Year Ended December 31,

2023

2022

2021

Basic

Net income per consolidated statements of income

$

77,268

$

59,425

$

60,555

Less: Earnings allocated to participating securities

(365)

(141)

(739)

Net income available to common stockholders

$

76,903

$

59,284

$

59,816

Weighted average common shares outstanding including participating securities

11,112,572

10,955,077

9,123,037

Less: Weighted average participating securities

(52,462)

(26,056)

(111,337)

Weighted average common shares outstanding

11,060,110

10,929,021

9,011,700

Basic earnings per common share

6.95

5.42

6.64

Diluted

Net income allocated to common stockholders

$

76,903

$

59,284

$

59,816

Weighted average common shares outstanding for basic earnings per common share

11,060,110

10,929,021

9,011,700

Add: Dilutive effects of assumed exercise of stock options

—

170,648

170,792

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

69,790

56,711

51,581

Add: Dilutive effects of assumed vesting of restricted stock units

—

43,804

38,749

Average shares and dilutive potential common shares

11,129,900

11,200,184

9,272,822

Dilutive earnings per common share

$

6.91

$

5.29

$

6.45