XML 36 R24.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Earnings Per Share
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of potential common stock equivalents (stock-based awards). The following table provides information relating to the calculation of earnings per common share.
Three Months Ended June 30,Six Months Ended June 30,
(In thousands, except per share data)2024202320242023
Net Income$11,234 $4,018 $19,418 $10,475 
Average number of common shares outstanding33,23419,90333,21219,895
Dilutive effect of common stock equivalents————
Average number of shares used to calculate diluted EPS33,23419,90333,21219,895
Anti-dilutive shares9—5—
Earnings per common share
Basic$0.34 $0.20 $0.58 $0.53 
Diluted$0.34 $0.20 $0.58 $0.53 
As of three and six months ended June 30, 2024 there were 9,000 and 5,000, respectively, of unvested restricted stock and performance stock unit awards which were excluded from the calculation as their effect would be anti-dilutive. There were no antidilutive awards that were excluded from the calculation for the three and six months ended June 30, 2023.