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CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Cumulative effect adjustment for the adoption of ASC 326
[1]
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
[1]
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, 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]                            
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 [2] 169         66         103      
Ending balance at Mar. 31, 2023 177,341     53   47,387   216,593     (17,219)   (69,473)  
Beginning balance at Dec. 31, 2023 195,241     53   47,773   229,930     (16,502)   (66,013)  
Increase (Decrease) in Shareholders' Equity [Roll Forward]                            
Net income 7,050             7,050            
Other comprehensive loss (4,065)                       (4,065)  
Restricted stock awards 308         308                
Restricted stock units for directors' deferred compensation plan 5         5                
Distribution of shares of treasury stock grants for employee restricted stock awards 0         (132)         132      
Cash dividends declared (1,474)             (1,474)            
Distribution of treasury stock for directors' compensation 0         (217)         217      
Repurchase of shares of common stock (82)                   (82)      
Sale of shares of treasury stock [2] 145         57         88      
Ending balance at Mar. 31, 2024 $ 197,128     $ 53   $ 47,794   $ 235,506     $ (16,147)   $ (70,078)  
[1] Implementation of ASC 326.
[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.