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Consolidated Statements of Shareholders' Equity - USD ($)
$ in Thousands
Total
Cumulative effect adjustment
[1]
Common Stock
Additional Paid-in Capital
Retained Earnings
Retained Earnings
Cumulative effect adjustment
[1]
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2018 $ 357,067   $ 12,463 $ 187,813 $ 168,951   $ (6,499) $ (5,661)
Net income 7,285       7,285      
Other comprehensive income, net of tax 3,038             3,038
Release/lapse of restriction on RSUs (69)     (570)     501  
Repurchase of common stock (1,299)           (1,299)  
Share-based compensation 292     292        
Dividends paid on common stock (2,465)       (2,465)      
Ending balance at Mar. 31, 2019 363,849   12,463 187,535 173,771   (7,297) (2,623)
Beginning balance at Dec. 31, 2018 357,067   12,463 187,813 168,951   (6,499) (5,661)
Net income 17,959              
Other comprehensive income, net of tax 7,284              
Ending balance at Jun. 30, 2019 488,351   16,581 296,879 181,984   (8,716) 1,623
Beginning balance at Mar. 31, 2019 363,849   12,463 187,535 173,771   (7,297) (2,623)
Issuance of common stock due to business combination 113,346   4,118 109,228        
Net income 10,674       10,674      
Other comprehensive income, net of tax 4,246             4,246
Release/lapse of restriction on RSUs (19)     (196)     177  
Repurchase of common stock (1,596)           (1,596)  
Share-based compensation 312     312        
Dividends paid on common stock (2,461)       (2,461)      
Ending balance at Jun. 30, 2019 488,351   16,581 296,879 181,984   (8,716) 1,623
Beginning balance at Dec. 31, 2019 508,982 $ (5,362) 16,581 297,390 201,105 $ (5,362) (10,466) 4,372
Net income (1,975)       (1,975)      
Other comprehensive income, net of tax 2,505             2,505
Acquisition fair value finalization [2] 2,355     2,355        
Release/lapse of restriction on RSUs (127)     (679)     552  
Repurchase of common stock (2,604)           (2,604)  
Share-based compensation 346     346        
Dividends paid on common stock (3,556)       (3,556)      
Ending balance at Mar. 31, 2020 500,564   16,581 299,412 190,212   (12,518) 6,877
Beginning balance at Dec. 31, 2019 508,982 $ (5,362) 16,581 297,390 201,105 $ (5,362) (10,466) 4,372
Net income 9,737              
Other comprehensive income, net of tax 14,176              
Ending balance at Jun. 30, 2020 520,781   16,581 299,542 198,382   (12,272) 18,548
Beginning balance at Mar. 31, 2020 500,564   16,581 299,412 190,212   (12,518) 6,877
Net income 11,712       11,712      
Other comprehensive income, net of tax 11,671             11,671
Release/lapse of restriction on RSUs (12)     (258)     246  
Share-based compensation 388     388        
Dividends paid on common stock (3,542)       (3,542)      
Ending balance at Jun. 30, 2020 $ 520,781   $ 16,581 $ 299,542 $ 198,382   $ (12,272) $ 18,548
[1] Reclassification pursuant to adoption of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. See Note 2. Effect of New Financial Accounting Standards for additional information.
[2] Relates to the finalization of the purchase accounting adjustments for the ATBancorp acquisition. This purchase accounting adjustment had a $2.06 million impact on goodwill, $296 thousand impact on deferred income taxes, with the offsetting impact being to additional paid-in capital. See Note 6. Goodwill and Intangible Assets for additional information.