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EARNINGS PER SHARE
6 Months Ended
Jun. 30, 2023
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 4: EARNINGS PER SHARE

    

Three Months Ended June 30, 

2023

    

2022

(In Thousands, Except Per Share Data)

Basic:

Average common shares outstanding

 

12,032

 

12,581

Net income

 

$

18,320

 

$

18,224

Per common share amount

 

$

1.52

 

$

1.45

Diluted:

Average common shares outstanding

12,032

12,581

Net effect of dilutive stock options – based on the treasury stock method using average market price

37

102

Diluted common shares

12,069

12,683

Net income

 

$

18,320

 

$

18,224

Per common share amount

 

$

1.52

 

$

1.44

    

Six Months Ended June 30, 

2023

    

2022

(In Thousands, Except Per Share Data)

Basic:

  

 

  

Average common shares outstanding

12,116

 

12,775

Net income

$

38,776

$

35,211

Per common share amount

$

3.20

$

2.76

Diluted:

 

 

Average common shares outstanding

 

12,116

 

12,775

Net effect of dilutive stock options – based on the treasury stock method using average market price

 

53

 

108

Diluted common shares

 

12,169

 

12,883

Net income

$

38,776

$

35,211

Per common share amount

$

3.19

$

2.73

Options outstanding at June 30, 2023 and 2022, to purchase 767,479 and 372,449 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 June 30, 2023 and 2022, respectively. Options outstanding at June 30, 2023 and 2022, to purchase 675,118 and 372,449 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each of the six month periods because the exercise prices of such options were greater than the average market prices of the common stock for the six months ended June 30, 2023 and 2022, respectively.