Schedule of Basic and Diluted earnings per share |
| | | | | | | | | | (In Thousands, Except Share and Per Share Data) | | Years Ended | | | December 31, | | December 31, | | December 31, | | | 2023 | | 2022 | | 2021 | Basic | | | | | | | | | | Net income | | $ | 24,148 | | $ | 26,618 | | $ | 30,554 | Less: Dividends and undistributed earnings allocated to participating securities | | | (186) | | | (237) | | | (241) | Net income attributable to common shares | | $ | 23,962 | | $ | 26,381 | | $ | 30,313 | Basic weighted-average common shares outstanding | | | 15,241,859 | | | 15,455,432 | | | 15,765,639 | Basic earnings per common share (a) | | $ | 1.57 | | $ | 1.71 | | $ | 1.92 | Diluted | | | | | | | | | | Net income attributable to common shares | | $ | 23,962 | | $ | 26,381 | | $ | 30,313 | Basic weighted-average common shares outstanding | | | 15,241,859 | | | 15,455,432 | | | 15,765,639 | Dilutive effect of potential common stock arising from stock options | | | 0 | | | 3,099 | | | 6,316 | Diluted weighted-average common shares outstanding | | | 15,241,859 | | | 15,458,531 | | | 15,771,955 | Diluted earnings per common share (a) | | $ | 1.57 | | $ | 1.71 | | $ | 1.92 | Weighted-average nonvested restricted shares outstanding | | | 118,122 | | | 138,617 | | | 125,539 |
(a) | Basic and diluted earnings per share under the two-class method are determined on net income reported on the income statement less earnings allocated to nonvested restricted shares with nonforfeitable dividends (participating securities). |
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