EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2021

Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period, which includes shares held in treasury on behalf of participants in the Company’s Directors Fee Deferral Plan, and share repurchases. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock based awards and warrants, none of which were antidilutive.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Weighted average shares outstanding for basic earnings per common share	25,479,654		25,418,712		25,472,185		25,484,329
Dilutive effect of stock based awards and warrants	155,634		68,590		136,470		134,072
Weighted average shares outstanding for diluted earnings per common share	25,635,288		25,487,302		25,608,655		25,618,401

Basic earnings per common share	$	0.95	$	0.89	$	2.81	$	2.34
Diluted earnings per common share	$	0.94	$	0.89	$	2.79	$	2.33