EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2024

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 4: EARNINGS PER SHARE

	Three Months Ended March 31,
	2024		2023
	(In Thousands, Except Per Share Data)
Basic:
Average common shares outstanding		11,767		12,201
Net income	$	13,407	$	20,456
Per common share amount	$	1.14	$	1.68
Diluted:
Average common shares outstanding		11,767		12,201
Net effect of dilutive stock options – based on the treasury stock method using average market price		55		70
Diluted common shares		11,822		12,271
Net income	$	13,407	$	20,456
Per common share amount	$	1.13	$	1.67

Options outstanding at March 31, 2024 and 2023, to purchase 871,587 and 672,368 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 March 31, 2024 and 2023, respectively.