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CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Loss
Beginning balances at Dec. 31, 2016 $ 143,748 $ 53 $ 45,603 $ 124,111 $ (15,265) $ (10,754)
Increase (Decrease) in Shareholders' Equity [Roll Forward]            
Net income 2,979     2,979    
Other comprehensive income 1,998         1,998
Restricted stock awards 52   52      
Restricted stock units for directors' deferred compensation plan 24   24      
Cash dividends declared (1,230)     (1,230)    
Distribution of treasury stock for directors' compensation 269   68   201  
Sale of treasury stock [1] 217   61   156  
Forfeiture of 1,139 shares of restricted stock awards 0   43   (43)  
Ending balances at Mar. 31, 2017 148,257 53 45,901 125,860 (14,801) (8,756)
Increase (Decrease) in Shareholders' Equity [Roll Forward]            
Cumulative effect of accounting change [2] (162)     40   (202)
Balances at January 1, 2018, as adjusted 149,651 53 45,967 128,493 (14,320) (10,542)
Beginning balances at Dec. 31, 2017 149,813 53 45,967 128,453 (14,320) (10,340)
Increase (Decrease) in Shareholders' Equity [Roll Forward]            
Net income 4,439     4,439    
Other comprehensive income (3,294)         (3,294)
Restricted stock awards 163   163      
Restricted stock units for directors' deferred compensation plan 25   25      
Cash dividends declared (1,238)     (1,238)    
Distribution of treasury stock for directors' compensation 301   147   154  
Distribution of shares of treasury stock for employee stock compensation 89   44   45  
Sale of treasury stock [1] 126   58   68  
Ending balances at Mar. 31, 2018 $ 150,262 $ 53 $ 46,404 $ 131,694 $ (14,053) $ (13,836)
[1] All treasury stock sales were completed at the prevailing market price with the Chemung Canal Trust Company Profit Sharing, Savings, and Investment Plan which is a defined contribution plan sponsored by the Bank.
[2] Due to implementation of ASC 2016-01. See "Adoption of New Accounting Standards" discussion in Note 1.