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Earnings Per Common Share ("EPS") | 9 Months Ended
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Sep. 30, 2022
Earnings Per Share [Abstract] |
Earnings Per Common Share ("EPS") | (4.) EARNINGS PER COMMON SHARE (“EPS”) The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS (in thousands, except per share amounts).
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Net income available to common shareholders |  | $ | 13,489 |  |  | $ | 16,811 |  |  | $ | 43,390 |  |  | $ | 56,990 |
Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Total shares issued |  |  | 16,100 |  |  |  | 16,100 |  |  |  | 16,100 |  |  |  | 16,100 |
Unvested restricted stock awards |  |  | (6 | ) |  |  | (5 | ) |  |  | (5 | ) |  |  | (6 | )
Treasury shares |  |  | (765 | ) |  |  | (258 | ) |  |  | (692 | ) |  |  | (244 | )
Total basic weighted average common shares outstanding |  |  | 15,329 |  |  |  | 15,837 |  |  |  | 15,403 |  |  |  | 15,850 |
Incremental shares from assumed: |  |  |  |  |  |  |  |  |  |  |  |
Vesting of restricted stock awards |  |  | 64 |  |  |  | 99 |  |  |  | 81 |  |  |  | 90 |
Total diluted weighted average common shares outstanding |  |  | 15,393 |  |  |  | 15,936 |  |  |  | 15,484 |  |  |  | 15,940 |
Basic earnings per common share |  | $ | 0.88 |  |  | $ | 1.06 |  |  | $ | 2.82 |  |  | $ | 3.60 |
Diluted earnings per common share |  | $ | 0.88 |  |  | $ | 1.05 |  |  | $ | 2.80 |  |  | $ | 3.58 |
For each of the periods presented, average shares subject to the following instruments were excluded from the computation of diluted EPS because the effect would be antidilutive (in thousands):
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Stock option |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Restricted stock awards |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | 4 |
Total |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | 4 |

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