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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - USD ($)
$ in Thousands
Shares of Common Stock
Common Stock and Additional Paid in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Total
Balance, beginning of period at Dec. 31, 2017   $ 61,981 $ 19,711 $ (292) $ 81,400
Balance (in shares) at Dec. 31, 2017 6,294,930        
Increase (Decrease) in Shareholders' Equity          
Net income     8,367   8,367
Other comprehensive income (loss):          
Net change in unrealized gain on securities available for sale       (174) (174)
Actuarial loss on defined benefit pension obligation       3 3
Total comprehensive income       (171) 8,196
Stock compensation   533     533
Restricted stock award vesting (in shares) 45,630        
FFNM acquisition   34,101     $ 34,101
FFNM acquisition (in shares) 2,146,378       2,146,378
Capital raise, net of offering costs   32,451     $ 32,451
Capital raise, net of offering costs (in shares) 2,225,807        
Dividend on common stock     (4,612)   (4,612)
Balance, end of period at Dec. 31, 2018   129,066 23,466 (463) 152,069
Balance (in shares) at Dec. 31, 2018 10,712,745        
Increase (Decrease) in Shareholders' Equity          
Net income     13,850   13,850
Other comprehensive income (loss):          
Net change in unrealized gain on securities available for sale       1,270 1,270
Actuarial loss on defined benefit pension obligation       (192) (192)
Total comprehensive income       1,078 14,928
Stock compensation   498     498
Restricted stock award vesting (in shares) 35,967        
Dividend on common stock     (5,576)   (5,576)
Balance, end of period at Dec. 31, 2019   $ 129,564 $ 31,740 $ 615 $ 161,919
Balance (in shares) at Dec. 31, 2019 10,748,712