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Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Calculation of Basic Earnings Per Share

 

 

(in thousands of dollars)

 

 

(in thousands of dollars)

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2022

 

 

June 30, 2021

 

 

June 30, 2022

 

 

June 30, 2021

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

8,271

 

 

$

4,983

 

 

$

16,373

 

 

$

9,892

 

Less: distributed earnings allocated to participating

   securities

 

 

(21

)

 

 

(14

)

 

 

(42

)

 

 

(29

)

Less: undistributed earnings allocated to participating

   securities

 

 

(48

)

 

 

(23

)

 

 

(96

)

 

 

(46

)

Net earnings available to common shareholders

 

$

8,202

 

 

$

4,946

 

 

$

16,235

 

 

$

9,817

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding including

   participating securities

 

 

13,065,975

 

 

 

11,191,043

 

 

 

13,066,123

 

 

 

11,194,011

 

Less: average unvested restricted shares

 

 

(108,849

)

 

 

(84,125

)

 

 

(110,004

)

 

 

(85,353

)

Weighted average common shares outstanding

 

 

12,957,126

 

 

 

11,106,918

 

 

 

12,956,119

 

 

 

11,108,658

 

Basic and diluted earnings per share

 

$

0.63

 

 

$

0.44

 

 

$

1.25

 

 

$

0.88