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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Components of Basic and Diluted Net Income per Common Share

The components of basic and diluted net income per common share available to common stockholders for the three and six months ended June 30, 2024 and 2023 were as follows:

 

 

Three months ended

 

 

Six months ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Basic net income per common share

 

 

 

 

 

 

 

 

 

 

 

 

Available to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

19,745,000

 

 

$

16,567,000

 

 

$

40,248,000

 

 

$

35,747,000

 

Weighted average common shares outstanding

 

 

23,896,210

 

 

 

20,528,717

 

 

 

23,884,472

 

 

 

20,510,585

 

Basic earnings per common share

 

$

0.83

 

 

$

0.81

 

 

$

1.69

 

 

$

1.74

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per common share

 

 

 

 

 

 

 

 

 

 

 

 

Available to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

Net income applicable to diluted earnings per share

 

$

19,745,000

 

 

$

16,567,000

 

 

$

40,248,000

 

 

$

35,747,000

 

Weighted average common shares outstanding

 

 

23,896,210

 

 

 

20,528,717

 

 

 

23,884,472

 

 

 

20,510,585

 

Dilutive potential common shares: restricted stock awarded

 

 

101,942

 

 

 

99,522

 

 

 

94,772

 

 

 

85,698

 

Diluted weighted average common shares outstanding

 

 

23,998,152

 

 

 

20,628,239

 

 

 

23,979,244

 

 

 

20,596,283

 

Diluted earnings per common share

 

$

0.82

 

 

$

0.80

 

 

$

1.68

 

 

$

1.74