Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Share

The following table presents the calculation of net income applicable to common stockholders and basic and diluted EPS for the three months ended March 31, 2024 and 2023:

	Three Months Ended March 31,
($ in thousands, except share and per share data)	2024		2023
Basic
Net income	$	5,226	$	7,534
Distributed and undistributed earnings allocated to participating securities	(98)		(159)
Net income allocated to common shares	$	5,128	$	7,375
Weighted average common shares outstanding	14,991,835		15,284,350
Basic earnings per common share	$	0.34	$	0.48
Diluted
Net income allocated to common shares	$	5,128	$	7,375
Weighted average common shares outstanding for basic earnings per common share	14,991,835		15,284,350
Add: Dilutive effects of assumed exercises of stock options	—		28,323
Average shares and dilutive potential common shares	14,991,835		15,312,673
Diluted earnings per common share	$	0.34	$	0.48