v3.24.1.u1

Earnings Per Share | 3 Months Ended
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Mar. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following table presents the computations of basic and diluted EPS for the periods indicated:
|  | Three Months Ended March 31, |  |
($ in thousands, except per share) |  | 2024 |  | 2023 |  |  |  |
Basic earnings per share: |  |  |  |  |  |  |  |
Net income |  | $ | 4,685 |  |  | $ | 10,297 |  |  |  |  |
Less: income allocated to unvested restricted stock |  | (9) |  |  | (33) |  |  |  |  |
Net income allocated to common stock |  | $ | 4,676 |  |  | $ | 10,264 |  |  |  |  |
Weighted-average total common shares outstanding |  | 14,262,235 |  |  | 14,465,833 |  |  |  |  |
Less: weighted-average unvested restricted stock |  | (26,816) |  |  | (46,678) |  |  |  |  |
Weighted-average common shares outstanding, basic |  | 14,235,419 |  |  | 14,419,155 |  |  |  |  |
Basic earnings per share |  | $ | 0.33 |  |  | $ | 0.71 |  |  |  |  |
Diluted earnings per share: |  |  |  |  |  |  |  |
Net income allocated to common stock |  | $ | 4,676 |  |  | $ | 10,264 |  |  |  |  |
Weighted-average common shares outstanding, basic |  | 14,235,419 |  |  | 14,419,155 |  |  |  |  |
Diluted effect of stock options |  | 94,785 |  |  | 155,774 |  |  |  |  |
Weighted-average common shares outstanding, diluted |  | 14,330,204 |  |  | 14,574,929 |  |  |  |  |
Diluted earnings per share |  | $ | 0.33 |  |  | $ | 0.70 |  |  |  |  |
There were 263,000 and 93,700 stock options excluded in computing diluted EPS because they were anti-dilutive for three months ended March 31, 2024 and 2023, respectively.

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