Earnings Per Common Share

12 Months Ended

Dec. 31, 2023

Earnings per Common Share

The following table presents the calculation of EPS:


(Dollars and shares in thousands, except per share amounts)
Years ended December 31,	2023	2022	2021
Earnings per basic and diluted earnings per common share:
Net income	$48,176	$71,681	$76,870
Less: dividends and undistributed earnings allocated to participating securities	(85)	(202)	(223)
Net income available to common shareholders	$48,091	$71,479	$76,647

Shares:
Weighted average common shares outstanding for basic EPS	17,033	17,246	17,310
Dilutive effect of common stock equivalents	29	135	145
Weighted average common shares outstanding for diluted EPS	17,062	17,381	17,455

EPS:
Basic EPS	$2.82	$4.14	$4.43
Diluted EPS	$2.82	$4.11	$4.39

Weighted average common stock equivalents, not included in common stock equivalents above because they were anti-dilutive, totaled 465,997, 149,742 and 100,150, respectively, for the years ended December 31, 2023, 2022 and 2021.