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EARNINGS PER SHARE | 3 Months Ended
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Mar. 31, 2023
EARNINGS PER SHARE |
EARNINGS PER SHARE | NOTE 4: EARNINGS PER SHARE ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended March 31,
​ | ​ | 2023 |  | 2022
​ | ​ | (In Thousands, Except Per Share Data)
Basic: | ​ | ​ | ​ | ​ | ​ | ​
Average common shares outstanding | ​ |  | 12,201 | ​ |  | 12,971
Net income |  | $ | 20,456 |  | $ | 16,987
Per common share amount |  | $ | 1.68 |  | $ | 1.31
​ | ​ | ​ | ​ | ​ | ​ | ​
Diluted: | ​ | ​ | ​ | ​ | ​ | ​
Average common shares outstanding | ​ | ​ | 12,201 | ​ | ​ | 12,971
Net effect of dilutive stock options – based on the treasury stock method using average market price | ​ | ​ | 70 | ​ | ​ | 117
Diluted common shares | ​ | ​ | 12,271 | ​ | ​ | 13,088
Net income |  | $ | 20,456 |  | $ | 16,987
Per common share amount |  | $ | 1.67 |  | $ | 1.30
​ Options outstanding at March 31, 2023 and 2022, to purchase 672,368 and 376,237 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each of the three month periods because the exercise prices of such options were greater than the average market prices of the common stock for the three months ended March 31, 2023 and 2022, respectively.

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