v3.25.1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Common Stock
Additional Paid-in Capital
Retained Earnings
Cumulative effect adoption
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Cumulative effect adoption
Total
Balance at beginning of period (Accounting Standards Update 2023-02) at Dec. 31, 2023     $ (223)       $ (223)  
Balance at beginning of period at Dec. 31, 2023 $ 118 $ 44,320   $ 569,872 $ (42,481)     $ 571,829
Net income       13,407       13,407
Stock issued under Stock Option Plan   487       $ 205   692
Common cash dividends declared       (4,680)       (4,680)
Change in fair value of cash flow hedges         (4,532)     (4,532)
Change in unrealized loss on held-to-maturity securities         (36)     (36)
Change in unrealized gain (loss) on available-for-sale securities         (5,460)     (5,460)
Repurchase of the Company's common stock           (5,835)   (5,835)
Reclassification of treasury stock per Maryland law (1)     (5,629)   5,630    
Balance at ending of period at Mar. 31, 2024 117 44,807   572,747 (52,509)     565,162
Balance at beginning of period at Dec. 31, 2024 117 50,336   603,477 (54,362)     599,568
Net income       17,160       17,160
Stock issued under Stock Option Plan   740       441   1,181
Common cash dividends declared       (4,626)       (4,626)
Change in fair value of cash flow hedges         2,635     2,635
Change in unrealized loss on held-to-maturity securities         (44)     (44)
Change in unrealized gain (loss) on available-for-sale securities         7,633     7,633
Repurchase of the Company's common stock           (10,214)   (10,214)
Reclassification of treasury stock per Maryland law (1)     (9,772)   $ 9,773    
Balance at ending of period at Mar. 31, 2025 $ 116 $ 51,076   $ 606,239 $ (44,138)     $ 613,293