Earnings Per Share

6 Months Ended

Jun. 30, 2024

Note 5: Earnings Per Share

Basic earnings per share is calculated by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is calculated by dividing net income by the weighted-average number of common shares outstanding, after taking into consideration all dilutive potential shares outstanding during the period.

Basic and diluted earnings per share were calculated as follows:


	(dollars in thousands, except per share data)
	For the three months ended				For the six months ended
	June 30,				June 30,
	2024		2023		2024		2023
Net income	$	1,219	$	5,079	$	2,908	$	7,591
Weighted average shares outstanding - basic		43,688,605		43,363,374		43,629,675		43,300,962
Effect of dilutive securities attributable to stock based awards		70,992		144,847		81,355		164,273
Weighted average shares outstanding - diluted		43,759,597		43,508,221		43,711,030		43,465,235
Income per common share:
Basic	$	0.03	$	0.12	$	0.07	$	0.18
Diluted	$	0.03	$	0.12	$	0.07	$	0.17
Anti-dilutive securities excluded from earnings per share calculation		128,774		593,178		128,650		582,426