Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings per Share (EPS)

The following table sets forth the computation of basic and diluted EPS for the six months ended June 30, 2024 and 2023:

	Income (Numerator)		Shares (Denominator)	Per-Share Amount
For the six months ended June 30, 2024
Net income as reported	$	12,192,000
Basic EPS: Income available to common shareholders	12,192,000		11,041,483	$	1.10
Effect of dilutive securities: restricted stock			87,023
Diluted EPS: Income available to common shareholders plus assumed conversions	$	12,192,000	11,128,506	$	1.10
For the six months ended June 30, 2023
Net income as reported	$	15,365,000
Basic EPS: Income available to common shareholders	15,365,000		10,995,399	$	1.40
Effect of dilutive securities: restricted stock			83,888
Diluted EPS: Income available to common shareholders plus assumed conversions	$	15,365,000	11,079,287	$	1.39

The following table sets forth the computation of basic and diluted EPS for the quarters ended June 30, 2024 and 2023:

	Income (Numerator)		Shares (Denominator)	Per-Share Amount
For the quarter ended June 30, 2024
Net income as reported	$	6,171,000
Basic EPS: Income available to common shareholders	6,171,000		11,049,110	$	0.56
Effect of dilutive securities: restricted stock			88,081
Diluted EPS: Income available to common shareholders plus assumed conversions	$	6,171,000	11,137,191	$	0.55
For the quarter ended June 30, 2023
Net income as reported	$	7,394,000
Basic EPS: Income available to common shareholders	7,394,000		10,989,302	$	0.67
Effect of dilutive securities: restricted stock			83,501
Diluted EPS: Income available to common shareholders plus assumed conversions	$	7,394,000	11,072,803	$	0.67