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Earnings Per Common Share ("EPS") (Tables)

9 Months Ended

Sep. 30, 2023

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 (in thousands, except per share amounts).

		Three months ended September 30,								Nine months ended September 30,
		2023				2022				2023				2022
Net income available to common shareholders		$	13,657			$	13,489			$	39,390			$	43,390
Weighted average common shares outstanding:
Total shares issued			16,100				16,100				16,100				16,100
Unvested restricted stock awards			(11	)			(6	)			(8	)			(5	)
Treasury shares			(698	)			(765	)			(721	)			(692	)
Total basic weighted average common shares outstanding			15,391				15,329				15,371				15,403
Incremental shares from assumed:
Vesting of restricted stock awards			71				64				72				81
Total diluted weighted average common shares outstanding			15,462				15,393				15,443				15,484
Basic earnings per common share		$	0.89			$	0.88			$	2.56			$	2.82
Diluted earnings per common share		$	0.88			$	0.88			$	2.55			$	2.80

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 (in thousands):

		Three months ended September 30,								Nine months ended September 30,
		2023				2022				2023				2022
Restricted stock awards			—				1				—				1

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- References

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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

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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

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