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Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

 

 

 

Quarters Ended
March 31,

 

(Dollars in thousands, except share and per share data)

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

Net income

 

$

11,366

 

 

$

2,494

 

Less: preferred stock distributions

 

 

110

 

 

 

110

 

Net income available to common shareholders

 

$

11,256

 

 

$

2,384

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

Weighted average shares for basic earnings per share

 

 

13,579,210

 

 

 

13,670,732

 

Non-vested restricted stock units

 

 

47,335

 

 

 

103,407

 

Options

 

 

60,867

 

 

 

155,007

 

Weighted average shares for diluted earnings per share

 

 

13,687,412

 

 

 

13,929,146

 

 

 

 

 

 

 

 

Earnings per share - Basic

 

$

0.83

 

 

$

0.17

 

Earnings per share - Diluted

 

$

0.82

 

 

$

0.17