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CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment
Cumulative Effect, Period of Adoption, Adjusted Balance
Common Stock
Common Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Additional Paid-in Capital
Additional Paid-in Capital
Cumulative Effect, Period of Adoption, Adjusted Balance
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
Retained Earnings
Cumulative Effect, Period of Adoption, Adjusted Balance
Treasury Stock
Treasury Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss)
Cumulative Effect, Period of Adoption, Adjusted Balance
Beginning balance at Dec. 31, 2017 $ 149,813   $ 149,651 $ 53 $ 53 $ 45,967 $ 45,967 $ 128,453   $ 128,493 $ (14,320) $ (14,320) $ (10,340) $ (202) $ (10,542)
Beginning balance (Accounting Standards Update 2016-01) at Dec. 31, 2017 [1]   $ (162)             $ 40         $ (202)  
Increase (Decrease) in Shareholders' Equity [Roll Forward]                              
Net income 19,626             19,626              
Other comprehensive income (loss) (869)                       (869)    
Restricted stock awards 405         405                  
Distribution of treasury stock for directors' deferred compensation plan 218         (722)         940        
Distribution of shares of treasury stock granted for employee restricted stock awards, net 0         (370)         370        
Restricted stock units for directors' deferred compensation plan 67         67                  
Cash dividends declared (4,990)             (4,990)              
Distribution of shares of treasury stock for directors' compensation 301         147         154        
Distribution of shares of treasury stock for employee compensation 89         44         45        
Sale of shares of treasury stock [1] 643         282         361        
Repurchase of common stock (112)                   (112)        
Ending balance at Dec. 31, 2018 165,029     53   45,820   143,129     (12,562)   (11,411)    
Increase (Decrease) in Shareholders' Equity [Roll Forward]                              
Net income 15,609             15,609              
Other comprehensive income (loss) 5,612                       5,612    
Restricted stock awards 503         503                  
Distribution of treasury stock for directors' deferred compensation plan 13         (52)         65        
Distribution of shares of treasury stock granted for employee restricted stock awards, net 0         (353)         353        
Restricted stock units for directors' deferred compensation plan 42         42                  
Cash dividends declared (5,037)             (5,037)              
Distribution of shares of treasury stock for directors' compensation 356         139         217        
Distribution of shares of treasury stock for employee compensation 100         39         61        
Sale of shares of treasury stock [2] 585         244         341        
Repurchase of common stock (185)                   (185)        
Ending balance at Dec. 31, 2019 182,627     53   46,382   153,701     (11,710)   (5,799)    
Increase (Decrease) in Shareholders' Equity [Roll Forward]                              
Net income 19,262             19,262              
Other comprehensive income (loss) 8,200                       8,200    
Restricted stock awards 672         672                  
Distribution of treasury stock for directors' deferred compensation plan (14)         (182)         168        
Distribution of shares of treasury stock granted for employee restricted stock awards, net 0         (403)         403        
Restricted stock units for directors' deferred compensation plan 29         29                  
Cash dividends declared (4,957)             (4,957)              
Distribution of shares of treasury stock for directors' compensation 350         145         205        
Distribution of shares of treasury stock for employee compensation 101         42         59        
Sale of shares of treasury stock [2] 1,018         74         944        
Repurchase of common stock (7,589)                   (7,589)        
Forfeiture of restricted stock awards 0         5         (5)        
Ending balance at Dec. 31, 2020 $ 199,699     $ 53   $ 46,764   $ 168,006     $ (17,525)   $ 2,401    
[1] Due to implementation of ASC 2016-01. See "Adoption of New Accounting Standards" discussion in Note 1.
[2] 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.