Earnings per Common Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Earnings per Common Share

Earnings per Common Share

The following table presents the calculation of earnings per common share:

(Dollars and shares in thousands, except per share amounts)
	Three Months		Nine Months
Periods ended September 30,	2022	2021	2022	2021
Earnings for basic and diluted earnings per common share:
Net income	$18,668	$18,751	$55,108	$56,682
Less: dividends and undistributed earnings allocated to participating securities	(53)	(55)	(164)	(163)
Net income available to common shareholders	$18,615	$18,696	$54,944	$56,519
Shares:
Weighted average common shares	17,174	17,320	17,269	17,303
Dilutive effect of common stock equivalents	124	124	120	148
Weighted average diluted common shares	17,298	17,444	17,389	17,451
Earnings per common share:
Basic earnings per common share	$1.08	$1.08	$3.18	$3.27
Diluted earnings per common share	$1.08	$1.07	$3.16	$3.24

Weighted average common stock equivalents, not included in common stock equivalents above because they were anti-dilutive, totaled 137,886 and 140,777, respectively, for the three and nine months ended September 30, 2022, compared to 148,542 and 149,675, respectively, for the same periods in 2021.