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Earnings Per Common Share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Common Share | Earnings Per Common Share Basic EPS is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, after giving retroactive effect to stock splits. Diluted EPS includes accrued but unissued shares relating to the Director Compensation Program, stock options, and restricted stock determined using the treasury stock method. The dilutive EPS calculation assumes all outstanding stock options to purchase common stock have been exercised at the beginning of the year, and the pro forma proceeds from the exercised options and restricted stock are used to purchase common stock at the average fair market valuation price. The computations of basic and diluted earnings per common share for the Company were as follows:
| Years Ended December 31,
(in thousands, except share amounts) | 2024 |  | 2023 |  | 2022
Numerator: |  |  |  |  |
Net income - basic | $ | 34,235 |  |  | $ | 34,879 |  |  | $ | 36,916 |
Net income - diluted | $ | 34,235 |  |  | $ | 34,879 |  |  | $ | 36,916 |
Denominator: |  |  |  |  |
Weighted average shares outstanding - basic | 6,898,286 |  |  | 7,164,314 |  |  | 7,180,975 |
Plus: Effect of Director Compensation Program | 1,139 |  |  | 741 |  |  | 1,655 |
Plus: Effect of restricted stock | 18,635 |  |  | 16,673 |  |  | 14,823 |
Weighted average shares outstanding - diluted | 6,918,060 |  |  | 7,181,728 |  |  | 7,197,453 |
Earnings per common share: |  |  |  |  |
Basic | $ | 4.96 |  |  | $ | 4.87 |  |  | $ | 5.14 |
Diluted | $ | 4.95 |  |  | $ | 4.86 |  |  | $ | 5.13 |

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