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Earnings Per Common Share | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Earnings Per Common Share | Earnings Per Common Share The following table sets forth the computation of basic and diluted earnings per common share for the three months and the six months ended June 30, 2023 and 2022.
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(In thousands, except common share and per common share data) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Numerator: |  |  |  |  |  |  |  |
Net income |  | $ | 31,584 |  |  | $ | 34,324 |  |  | $ | 65,317 |  |  | $ | 73,199 |
Denominator: |  |  |  |  |  |  |  |
Weighted-average common shares outstanding |  | 16,165,119 |  |  | 16,249,307 |  |  | 16,203,736 |  |  | 16,234,598 |
Effect of dilutive PBRSUs and TBRSUs |  | 75,481 |  |  | 111,939 |  |  | 78,957 |  |  | 111,543 |
Weighted-average common shares outstanding adjusted for the effect of dilutive PBRSUs and TBRSUs |  | 16,240,600 |  |  | 16,361,246 |  |  | 16,282,693 |  |  | 16,346,141 |
Earnings per common share: |  |  |  |  |  |  |  |
Basic earnings per common share |  | $ | 1.95 |  |  | $ | 2.11 |  |  | $ | 4.03 |  |  | $ | 4.51 |
Diluted earnings per common share |  | $ | 1.94 |  |  | $ | 2.10 |  |  | $ | 4.01 |  |  | $ | 4.48 |
Park awarded 54,698 PBRSUs and 52,335 PBRSUs to certain employees during the six months ended June 30, 2023 and 2022, respectively. No PBRSUs were awarded during either of the three months ended June 30, 2023 or 2022. Park repurchased an aggregate of 25,000 and 149,000 common shares during the three months and the six months ended June 30, 2023, respectively, to fund the PBRSUs, the TBRSUs and the common shares to be awarded to directors of Park and to directors of Park's subsidiary PNB (and its divisions) as well as pursuant to Park's previously announced stock repurchase authorizations. No common shares were repurchased during the three months or the six months ended June 30, 2022.

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