Schedule of Weighted Average Number of Shares |
The following is a reconciliation of the weighted-average common shares for the basic and diluted earnings per share computations for the three and nine months ended September 30, 2024 and 2023. | | | | | | | | | | | | | | | | | | | | | | | | | | | (dollars in thousands, except share and per share data) | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2024 | | 2023 | | 2024 | | 2023 | Basic earnings per share | | | | | | | | | Net income | | $ | 6,990 | | | $ | 3,409 | | | $ | 17,946 | | | $ | 4,274 | | Weighted-average common shares | | 8,696,634 | | | 8,744,385 | | | 8,688,304 | | | 8,889,532 | | Basic earnings per common share | | $ | 0.80 | | | $ | 0.39 | | | $ | 2.07 | | | $ | 0.48 | | Diluted earnings per share | | | | | | | | | Net income | | $ | 6,990 | | | $ | 3,409 | | | $ | 17,946 | | | $ | 4,274 | | Weighted-average common shares | | 8,696,634 | | | 8,744,385 | | | 8,688,304 | | | 8,889,532 | | | | | | | | | | | Dilutive effect of equity compensation | | 72,097 | | | 22,832 | | | 68,240 | | | 18,216 | | Weighted-average common and incremental shares | | 8,768,731 | | | 8,767,217 | | | 8,756,544 | | | 8,907,748 | | Diluted earnings per common share 1 | | $ | 0.80 | | | $ | 0.39 | | | $ | 2.05 | | | $ | 0.48 | | | | | | | | | | |
1 Potential dilutive common shares are excluded from the computation of diluted EPS in the periods where the effect would be antidilutive. There were no antidilutive shares for both the three and nine months ended September 30, 2024. Excluded from the computation of diluted EPS were weighted-average antidilutive shares totaling 12,713 and 28,363 for the three and nine months ended September 30, 2023, respectively.
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