EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2022

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 13 – EARNINGS PER SHARE

The following table presents the calculation of basic and diluted earnings per common share for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands, except per share data)	2022		2021		2022		2021
Basic earnings per share
Net Income	$	16,893	$	16,882	$	52,422	$	44,256
Weighted average common shares outstanding		25,433,307		25,507,814		25,452,398		25,607,986
Basic earnings per common share	$	0.66	$	0.66	$	2.06	$	1.73
Diluted earnings per share
Net Income	$	16,893	$	16,882	$	52,422	$	44,256
Weighted average common shares outstanding for basic earnings per common share		25,433,307		25,507,814		25,452,398		25,607,986
Add: Dilutive effects of restricted stock and options		268,716		221,229		279,606		197,494
Average shares and dilutive potential common shares		25,702,023		25,729,043		25,732,004		25,805,480
Diluted earnings per common share	$	0.66	$	0.66	$	2.04	$	1.71

There were no stock options or restricted stock excluded from the computation of diluted earnings per common share since they were antidilutive for the three and nine months ended September 30, 2022 and 2021.