XML 40 R26.htm IDEA: XBRL DOCUMENT
v3.24.0.1

EARNINGS PER SHARE | 12 Months Ended
--- | ---
Dec. 31, 2023
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE The Company has granted certain restricted stock units that contain non-forfeitable rights to dividend equivalents. Such restricted stock units are considered participating securities. As such, we have included these restricted stock units in the calculation of basic earnings per share and calculate basic earnings per share using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. Diluted earnings per share is computed using the treasury stock method and reflects the potential dilution from the Company’s outstanding restricted stock units and performance restricted stock units. The following table sets forth the computation of basic and diluted earnings per share:
|  |  | Year Ended December 31,
(dollars in thousands) |  |  |  |  | 2023 |  | 2022 |  | 2021
Numerator: |  |  |  |  |  |  |  |  |
Net income |  |  |  |  | $ | 65,842 |  |  | $ | 56,456 |  |  | $ | 56,271 |
Earnings allocated to participating securities |  |  |  |  | (36) |  |  | (66) |  |  | (104) |
Numerator for earnings per share - basic and diluted |  |  |  |  | $ | 65,806 |  |  | $ | 56,390 |  |  | $ | 56,167 |
Denominator: |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding |  |  |  |  | 31,626,308 |  | 28,853,697 |  | 27,795,806
Dilutive effect of outstanding restricted stock units |  |  |  |  | 111,839 |  | 65,619 |  | 15,487
Weighted average common shares outstanding, including all dilutive potential shares |  |  |  |  | 31,738,147 |  | 28,919,316 |  | 27,811,293
Earnings per share - Basic |  |  |  |  | $ | 2.08 |  |  | $ | 1.95 |  |  | $ | 2.02 |
Earnings per share - Diluted |  |  |  |  | $ | 2.07 |  |  | $ | 1.95 |  |  | $ | 2.02 |

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