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Earnings Per Common Share | 3 Months Ended
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Mar. 31, 2025
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:
| For the Three Months Ended March 31, |  |
(in thousands, except share amounts) | 2025 |  | 2024 |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income - basic | $ | 10,352 |  |  | $ | 8,188 |  |  |  |  |
Net income - diluted | $ | 10,352 |  |  | $ | 8,188 |  |  |  |  |
Denominator: |  |  |  |  |  |  |
Weighted average shares outstanding - basic | 6,777,332 |  |  | 7,050,048 |  |  |  |  |
Plus: Effect of Director Compensation Program | 319 |  |  | 452 |  |  |  |  |
Plus: Effect of restricted stock | 19,056 |  |  | 16,209 |  |  |  |  |
Weighted average shares outstanding - diluted | 6,796,707 |  |  | 7,066,709 |  |  |  |  |
Earnings per common share: |  |  |  |  |  |  |
Basic | $ | 1.53 |  |  | $ | 1.16 |  |  |  |  |
Diluted | $ | 1.52 |  |  | $ | 1.16 |  |  |  |  |

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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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