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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Calculation of Basic Earnings Per Share

 

 

(In thousands of dollars, except per share data)

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2023

 

 

June 30, 2022

 

 

June 30, 2023

 

 

June 30, 2022

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

6,001

 

 

$

8,271

 

 

$

12,467

 

 

$

16,373

 

Less: distributed earnings allocated to participating
   securities

 

 

(31

)

 

 

(21

)

 

 

(62

)

 

 

(42

)

Less: undistributed earnings allocated to participating
   securities

 

 

(35

)

 

 

(48

)

 

 

(69

)

 

 

(96

)

Net earnings available to common shareholders

 

$

5,935

 

 

$

8,202

 

 

$

12,336

 

 

$

16,235

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding including
   participating securities

 

 

13,632,440

 

 

 

13,065,975

 

 

 

13,624,094

 

 

 

13,066,123

 

Less: average unvested restricted shares

 

 

(150,065

)

 

 

(108,849

)

 

 

(143,163

)

 

 

(110,004

)

Weighted average common shares outstanding

 

 

13,482,375

 

 

 

12,957,126

 

 

 

13,480,931

 

 

 

12,956,119

 

Basic and diluted earnings per share

 

$

0.44

 

 

$

0.63

 

 

$

0.92

 

 

$

1.25