XML 22 R11.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Earnings Per Share
 3 Months Ended
Mar. 31, 2024
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
March 31,
20242023
Basic
Net income $7,152 $7,117 
Weighted-average common shares outstanding 13,530,228 13,599,472 
Basic earnings per share $0.53 $0.52 
 
Diluted
Net income $7,152 $7,117 
Weighted-average common shares outstanding 13,530,228 13,599,472 
Effect of dilutive restricted stock and stock appreciation rights 255,049 263,926 
Weighted-average common shares outstanding assuming dilution 13,785,277 13,863,398 
Diluted earnings per share $0.52 $0.51