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EARNINGS PER SHARE
9 Months Ended
Sep. 30, 2024
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 4: EARNINGS PER SHARE

    

Three Months Ended September 30, 

2024

    

2023

(In Thousands, Except Per Share Data)

Basic:

Average common shares outstanding

 

11,656

 

11,935

Net income

 

$

16,490

 

$

15,879

Per common share amount

 

$

1.41

 

$

1.33

Diluted:

Average common shares outstanding

11,656

11,935

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

63

42

Diluted common shares

11,719

11,977

Net income

 

$

16,490

 

$

15,879

Per common share amount

 

$

1.41

 

$

1.33

    

Nine Months Ended September 30, 

2024

    

2023

(In Thousands, Except Per Share Data)

Basic:

  

 

  

Average common shares outstanding

11,688

 

12,055

Net income

$

46,885

$

54,655

Per common share amount

$

4.01

$

4.53

Diluted:

 

 

Average common shares outstanding

 

11,688

 

12,055

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

 

58

 

49

Diluted common shares

 

11,746

 

12,104

Net income

$

46,885

$

54,655

Per common share amount

$

3.99

$

4.52

Options outstanding at September 30, 2024 and 2023, to purchase 712,403 and 758,129 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 price of the common stock for the three months ended September 30, 2024 and 2023, respectively. Options outstanding at September 30, 2024 and 2023, to purchase 712,403 and 675,768 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each of the nine month periods because the exercise prices of such options were greater than the average market price of the common stock for the nine months ended September 30, 2024 and 2023, respectively.