Earnings per Common Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings per Common Share

Earnings per Common Share

The following table presents the calculation of EPS:

(Dollars and shares in thousands, except per share amounts)
Three months ended March 31,	2024	2023
Earnings for basic and diluted earnings per common share:
Net income	$10,936	$12,812
Less: dividends and undistributed earnings allocated to participating securities	(12)	(29)
Net income available to common shareholders	$10,924	$12,783
Shares:
Weighted average common shares outstanding for basic EPS	17,033	17,074
Dilutive effect of common stock equivalents	41	96
Weighted average common shares outstanding for diluted EPS	17,074	17,170
Earnings per common share:
Basic EPS	$0.64	$0.75
Diluted EPS	$0.64	$0.74

Weighted average common stock equivalents, not included in common stock equivalents above because they were anti-dilutive, totaled 464,011 for the three months ended March 31, 2024, compared to 303,982 for the same period in 2023.