Schedule of earnings per share |
The factors used in the earnings per share calculation are as follows (in thousands, except per share data). | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | | 2024 | | 2023 | | 2024 | | 2023 | Basic | | | | | | | | | | | | | Net income per consolidated statements of income | | $ | 16,799 | | $ | 15,561 | | $ | 33,002 | | $ | 40,637 | Less: Earnings allocated to participating securities | | | — | | | (82) | | | — | | | (170) | Net income available to common stockholders | | $ | 16,799 | | $ | 15,479 | | $ | 33,002 | | $ | 40,467 | | | | | | | | | | | | | | Weighted average common shares outstanding including participating securities | | | 11,192,936 | | | 11,195,461 | | | 11,163,127 | | | 11,137,381 | Less: Weighted average participating securities | | | — | | | (59,200) | | | — | | | (46,686) | Weighted average common shares outstanding | | | 11,192,936 | | | 11,136,261 | | | 11,163,127 | | | 11,090,695 | | | | | | | | | | | | | | Basic earnings per common share | | $ | 1.50 | | $ | 1.39 | | $ | 2.96 | | $ | 3.65 | | | | | | | | | | | | | | Diluted | | | | | | | | | | | | | Net income allocated to common stockholders | | $ | 16,799 | | $ | 15,479 | | $ | 33,002 | | $ | 40,467 | | | | | | | | | | | | | | Weighted average common shares outstanding for basic earnings per common share | | | 11,192,936 | | | 11,136,261 | | | 11,163,127 | | | 11,090,695 | Add: Dilutive effects of assumed exercise of stock options | | | — | | | 88,591 | | | — | | | 123,773 | Add: Dilutive effects of assumed vesting of performance based restricted stock | | | — | | | 53,553 | | | — | | | 56,682 | Add: Dilutive effects of assumed vesting of restricted stock units | | | 6,800 | | | — | | | — | | | — | Average shares and dilutive potential common shares | | | 11,199,736 | | | 11,278,405 | | | 11,163,127 | | | 11,271,150 | | | | | | | | | | | | | | Dilutive earnings per common share | | $ | 1.50 | | $ | 1.37 | | $ | 2.96 | | $ | 3.59 |
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