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Earnings per Common Share (Tables) | 9 Months Ended
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Sep. 30, 2024
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 nine months ended September 30, 2024 and September 30, 2023.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Basic |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 8,366 |  |  | $ | 10,387 |  |  | $ | 21,790 |  |  | $ | 33,309 |
Less allocation of earnings and dividends to participating securities |  |  | 177 |  |  |  | 388 |  |  |  | 455 |  |  |  | 1,220 |
Net income available to common shareholders—basic |  | $ | 8,189 |  |  | $ | 9,999 |  |  | $ | 21,335 |  |  | $ | 32,089 |
Weighted average common shares outstanding |  |  | 15,736,966 |  |  |  | 15,735,007 |  |  |  | 15,720,714 |  |  |  | 15,747,648 |
Less average participating securities |  |  | 332,531 |  |  |  | 588,715 |  |  |  | 328,447 |  |  |  | 576,902 |
Weighted average number of shares outstanding used in the calculation of basic earnings per common share |  |  | 15,404,435 |  |  |  | 15,146,292 |  |  |  | 15,392,267 |  |  |  | 15,170,746 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.53 |  |  | $ | 0.66 |  |  | $ | 1.39 |  |  | $ | 2.12 |
Diluted |  |  | 0.53 |  |  |  | 0.66 |  |  |  | 1.39 |  |  |  | 2.12 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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