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EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2023

The following table presents earnings per share for the three months ended March 31, 2023 and 2022:


	Three Months Ended March 31,
(shares presented in the table are in thousands)		2023		2022
Net income		$	9,156	$	8,368
Weighted average shares outstanding - basic		10,385		10,860
Dilutive effect of share-based compensation		111		147
Weighted average shares outstanding - diluted		10,496		11,007
Per share information:
Basic earnings per share		$	0.88	$	0.77
Diluted earnings per share		0.87		0.76

For the three months ended March 31, 2023 and 2022, there were average outstanding restricted award shares totaling 5,513 and 112,223, respectively, excluded from the computation of earnings per share because the effect was antidilutive, as the exercise price exceeded the average market price. The dilutive effect of share-based compensation in each period above relates principally to restricted stock awards.