EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2022

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 4: EARNINGS PER SHARE

	Three Months Ended September 30,
	2022		2021
	(In Thousands, Except Per Share Data)
Basic:
Average common shares outstanding		12,304		13,534
Net income	$	18,133	$	20,364
Per common share amount	$	1.47	$	1.50
Diluted:
Average common shares outstanding		12,304		13,534
Net effect of dilutive stock options – based on the treasury stock method using average market price		99		92
Diluted common shares		12,403		13,626
Net income	$	18,133	$	20,364
Per common share amount	$	1.46	$	1.49

	Nine Months Ended September 30,
	2022		2021
	(In Thousands, Except Per Share Data)
Basic:
Average common shares outstanding		12,616		13,652
Net income	$	53,344	$	59,346
Per common share amount	$	4.23	$	4.35
Diluted:
Average common shares outstanding		12,616		13,652
Net effect of dilutive stock options – based on the treasury stock method using average market price		94		92
Diluted common shares		12,710		13,744
Net income	$	53,344	$	59,346
Per common share amount	$	4.20	$	4.32

Options outstanding at September 30, 2022 and 2021, to purchase 364,199 and 448,256 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each of the three month periods because the exercise prices of such options were greater than the average market prices of the common stock for the three months ended September 30, 2022 and 2021, respectively. Options outstanding at September 30, 2022 and 2021, to purchase 366,699 and 448,256 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each of the nine month periods because the exercise prices of such options were greater than the average market prices of the common stock for the nine months ended September 30, 2022 and 2021, respectively.