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Earnings Per Share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The computation of basic and diluted earnings per common share is shown below. There were no anti-dilutive stock options for the years ended December 31, 2024, 2023, and 2022.
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Basic earnings per common share computation |  |  |  |  |
Net income per consolidated statements of income | $ | 50,273 |  |  | $ | 53,718 |  |  | $ | 58,886 |
Net earnings allocated to participating securities | (388) |  |  | (283) |  |  | (229) |
Net earnings allocated to common stock | $ | 49,885 |  |  | $ | 53,435 |  |  | $ | 58,657 |
Distributed earnings allocated to common stock | $ | 14,785 |  |  | $ | 14,607 |  |  | $ | 12,508 |
Undistributed earnings allocated to common stock | 35,100 |  |  | 38,828 |  |  | 46,149 |
Net earnings allocated to common stock | $ | 49,885 |  |  | $ | 53,435 |  |  | $ | 58,657 |
Weighted average common shares outstanding, including shares considered participating securities | 20,993 |  |  | 21,010 |  |  | 18,057 |
Less: Average participating securities | (155) |  |  | (106) |  |  | (70) |
Weighted average shares | 20,838 |  |  | 20,904 |  |  | 17,987 |
Basic earnings per common share | $ | 2.39 |  |  | $ | 2.56 |  |  | $ | 3.26 |
Diluted earnings per common share computation |  |  |  |  |
Net earnings allocated to common stock | $ | 49,885 |  |  | $ | 53,435 |  |  | $ | 58,657 |
Weighted average common shares outstanding for basic earnings per common share | 20,838 |  |  | 20,904 |  |  | 17,987 |
Add: Dilutive effects of performance based-shares | 62 |  |  | 40 |  |  | 33 |
Weighted average shares and dilutive potential common shares | 20,900 |  |  | 20,944 |  |  | 18,020 |
Diluted earnings per common share | $ | 2.39 |  |  | $ | 2.55 |  |  | $ | 3.26 |

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