XML 31 R11.htm IDEA: XBRL DOCUMENT v3.24.0.1
Earnings Per Share
12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Earnings Per Share

Note 3. Earnings Per Share

Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding and dilutive common share equivalents using the treasury stock method. Dilutive common share equivalents include common shares issuable upon exercise of outstanding stock options and restricted stock. The effect from the stock options and restricted stock on incremental shares from the assumed conversions for net income per share-basic and net income per share-diluted are presented below. There were no antidilutive shares for the years ended December 31, 2023 and 2022, and 2021.

The following is a summary of the basic and diluted earnings per share computation (dollars in thousands, except share and per share data):

2023

    

2022

2021

Basic earnings per share computation:

  

 

  

  

Net income available to common shareholders

$

28,593

$

43,022

$

34,790

Average common shares outstanding – basic

 

16,805,068

 

16,740,450

 

15,572,537

Basic earnings per share

$

1.70

$

2.57

$

2.23

Diluted earnings per share computation:

 

  

 

  

 

  

Net income available to common shareholders

$

28,593

$

43,022

$

34,790

Average common shares outstanding – basic

 

16,805,068

 

16,740,450

 

15,572,537

Incremental shares from assumed conversions:

 

  

 

  

 

  

Stock options and restricted stock

 

106,117

 

130,919

 

126,678

Average common shares outstanding - diluted

 

16,911,185

 

16,871,369

 

15,699,215

Diluted earnings per common share

$

1.69

$

2.55

$

2.22