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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2023
EARNINGS PER SHARE  
EARNINGS PER SHARE

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NOTE 7.           EARNINGS PER SHARE

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The following table presents the calculation of earnings per share:

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Three Months Ended

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Nine Months Ended

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September 30, 

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September 30, 

(in thousands, except per share and share data)

    

2023

    

2022

    

2023

    

2022

Net income

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$

11,104

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$

11,430

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$

34,907

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$

31,045

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Average number of basic common shares outstanding

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15,155,457

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15,057,598

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15,134,954

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15,028,963

Plus: dilutive effect of stock options and awards outstanding

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40,067

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55,757

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53,765

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71,317

Average number of diluted common shares outstanding(1)

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15,195,524

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15,113,355

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15,188,719

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15,100,280

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Earnings per share:

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Basic

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$

0.73

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$

0.76

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$

2.31

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$

2.07

Diluted

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0.73

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0.76

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2.30

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2.06

(1)Average diluted shares outstanding are computed using the treasury stock method.