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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock [Member]
Capital Surplus [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Loss [Member]
Balance at Dec. 31, 2022 $ 133,416 $ 13,214 $ 105,344 $ 63,482 $ (48,624)
Exercise of stock options 18 3 15    
Stock option expense 42   42    
Restricted stock grant expense 111   111    
Vested restricted stock grants   21 (21)    
Cash dividends declared (1,762)     (1,762)  
Impact of adoption of CECL (1,890)     (1,890)  
Net income 5,791     5,791  
Other comprehensive income (loss) 5,771       5,771
Balance at Mar. 31, 2023 141,497 13,238 105,491 65,621 (42,853)
Balance at Dec. 31, 2022 133,416 13,214 105,344 63,482 (48,624)
Net income 11,442        
Balance at Jun. 30, 2023 142,439 13,250 105,667 69,502 (45,980)
Balance at Mar. 31, 2023 141,497 13,238 105,491 65,621 (42,853)
Stock option expense 68   68    
Restricted stock grant expense 120   120    
Vested restricted stock grants   12 (12)    
Cash dividends declared (1,770)     (1,770)  
Net income 5,651     5,651  
Other comprehensive income (loss) (3,127)       (3,127)
Balance at Jun. 30, 2023 142,439 13,250 105,667 69,502 (45,980)
Balance at Dec. 31, 2023 153,040 [1] 13,258 106,045 73,781 (40,044)
Stock option expense 24   24    
Restricted stock grant expense 171   171    
Vested restricted stock grants   21 (21)    
Shares repurchased (26) (2) (24)    
Cash dividends declared (1,770)     (1,770)  
Net income 3,646     3,646  
Other comprehensive income (loss) (2,508)       (2,508)
Balance at Mar. 31, 2024 152,577 13,277 106,195 75,657 (42,552)
Balance at Dec. 31, 2023 153,040 [1] 13,258 106,045 73,781 (40,044)
Net income 7,805        
Balance at Jun. 30, 2024 154,164 13,256 105,935 77,961 (42,988)
Balance at Mar. 31, 2024 152,577 13,277 106,195 75,657 (42,552)
Stock option expense 35   35    
Restricted stock grant expense 217   217    
Vested restricted stock grants   28 (28)    
Shares repurchased (533) (49) (484)    
Cash dividends declared (1,772)     (1,772)  
Net income 4,159     4,159  
Adjustment for Masonry capital distribution (83)     (83)  
Other comprehensive income (loss) (436)       (436)
Balance at Jun. 30, 2024 $ 154,164 $ 13,256 $ 105,935 $ 77,961 $ (42,988)
[1] Derived from audited Consolidated Financial Statements