Earnings Per Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Share

Note 4 – Earnings Per Share

Basic earnings per share (EPS) are computed on the basis of the weighted average number of shares outstanding during the period presented. Diluted EPS assumes the conversion of the Convertible Preferred Stock $7.00 Series.

	(In Thousands Except per Share Amounts)
	Three Months Ended June 30,
	2023					2022
Basic:	Income			Shares		Income			Shares
Net Income	$	9,901			17,713	$	8,868			17,583
Preferred Dividend		(30	)				(30	)
Earnings Applicable to Common Stock	$	9,871			17,713	$	8,838			17,583
Basic EPS	$	0.56				$	0.50
Diluted:
Earnings Applicable to Common Stock	$	9,871			17,713	$	8,838			17,583
$7.00 Series Preferred Dividend		17			115		17			115
Adjusted Earnings Applicable to  Common Stock	$	9,888			17,828	$	8,855			17,698
Diluted EPS	$	0.55				$	0.50

	(In Thousands Except per Share Amounts)
	Six Months Ended June 30,
	2023					2022
Basic:	Income			Shares		Income			Shares
Net Income	$	15,767			17,683	$	20,968			17,560
Preferred Dividend		(60	)				(60	)
Earnings Applicable to Common Stock	$	15,707			17,683	$	20,908			17,560
Basic EPS	$	0.89				$	1.19
Diluted:
Earnings Applicable to Common Stock	$	15,707			17,683	$	20,908			17,560
$7.00 Series Preferred Dividend		34			115		34			115
Adjusted Earnings Applicable to  Common Stock	$	15,741			17,798	$	20,942			17,675
Diluted EPS	$	0.88				$	1.18