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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Calculation of Basic Earnings Per Share

The table below presents basic and diluted earnings per share for the years ended December 31, 2021, 2020, and 2019.

 

 

 

Year Ended

 

 

 

December 31,

 

 

December 31,

 

 

December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

23,495

 

 

$

20,095

 

 

$

18,402

 

Less: distributed earnings allocated to

   participating securities

 

 

(70

)

 

 

(57

)

 

 

(51

)

Less: undistributed earnings allocated to

   participating securities

 

 

(121

)

 

 

(96

)

 

 

(87

)

Net earnings available to common shareholders

 

$

23,304

 

 

$

19,942

 

 

$

18,264

 

Weighted average common shares outstanding

   including participating securities

 

 

11,664,852

 

 

 

11,146,270

 

 

 

11,113,810

 

Less: average unvested restricted shares

 

 

(94,634

)

 

 

(84,879

)

 

 

(83,369

)

Weighted average common shares outstanding

 

 

11,570,218

 

 

 

11,061,391

 

 

 

11,030,441

 

Basic and diluted earnings per share

 

$

2.01

 

 

$

1.80

 

 

$

1.66