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Earnings per Common Share | 12 Months Ended
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Mar. 25, 2023
Earnings per Common Share [Abstract] |
Earnings per Common Share | Note 11 – Earnings per Common Share
Earnings per Common Share |  |  |  |  |  |  |  |  |
(thousands, except per share data) |  |  | 2023 |  |  | 2022 |  |  | 2021
Numerator for earnings per common share calculation: |  |  |  |  |  |  |  |  |
Net income |  | $ | 39,048 |  | $ | 61,568 |  | $ | 34,319
Less: Preferred stock dividends |  |  | (515) |  |  | (469) |  |  | (438)
Income available to common stockholders |  | $ | 38,533 |  | $ | 61,099 |  | $ | 33,881
Denominator for earnings per common share calculation: |  |  |  |  |  |  |  |  |
Weighted average common shares - basic |  |  | 32,144 |  |  | 33,527 |  |  | 33,329
Effect of dilutive securities: |  |  |  |  |  |  |  |  |
Preferred stock |  |  | 460 |  |  | 460 |  |  | 503
Stock options |  |  | — |  |  | 12 |  |  | 26
Restricted stock |  |  | 49 |  |  | 39 |  |  | 18
Weighted average common shares - diluted |  |  | 32,653 |  |  | 34,038 |  |  | 33,876
Basic earnings per common share |  | $ | 1.20 |  | $ | 1.82 |  | $ | 1.02
Diluted earnings per common share |  | $ | 1.20 |  | $ | 1.81 |  | $ | 1.01
The computation of diluted earnings per common share for 2023, 2022, and 2021 excludes the effect of the assumed exercise of approximately 658,000, 460,000, and 456,000 of stock options, respectively, as the exercise price of these options was greater than the av erage market value of our common stock for those periods, resulting in an anti-dilutive effect on diluted earnings per common share.

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