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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Schedule of basic and diluted earnings per share
Earnings per share in the table below, for the three and six month periods ended June 30, 2025 and 2024 are calculated under the two-class method as required by ASC Topic 260, Earnings Per Share (ASC 260). ASC 260 provides that unvested share-based payment awards that contain nonforfeitable rights to dividends are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method. Prior to 2019, the Company issued restricted stock awards that contained such rights and are therefore considered participating securities. Since 2019, the Company has issued restricted stock awards that do not have nonforfeitable rights to dividends and are therefore not considered participating securities. Basic earnings per common share are calculated by dividing net income allocable to common stock by the weighted average number of common shares, excluding participating securities, during the period. Diluted earnings per common share include the dilutive effect of participating securities.
Three Months Ended
(In thousands, except share and per share data)6/30/20256/30/2024
Basic
Net income available to common shareholders$21,471 $15,682 
Less: income attributable to unvested stock-based compensation awards0 
Net earnings allocated to common shareholders21,471 15,682 
Weighted average shares outstanding, including unvested stock-based compensation awards14,433,857 14,399,291 
Less: average unvested stock-based compensation awards(187,462)(184,717)
Weighted average shares outstanding - Basic14,246,395 14,214,574 
Diluted
Net earnings allocated to common shareholders21,471 15,682 
Weighted average shares outstanding - Basic14,246,395 14,214,574 
Plus: incremental shares from assumed conversion of stock-based compensation awards73,730 25,052 
Weighted average shares outstanding - Diluted14,320,125 14,239,626 
Basic EPS$1.51 $1.10 
Diluted EPS$1.50 $1.10 
Six Months Ended
(In thousands, except share and per share data)6/30/20256/30/2024
Basic
Net income available to common shareholders$41,150 $32,554 
Less: income attributable to unvested stock-based compensation awards0 
Net earnings allocated to common shareholders41,150 32,554 
Weighted average shares outstanding, including unvested stock-based compensation awards14,434,245 14,402,519 
Less: unvested stock-based compensation awards(187,979)(189,277)
Weighted average shares outstanding - Basic14,246,266 14,213,242 
Diluted
Net earnings allocated to common shareholders41,150 32,554 
Weighted average shares outstanding - Basic14,246,266 14,213,242 
Plus: incremental shares from assumed conversion of stock-based compensation awards73,515 25,750 
Weighted average shares outstanding - Diluted14,319,781 14,238,992 
Basic EPS$2.89 $2.29 
Diluted EPS$2.87 $2.29