564	$ 2,857
Interest expense	$ (3,315)	$ (3,554)	$ (3,964)	$ (4,298)	$ (5,141)	$ (6,066)	$ (7,303)	$ (11,585)	(15,131)	(30,095)	(60,163)
Income tax benefit	(5,507)	(5,469)	(5,705)	(5,030)	(6,071)	(5,377)	(4,448)	(3,643)	(21,711)	(19,539)	(20,338)
NET INCOME	$ 24,283	$ 24,119	$ 24,348	$ 22,983	$ 24,592	$ 22,776	$ 19,670	$ 17,299	95,733	84,337	87,047
COMPREHENSIVE INCOME									84,082	100,022	105,297
Reportable Legal Entities \| Parent Company
Condensed Financial Statements, Captions [Line Items]
Other income									3	0	155
Interest expense									(7)	0	(1,720)
Miscellaneous expense									(8,133)	(3,935)	(5,321)
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES									40,253	29,444	52,258
Income tax benefit									2,360	1,065	2,256
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES									42,613	30,509	54,514
Equity in undistributed income of subsidiaries									53,120	53,828	32,533
NET INCOME									95,733	84,337	87,047
COMPREHENSIVE INCOME									84,082	100,022	105,297
Reportable Legal Entities \| Parent Company \| Lake City Bank
Condensed Financial Statements, Captions [Line Items]
Dividends from Lake City Bank, Lakeland Statutory Trust II									47,355	32,079	57,842
Reportable Legal Entities \| Parent Company \| Non-bank Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Dividends from Lake City Bank, Lakeland Statutory Trust II									$ 1,035	$ 1,300	$ 1,302

PARENT COMPANY STATEMENTS - CONDENSED STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 24,283	$ 24,119	$ 24,348	$ 22,983	$ 24,592	$ 22,776	$ 19,670	$ 17,299	$ 95,733	$ 84,337	$ 87,047
Adjustments to net cash from operating activities:
Net cash from operating activities									113,768	87,228	100,039
Cash flows from financing activities:
Repayment of long-term debt									0		(30,928)
Proceeds from (payments on) short-term borrowings										(10,500)	0
Purchase of treasury stock									(559)	(10,547)	(515)
Sales of treasury stock									115	119	118
Net cash from financing activities									651,091	775,342	(48,887)
Net change in cash and cash equivalents									433,313	150,546	(117,541)
Beginning balance				249,927				99,381	249,927	99,381	216,922
Ending balance	683,240				249,927				683,240	249,927	99,381
Reportable Legal Entities \| Parent Company
Cash flows from operating activities:
Net income									95,733	84,337	87,047
Adjustments to net cash from operating activities:
Equity in undistributed income of subsidiaries									(53,120)	(53,828)	(32,533)
Other changes									5,177	1,257	3,529
Net cash from operating activities									47,790	31,766	58,043
Cash flows from financing activities:
Repayment of long-term debt										0
Proceeds from (payments on) short-term borrowings									(10,500)
Payments related to equity incentive plans									(1,914)	(2,137)	(2,109)
Purchase of treasury stock									(559)	(10,547)	(515)
Sales of treasury stock									115	119	118
Dividends paid									(34,640)	(30,566)	(29,639)
Net cash from financing activities									(47,498)	(32,631)	(63,073)
Net change in cash and cash equivalents									292	(865)	(5,030)
Beginning balance				$ 3,001				$ 3,866	3,001	3,866	8,896
Ending balance	$ 3,293				$ 3,001				$ 3,293	$ 3,001	$ 3,866

EARNINGS PER SHARE - Earnings Per Share Computations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net income	$ 24,283	$ 24,119	$ 24,348	$ 22,983	$ 24,592	$ 22,776	$ 19,670	$ 17,299	$ 95,733	$ 84,337	$ 87,047
Weighted-average common shares outstanding (in shares)									25,475,994	25,469,242	25,588,404
Basic earnings per common share (in USD per share)	$ 0.95	$ 0.95	$ 0.96	$ 0.90	$ 0.97	$ 0.89	$ 0.77	$ 0.68	$ 3.76	$ 3.31	$ 3.40
Diluted earnings per common share:
Net income	$ 24,283	$ 24,119	$ 24,348	$ 22,983	$ 24,592	$ 22,776	$ 19,670	$ 17,299	$ 95,733	$ 84,337	$ 87,047
Add: Dilutive effect of assumed exercises of stock options and awards (in shares)									144,111	104,699	170,489
Weighted Average Number of Shares Outstanding, Diluted, Total									25,620,105	25,573,941	25,758,893
Diluted earnings per common share (in USD per share)	$ 0.95	$ 0.94	$ 0.95	$ 0.90	$ 0.97	$ 0.89	$ 0.77	$ 0.67	$ 3.74	$ 3.30	$ 3.38
Number of antidilutive stock options									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.

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- 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.

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

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	$ 657,184	$ 598,100	$ 521,704
Other comprehensive income (loss) before reclassification	(11,203)	15,839
Amounts reclassified from accumulated other comprehensive income (loss)	(448)	(154)
Net current period other comprehensive income (loss)	(11,651)	15,685	18,250
Balance	704,906	657,184	598,100
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	27,744	12,059
Balance	16,093	27,744	12,059
Unrealized Gains and (Losses) on Available-for-Sales Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	29,182	13,607
Other comprehensive income (loss) before reclassification	(11,496)	15,917
Amounts reclassified from accumulated other comprehensive income (loss)	(630)	(342)
Net current period other comprehensive income (loss)	(12,126)	15,575
Balance	17,056	29,182	13,607
Defined Benefit Pension Items
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	(1,438)	(1,548)
Other comprehensive income (loss) before reclassification	293	(78)
Amounts reclassified from accumulated other comprehensive income (loss)	182	188
Net current period other comprehensive income (loss)	475	110
Balance	$ (963)	$ (1,438)	$ (1,548)

- Definition

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

+ References

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+ Details

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

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+ Details

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net securities gains									$ 797	$ 433	$ 142
Other expense									8,905	8,197	9,806
Income tax expense	$ 5,507	$ 5,469	$ 5,705	$ 5,030	$ 6,071	$ 5,377	$ 4,448	$ 3,643	21,711	19,539	20,338
NET INCOME	$ 24,283	$ 24,119	$ 24,348	$ 22,983	$ 24,592	$ 22,776	$ 19,670	$ 17,299	95,733	84,337	87,047
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
NET INCOME									448	154	(41)
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]
Net securities gains									797	433	142
Income tax expense									(167)	(91)	(30)
NET INCOME									630	342	112
Reclassification out of Accumulated Other Comprehensive Income \| Defined Benefit Pension Items
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense									(242)	(251)	(205)
Income tax expense									60	63	52
NET INCOME									$ (182)	$ (188)	$ (153)

- 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

+ Details

SELECTED QUARTERLY DATA (UNAUDITED) (Summary Of Selected Quarterly Data) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Selected Quarterly Financial Information [Abstract]
Interest income	$ 48,322	$ 49,295	$ 47,625	$ 47,977	$ 49,854	$ 45,979	$ 46,831	$ 50,439	$ 193,219	$ 193,103	$ 215,210
Interest expense	3,315	3,554	3,964	4,298	5,141	6,066	7,303	11,585	15,131	30,095	60,163
NET INTEREST INCOME	45,007	45,741	43,661	43,679	44,713	39,913	39,528	38,854	178,088	163,008	155,047
Provision for credit losses	0	1,300	(1,700)	1,477	920	1,750	5,500	6,600	1,077	14,770	3,235
CREDIT LOSSES	45,007	44,441	45,361	42,202	43,793	38,163	34,028	32,254	177,011	148,238	151,812
Noninterest income	9,709	11,114	11,340	12,557	11,782	13,115	11,169	10,777
Noninterest expense	24,926	25,967	26,648	26,746	24,912	23,125	21,079	22,089	104,287	91,205	89,424
Income tax expense	5,507	5,469	5,705	5,030	6,071	5,377	4,448	3,643	21,711	19,539	20,338
NET INCOME	$ 24,283	$ 24,119	$ 24,348	$ 22,983	$ 24,592	$ 22,776	$ 19,670	$ 17,299	$ 95,733	$ 84,337	$ 87,047
Basic earnings per common share (in USD per share)	$ 0.95	$ 0.95	$ 0.96	$ 0.90	$ 0.97	$ 0.89	$ 0.77	$ 0.68	$ 3.76	$ 3.31	$ 3.40
Diluted earnings per common share (in USD per share)	$ 0.95	$ 0.94	$ 0.95	$ 0.90	$ 0.97	$ 0.89	$ 0.77	$ 0.67	$ 3.74	$ 3.30	$ 3.38

WARRANT (Details) - USD ($)				12 Months Ended
WARRANT (Details) - USD ($)	Feb. 04, 2019	Nov. 18, 2009	Feb. 27, 2009	Dec. 31, 2018	Feb. 08, 2019
Summary of Warrants [Line Items]
Number of shares to be purchased by warrant (in shares)			396,538
Purchase price of equity			$ 56,044,000
Expected term			10 years
Exercise price (in USD per share)			$ 21.20
Share price (in USD per share)			17.45
Warrant exercise price (in USD per share)			$ 21.20	$ 13.3503
Risk free interest rate			3.02%
Warrant expected life			10 years
Expected dividend rate			4.5759%
Volatility of common stock			41.8046%
Fair value of warrants (in USD per share)	$ 45.74		$ 4.4433
Adjustments to shares issuable upon exercise of warrants (in shares)		198,269
Shares issuable upon exercise of warrants (in shares)				314,846
Cost to exercise warrant	$ 4,200,000
Number of shares of common stock for warrants (in shares)	$ 91,894
Number of shares warrant holder is entitled too (in shares)	315,961				224,066
Series A Preferred Stock
Summary of Warrants [Line Items]
Warrants issued (in shares)			56,044

LEASES - Maturity Analysis (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2022	$ 595
2023	606
2024	622
2025	640
2026	617
2027 and thereafter	1,616
Total undiscounted lease payments	4,696
Less imputed interest	(478)
Lease liability	4,218
Right-of-use asset	$ 4,218
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other liabilities
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	us-gaap:OtherAssets

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Lease Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 536	$ 536	$ 498
Short-term lease cost	24	24	24
Total lease cost	$ 560	$ 560	$ 522

LEASES - Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating cash outflows from operating leases	$ 536	$ 536	$ 498
Weighted-average remaining lease term - operating leases	7 years 10 months 24 days	8 years 9 months 18 days	9 years 9 months 18 days
Weighted average discount rate - operating leases	2.80%	2.80%	2.80%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Impact of Adoption of the ASU (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326	$ 67,773		$ 61,408	$ 50,652	$ 48,453
Commercial and Industrial
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326			28,333
Commercial Real Estate and Multi-family Residential
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326			22,907
Agri-business and Agricultural
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326			3,043
Consumer 1-4 Family Mortgage
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326			2,619
Unallocated
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326	$ 450		3,139	$ 2,320	$ 3,294
Pre-ASC 326 Adoption \| ASU 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Pre-ASC 326 Adoption		$ 61,408
Pre-ASC 326 Adoption \| Commercial and Industrial \| ASU 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Pre-ASC 326 Adoption		28,333
Pre-ASC 326 Adoption \| Commercial Real Estate and Multi-family Residential \| ASU 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Pre-ASC 326 Adoption		22,907
Pre-ASC 326 Adoption \| Agri-business and Agricultural \| ASU 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Pre-ASC 326 Adoption		3,043
Pre-ASC 326 Adoption \| Other commercial loans \| ASU 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Pre-ASC 326 Adoption		416
Pre-ASC 326 Adoption \| Consumer 1-4 Family Mortgage \| ASU 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Pre-ASC 326 Adoption		2,619
Pre-ASC 326 Adoption \| Other consumer loans \| ASU 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Pre-ASC 326 Adoption		951
Pre-ASC 326 Adoption \| Unallocated \| ASU 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Pre-ASC 326 Adoption		3,139
As Reported Under ASC 326 \| As Reported Under ASC 326
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		70,458
As Reported Under ASC 326 \| As Reported Under ASC 326 \| Commercial and Industrial
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		32,645
As Reported Under ASC 326 \| As Reported Under ASC 326 \| Commercial Real Estate and Multi-family Residential
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		27,223
As Reported Under ASC 326 \| As Reported Under ASC 326 \| Agri-business and Agricultural
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		4,103
As Reported Under ASC 326 \| As Reported Under ASC 326 \| Other commercial loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		1,357
As Reported Under ASC 326 \| As Reported Under ASC 326 \| Consumer 1-4 Family Mortgage
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		3,572
As Reported Under ASC 326 \| As Reported Under ASC 326 \| Other consumer loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		1,300
As Reported Under ASC 326 \| As Reported Under ASC 326 \| Unallocated
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		258
Impact of ASC 326 Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		9,050	9,050
Impact of ASC 326 Adoption \| ASU 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		9,100
Impact of ASC 326 Adoption \| Commercial and Industrial
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		4,312
Impact of ASC 326 Adoption \| Commercial Real Estate and Multi-family Residential
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		4,316
Impact of ASC 326 Adoption \| Agri-business and Agricultural
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		1,060
Impact of ASC 326 Adoption \| Other commercial loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		941
Impact of ASC 326 Adoption \| Consumer 1-4 Family Mortgage
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		953
Impact of ASC 326 Adoption \| Other consumer loans
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		349
Impact of ASC 326 Adoption \| Unallocated
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance after adoption of ASC 326		$ (2,881)	$ (2,881)

ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY - Aging Of The Recorded Investment In Past Due Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	$ 4,287,841
Total Nonaccrual	14,973	$ 13,369
Nonaccrual With No Allowance For Credit Loss	7,711	4,649,156
Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	4,286,997	4,635,787
30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	727	1,267
Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing	117	116
Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	4,272,868	11,986
Commercial and Industrial \| Working capital lines of credit loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	652,927
Total Nonaccrual	5,966	606
Nonaccrual With No Allowance For Credit Loss	5,200	626,099
Commercial and Industrial \| Working capital lines of credit loans \| Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	652,903	625,493
Commercial and Industrial \| Working capital lines of credit loans \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	24	0
Commercial and Industrial \| Working capital lines of credit loans \| Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing	0	0
Commercial and Industrial \| Working capital lines of credit loans \| Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	646,961	606
Commercial and Industrial \| Non-working capital loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	735,659
Total Nonaccrual	4,596	5,287
Nonaccrual With No Allowance For Credit Loss	229	1,158,827
Commercial and Industrial \| Non-working capital loans \| Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	735,658	1,153,540
Commercial and Industrial \| Non-working capital loans \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	1	0
Commercial and Industrial \| Non-working capital loans \| Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing	0	0
Commercial and Industrial \| Non-working capital loans \| Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	731,063	5,287
Commercial Real Estate and Multi-family Residential \| Construction and land development loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	378,030
Total Nonaccrual	0	0
Nonaccrual With No Allowance For Credit Loss	0	361,664
Commercial Real Estate and Multi-family Residential \| Construction and land development loans \| Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	378,030	361,664
Commercial Real Estate and Multi-family Residential \| Construction and land development loans \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Commercial Real Estate and Multi-family Residential \| Construction and land development loans \| Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing	0	0
Commercial Real Estate and Multi-family Residential \| Construction and land development loans \| Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	378,030	0
Commercial Real Estate and Multi-family Residential \| Owner occupied loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	738,791
Total Nonaccrual	3,634	5,047
Nonaccrual With No Allowance For Credit Loss	2,129	647,574
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	738,791	642,527
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing	0	0
Commercial Real Estate and Multi-family Residential \| Owner occupied loans \| Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	735,157	5,047
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	588,039
Total Nonaccrual	0	0
Nonaccrual With No Allowance For Credit Loss	0	579,050
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans \| Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	588,039	579,050
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans \| Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing	0	0
Commercial Real Estate and Multi-family Residential \| Nonowner occupied loans \| Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	588,039	0
Commercial Real Estate and Multi-family Residential \| Multi-family loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	246,787
Total Nonaccrual	0	0
Nonaccrual With No Allowance For Credit Loss	0	304,284
Commercial Real Estate and Multi-family Residential \| Multi-family loans \| Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	246,787	304,284
Commercial Real Estate and Multi-family Residential \| Multi-family loans \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Commercial Real Estate and Multi-family Residential \| Multi-family loans \| Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing	0	0
Commercial Real Estate and Multi-family Residential \| Multi-family loans \| Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	246,787	0
Agri-business and Agricultural \| Loans secured by farmland
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	206,302
Total Nonaccrual	335	428
Nonaccrual With No Allowance For Credit Loss	0	195,363
Agri-business and Agricultural \| Loans secured by farmland \| Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	206,302	194,935
Agri-business and Agricultural \| Loans secured by farmland \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Agri-business and Agricultural \| Loans secured by farmland \| Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing	0	0
Agri-business and Agricultural \| Loans secured by farmland \| Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	205,967	428
Agri-business and Agricultural \| Loans for agricultural production
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	239,573
Total Nonaccrual	0	108
Nonaccrual With No Allowance For Credit Loss	0	234,299
Agri-business and Agricultural \| Loans for agricultural production \| Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	239,573	234,191
Agri-business and Agricultural \| Loans for agricultural production \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	108
Agri-business and Agricultural \| Loans for agricultural production \| Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing	0	0
Agri-business and Agricultural \| Loans for agricultural production \| Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	239,573	0
Agri-business and Agricultural \| Other commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	73,178
Total Nonaccrual	0	0
Nonaccrual With No Allowance For Credit Loss	0	93,912
Agri-business and Agricultural \| Other commercial loans \| Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	73,178	93,912
Agri-business and Agricultural \| Other commercial loans \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Agri-business and Agricultural \| Other commercial loans \| Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing	0	0
Agri-business and Agricultural \| Other commercial loans \| Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	73,178	0
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	176,295
Total Nonaccrual	55	1,606
Nonaccrual With No Allowance For Credit Loss	55	167,501
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	175,678	165,895
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	500	877
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing	117	116
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	176,240	613
Consumer 1-4 Family Mortgage \| Open end and junior lien loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	157,859
Total Nonaccrual	98	142
Nonaccrual With No Allowance For Credit Loss	98	165,236
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	157,729	165,094
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	130	137
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing	0	0
Consumer 1-4 Family Mortgage \| Open end and junior lien loans \| Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	157,761	5
Consumer 1-4 Family Mortgage \| Residential construction loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	11,857
Total Nonaccrual	0	0
Nonaccrual With No Allowance For Credit Loss	0	11,962
Consumer 1-4 Family Mortgage \| Residential construction loans \| Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	11,857	11,962
Consumer 1-4 Family Mortgage \| Residential construction loans \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	0	0
Consumer 1-4 Family Mortgage \| Residential construction loans \| Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing	0	0
Consumer 1-4 Family Mortgage \| Residential construction loans \| Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	11,857	0
Consumer 1-4 Family Mortgage \| Other consumer loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Nonaccrual		145
Nonaccrual With No Allowance For Credit Loss		103,385
Consumer 1-4 Family Mortgage \| Other consumer loans \| Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans		103,240
Consumer 1-4 Family Mortgage \| Other consumer loans \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans		145
Consumer 1-4 Family Mortgage \| Other consumer loans \| Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing		0
Consumer 1-4 Family Mortgage \| Other consumer loans \| Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans		$ 0
Consumer 1-4 Family Mortgage \| Other consumer loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	82,544
Total Nonaccrual	289
Nonaccrual With No Allowance For Credit Loss	0
Consumer 1-4 Family Mortgage \| Other consumer loans \| Loans Not Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	82,472
Consumer 1-4 Family Mortgage \| Other consumer loans \| 30-89 Days Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	72
Consumer 1-4 Family Mortgage \| Other consumer loans \| Greater than 89 Days Past Due and Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Greater than 89 Days Past Due and Accruing	0
Consumer 1-4 Family Mortgage \| Other consumer loans \| Total Accruing
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	$ 82,255

FAIR VALUE - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	$ 6,364	$ 6,765
Other real estate owned	196	0
Total assets	6,560	6,765
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	6,364	6,765
Other real estate owned	196	0
Total assets	6,560	6,765
Commercial and Industrial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	5,342	5,082
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	247	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	247	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	5,095	4,904
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	5,095	4,904
Commercial Real Estate and Multi-family Residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	791	1,211
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	791	1,211
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	791	1,211
Agri-business and agricultural
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	231	61
Agri-business and agricultural \| Loans secured by farmland
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	231	61
Agri-business and agricultural \| 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 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 secured by farmland \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans	$ 231	61
Consumer 1-4 Family Mortgage
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans		411
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans		411
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans		0
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans		0
Consumer 1-4 Family Mortgage \| Closed end first mortgage loans \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total collateral dependent loans		$ 411

PENSION AND OTHER POSTRETIREMENT PLANS (Schedule of Fair Values of Pension Plan and Postretirement Plan Assets by Asset Category) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 2,303	$ 2,349	$ 2,472
Pension plan assets	2,303	2,346
Pension Benefits \| Equity securities - US large cap common stocks
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	923	962
Pension Benefits \| Equity securities - US mid cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	104	124
Pension Benefits \| Equity securities - US small cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	106	129
Pension Benefits \| Equity securities - emerging markets stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	73	105
Pension Benefits \| Equity securities - international stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	193	202
Pension Benefits \| Debt securities - intermediate term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	273	526
Pension Benefits \| Debt securities - short term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	572	205
Pension Benefits \| Cash - money market account
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	59	93
Pension Benefits \| Interest and dividend income
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets		3
SERP Benefits
Defined Benefit Plan Disclosure [Line Items]
Plan assets	848	879	$ 914
Pension plan assets	848	878
SERP Benefits \| Equity securities - US large cap common stocks
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	327	360
SERP Benefits \| Equity securities - US mid cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	38	23
SERP Benefits \| Equity securities - US small cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	38	72
SERP Benefits \| Equity securities - emerging markets stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	27	37
SERP Benefits \| Equity securities - international stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	71	72
SERP Benefits \| Debt securities - intermediate term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	85	216
SERP Benefits \| Debt securities - short term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	222	82
SERP Benefits \| Cash - money market account
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	40	16
SERP Benefits \| Interest and dividend income
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets		1
Level 1 \| Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	2,303	2,346
Level 1 \| Pension Benefits \| Equity securities - US large cap common stocks
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	923	962
Level 1 \| Pension Benefits \| Equity securities - US mid cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	104	124
Level 1 \| Pension Benefits \| Equity securities - US small cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	106	129
Level 1 \| Pension Benefits \| Equity securities - emerging markets stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	73	105
Level 1 \| Pension Benefits \| Equity securities - international stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	193	202
Level 1 \| Pension Benefits \| Debt securities - intermediate term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	273	526
Level 1 \| Pension Benefits \| Debt securities - short term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	572	205
Level 1 \| Pension Benefits \| Cash - money market account
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	59	93
Level 1 \| SERP Benefits
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	848	878
Level 1 \| SERP Benefits \| Equity securities - US large cap common stocks
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	327	360
Level 1 \| SERP Benefits \| Equity securities - US mid cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	38	23
Level 1 \| SERP Benefits \| Equity securities - US small cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	38	72
Level 1 \| SERP Benefits \| Equity securities - emerging markets stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	27	37
Level 1 \| SERP Benefits \| Equity securities - international stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	71	72
Level 1 \| SERP Benefits \| Debt securities - intermediate term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	85	216
Level 1 \| SERP Benefits \| Debt securities - short term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	222	82
Level 1 \| SERP Benefits \| Cash - money market account
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	40	16
Level 2 \| Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| Pension Benefits \| Equity securities - US large cap common stocks
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| Pension Benefits \| Equity securities - US mid cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| Pension Benefits \| Equity securities - US small cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| Pension Benefits \| Equity securities - emerging markets stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| Pension Benefits \| Equity securities - international stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| Pension Benefits \| Debt securities - intermediate term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| Pension Benefits \| Debt securities - short term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| Pension Benefits \| Cash - money market account
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| SERP Benefits
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| SERP Benefits \| Equity securities - US large cap common stocks
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| SERP Benefits \| Equity securities - US mid cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| SERP Benefits \| Equity securities - US small cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| SERP Benefits \| Equity securities - emerging markets stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| SERP Benefits \| Equity securities - international stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| SERP Benefits \| Debt securities - intermediate term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| SERP Benefits \| Debt securities - short term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 2 \| SERP Benefits \| Cash - money market account
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| Pension Benefits \| Equity securities - US large cap common stocks
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| Pension Benefits \| Equity securities - US mid cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| Pension Benefits \| Equity securities - US small cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| Pension Benefits \| Equity securities - emerging markets stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| Pension Benefits \| Equity securities - international stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| Pension Benefits \| Debt securities - intermediate term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| Pension Benefits \| Debt securities - short term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| Pension Benefits \| Cash - money market account
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| SERP Benefits
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| SERP Benefits \| Equity securities - US large cap common stocks
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| SERP Benefits \| Equity securities - US mid cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| SERP Benefits \| Equity securities - US small cap stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| SERP Benefits \| Equity securities - emerging markets stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| SERP Benefits \| Equity securities - international stock mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| SERP Benefits \| Debt securities - intermediate term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| SERP Benefits \| Debt securities - short term bond mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	0	0
Level 3 \| SERP Benefits \| Cash - money market account
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets	$ 0	$ 0