XML 21 R11.htm IDEA: XBRL DOCUMENT v3.22.2.2
Earnings Per Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the sum of the weighted-average number of common shares outstanding and the weighted-average number of potential common shares outstanding. Under the treasury stock method, stock appreciation rights (“SARs”) are dilutive when the average market price of the Company’s common stock, combined with the effect of any unamortized compensation expense, exceeds the SAR price during a period.
The calculations of basic and diluted earnings per share are as follows:
(In thousands except share and per
share data)		Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Basic
Net income $8,799 $6,805 $25,619 $20,902 
Weighted-average common shares outstanding 13,542,231 14,040,089 13,554,169 14,203,369 
Basic earnings per share $0.65 $0.48 $1.89 $1.47 
 
Diluted
Net income $8,799 $6,805 $25,619 $20,902 
Weighted-average common shares outstanding 13,542,231 14,040,089 13,554,169 14,203,369 
Effect of dilutive restricted stock and stock appreciation rights 262,106 237,080 252,496 239,016 
Weighted-average common shares outstanding assuming dilution 13,804,337 14,277,169 13,806,665 14,442,385 
Diluted earnings per share $0.64 $0.48 $1.86 $1.45