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Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Calculation of Basic and Diluted Earnings Per Share

The table below presents basic and diluted earnings per share for the years ended December 31, 2024, 2023, and 2022.

 

 

 

(In Thousands, Except Per Share Data)

 

 

 

Year Ended

 

 

 

December 31,

 

 

December 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Earnings per share

 

 

 

 

 

 

 

 

 

Net income

 

$

25,938

 

 

$

22,787

 

 

$

32,515

 

Less: distributed earnings allocated to
   participating securities

 

 

(143

)

 

 

(128

)

 

 

(97

)

Less: undistributed earnings allocated to
   participating securities

 

 

(362

)

 

 

(120

)

 

 

(187

)

Net earnings available to common
   shareholders

 

$

25,433

 

 

$

22,539

 

 

$

32,231

 

Weighted average common shares outstanding
   including participating securities

 

 

13,684,961

 

 

 

13,641,336

 

 

 

13,206,713

 

Less: average unvested restricted shares

 

 

(266,232

)

 

 

(148,433

)

 

 

(115,291

)

Weighted average common shares outstanding

 

 

13,418,729

 

 

 

13,492,903

 

 

 

13,091,422

 

Basic and diluted earnings per share

 

$

1.90

 

 

$

1.67

 

 

$

2.46