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Consolidated Statements of Changes in Shareholders’ Equity - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment
Preferred Stock and Surplus
Common Stock
Paid-in Capital
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
Comprehensive Income (Loss)
Treasury Stock
Beginning Balance at Dec. 31, 2021 $ 389,627   $ 0 $ 4,000 $ 10,374 $ 396,120   $ 6,955 $ (27,822)
Beginning balance (in shares) at Dec. 31, 2021       7,423,760          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net Income 44,013         44,013      
Other comprehensive income (loss) $ (146,450)             (146,450)  
(Purchase) sale of treasury stock, net (in shares) 2,000     2,000          
(Purchase) sale of treasury stock, net $ 97               97
Cash dividends, declared (15,742)         (15,742)      
Share-based compensation expense, net 1,908       1,908        
Ending Balance at Dec. 31, 2022 $ 273,453 $ (3,439) 0 $ 4,000 12,282 424,391 $ (3,439) (139,495) (27,725)
Ending balance (in shares) at Dec. 31, 2022       7,425,760          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Accounting standards update Accounting Standards Update 2016-13 [Member]                
Net Income $ 22,692         22,692      
Other comprehensive income (loss) $ 36,001             36,001  
(Purchase) sale of treasury stock, net (in shares) 2,950     2,950          
(Purchase) sale of treasury stock, net $ 141               141
Cash dividends, declared (16,298)         (16,298)      
Share-based compensation expense, net 2,200       2,213 (13)      
Ending Balance at Dec. 31, 2023 $ 314,750   0 $ 4,000 14,495 427,333   (103,494) (27,584)
Ending balance (in shares) at Dec. 31, 2023 7,428,710     7,428,710          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net Income $ 35,708         35,708      
Acquisition of Summit Financial Group, Inc. 397,445   10,413 $ 3,703 383,329        
Acquisition of Summit Financial Group, Inc. (in shares)       7,405,772          
Other comprehensive income (loss) 7,774             7,774  
Cash dividends, declared (28,000)                
Cash dividends, paid and accrued [1] (28,260)         (28,260)      
Preferred stock cash dividends, declared (675)         (675)      
Share-based compensation expense, net (in shares)       134,622          
Share-based compensation expense, net 3,415     $ 67 3,348        
Ending Balance at Dec. 31, 2024 $ 730,157   $ 10,413 $ 7,770 $ 401,172 $ 434,106   $ (95,720) $ (27,584)
Ending balance (in shares) at Dec. 31, 2024 14,969,104     14,969,104          
[1]
(1) Cash dividends, paid and accrued for the year ending December 31, 2024, include dividends paid of $28.0 million and $299.0 thousand of dividends accrued on share-based compensation but unpaid as of December 31, 2024.