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CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Cumulative effect adjustment for the adoption of ASC 326
[2]
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 adjustment for the adoption of ASC 326
[2]
Retained Earnings
Cumulative Effect, Period of Adoption, Adjusted Balance
Treasury Stock
Treasury Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss
Cumulative Effect, Period of Adoption, Adjusted Balance
Beginning balance at Dec. 31, 2021 $ 211,455     $ 53   $ 46,901   $ 188,877     $ (17,846)   $ (6,530)  
Increase (Decrease) in Shareholders' Equity [Roll Forward]                            
Net income 6,867             6,867            
Other comprehensive loss (31,075)                       (31,075)  
Restricted stock awards 179         179                
Restricted stock units for directors' deferred compensation plan 5         5                
Distribution of shares of treasury stock grants for employee restricted stock awards 0         (112)         112      
Cash dividends declared (1,449)             (1,449)            
Distribution of treasury stock for directors' compensation 105         (139)         244      
Repurchase of shares of common stock (695)                   (695)      
Sale of shares of treasury stock [1] 118         46         72      
Ending balance at Mar. 31, 2022 185,510     53   46,880   194,295     (18,113)   (37,605)  
Beginning balance at Dec. 31, 2021 211,455     53   46,901   188,877     (17,846)   (6,530)  
Ending balance at Dec. 31, 2022 $ 166,388 $ (1,076) $ 165,312 53 $ 53 47,331 $ 47,331 211,859 $ (1,076) $ 210,783 (17,598) $ (17,598) (75,257) $ (75,257)
Increase (Decrease) in Shareholders' Equity [Roll Forward]                            
Accounting Standards Update [Extensible Enumeration] Accounting Standards Update 2016-13 [Member]                          
Net income $ 7,270             7,270            
Other comprehensive loss 5,784                       5,784  
Restricted stock awards 263         263                
Restricted stock units for directors' deferred compensation plan 5         5                
Distribution of shares of treasury stock grants for employee restricted stock awards 0         (131)         131      
Cash dividends declared (1,460)             (1,460)            
Distribution of treasury stock for directors' compensation 96         (147)         243      
Repurchase of shares of common stock (98)                   (98)      
Sale of shares of treasury stock [1] 169         66         103      
Ending balance at Mar. 31, 2023 $ 177,341     $ 53   $ 47,387   $ 216,593     $ (17,219)   $ (69,473)  
[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 326. See "Adoption of New Accounting Standards" discussion in Note 1.