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Earnings Per Share
 9 Months Ended
Sep. 30, 2023
Earnings Per Share  
Earnings Per Share

Note 2: Earnings Per Share

Basic earnings per common share are computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per common share are computed by dividing net income by the weighted average number of common shares adjusted for the dilutive effect of stock compensation. For the three and nine months ended September 30, 2023, stock options, restricted stock awards and restricted stock units of approximately 1,152,100 and 1,042,500 shares, respectively, were excluded from the calculation because they were deemed to be anti-dilutive. For the three and nine months ended September 30, 2022, stock options, restricted stock awards and restricted stock units of approximately 300,500 shares were excluded from the calculation because their effect would have been anti-dilutive.

The following table presents the numerators and denominators for basic and diluted earnings per share computations for the three and nine months ended September 30, 2023 and 2022:

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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, 

(dollars in thousands, except per share data)

    

2023

    

2022

    

2023

    

2022

Net Income Available to Common Shareholders

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$

8,616

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$

13,500

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$

28,047

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$

36,617

Weighted Average Common Stock Outstanding:

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Weighted Average Common Stock Outstanding (Basic)

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27,943,409

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27,520,117

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27,853,036

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27,825,517

Dilutive Effect of Stock Compensation

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368,369

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1,072,737

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486,816

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1,057,184

Weighted Average Common Stock Outstanding (Dilutive)

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28,311,778

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28,592,854

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28,339,852

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28,882,701

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Basic Earnings per Common Share

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$

0.31

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$

0.49

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$

1.01

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$

1.32

Diluted Earnings per Common Share

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0.30

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0.47

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0.99

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1.27

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