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EARNINGS PER SHARE | 3 Months Ended
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Mar. 31, 2024
EARNINGS PER SHARE |
EARNINGS PER SHARE | NOTE 4: EARNINGS PER SHARE ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended March 31,
​ | ​ | 2024 |  | 2023
​ | ​ | (In Thousands, Except Per Share Data)
Basic: | ​ | ​ | ​ | ​ | ​ | ​
Average common shares outstanding | ​ |  | 11,767 | ​ |  | 12,201
Net income |  | $ | 13,407 |  | $ | 20,456
Per common share amount |  | $ | 1.14 |  | $ | 1.68
​ | ​ | ​ | ​ | ​ | ​ | ​
Diluted: | ​ | ​ | ​ | ​ | ​ | ​
Average common shares outstanding | ​ | ​ | 11,767 | ​ | ​ | 12,201
Net effect of dilutive stock options – based on the treasury stock method using average market price | ​ | ​ | 55 | ​ | ​ | 70
Diluted common shares | ​ | ​ | 11,822 | ​ | ​ | 12,271
Net income |  | $ | 13,407 |  | $ | 20,456
Per common share amount |  | $ | 1.13 |  | $ | 1.67
​ Options outstanding at March 31, 2024 and 2023, to purchase 871,587 and 672,368 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, 2024 and 2023, respectively.

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