XML 33 R22.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Earnings Per Share | 12 Months Ended
--- | ---
Dec. 31, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | 13. Earnings Per Share The Company computes earnings per share (EPS) in accordance with FASB Accounting Standards Codification (ASC) Topic 260, Earnings Per Share. The Company has no participating unvested common shares which contain nonforfeitable rights to dividends and applies the treasury stock method in computing basic and diluted earnings per share. Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding during the period. The diluted EPS calculation includes potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any outstanding options were exercised or restricted stock becomes vested. The calculation of basic and diluted EPS for the years ended December 31, 2023, 2022 and 2021 are presented below.
|  | For the Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (in thousands, except earnings per share amounts) |
Basic EPS: |  |  |  |  |  |  |  |  |
Net income – basic |  | $ | 62,108 |  |  | $ | 55,602 |  |  | $ | 65,756 |
Basic weighted average common shares |  |  | 19,149 |  |  |  | 19,233 |  |  |  | 19,332 |
Basic earnings per share |  | $ | 3.24 |  |  | $ | 2.89 |  |  | $ | 3.40 |
Diluted EPS: |  |  |  |  |  |  |  |  |
Net income – diluted |  | $ | 62,108 |  |  | $ | 55,602 |  |  | $ | 65,756 |
Diluted weighted average common shares: |  |  |  |  |  |  |  |  |
Weighted average common shares |  |  | 19,149 |  |  |  | 19,233 |  |  |  | 19,332 |
Restricted stock and RSUs |  |  | 77 |  |  |  | 89 |  |  |  | 77 |
Diluted weighted average common shares |  |  | 19,226 |  |  |  | 19,322 |  |  |  | 19,409 |
Diluted earnings per common share |  | $ | 3.23 |  |  | $ | 2.88 |  |  | $ | 3.39 |
The table below sets forth the reconciliation of the weighted average shares used for the basic and diluted EPS calculation.
|  | Years Ended |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Basic weighted average common shares |  |  | 19,149,080 |  |  |  | 19,233,241 |  |  |  | 19,332,391 |
Add: Other common shares eligible for common dividends: |  |  |  |  |  |  |  |  |
Restricted stock and RSUs |  |  | 76,941 |  |  |  | 88,476 |  |  |  | 76,228 |
Diluted weighted average common shares |  |  | 19,226,021 |  |  |  | 19,321,717 |  |  |  | 19,408,619 |

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration