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Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2024
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 three months ended March 31, 2024 and 2023:
Income (Numerator)Shares (Denominator)Per-Share Amount
For the three months ended March 31, 2024
Net income as reported$6,021,000 
Basic EPS: Income available to common shareholders6,021,000 11,033,857 $0.55 
Effect of dilutive securities: restricted stock85,964 
Diluted EPS: Income available to common shareholders plus assumed conversions$6,021,000 11,119,821 $0.54 
For the three months ended March 31, 2023
Net income as reported$7,971,000 
Basic EPS: Income available to common shareholders7,971,000 10,948,513 $0.73 
Effect of dilutive securities: restricted stock117,734 
Diluted EPS: Income available to common shareholders plus assumed conversions$7,971,000 11,066,247 $0.72