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CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment
[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, Period of Adoption, Adjustment
[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 28,783             28,783            
Other comprehensive income (68,727)                       (68,727)  
Restricted stock awards 795         795                
Distribution of shares of treasury stock granted for employee restricted stock awards, net 0         (712)         712      
Restricted stock units for directors' deferred compensation plan 20         20                
Cash dividends declared (5,801)             (5,801)            
Distribution of shares of treasury stock for directors' compensation 375         131         244      
Sale of shares of treasury stock [1] 424         158         266      
Repurchase of common stock (933)                   (933)      
Forfeiture of restricted stock awards (3)         38         (41)      
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 $ 25,000             25,000            
Other comprehensive income 9,244                       9,244  
Restricted stock awards 1,139         1,139                
Distribution of shares of treasury stock granted for employee restricted stock awards, net 0         (752)         752      
Restricted stock units for directors' deferred compensation plan 20         20                
Cash dividends declared (5,853)             (5,853)            
Distribution of shares of treasury stock for directors' compensation 96         (147)         243      
Sale of shares of treasury stock [1] 601         171         430      
Repurchase of common stock (316)                   (316)      
Forfeiture of restricted stock awards (2)         11         (13)      
Ending balance at Dec. 31, 2023 $ 195,241     $ 53   $ 47,773   $ 229,930     $ (16,502)   $ (66,013)  
[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] Implementation of ASC 326. See Adoption of New Accounting Standards" discussion in Note 1.