EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2023

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,
	2023		2022		2023		2022
Weighted average shares outstanding for basic earnings per common share	25,613,456		25,533,832		25,601,493		25,525,734
Dilutive effect of stock based awards	80,079		200,781		108,348		184,354
Weighted average shares outstanding for diluted earnings per common share	25,693,535		25,734,613		25,709,841		25,710,088

Basic earnings per common share	$	0.99	$	1.12	$	2.51	$	3.05
Diluted earnings per common share	$	0.98	$	1.11	$	2.49	$	3.03