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Shareholders' Equity and Earnings Per Common Share
 6 Months Ended
Jun. 30, 2023
Stockholders' Equity Note [Abstract]  
Shareholders' Equity and Earnings Per Common Share Shareholders’ Equity and Earnings Per Common Share
On December 20, 2022, our Board of Directors authorized a share repurchase plan (the “Repurchase Plan”) to buy back up to 1,100,000 shares of our outstanding common stock through December 31, 2023. Shares would be repurchased through open market transactions, though we could execute repurchases through other means, such as privately negotiated transactions. The timing and amount of any share repurchases will depend on a variety of factors, including, among others, securities law restrictions, the trading price of our common stock, regulatory requirements, potential alternative uses for capital, and our financial performance. During the six month periods ended June 30, 2023 and 2022 repurchases were made totaling 200,000 shares and 181,586 shares of common stock, for an aggregate purchase price of $3.3 million and $4.0 million, respectively.
A reconciliation of basic and diluted net income per common share follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
2023202220232022
(In thousands, except
per share data)
Net income$14,790 $13,001 $27,781 $30,968 
Weighted average shares outstanding (1)21,041 21,070 21,072 21,131 
Stock units for deferred compensation plan for non-employee directors156 133 154 131 
Effect of stock options8 42 14 49 
Performance share units18 21 20 23 
Weighted average shares outstanding for calculation of diluted earnings per share21,223 21,266 21,260 21,334 
Net income per common share
Basic (1)$0.70 $0.62 $1.32 $1.47 
Diluted$0.70 $0.61 $1.31 $1.45 
(1)Basic net income per common share includes weighted average common shares outstanding during the period and participating share awards.
Weighted average stock options outstanding that were not considered in computing diluted net income per common share because they were anti-dilutive were zero for the three and six month periods ended June 30, 2023 and 2022, respectively.