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Earnings per Share (Tables)
 3 Months Ended
Mar. 31, 2024
Earnings per Share [Abstract]  
Computation of Earnings per Share

The following table sets forth the computation of earnings per share.

 
Three months ended
  
   
March 31,
  
   
2024
    
2023
  
Net income applicable to common stock
  
$
7,024,000
    
$
6,867,000
  
                 
Basic earnings per share computation
                
Weighted average common shares outstanding
    
4,701,853
      
4,005,370
  
Earnings per share - basic
  
$
1.49
    
$
1.71
  
                 
Diluted earnings per share computation
                
Weighted average common shares outstanding for basic earnings per share
    
4,701,853
      
4,005,370
  
Add: Dilutive effects of restricted stock
    
-
      
5
  
Weighted average common shares outstanding for dilutive earnings per share
    
4,701,853
      
4,005,375
  
Earnings per share - diluted
  
$
1.49
    
$
1.71