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Earnings per Common Share (Tables)
 6 Months Ended
Jun. 30, 2023
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-months ended June 30, 2023 and 2022.

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

10,034

 

 

$

7,701

 

 

$

22,922

 

 

$

16,167

 

Less allocation of earnings and dividends to participating securities

 

 

374

 

 

 

39

 

 

 

831

 

 

 

71

 

Net income available to common shareholders—basic

 

$

9,660

 

 

$

7,662

 

 

$

22,091

 

 

$

16,096

 

Weighted average common shares outstanding

 

 

15,775,812

 

 

 

14,615,154

 

 

 

15,754,073

 

 

 

14,761,363

 

Less average participating securities

 

 

588,715

 

 

 

74,286

 

 

 

570,897

 

 

 

65,146

 

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

 

 

15,187,097

 

 

 

14,540,868

 

 

 

15,183,176

 

 

 

14,696,217

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.64

 

 

$

0.53

 

 

$

1.45

 

 

$

1.10

 

Diluted

 

 

0.64

 

 

 

0.53

 

 

 

1.45

 

 

 

1.10