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Net Earnings Per Share
 9 Months Ended
Sep. 30, 2023
Net Earnings Per Share  
Net Earnings Per Share

(4)

Net Earnings Per Share

 

Net earnings per share is based on the weighted average number of shares outstanding during the period while the effects of potential shares outstanding during the period are included in diluted earnings per share. The average market price during the applicable period is used to compute equivalent shares.

 

The reconciliation of the amounts used in the computation of both “basic earnings per share” and “diluted earnings per share” for the three and nine months ended September 30, 2023 and 2022 is as follows:

 

For the three months ended September 30, 2023

 

 

 

 

 

 

 

 

 Net Earnings (Dollars in thousands)

 

 

 Weighted Average Number of Shares

 

 

 Per Share Amount

 

Basic earnings per share

 

$4,127

 

 

 

5,402,048

 

 

$0.76

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units - unvested

 

 

 

 

 

 

19,070

 

 

 

 

 

Shares held in deferred comp plan by deferred compensation trust

 

 

 

 

 

 

166,168

 

 

 

 

 

Diluted earnings per share

 

$4,127

 

 

 

5,587,286

 

 

$0.74

 

 

For the nine months ended September 30, 2023

 

 

 

 

 

 

 

 

 Net Earnings (Dollars in thousands)

 

 

 Weighted Average Number of Shares

 

 

 Per Share Amount

 

Basic earnings per share

 

$12,106

 

 

 

5,442,788

 

 

$2.22

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units - unvested

 

 

 

 

 

 

18,899

 

 

 

 

 

Shares held in deferred comp plan by deferred compensation trust

 

 

 

 

 

 

168,099

 

 

 

 

 

Diluted earnings per share

 

$12,106

 

 

 

5,629,786

 

 

$2.15

 

 

For the three months ended September 30, 2022

 

 

 

 

 

 

 

 

Net Earnings (Dollars in thousands)

 

 

Weighted Average Number of Shares

 

 

Per Share Amount

 

Basic earnings per share

 

$5,307

 

 

 

5,473,443

 

 

$0.96

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units - unvested

 

 

 

 

 

 

17,188

 

 

 

 

 

Shares held in deferred comp plan by deferred compensation trust

 

 

 

 

 

 

166,937

 

 

 

 

 

Diluted earnings per share

 

$5,307

 

 

 

5,657,568

 

 

$0.93

 

For the nine months ended September 30, 2022

 

 

 

 

 

 

 

 

Net Earnings (Dollars in thousands)

 

 

Weighted Average Number of Shares

 

 

Per Share Amount

 

Basic earnings per share

 

$11,976

 

 

 

5,484,063

 

 

$2.18

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units - unvested

 

 

 

 

 

 

15,090

 

 

 

 

 

Shares held in deferred comp plan by deferred compensation trust

 

 

 

 

 

 

165,041

 

 

 

 

 

Diluted earnings per share

 

$11,976

 

 

 

5,664,194

 

 

$2.11