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Earnings Per Common Share ("EPS") (Tables) | 6 Months Ended
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Jun. 30, 2024
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 June 30, |  |  | Six months ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net income available to common shareholders |  | $ | 25,265 |  |  | $ | 14,009 |  |  | $ | 26,970 |  |  | $ | 25,733 |
Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Total shares issued |  |  | 16,100 |  |  |  | 16,100 |  |  |  | 16,100 |  |  |  | 16,100 |
Unvested restricted stock awards |  |  | (10 | ) |  |  | (7 | ) |  |  | (10 | ) |  |  | (10 | )
Treasury shares |  |  | (646 | ) |  |  | (721 | ) |  |  | (666 | ) |  |  | (734 | )
Total basic weighted average common shares outstanding |  |  | 15,444 |  |  |  | 15,372 |  |  |  | 15,424 |  |  |  | 15,356 |
Incremental shares from assumed: |  |  |  |  |  |  |  |  |  |  |  |
Vesting of restricted stock awards |  |  | 112 |  |  |  | 41 |  |  |  | 127 |  |  |  | 71 |
Total diluted weighted average common shares outstanding |  |  | 15,556 |  |  |  | 15,413 |  |  |  | 15,551 |  |  |  | 15,427 |
Basic earnings per common share |  | $ | 1.64 |  |  | $ | 0.91 |  |  | $ | 1.75 |  |  | $ | 1.68 |
Diluted earnings per common share |  | $ | 1.62 |  |  | $ | 0.91 |  |  | $ | 1.73 |  |  | $ | 1.67 |
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 June 30, |  |  | Six months ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Restricted stock awards |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | — |

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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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