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Earnings Per Common Share (Tables) | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Computations of Earnings per Common Share | Earnings per share for the three and six months ended June 30, 2024 and 2023 were calculated as follows (dollars in thousands, except share and per share data):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Net income | $ | 925 |  |  | 4,694 |  |  | 2,840 |  |  | 8,851 |
Less allocation of earnings and dividends to participating securities | 6 |  |  | 33 |  |  | 18 |  |  | 63 |
Net income allocated to common shareholders | $ | 919 |  |  | 4,661 |  |  | 2,822 |  |  | 8,788 |
Weighted average common shares outstanding, gross | 14,117,857 |  |  | 11,135,325 |  |  | 13,695,447 |  |  | 11,202,300 |
Less average participating securities | 84,593 |  |  | 79,017 |  |  | 84,593 |  |  | 79,929 |
Adjusted weighted average number of shares outstanding used in the calculation of basic and diluted earnings per common share | 14,033,264 |  |  | 11,056,308 |  |  | 13,610,854 |  |  | 11,122,371 |
Earnings per common share: |  |  |  |  |  |  |
Basic | $ | 0.07 |  |  | 0.42 |  |  | 0.21 |  |  | 0.79 |
Diluted | 0.07 |  |  | 0.42 |  |  | 0.21 |  |  | 0.79 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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