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Common Stock and Earnings per Share (Tables) | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Schedule of Common Stock Outstanding Roll Forward | The table below shows activity in the outstanding shares of the Company’s common stock during 2023.
| 2023
Shares outstanding at January 1 | 13,669,656 |
Issuance of common stock: |
Employee restricted stock grants | 12,780 |
Employee restricted stock units vested | 9,843 |
Performance-based stock vested | 15,646 |
Employee SARs exercised | 2,974 |
Directors’ stock grants | 22,415 |
Shares repurchased | (150,541) |
Shares forfeited | (398) |
Shares outstanding at December 31 | 13,582,375 |
Schedule of Earnings Per Share, Basic and Diluted | The calculations of basic and diluted earnings per share are as follows:
| December 31,
(In thousands except share and per share data) | 2023 |  | 2022 |  | 2021
Basic: |  |  |  |  |
Net income | $ | 30,059 |  |  | $ | 34,904 |  |  | $ | 28,604 |
Weighted average common shares outstanding | 13,530,005 |  |  | 13,552,503 |  |  | 14,091,773 |
Basic earnings per share | $ | 2.22 |  |  | $ | 2.58 |  |  | $ | 2.03 |
Diluted: |  |  |  |  |
Net income | $ | 30,059 |  |  | $ | 34,904 |  |  | $ | 28,604 |
Weighted average common shares outstanding | 13,530,005 |  |  | 13,552,503 |  |  | 14,091,773 |
Effect of dilutive restricted stock, performance based restricted stock (“PBRS”), and SARs | 286,011 |  |  | 255,526 |  |  | 238,103 |
Weighted average common shares outstanding assuming dilution | 13,816,016 |  |  | 13,808,029 |  |  | 14,329,876 |
Diluted earnings per share | $ | 2.18 |  |  | $ | 2.53 |  |  | $ | 2.00 |

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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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