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Earnings per Common Share (Tables)
3 Months Ended
Mar. 31, 2025
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 March 31, 2025 and March 31, 2024.

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2025

 

 

2024

 

Basic

 

 

 

 

 

 

Net income

 

$

10,168

 

 

$

6,360

 

Less allocation of earnings and dividends to participating securities

 

 

44

 

 

 

227

 

Net income available to common shareholders—basic

 

$

10,124

 

 

$

6,133

 

Weighted average common shares outstanding

 

 

15,488,813

 

 

 

15,695,963

 

Less average participating securities

 

 

66,711

 

 

 

561,344

 

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

 

 

15,422,102

 

 

 

15,134,619

 

Earnings per common share:

 

 

 

 

 

 

Basic

 

$

0.66

 

 

$

0.41

 

Diluted

 

 

0.66

 

 

 

0.41