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Shareholders’ Equity (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Earnings Per Share


Table 7.1: EPS
						Three months ended												Six months ended
(in thousands, except share count and earnings per common share)						June 30, 2024						June 30, 2023						June 30, 2024						June 30, 2023
Net income						$	10,782					$	12,729					$	21,413					$	25,890

Basic weighted average common shares outstanding						21,039,798						17,165,344						19,115,333						17,157,801
Add: Dilutive effects of assumed vesting of restricted stock						18,287						3,651						50,207						24,067
Total dilutive weighted average common shares outstanding						21,058,085						17,168,995						19,165,540						17,181,868
Earnings per common share:
Basic EPS						$	0.51					$	0.74					$	1.12					$	1.51
Diluted EPS						$	0.51					$	0.74					1.12						1.51

Nonvested Restricted Stock Shares

Table 7.2 summarizes activity related to restricted shares for the periods indicated.


Table 7.2: Restricted Share Activity
						For the three months ended June 30,																								For the six months ended June 30,
						2024												2023												2024												2023
						Shares						Weighted Average Grant Date Fair Value						Shares						Weighted Average Grant Date Fair Value						Shares						Weighted Average Grant Date Fair Value						Shares						Weighted Average Grant Date Fair Value
Beginning of the period balance						162,348						$	21.22					108,363						$	21.43					69,338						$	20.53					96,826						$	20.34
Shares granted						—						—						—						—						96,380						21.97						16,978						28.52
Shares vested						(23,723)						20.00						(24,492)						20.00						(26,975)						21.03						(29,933)						20.78
Shares forfeited						(1,168)						21.69						(1,547)						26.95						(1,286)						21.54						(1,547)						26.95
End of the period balance						137,457						$	21.43					82,324						$	21.75					137,457						$	21.43					82,324						$	21.75