Year Ended December 31,

2021

2020

Basic

Net income per consolidated statements of income

$

60,555

$

39,466

Less: Earnings allocated to participating securities

(739)

(344)

Net income available to common stockholders

$

59,816

$

39,122

Weighted average common shares outstanding including participating securities

9,123,037

8,293,677

Less: Weighted average participating securities

(111,337)

(72,248)

Weighted average common shares outstanding

9,011,700

8,221,429

Basic earnings per common share

6.64

4.76

Diluted

Net income allocated to common stockholders

$

59,816

$

39,122

Weighted average common shares outstanding for basic earnings per common share

9,011,700

8,221,429

Add: Dilutive effects of assumed exercise of stock options

170,792

103,463

Add: Dilutive effects of assumed vesting of performance based restricted stock

51,581

73,552

Add: Dilutive effects of assumed vesting of restricted stock units

38,749

—

Average shares and dilutive potential common shares

9,272,822

8,398,444

Dilutive earnings per common share

$

6.45

$

4.66