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Earnings Per Common Share ("EPS") | 6 Months Ended
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Jun. 30, 2025
Earnings Per Share [Abstract] |
Earnings Per Common Share ("EPS") | (2.) 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). All outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends are considered participating securities. There were no participating securities outstanding for the three and six months ended June 30, 2025 and 2024. Therefore, the two-class method of calculating basic and diluted EPS was not applicable for the periods presented.
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Net income available to common shareholders |  | $ | 17,168 |  |  | $ | 25,265 |  |  | $ | 33,681 |  |  | $ | 26,970 |
Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Total shares issued |  |  | 20,700 |  |  |  | 16,100 |  |  |  | 20,700 |  |  |  | 16,100 |
Unvested restricted stock awards |  |  | (10 | ) |  |  | (10 | ) |  |  | (10 | ) |  |  | (10 | )
Treasury shares |  |  | (583 | ) |  |  | (646 | ) |  |  | (600 | ) |  |  | (666 | )
Total basic weighted average common shares outstanding |  |  | 20,107 |  |  |  | 15,444 |  |  |  | 20,090 |  |  |  | 15,424 |
Incremental shares from assumed: |  |  |  |  |  |  |  |  |  |  |  |
Vesting of restricted stock awards |  |  | 187 |  |  |  | 112 |  |  |  | 201 |  |  |  | 127 |
Total diluted weighted average common shares outstanding |  |  | 20,294 |  |  |  | 15,556 |  |  |  | 20,291 |  |  |  | 15,551 |
Basic earnings per common share |  | $ | 0.85 |  |  | $ | 1.64 |  |  | $ | 1.68 |  |  | $ | 1.75 |
Diluted earnings per common share |  | $ | 0.85 |  |  | $ | 1.62 |  |  | $ | 1.66 |  |  | $ | 1.73 |
On December 13, 2024, the Company completed an underwritten public offering of 4,600,000 common shares at $25.00 per share. For the three and six months ended June 30, 2025 and 2024, no average shares were excluded from the computation of diluted EPS because the effect would be antidilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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