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EQUITY (Tables) | 3 Months Ended
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Mar. 31, 2025
Table Text Block Supplement [Abstract] |
Schedule of Common Shares Activity | The following table summarizes the Company's common shares activity for the quarter ended March 31, 2025:
Common Stock |  | Shares |
Shares as of December 31, 2024 |  |  | 16,192,345 |
Shares Issued - DRP |  |  | 5,473 |
Shares Issued - Time Restricted |  |  | 26,430 |
Shares Issued - Performance Restricted |  |  | 26,430 |
Forfeited Shares - Time Restricted |  |  | (396 | )
Forfeited Shares - Performance Restricted |  |  | (250 | )
Shares as of March 31, 2025 |  |  | 16,250,032 |
Schedule of Time Restricted Shares and Performance Restricted Share | The Time Restricted Shares and Performance Restricted Shares activity during the three months ended March 31, 2025 in conjunction with the Stock Plan is presented in the following table:
|  | Time Restricted Shares |  |  | Performance Restricted Shares |
|  | Units |  |  | Weighted Average Stock Price |  |  | Units |  |  | Weighted Average Stock Price |
Restricted Shares as of December 31, 2024 |  |  | 19,933 |  |  | $ | 48.09 |  |  |  | 41,200 |  |  | $ | 50.28 |
Granted |  |  | 26,430 |  |  | $ | 52.65 |  |  |  | 26,430 |  |  | $ | 52.65 |
Shares Issued |  |  | (20,797 | ) |  | $ | 50.57 |  |  |  | — |  |  | $ | — |
Forfeited |  |  | (396 | ) |  | $ | 47.42 |  |  |  | (250 | ) |  | $ | 50.35 |
Restricted Shares as of March 31, 2025 |  |  | 25,170 |  |  | $ | 50.85 |  |  |  | 67,380 |  |  | $ | 51.21 |
Schedule of Unvested Restricted Stock Units Roll Forward | The equity and liability portions of Restricted Stock Units activity during the three months ended March 31, 2025 in conjunction with the Stock Plan is presented in the following table:
Restricted Stock Units |  | (Equity Portion) |  |  | (Liability Portion) |
|  | Units |  |  | Weighted Average Stock Price |  |  | Units |  |  | Weighted Average Stock Price |
Restricted Stock Units as of December 31, 2024 |  |  | 36,636 |  |  | $ | 44.15 |  |  |  | 15,701 |  |  | $ | 54.19 |
Restricted Stock Units Granted |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Dividend Equivalents Earned |  |  | 294 |  |  | $ | 56.10 |  |  |  | 126 |  |  | $ | 56.10 |
Restricted Stock Units Settled |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Restricted Stock Units as of March 31, 2025 |  |  | 36,930 |  |  | $ | 44.25 |  |  |  | 15,827 |  |  | $ | 57.69 |
Schedule of Earnings Per Share, Basic and Diluted | The following table reconciles basic and diluted earnings per share:
|  | Three Months Ended |
Earnings Per Share (millions, except shares and per share data) |  | March 31, 2025 |
Net Income |  | $ | 27.5 |
Less allocation of earnings and dividends to participating securities |  |  | 0.2 |
Net income allocated to common shareholders |  | $ | 27.3 |
Weighted average common shares outstanding, gross |  |  | 16,263,313 |
Less average participating securities |  |  | 108,377 |
Weighted average number of shares outstanding used in the calculation of basic earnings per share |  |  | 16,154,936 |
Add dilutive effect of: |  |  |
Restricted stock and restricted stock units |  |  | 3,639 |
Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share |  |  | 16,158,575 |
Earnings per common share: |  |  |
Basic |  | $ | 1.69 |
Diluted |  | $ | 1.69 |

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