Earnings Per Share

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share

Note 3 – Earnings Per 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 potential common stock equivalents (stock-based awards). The following table provides information relating to the calculation of earnings per common share:

	For the Three Months Ended
	March 31,
(In thousands, except per share data)	2023		2022
Net Income	$	6,457	$	5,613
Weighted average shares outstanding - Basic and Diluted		19,886		19,828
Earnings per common share - Basic and Diluted	$	0.32	$	0.28

There were no weighted average common stock equivalents excluded from the calculation of diluted earnings per share for the three months March 31, 2022. There were no potentially dilutive shares outstanding during the three months ended March 31, 2023.