EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

Basic earnings per share is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding. Diluted earnings per share reflect additional potential common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options issued and the vesting of restricted stock units, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options and restricted stock units.


	For the Years Ended
	2023		2022
Basic Earnings Per Share:
Net Income	$	31,952	$	27,071
Weighted average common shares outstanding	8,809,590		8,774,860
Basic earnings per share	$	3.63	$	3.08
Diluted Earnings Per Share:
Net income allocated to common shareholders	$	31,938	$	27,053
Weighted average common shares outstanding	8,809,590		8,774,860
Net dilutive effect of:
Assumed exercises of stock options and vesting of restricted stock units	228,564		174,809
Average shares and dilutive potential common shares	9,038,154		8,949,669
Dilutive earnings per share	$	3.53	$	3.02