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Earnings Per Share (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30, 2024 and 2023 were as follows:

 

 

Three months ended

 

 

Nine months ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Basic net income per common share

 

 

 

 

 

 

 

 

 

 

 

 

Available to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

19,482,000

 

 

$

15,117,000

 

 

$

59,730,000

 

 

$

50,864,000

 

Weighted average common shares outstanding

 

 

23,905,099

 

 

 

22,220,438

 

 

 

23,891,430

 

 

 

21,086,802

 

Basic earnings per common share

 

$

0.81

 

 

$

0.68

 

 

$

2.50

 

 

$

2.41

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per common share

 

 

 

 

 

 

 

 

 

 

 

Available to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

Net income applicable to diluted earnings per share

 

$

19,482,000

 

 

$

15,117,000

 

 

$

59,730,000

 

 

$

50,864,000

 

Weighted average common shares outstanding

 

 

23,905,099

 

 

 

22,220,438

 

 

 

23,891,430

 

 

 

21,086,802

 

Dilutive potential common shares: restricted stock awarded

 

 

101,548

 

 

 

98,896

 

 

 

97,048

 

 

 

90,144

 

Diluted weighted average common shares outstanding

 

 

24,006,647

 

 

 

22,319,334

 

 

 

23,988,478

 

 

 

21,176,946

 

Diluted earnings per common share

 

$

0.81

 

 

$

0.68

 

 

$

2.49

 

 

$

2.40