Earnings per Common Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings per Common Share

Diluted earnings per common share include the dilutive effect, if any, of additional potential common shares issuable under the Company’s equity incentive plan, computed using the treasury stock method. The Company had no dilutive securities for the three-months ended March 31, 2023 and 2022.

	Three Months Ended
	March 31,
	2023		2022
Basic
Net income	$	12,888	$	8,466
Less allocation of earnings and dividends to participating securities		452		32
Net income available to common shareholders—basic	$	12,436	$	8,434
Weighted average common shares outstanding		15,732,092		14,909,192
Less average participating securities		552,882		55,905
Weighted average number of shares outstanding used in the calculation of basic earnings per common share		15,179,210		14,853,287
Earnings per common share:
Basic	$	0.82	$	0.57
Diluted		0.82		0.57