Earnings Per Share

12 Months Ended

Dec. 31, 2021

The computation of basic and diluted earnings per common share is shown below. There were no anti-dilutive stock options for the years ended December 31, 2021, 2020, and 2019.


	Years Ended December 31,
	2021		2020		2019
Basic earnings per common share computation
Net income per consolidated statements of income	$	53,405	$	31,596	$	40,081
Net earnings allocated to participating securities	(183)		(100)		(147)
Net earnings allocated to common stock	$	53,222	$	31,496	$	39,934
Distributed earnings allocated to common stock	$	11,514	$	10,942	$	10,317
Undistributed earnings allocated to common stock	41,708		20,554		29,617
Net earnings allocated to common stock	$	53,222	$	31,496	$	39,934
Weighted average common shares outstanding, including shares considered participating securities	16,875		16,048		15,219
Less: Average participating securities	(55)		(48)		(55)
Weighted average shares	16,820		16,000		15,164
Basic earnings per common share	$	3.16	$	1.97	$	2.63
Diluted earnings per common share computation
Net earnings allocated to common stock	$	53,222	$	31,496	$	39,934
Weighted average common shares outstanding for basic earnings per common share	16,820		16,000		15,164
Add: Dilutive effects of performance based-shares	0		0		0
Weighted average shares and dilutive potential common shares	16,820		16,000		15,164
Diluted earnings per common share	$	3.16	$	1.97	$	2.63