v3.25.2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)
$ in Thousands
Total
Common stock and additional paid-in capital
Retained earnings
Accumulated other comprehensive income (loss)
Beginning balance (in shares) at Dec. 31, 2023   11,098,057    
Balance at beginning of period at Dec. 31, 2023 $ 243,079 $ 70,182 $ 211,925 $ (39,028)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 12,192   12,192  
Net unrealized (loss) gain on securities available for sale, net of tax (3,794)     (3,794)
Net unrealized gain (loss) on securities transferred from available for sale to held to maturity, net of tax 5     5
Net unrealized gain (loss) on hedging derivative instruments, net of tax 433     433
Comprehensive income 8,836   12,192 (3,356)
Cash dividends declared (7,906)   (7,906)  
Equity compensation expense 450 $ 450    
Payment to repurchase common stock (in shares)   (8,881)    
Payment to repurchase common stock (212)   (212)  
Issuance of restricted stock (in shares)   32,859    
Proceeds from sale of common stock (in shares)   17,604    
Proceeds from sale of common stock $ 421 $ 421    
Ending balance (in shares) at Jun. 30, 2024 11,139,639 11,139,639    
Balance at end of period at Jun. 30, 2024 $ 244,668 $ 71,053 215,999 (42,384)
Beginning balance (in shares) at Mar. 31, 2024   11,130,933    
Balance at beginning of period at Mar. 31, 2024 242,624 $ 70,617 213,839 (41,832)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 6,171   6,171  
Net unrealized (loss) gain on securities available for sale, net of tax (553)     (553)
Net unrealized gain (loss) on securities transferred from available for sale to held to maturity, net of tax 3     3
Net unrealized gain (loss) on hedging derivative instruments, net of tax (2)     (2)
Comprehensive income 5,619   6,171 (552)
Cash dividends declared (4,011)   (4,011)  
Equity compensation expense 218 $ 218    
Payment to repurchase common stock (in shares)   (850)    
Proceeds from sale of common stock (in shares)   9,556    
Proceeds from sale of common stock $ 218 $ 218    
Ending balance (in shares) at Jun. 30, 2024 11,139,639 11,139,639    
Balance at end of period at Jun. 30, 2024 $ 244,668 $ 71,053 215,999 (42,384)
Beginning balance (in shares) at Dec. 31, 2024 11,155,528 11,155,528    
Balance at beginning of period at Dec. 31, 2024 $ 252,493 $ 71,944 222,823 (42,274)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 15,140   15,140  
Net unrealized (loss) gain on securities available for sale, net of tax 5,434     5,434
Net unrealized gain (loss) on securities transferred from available for sale to held to maturity, net of tax (13)     (13)
Net unrealized gain (loss) on hedging derivative instruments, net of tax (73)     (73)
Comprehensive income 20,488   15,140 5,348
Cash dividends declared (8,177)   (8,177)  
Equity compensation expense 510 $ 510    
Payment to repurchase common stock (in shares)   (11,434)    
Payment to repurchase common stock (275)   (275)  
Issuance of restricted stock (in shares)   43,297    
Proceeds from sale of common stock (in shares)   18,470    
Proceeds from sale of common stock $ 453 $ 453    
Ending balance (in shares) at Jun. 30, 2025 11,205,861 11,205,861    
Balance at end of period at Jun. 30, 2025 $ 265,492 $ 72,907 229,511 (36,926)
Beginning balance (in shares) at Mar. 31, 2025   11,196,881    
Balance at beginning of period at Mar. 31, 2025 259,681 $ 72,467 225,592 (38,378)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 8,063   8,063  
Net unrealized (loss) gain on securities available for sale, net of tax 1,465     1,465
Net unrealized gain (loss) on securities transferred from available for sale to held to maturity, net of tax (15)     (15)
Net unrealized gain (loss) on hedging derivative instruments, net of tax 2     2
Comprehensive income 9,515   8,063 1,452
Cash dividends declared (4,146)   (4,146)  
Equity compensation expense 212 $ 212    
Payment to repurchase common stock (in shares)   (650)    
Payment to repurchase common stock 2   2  
Proceeds from sale of common stock (in shares)   9,630    
Proceeds from sale of common stock $ 228 $ 228    
Ending balance (in shares) at Jun. 30, 2025 11,205,861 11,205,861    
Balance at end of period at Jun. 30, 2025 $ 265,492 $ 72,907 $ 229,511 $ (36,926)