Three months ended March 31,

2023

2022

Basic

Net income per consolidated statements of income

$

25,076

$

19,021

Less: Earnings allocated to participating securities

(84)

(25)

Net income available to common stockholders

$

24,992

$

18,996

Weighted average common shares outstanding including participating securities

11,081,924

10,934,091

Less: Weighted average participating securities

(37,300)

(14,223)

Weighted average common shares outstanding

11,044,624

10,919,868

Basic earnings per common share

$

2.26

$

1.74

Diluted

Net income allocated to common stockholders

$

24,992

$

18,996

Weighted average common shares outstanding for basic earnings per common share

11,044,624

10,919,868

Add: Dilutive effects of assumed exercise of stock options

—

190,826

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

58,384

73,561

Add: Dilutive effects of assumed vesting of restricted stock units

—

39,039

Average shares and dilutive potential common shares

11,103,008

11,223,294

Dilutive earnings per common share

$

2.25

$

1.69