Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2024 and 2023:

	Three Months Ended June 30,				Six Months Ended June 30,
($ in thousands, except share and per share data)	2024		2023		2024		2023
Basic
Net income	$	5,436	$	6,091	$	10,662	$	13,625
Distributed and undistributed earnings allocated to participating securities	(103)		(127)		(201)		(286)
Net income allocated to common shares	$	5,333	$	5,964	$	10,461	$	13,339
Weighted average common shares outstanding	14,868,344		15,158,365		14,930,090		15,221,010
Basic earnings per common share	$	0.36	$	0.39	$	0.70	$	0.88
Diluted
Net income allocated to common shares	$	5,333	$	5,964	$	10,461	$	13,339
Weighted average common shares outstanding for basic earnings per common share	14,868,344		15,158,365		14,930,090		15,221,010
Add: Dilutive effects of assumed exercises of stock options	—		11,429		—		20,893
Average shares and dilutive potential common shares	14,868,344		15,169,794		14,930,090		15,241,903
Diluted earnings per common share	$	0.36	$	0.39	$	0.70	$	0.88