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Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Calculation of Basic Earnings Per Share

 

 

(in thousands of dollars)

 

 

 

Three Months Ended

 

 

 

March 31, 2022

 

 

March 31, 2021

 

Earnings per share

 

 

 

 

 

 

 

 

Net income

 

$

8,102

 

 

$

4,909

 

Less: distributed earnings allocated to participating

   securities

 

 

(21

)

 

 

(15

)

Less: undistributed earnings allocated to participating

   securities

 

 

(48

)

 

 

(23

)

Net earnings available to common shareholders

 

$

8,033

 

 

$

4,871

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding including

   participating securities

 

 

13,066,272

 

 

 

11,197,012

 

Less: average unvested restricted shares

 

 

(111,165

)

 

 

(86,595

)

Weighted average common shares outstanding

 

 

12,955,107

 

 

 

11,110,417

 

Basic and diluted earnings per share

 

$

0.62

 

 

$

0.44