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Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Reconciliation of Earnings and Shares Used in Calculating Basic and Diluted EPS

The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS for each of the years ended December 31 (in thousands, except per share amounts). All outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends are considered participating securities.

		2022				2021				2020
Net income available to common shareholders		$	55,114			$	76,237			$	36,871
Weighted average common shares outstanding:
Total shares issued			16,100				16,100				16,100
Unvested restricted stock awards			(5	)			(5	)			(5	)
Treasury shares			(711	)			(254	)			(73	)
Total basic weighted average common shares outstanding			15,384				15,841				16,022
Incremental shares from assumed:
Exercise of stock options			-				-				-
Vesting of restricted stock awards			87				96				41
Total diluted weighted average common shares outstanding			15,471				15,937				16,063
Basic earnings per common share		$	3.58			$	4.81			$	2.30
Diluted earnings per common share		$	3.56			$	4.78			$	2.30

Shares Excluded from Computation of Diluted EPS

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:

Stock options			-				-				-
Restricted stock awards			1				3				54
Total			1				3				54

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- References

No definition available.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

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