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Earnings per share
 6 Months Ended
Jun. 30, 2023
Earnings per share  
Earnings per share

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3. Earnings per share:

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Basic earnings per share represent income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance.

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The following table presents the calculation of both basic and diluted earnings per share of common stock for the three and six months ended June 30, 2023 and 2022:

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(Dollars in thousands, except per share data)

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2023

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2022

For the Three Months Ended June 30,

    

Basic  

    

Diluted  

    

Basic  

    

Diluted  

Net income

    

$

9,425

    

$

9,425

    

$

9,353

    

$

9,353

Average common shares outstanding

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7,145,975

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7,177,915

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7,171,909

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7,215,365

Earnings per share

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$

1.32

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$

1.31

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$

1.30

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$

1.30

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(Dollars in thousands, except per share data)

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2023

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2022

For the Six Months Ended June 30,

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Basic  

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Diluted  

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Basic  

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Diluted  

Net income

    

$

17,004

    

$

17,004

    

$

18,983

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$

18,983

Average common shares outstanding

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7,151,732

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7,188,384

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7,172,181

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7,215,890

Earnings per share

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$

2.38

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$

2.37

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$

2.65

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$

2.63

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