Earnings Per Common Share

9 Months Ended

Sep. 30, 2022

Note 9 - Earnings Per Common Share

The following is a computation of basic and diluted earnings per common share at the periods indicated:


	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
	(dollars in thousands, except share data; unaudited)
Net Income	$	11,101	$	6,684	$	27,507	$	19,715
Basic weighted average number common shares outstanding	12,938,200		11,999,899		12,921,814		11,982,009
Dilutive effect of equity-based awards	598,623		456,775		563,136		483,337
Diluted weighted average number common shares outstanding	13,536,823		12,456,674		13,484,950		12,465,346
Basic earnings per share	$	0.86	$	0.56	$	2.13	$	1.65
Diluted earnings per share	$	0.82	$	0.54	$	2.04	$	1.58
Antidilutive stock options and restricted stock outstanding	52,840		160,668		52,840		160,668

Under the two-class method, earnings available to common shareholders for the period are allocated between common shareholders and participating securities according to dividends declared (or accumulated) and participation rights in undistributed earnings, however the difference in the two-class method was not significant.