v3.24.1.u1
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)
$ in Thousands
Total
Cumulative effect adjustment upon adoption of ASC 326
Adjusted beginning balance
Preferred Stock
Preferred Stock
Adjusted beginning balance
Common Stock
Common Stock
Adjusted beginning balance
Retained Earnings
Retained Earnings
Cumulative effect adjustment upon adoption of ASC 326
Retained Earnings
Adjusted beginning balance
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
Adjusted beginning balance
Beginning balance, preferred stock (in shares) at Dec. 31, 2022       69,141                
Beginning balance, common stock (in shares) at Dec. 31, 2022           14,625,474            
Beginning balance at Dec. 31, 2022 $ 335,442 $ (1,886) $ 333,556 $ 69,141 $ 69,141 $ 149,631 $ 149,631 $ 127,181 $ (1,886) $ 125,295 $ (10,511) $ (10,511)
Comprehensive income (loss)                        
Net income 10,297             10,297        
Other comprehensive income (loss), net of tax 1,429                   1,429  
Repurchase of common stock (in shares)           (385,381)            
Repurchase of common stock (6,845)         $ (6,845)            
Share-based compensation expense 120         $ 120            
Stock options exercised (in shares)           57,777            
Stock options exercised 450         $ 450            
Cash dividends declared on common stock (2,177)             (2,177)        
Ending balance, preferred stock (in shares) at Mar. 31, 2023       69,141                
Ending balance, common stock (in shares) at Mar. 31, 2023           14,297,870            
Ending balance at Mar. 31, 2023 336,830     $ 69,141   $ 143,356   133,415     (9,082)  
Beginning balance, preferred stock (in shares) at Dec. 31, 2022       69,141                
Beginning balance, common stock (in shares) at Dec. 31, 2022           14,625,474            
Beginning balance at Dec. 31, 2022 $ 335,442 $ (1,886) $ 333,556 $ 69,141 $ 69,141 $ 149,631 $ 149,631 127,181 $ (1,886) $ 125,295 (10,511) $ (10,511)
Comprehensive income (loss)                        
Repurchase of common stock (in shares) (512,657)                      
Ending balance, preferred stock (in shares) at Dec. 31, 2023 69,141     69,141                
Ending balance, common stock (in shares) at Dec. 31, 2023 14,260,440         14,260,440            
Ending balance at Dec. 31, 2023 $ 348,872     $ 69,141   $ 142,563   146,092     (8,924)  
Comprehensive income (loss)                        
Net income 4,685             4,685        
Other comprehensive income (loss), net of tax (1,155)                   (1,155)  
Share-based compensation expense $ 136         $ 136            
Stock options exercised (in shares) 3,351         3,351            
Stock options exercised $ 35         $ 35            
Cash dividends declared on common stock $ (2,568)             (2,568)        
Ending balance, preferred stock (in shares) at Mar. 31, 2024 69,141     69,141                
Ending balance, common stock (in shares) at Mar. 31, 2024 14,263,791         14,263,791            
Ending balance at Mar. 31, 2024 $ 350,005     $ 69,141   $ 142,734   $ 148,209     $ (10,079)