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Earnings Per Share (Tables) | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share, Basic and Diluted | The following table sets forth the computation of the basic and diluted earnings per share (in thousands, except per share data):
| Three months ended June 30, |  | Six months ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Numerator for basic and diluted earnings per share: |  |  |  |  |  |  |
Net income | $ | 6,259 |  |  | $ | 8,286 |  |  | $ | 13,232 |  |  | $ | 17,130 |
Less: Earnings allocated to unvested restricted stock | (93) |  |  | (79) |  |  | (194) |  |  | (150) |
Income attributable to common stockholders | $ | 6,166 |  |  | $ | 8,207 |  |  | $ | 13,038 |  |  | $ | 16,980 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per common share – weighted average shares outstanding | 14,965 |  |  | 14,793 |  |  | 14,920 |  |  | 14,776 |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock options | 22 |  |  | 50 |  |  | 20 |  |  | 74 |
Performance awards | 416 |  |  | 611 |  |  | 416 |  |  | 611 |
Denominator for diluted earnings per common share – weighted average shares outstanding | 15,403 |  |  | 15,454 |  |  | 15,356 |  |  | 15,461 |
Basic earnings per common share: | $ | 0.41 |  |  | $ | 0.55 |  |  | $ | 0.87 |  |  | $ | 1.14 |
Diluted earnings per common share: | $ | 0.40 |  |  | $ | 0.53 |  |  | $ | 0.85 |  |  | $ | 1.10 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | Stock options excluded from the computation of diluted earnings per share because the inclusion of such stock options would result in an antidilutive effect are as follows (in thousands):
| Three months ended June 30, |  | Six months ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Antidilutive stock options | 1,433 |  |  | 1,236 |  |  | 1,456 |  |  | 1,183 |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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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 + Details
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