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Earnings Per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | 12. Earnings Per Share Earnings per share have been computed using the weighted average number of common shares and common share equivalents outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share:
|  | Quarters Ended September 30, |  |  | Nine Months Ended September 30, |
(Dollars in thousands, except share and per share data) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 12,760 |  |  | $ | 7,700 |  |  | $ | 34,219 |  |  | $ | 19,531 |
Less: preferred stock distributions |  |  | 110 |  |  |  | 110 |  |  |  | 330 |  |  |  | 330 |
Net income available to common shareholders |  | $ | 12,650 |  |  | $ | 7,590 |  |  | $ | 33,889 |  |  | $ | 19,201 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares for basic earnings per share |  |  | 13,664,542 |  |  |  | 13,522,874 |  |  |  | 13,617,960 |  |  |  | 13,556,665 |
Non-vested restricted stock units |  |  | — |  |  |  | 65,609 |  |  |  | — |  |  |  | 57,721 |
Options |  |  | 136,335 |  |  |  | 225,962 |  |  |  | 66,058 |  |  |  | 184,490 |
Weighted average shares for diluted earnings per share |  |  | 13,800,877 |  |  |  | 13,814,445 |  |  |  | 13,684,018 |  |  |  | 13,798,876 |
Earnings per share - Basic |  | $ | 0.93 |  |  | $ | 0.56 |  |  | $ | 2.49 |  |  | $ | 1.42 |
Earnings per share - Diluted |  | $ | 0.92 |  |  | $ | 0.55 |  |  | $ | 2.48 |  |  | $ | 1.39 |
The weighted average shares outstanding used to determine dilutive earnings per share does not include 550,000 options for both the quarter and nine months ended September 30, 2024 and 300,000 and 346,667 options for the quarter and nine months ended September 30, 2023, respectively, which were deemed to be anti-dilutive.

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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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