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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Impact of adopting ASC 326
Preferred Stock
Preferred Stock, Series A
Preferred Stock
Preferred Stock, Series B
Preferred Stock
Preferred Stock, Series C
Common Stock, Additional Paid-in Capital, and Unearned Compensation
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Retained Earnings
Impact of adopting ASC 326
Beginning balance at Dec. 31, 2022 $ 91,884 $ (2,508) $ 6,161 $ 3,123 $ 0 $ 52,845 $ (3,724) $ 33,479 $ (2,508)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 4,047             4,047  
Issuance of common stock under:                  
Non-qualified stock purchase plan 206         206      
Dividend reinvestment plan 159         159      
Issuance of preferred stock, net 1,835       1,835        
Repurchase of common stock (13)         (13)      
Exercise of stock options, net (49)         (49)      
Unearned ESOP shares allocation (329)         (329)      
Stock-based awards - common stock:                  
Restricted stock expense, net of tax impact 356         356      
Stock option expense 83         83      
Other comprehensive income (loss), net 103           103    
Dividends declared on:                  
Preferred stock (624)             (624)  
Common stock (985)             (985)  
Ending balance at Sep. 30, 2023 94,165   6,161 3,123 1,835 53,258 (3,621) 33,409  
Beginning balance at Jun. 30, 2023 91,065   6,161 3,123 0 52,998 (3,239) 32,022  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 1,923             1,923  
Issuance of common stock under:                  
Non-qualified stock purchase plan 21         21      
Dividend reinvestment plan 75         75      
Issuance of preferred stock, net 1,835       1,835        
Repurchase of common stock (3)         (3)      
Exercise of stock options, net (49)         (49)      
Stock-based awards - common stock:                  
Restricted stock expense, net of tax impact 191         191      
Stock option expense 25         25      
Other comprehensive income (loss), net (382)           (382)    
Dividends declared on:                  
Preferred stock (208)             (208)  
Common stock (328)             (328)  
Ending balance at Sep. 30, 2023 94,165   6,161 3,123 1,835 53,258 (3,621) 33,409  
Beginning balance at Dec. 31, 2023 100,707 [1]   6,161 3,123 6,446 53,563 (2,981) 34,395  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 2,827             2,827  
Issuance of common stock under:                  
Unearned ESOP shares allocation (44)         (44)      
Stock-based awards - common stock:                  
Restricted stock expense, net of tax impact 252         252      
Stock option expense 31         31      
Other comprehensive income (loss), net 669           669    
Dividends declared on:                  
Preferred stock (1,156)             (1,156)  
Common stock (993)             (993)  
Ending balance at Sep. 30, 2024 102,293   6,161 3,123 6,446 53,802 (2,312) 35,073  
Beginning balance at Jun. 30, 2024 100,962   6,161 3,123 6,446 53,692 (3,113) 34,653  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 1,137             1,137  
Stock-based awards - common stock:                  
Restricted stock expense, net of tax impact 101         101      
Stock option expense 9         9      
Other comprehensive income (loss), net 801           801    
Dividends declared on:                  
Preferred stock (385)             (385)  
Common stock (332)             (332)  
Ending balance at Sep. 30, 2024 $ 102,293   $ 6,161 $ 3,123 $ 6,446 $ 53,802 $ (2,312) $ 35,073  
[1] Derived from audited consolidated financial statements