Earnings Per Share

9 Months Ended

Sep. 30, 2022

Note 4 – Earnings Per Share

Basic earnings per share (EPS) are computed on the basis of the weighted average number of shares outstanding during the period presented. Diluted EPS assumes the conversion of the Convertible Preferred Stock $7.00 Series.

	(In Thousands Except per Share Amounts)
	Three Months Ended September 30,
	2022					2021
Basic:	Income			Shares		Income			Shares
Net Income	$	14,291			17,628	$	11,476			17,491
Preferred Dividend		(30	)				(30	)
Earnings Applicable to Common Stock	$	14,261			17,628	$	11,446			17,491

Basic EPS	$	0.81				$	0.65

Diluted:
Earnings Applicable to Common Stock	$	14,261			17,628	$	11,446			17,491
$7.00 Series Preferred Dividend		17			115		17			115
Adjusted Earnings Applicable to Common Stock	$	14,278			17,743	$	11,463			17,606

Diluted EPS	$	0.80				$	0.65

	(In Thousands Except per Share Amounts)
	Nine Months Ended September 30,
	2022					2021
Basic:	Income			Shares		Income			Shares
Net Income	$	35,258			17,583	$	29,305			17,485
Preferred Dividend		(90	)				(90	)
Earnings Applicable to Common Stock	$	35,168			17,583	$	29,215			17,485

Basic EPS	$	2.00				$	1.67

Diluted:
Earnings Applicable to Common Stock	$	35,168			17,583	$	29,215			17,485
$7.00 Series Preferred Dividend		51			115		50			115
Adjusted Earnings Applicable to Common Stock	$	35,219			17,698	$	29,265			17,600

Diluted EPS	$	1.99				$	1.66