Earnings Per Common Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

EARNINGS PER COMMON SHARE

NOTE 19. EARNINGS PER COMMON SHARE

Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents (stock-based awards). The following table provides information relating to the calculation of earnings per common share for the years ended December 31.

	For the Year Ended
	December 31,
(In thousands, except per share data)	2022		2021
Net Income	$	31,177	$	15,368
Weighted average shares outstanding - Basic and Diluted		19,847		13,119
Earnings per common share - Basic and Diluted	$	1.57	$	1.17

There were no weighted average common stock equivalents excluded from the calculation of diluted earnings per share for the years ended December 31, 2022 and 2021.