EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Weighted average shares outstanding for basic earnings per common share	25,607,663		25,527,896		25,595,412		25,521,618
Dilutive effect of stock based awards	78,691		169,681		100,958		178,290
Weighted average shares outstanding for diluted earnings per common share	25,686,354		25,697,577		25,696,370		25,699,908
Basic earnings per common share	$	0.57	$	1.00	$	1.52	$	1.93
Diluted earnings per common share	$	0.57	$	1.00	$	1.51	$	1.92