Earnings Per Common Share ("EPS")

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Common Share ("EPS")

(2.) EARNINGS PER COMMON SHARE (“EPS”)

The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS (in thousands, except per share amounts).

	Three months ended September 30,						Nine months ended September 30,
	2024			2023			2024			2023
Net income available to common shareholders	$	13,101		$	13,657		$	40,071		$	39,390
Weighted average common shares outstanding:
Total shares issued		16,100			16,100			16,100			16,100
Unvested restricted stock awards		(10	)		(11	)		(10	)		(8	)
Treasury shares		(626	)		(698	)		(653	)		(721	)
Total basic weighted average common shares outstanding		15,464			15,391			15,437			15,371
Incremental shares from assumed:
Vesting of restricted stock awards		172			71			145			72
Total diluted weighted average common shares outstanding		15,636			15,462			15,582			15,443
Basic earnings per common share	$	0.85		$	0.89		$	2.60		$	2.56
Diluted earnings per common share	$	0.84		$	0.88		$	2.57		$	2.55

For the three and nine months ended September 30, 2024 and 2023, no average shares were excluded from the computation of diluted EPS because the effect would be antidilutive.