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Earnings per Common Share (Tables)
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2025 and June 30, 2024.

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

11,015

 

 

$

7,064

 

 

$

21,183

 

 

$

13,424

 

Less allocation of earnings and dividends to participating securities

 

 

45

 

 

 

266

 

 

 

72

 

 

 

492

 

Net income available to common shareholders—basic

 

$

10,970

 

 

$

6,798

 

 

$

21,111

 

 

$

12,932

 

Weighted average common shares outstanding

 

 

15,524,490

 

 

 

15,729,049

 

 

 

15,506,750

 

 

 

15,712,499

 

Less average participating securities

 

 

96,692

 

 

 

591,712

 

 

 

81,784

 

 

 

576,528

 

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

 

 

15,427,798

 

 

 

15,137,337

 

 

 

15,424,966

 

 

 

15,135,971

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.71

 

 

$

0.45

 

 

$

1.37

 

 

$

0.85

 

Diluted

 

 

0.71

 

 

 

0.45

 

 

 

1.37

 

 

 

0.85