EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2023

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 4: EARNINGS PER SHARE

	Three Months Ended September 30,
	2023		2022
	(In Thousands, Except Per Share Data)
Basic:
Average common shares outstanding		11,935		12,304
Net income	$	15,879	$	18,133
Per common share amount	$	1.33	$	1.47
Diluted:
Average common shares outstanding		11,935		12,304
Net effect of dilutive stock options – based on the treasury stock method using average market price		42		99
Diluted common shares		11,977		12,403
Net income	$	15,879	$	18,133
Per common share amount	$	1.33	$	1.46

	Nine Months Ended September 30,
	2023		2022
	(In Thousands, Except Per Share Data)
Basic:
Average common shares outstanding		12,055		12,616
Net income	$	54,655	$	53,344
Per common share amount	$	4.53	$	4.23
Diluted:
Average common shares outstanding		12,055		12,616
Net effect of dilutive stock options – based on the treasury stock method using average market price		49		94
Diluted common shares		12,104		12,710
Net income	$	54,655	$	53,344
Per common share amount	$	4.52	$	4.20

Options outstanding at September 30, 2023 and 2022, to purchase 758,129 and 364,199 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, 2023 and 2022, respectively. Options outstanding at September 30, 2023 and 2022, to purchase 675,768 and 366,699 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, 2023 and 2022, respectively.