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Earnings Per Common Share (Tables) | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share | The computations of basic and diluted earnings per common share for the Company were as follows:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
(in thousands, except share amounts) | 2024 |  | 2023 |  | 2024 |  | 2023
Numerator: |  |  |  |  |  |  |
Net income - basic | $ | 8,754 |  |  | $ | 8,021 |  |  | $ | 24,929 |  |  | $ | 26,587 |
Net income - diluted | $ | 8,754 |  |  | $ | 8,021 |  |  | $ | 24,929 |  |  | $ | 26,587 |
Denominator: |  |  |  |  |  |  |
Weighted average shares outstanding - basic | 6,851,223 |  |  | 7,168,413 |  |  | 6,932,137 |  |  | 7,176,219 |
Plus: Effect of Director Compensation Program | 173 |  |  | 170 |  |  | 981 |  |  | 651 |
Plus: Effect of restricted stock | 16,078 |  |  | 11,501 |  |  | 16,078 |  |  | 11,501 |
Weighted average shares outstanding - diluted | 6,867,474 |  |  | 7,180,084 |  |  | 6,949,196 |  |  | 7,188,371 |
Earnings per common share: |  |  |  |  |  |  |
Basic | $ | 1.28 |  |  | $ | 1.12 |  |  | $ | 3.60 |  |  | $ | 3.70 |
Diluted | $ | 1.27 |  |  | $ | 1.12 |  |  | $ | 3.59 |  |  | $ | 3.70 |

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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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