| Schedule of Earnings Per Share, Basic and Diluted |
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 | | | | | | | | | | | | | | |
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