EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

The Corporation has a simple capital structure. Basic earnings per share of common stock is calculated as net income available to common stockholders divided by the weighted average number of shares outstanding less unvested restricted stock at the end of the period. Diluted earnings per share is calculated as net income available to common stockholders divided by the weighted average number of shares outstanding.

	Years Ended December 31,
	2023		2022
Weighted average shares outstanding (basic)	8,507,803		8,623,012
Unvested shares	28,322		—
Weighted average shares outstanding (diluted)	8,536,125		8,623,012
Per share:
Basic	$	3.72	$	4.15
Diluted	3.71		4.15