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Consolidated Statements of Changes In Shareholders' Equity (Unaudited) - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment
[1]
Common Stock
Additional Paid-in Capital
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
[1]
Accumulated Other Comprehensive (Loss) Income
Treasury Stock
Balance (in shares) at Dec. 31, 2022     16,094,486          
Balance at Dec. 31, 2022 $ 512,099 $ (11,548) $ 16,094 $ 386,987 $ 133,114 $ (11,548) $ (19,216) $ (4,880)
Net income 11,227       11,227      
Total other comprehensive income (loss), net of taxes 1,842           1,842  
Common stock cash dividends declared - $0.20 per share (3,176)       (3,176)      
Employee Stock Purchase Plan (in shares)     2,217          
Employee Stock Purchase Plan 57   $ 2 55        
Director Stock Purchase Plan (in shares)     1,651          
Director Stock Purchase Plan 43   $ 2 41        
Restricted stock activity 249     249        
Balance (in shares) at Mar. 31, 2023     16,098,354          
Balance at Mar. 31, 2023 510,793   $ 16,098 387,332 129,617   (17,374) (4,880)
Balance (in shares) at Dec. 31, 2023     16,998,929          
Balance at Dec. 31, 2023 542,350   $ 16,999 405,725 145,982   (16,637) (9,719)
Net income 12,133       12,133      
Total other comprehensive income (loss), net of taxes (310)           (310)  
Common stock cash dividends declared - $0.20 per share (3,314)       (3,314)      
Repurchased stock (323)             (323)
Employee Stock Purchase Plan (in shares)     5,653          
Employee Stock Purchase Plan 112   $ 5 107        
Director Stock Purchase Plan (in shares)     1,777          
Director Stock Purchase Plan 36   $ 2 34        
Restricted stock activity 284     284        
Balance (in shares) at Mar. 31, 2024     17,006,359          
Balance at Mar. 31, 2024 $ 550,968   $ 17,006 $ 406,150 $ 154,801   $ (16,947) $ (10,042)
[1] The Corporation adopted ASU 2016-13 "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" effective January 1, 2023. See "Note 1 - Summary of Significant Accounting Policies" for further details.