Earnings per Common Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings per Common Share

NOTE 21 - EARNINGS PER COMMON SHARE

The factors used in the earnings per share computation follow.

	2023		2022		2021
Basic
Net income	$	42,964	$	39,427	$	40,546
Less allocation of earnings and dividends to     participating securities		1,583		498		173
Net income available to common    shareholders—basic	$	41,381	$	38,929	$	40,373
Weighted average common shares outstanding		15,734,624		15,162,032		15,408,863
Less average participating securities		579,857		191,402		65,648
Weighted average number of shares outstanding     used in the calculation of basic earnings     per common share		15,154,767		14,970,630		15,343,215
Basic earnings per share	$	2.73	$	2.60	$	2.63
Diluted
Net income available to common    shareholders—basic	$	41,381	$	38,929	$	40,373
Net income available to common    shareholders—diluted	$	41,381	$	38,929	$	40,373
Weighted average common shares    outstanding used in the calculation of    earnings per common share basic		15,154,767		14,970,630		15,343,215
Average shares and dilutive potential    common shares outstanding—diluted		15,154,767		14,970,630		15,343,215
Diluted earnings per share	$	2.73	$	2.60	$	2.63

Basic earnings per common share are calculated by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share include the dilutive effect, if any, of additional potential common shares issuable under the equity incentive plan, computed using the treasury stock method.