XML 46 R36.htm IDEA: XBRL DOCUMENT v3.23.3
Earnings per Common Share (Tables)
 9 Months Ended
Sep. 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 September 30, 2023 and 2022.

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

10,387

 

 

$

11,112

 

 

$

33,309

 

 

$

27,279

 

Less allocation of earnings and dividends to participating securities

 

 

388

 

 

 

52

 

 

 

1,220

 

 

 

123

 

Net income available to common shareholders—basic

 

$

9,999

 

 

$

11,060

 

 

$

32,089

 

 

$

27,156

 

Weighted average common shares outstanding

 

 

15,735,007

 

 

 

15,394,898

 

 

 

15,747,648

 

 

 

14,974,862

 

Less average participating securities

 

 

588,715

 

 

 

71,604

 

 

 

576,902

 

 

 

67,323

 

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

 

 

15,146,292

 

 

 

15,323,294

 

 

 

15,170,746

 

 

 

14,907,539

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.66

 

 

$

0.72

 

 

$

2.12

 

 

$

1.82

 

Diluted

 

 

0.66

 

 

 

0.72

 

 

 

2.12

 

 

 

1.82