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Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Earnings Per Share

The calculation of basic and diluted EPS for the years ended December 31, 2024, 2023 and 2022 are presented below.

		For the Year Ended December 31,
		2024				2023				2022
		(in thousands, except earnings per share amounts)
Basic EPS:
Net income – basic		$	55,436			$	62,108			$	55,602
Basic weighted average common shares			19,071				19,149				19,233
Basic earnings per share		$	2.91			$	3.24			$	2.89
Diluted EPS:
Net income – diluted		$	55,436			$	62,108			$	55,602
Diluted weighted average common shares:
Weighted average common shares			19,071				19,149				19,233
Restricted stock and RSUs			89				77				89
Diluted weighted average common shares			19,160				19,226				19,322
Diluted earnings per common share		$	2.89			$	3.23			$	2.88

Reconciliation of Weighted Average Shares used for Basic and Diluted Earnings Per Share Calculation

The table below sets forth the reconciliation of the weighted average shares used for the basic and diluted EPS calculation.

		Years Ended
		2024				2023				2022
Basic weighted average common shares			19,070,717				19,149,080				19,233,241
Add: Other common shares eligible for common dividends:
Restricted stock and RSUs			89,088				76,941				88,476
Diluted weighted average common shares			19,159,805				19,226,021				19,321,717

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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- Definition

Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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