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Earnings per Common Share (Tables)
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings per Common Share Diluted earnings per common share include the dilutive effect, if any, of additional potential common shares issuable under the Company’s equity incentive plan, computed using the treasury stock method.  The Company had no dilutive securities for the three- and six-months ended June 30, 2022 and 2021.

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

7,701

 

 

$

9,164

 

 

$

16,167

 

 

$

19,922

 

Less allocation of earnings and dividends to participating securities

 

 

39

 

 

 

42

 

 

 

71

 

 

 

76

 

Net income available to common shareholders—basic

 

$

7,662

 

 

$

9,122

 

 

$

16,096

 

 

$

19,846

 

Weighted average common shares outstanding

 

 

14,615,154

 

 

 

15,602,329

 

 

 

14,761,363

 

 

 

15,734,226

 

Less average participating securities

 

 

74,286

 

 

 

72,563

 

 

 

65,146

 

 

 

59,995

 

Weighted average number of shares outstanding used in the calculation of basic earnings per common share

 

 

14,540,868

 

 

 

15,529,766

 

 

 

14,696,217

 

 

 

15,674,231

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.53

 

 

$

0.59

 

 

$

1.10

 

 

$

1.27

 

Diluted

 

 

0.53

 

 

 

0.59

 

 

 

1.10

 

 

 

1.27