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Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings per Share (EPS)
The following table sets forth the computation of basic and diluted EPS for the nine months ended September 30, 2023 and 2022:
Income (Numerator)Shares (Denominator)Per-Share Amount
For the nine months ended September 30, 2023
Net income as reported$22,839,000 
Basic EPS: Income available to common shareholders22,839,000 10,993,406 $2.08 
Effect of dilutive securities: restricted stock84,089 
Diluted EPS: Income available to common shareholders plus assumed conversions$22,839,000 11,077,495 $2.06 
For the nine months ended September 30, 2022
Net income as reported$29,793,000 
Basic EPS: Income available to common shareholders29,793,000 10,927,920 $2.73 
Effect of dilutive securities: restricted stock98,651 
Diluted EPS: Income available to common shareholders plus assumed conversions$29,793,000 11,026,571 $2.70 
The following table sets forth the computation of basic and diluted EPS for the quarters ended September 30, 2023 and 2022:
Income (Numerator)Shares (Denominator)Per-Share Amount
For the quarter ended September 30, 2023
Net income as reported$7,474,000 
Basic EPS: Income available to common shareholders7,474,000 11,003,987 $0.68 
Effect of dilutive securities: restricted stock83,146 
Diluted EPS: Income available to common shareholders plus assumed conversions$7,474,000 11,087,133 $0.67 
For the quarter ended September 30, 2022
Net income as reported$10,091,000 
Basic EPS: Income available to common shareholders10,091,000 10,934,492 $0.92 
Effect of dilutive securities: restricted stock100,899 
Diluted EPS: Income available to common shareholders plus assumed conversions$10,091,000 11,035,391 $0.91