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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - UNAUDITED - USD ($)
$ in Thousands
Common Stock [Member]
Additional Paid-in Capital [Member]
Unearned Compensation - ESOP [Member]
Deferred Compensation, Share-Based Payments [Member]
Retained Earnings [Member]
AOCI Attributable to Parent [Member]
Total
Beginning balance, value at Dec. 31, 2021 $ 227 $ 132,821 $ (3,441) $ (981) $ 107,376 $ (12,314) $ 223,688
Beginning balance, shares at Dec. 31, 2021 22,656,515            
Comprehensive income (loss) 5,319 (8,417) (3,098)
Common stock held by ESOP committed to be released 45 134 179
Share-based compensation - equity incentive plan 301 301
Forfeited equity incentive plan shares (6,651 shares) (57) 57
Forfeited equity incentive plan shares reissued (7,289 shares) 71 (71)
Common stock repurchased $ (2) (1,178) (1,180)
Common stock repurchased, shares (132,358)            
Issuance of common stock in connection with stock option exercises $ 1 509 510
Issuance of common stock in connection with stock option exercises, shares 80,881            
Issuance of common stock in connection with equity incentive plan $ 1 1,248 (1,249)
Issuance of common stock in connection with equity incentive plan, shares 137,151            
Cash dividends declared and paid on common stock (1,337) (1,337)
Ending balance, value at Mar. 31, 2022 $ 227 133,459 (3,307) (1,943) 111,358 (20,731) 219,063
Ending balance, shares at Mar. 31, 2022 22,742,189            
Beginning balance, value at Dec. 31, 2021 $ 227 132,821 (3,441) (981) 107,376 (12,314) 223,688
Beginning balance, shares at Dec. 31, 2021 22,656,515            
Comprehensive income (loss)             (3,568)
Ending balance, value at Jun. 30, 2022 $ 225 131,104 (3,173) (1,651) 115,561 (26,736) 215,330
Ending balance, shares at Jun. 30, 2022 22,465,991            
Beginning balance, value at Mar. 31, 2022 $ 227 133,459 (3,307) (1,943) 111,358 (20,731) 219,063
Beginning balance, shares at Mar. 31, 2022 22,742,189            
Comprehensive income (loss) 5,535 (6,005) (470)
Common stock held by ESOP committed to be released 38 134 172
Share-based compensation - equity incentive plan 292 292
Common stock repurchased $ (2) (2,508) (2,510)
Common stock repurchased, shares (293,173)            
Issuance of common stock in connection with stock option exercises 115 115
Issuance of common stock in connection with stock option exercises, shares 16,975            
Cash dividends declared and paid on common stock (1,332) (1,332)
Ending balance, value at Jun. 30, 2022 $ 225 131,104 (3,173) (1,651) 115,561 (26,736) 215,330
Ending balance, shares at Jun. 30, 2022 22,465,991            
Beginning balance, value at Dec. 31, 2022 $ 222 128,899 (2,906) (1,012) 127,982 (25,042) 228,143
Beginning balance, shares at Dec. 31, 2022 22,216,789            
Cumulative effect accounting adjustment [1] 9 9
Comprehensive income (loss) 5,304 1,941 7,245
Common stock held by ESOP committed to be released 52 128 180
Share-based compensation - equity incentive plan 529 529
Forfeited equity incentive plan shares reissued in connection with 2020 LTI performance share grant (19,761 shares) 180 (180)
Common stock repurchased $ (1) (1,350) (1,351)
Common stock repurchased, shares (143,896)            
Issuance of common stock in connection with equity incentive plan $ 1 1,348 (1,349)
Issuance of common stock in connection with equity incentive plan, shares 136,454            
Forfeited equity incentive plan shares reissued in connection with 2023 LTI grant (2,742 shares) 27 (27)
Cash dividends declared and paid on common stock (1,533) (1,533)
Ending balance, value at Mar. 31, 2023 $ 222 129,156 (2,778) (2,039) 131,762 (23,101) 233,222
Ending balance, shares at Mar. 31, 2023 22,209,347            
Beginning balance, value at Dec. 31, 2022 $ 222 128,899 (2,906) (1,012) 127,982 (25,042) 228,143
Beginning balance, shares at Dec. 31, 2022 22,216,789            
Comprehensive income (loss)             9,885
Ending balance, value at Jun. 30, 2023 $ 221 128,393 (2,650) (1,739) 132,997 (23,224) 233,998
Ending balance, shares at Jun. 30, 2023 22,082,403            
Beginning balance, value at Mar. 31, 2023 $ 222 129,156 (2,778) (2,039) 131,762 (23,101) 233,222
Beginning balance, shares at Mar. 31, 2023 22,209,347            
Comprehensive income (loss) 2,763 (123) 2,640
Common stock held by ESOP committed to be released 22 128 150
Share-based compensation - equity incentive plan 300 300
Common stock repurchased $ (1) (785) (786)
Common stock repurchased, shares (126,944)            
Cash dividends declared and paid on common stock (1,528) (1,528)
Ending balance, value at Jun. 30, 2023 $ 221 $ 128,393 $ (2,650) $ (1,739) $ 132,997 $ (23,224) $ 233,998
Ending balance, shares at Jun. 30, 2023 22,082,403            
[1] Represents gross transition adjustment amount of $13,000, net of taxes of $4,000, to reflect the cumulative impact on retained earnings pursuant to the Company’s adoption of Accounting Standards Update (“ASU”) 2016-13 Financial Instruments-Credit Losses on Financial Instruments and relevant amendments. Refer to Note 5, “Loans and Allowance for Credit Losses” within the Notes to the Consolidated Financial Statements on Form 10-Q for both March 31, 2023 and June 30, 2023.