XML 38 R28.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Stockholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2024
Text Block [Abstract]  
Schedule of Earnings per Common Share Reconciliation
The following table illustrates the calculation of weighted average shares used for earnings per common share computations for the periods indicated:
Three Months Ended March 31,
20242023
(Dollars in thousands, except shares)
Net income allocated to common shareholders$5,748 $20,457 
Basic:
Weighted average common shares outstanding34,825,471 35,108,390 
Diluted:
Basic weighted average common shares outstanding34,825,471 35,108,390 
Three Months Ended March 31,
20242023
(Dollars in thousands, except shares)
Effect of potentially dilutive common shares (1)
401,667 336,950 
Total diluted weighted average common shares outstanding35,227,138 35,445,340 
Potentially dilutive shares that were excluded from the computation of diluted earnings per share because to do so would be anti-dilutive (2)
52,397 88,488 
(1) Represents the effect of the vesting of restricted stock units.
(2) Anti-dilution occurs when the unrecognized compensation cost per share of a restricted stock unit exceeds the market price of the Company’s stock
Schedule of Dividends Activity
The following table summarizes the dividend activity during the three months ended March 31, 2024 and the calendar year 2023:
DeclaredCash Dividend per ShareRecord DatePaid Date
January 25, 2023$0.22February 8, 2023February 22, 2023
April 19, 2023$0.22May 4, 2023May 18, 2023
July 19, 2023$0.22August 2, 2023August 16, 2023
October 18, 2023$0.22November 1, 2023November 15, 2023
January 24, 2024$0.23February 8, 2024February 22, 2024
Schedule of Stock Repurchased
The following table provides total repurchased shares and average share prices under the repurchase plan for the periods indicated:
Three Months Ended March 31,
20242023
Plan Total(1)
Twelfth Stock Repurchase Plan
Repurchased shares303,880 88,355 1,795,144 
Stock repurchases average share price
$18.58 $22.82 $22.11 
(1) Represents total shares repurchased and average price per share paid during the duration of the repurchase plan.
In addition to the stock repurchases under a stock repurchase plan, the Company withholds shares from award participants on the vesting of restricted stock units to pay the participant's withholding taxes . The following table provides total shares withheld to pay withholding taxes during the periods indicated:
Three Months Ended March 31,
20242023
Withheld shares to pay withholding taxes
25,698 26,724 
Average share price of withheld shares to pay withholding taxes
$18.38 $22.84