Earnings per Common Share

6 Months Ended

Jun. 30, 2023

The following table presents the calculation of EPS:


(Dollars and shares in thousands, except per share amounts)
	Three Months		Six Months
Periods ended June 30,	2023	2022	2023	2022
Earnings for basic and diluted earnings per common share:
Net income	$11,256	$19,957	$24,068	$36,440
Less: dividends and undistributed earnings allocated to participating securities	(19)	(57)	(48)	(111)
Net income available to common shareholders	$11,237	$19,900	$24,020	$36,329

Shares:




Weighted average common shares outstanding	17,011	17,303	17,042	17,317
Dilutive effect of common stock equivalents	19	111	43	134
Weighted average diluted common shares outstanding	17,030	17,414	17,085	17,451

Earnings per common share:
Basic earnings per common share	$0.66	$1.15	$1.41	$2.10
Diluted earnings per common share	$0.66	$1.14	$1.41	$2.08

Weighted average common stock equivalents, not included in common stock equivalents above because they were anti-dilutive, totaled 478,490 and 377,989, respectively, for the three and six months ended June 30, 2023, compared to 196,943 and 141,043, respectively, for the same periods in 2022.