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EARNINGS PER COMMON SHARE
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE EARNINGS PER COMMON SHARE
Basic earnings per common share is computed by dividing net income, excluding net earnings allocated to participating securities, by the weighted average number of shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per common share is computed using the weighted average number of shares determined for the basic computation plus the dilutive effect of potential common shares issuable under certain stock compensation plans. For the three and six months ended June 30, 2022 and 2021, there were no outstanding stock options to include in the diluted earnings per common share calculations.

Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per common share pursuant to the two-class method. The Corporation has determined that its outstanding unvested time-based stock awards are participating securities.

The computation of basic and diluted earnings per common share is shown below:
Three Months Ended June 30,Six Months Ended June 30,
 2022202120222021
Basic earnings per common share computation:
Net income per condensed consolidated statements of income$14,363 $12,915 $28,533 $26,021 
Net earnings allocated to participating securities(68)(47)(132)(92)
Net earnings allocated to common stock$14,295 $12,868 $28,401 $25,929 
Distributed earnings allocated to common stock$2,935 $2,859 $5,879 $5,718 
Undistributed earnings allocated to common stock11,360 10,009 22,522 20,211 
Net earnings allocated to common stock$14,295 $12,868 $28,401 $25,929 
Weighted average common shares outstanding, including shares considered participating securities16,860 16,885 16,871 16,870 
Less: Average participating securities(78)(60)(75)(58)
Weighted average shares16,782 16,825 16,796 16,812 
Basic earnings per common share$0.85 $0.76 $1.69 $1.54 
Diluted earnings per common share computation:
Net earnings allocated to common stock$14,295 $12,868 $28,401 $25,929 
Weighted average common shares outstanding for basic earnings per common share16,782 16,825 16,796 16,812 
Add: Dilutive effects of performance based-shares33 0 33 0 
Weighted average shares and dilutive potential common shares16,815 16,825 16,829 16,812 
Diluted earnings per common share$0.85 $0.76 $1.69 $1.54