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Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings per Share (EPS)
The following table provides detail for basic EPS and diluted EPS for the years ended December 31, 2024, 2023 and 2022:
Income
(Numerator)
Shares
(Denominator)
Per-Share
Amount
For the year ended December 31, 2024
Net income as reported$27,045,000 
Basic EPS: Income available to common shareholders27,045,000 11,051,829 $2.45 
Effect of dilutive securities: restricted stock 87,006 
Diluted EPS: Income available to common shareholders plus assumed conversions$27,045,000 11,138,835 $2.43 
For the year ended December 31, 2023
Net income as reported$29,518,000 
Basic EPS: Income available to common shareholders29,518,000 10,998,041 $2.68 
Effect of dilutive securities: restricted stock 83,847 
Diluted EPS: Income available to common shareholders plus assumed conversions$29,518,000 11,081,888 $2.66 
For the year ended December 31, 2022
Net income as reported$38,990,000 
Basic EPS: Income available to common shareholders38,990,000 10,931,328 $3.56 
Effect of dilutive securities: restricted stock 99,330 
Diluted EPS: Income available to common shareholders plus assumed conversions$38,990,000 11,030,658 $3.53