Earnings Per Share (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2024 and 2023:

	Income (Numerator)		Shares (Denominator)	Per-Share Amount
For the nine months ended September 30, 2024
Net income as reported	$	19,763,000
Basic EPS: Income available to common shareholders	19,763,000		11,046,986	$	1.79
Effect of dilutive securities: restricted stock			87,102
Diluted EPS: Income available to common shareholders plus assumed conversions	$	19,763,000	11,134,088	$	1.78
For the nine months ended September 30, 2023
Net income as reported	$	22,839,000
Basic EPS: Income available to common shareholders	22,839,000		10,993,406	$	2.08
Effect of dilutive securities: restricted stock			84,089
Diluted EPS: Income available to common shareholders plus assumed conversions	$	22,839,000	11,077,495	$	2.06

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

	Income (Numerator)		Shares (Denominator)	Per-Share Amount
For the quarter ended September 30, 2024
Net income as reported	$	7,571,000
Basic EPS: Income available to common shareholders	7,571,000		11,057,872	$	0.69
Effect of dilutive securities: restricted stock			87,259
Diluted EPS: Income available to common shareholders plus assumed conversions	$	7,571,000	11,145,131	$	0.68
For the quarter ended September 30, 2023
Net income as reported	$	7,474,000
Basic EPS: Income available to common shareholders	7,474,000		11,003,987	$	0.68
Effect of dilutive securities: restricted stock			83,146
Diluted EPS: Income available to common shareholders plus assumed conversions	$	7,474,000	11,087,133	$	0.67