Earnings Per Share

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Earnings Per Share

3.     Earnings Per Share

Earnings per common share have been computed based on the following:

	For the three months ended March 31,
	2023			2022
	(In thousands, except per share data)
Net income, as reported	$	5,158		$	18,219
Divided by:
Weighted average common shares outstanding		30,265			31,524
Weighted average common stock equivalents (1)		—			—
Total weighted average common shares outstanding and common stock equivalents		30,265			31,524
Basic earnings per common share	$	0.17		$	0.58
Diluted earnings per common share	$	0.17		$	0.58
Dividend Payout ratio		129.4	%		37.9	%

(1) For the three months ended March 31, 2023, and 2022, there were no common stock equivalents that were anti-dilutive.