| Earnings Per Share [Text Block] |
Note 10. Earnings Per Share
The computation of basic earnings per share is based on the weighted average number of common shares outstanding during the period, adjusted for stock splits. The computation of diluted earnings per share for the Company begins with the basic earnings per share and includes the effect of common shares contingently issuable from stock options.
The following is a summary of components comprising basic and diluted earnings per share (“EPS”) for the three and six months ended June 30, 2023 and 2022:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
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|
(Dollars in Thousands Except Share and Per Share Amounts) |
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|
(Dollars in Thousands Except Share and Per Share Amounts) |
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| Basic EPS Computation: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Numerator – Earnings available to common stockholders |
|
$ |
12,389 |
|
|
$ |
14,139 |
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|
$ |
26,230 |
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|
$ |
25,512 |
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| Denominator – Weighted average number of common shares outstanding |
|
|
11,576,716 |
|
|
|
11,339,057 |
|
|
|
11,560,199 |
|
|
|
11,307,763 |
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| Basic earnings per common share |
|
$ |
1.07 |
|
|
$ |
1.25 |
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|
$ |
2.27 |
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|
$ |
2.26 |
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| Diluted EPS Computation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Numerator – Earnings available to common stockholders |
|
$ |
12,389 |
|
|
$ |
14,139 |
|
|
$ |
26,230 |
|
|
$ |
25,512 |
|
| Denominator – Weighted average number of common shares outstanding |
|
|
11,576,716 |
|
|
|
11,339,057 |
|
|
|
11,560,199 |
|
|
|
11,307,763 |
|
| Dilutive effect of stock options, RSUs and PSUs |
|
|
30,230 |
|
|
|
31,198 |
|
|
|
29,974 |
|
|
|
31,501 |
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| Weighted average diluted common shares outstanding |
|
|
11,606,946 |
|
|
|
11,370,255 |
|
|
|
11,590,173 |
|
|
|
11,339,264 |
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| Diluted earnings per common share |
|
$ |
1.07 |
|
|
$ |
1.24 |
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|
$ |
2.26 |
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|
$ |
2.25 |
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|