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10Q BASIC AND DILUTED INCOME PER COMMON SHARE

3 Months Ended

Mar. 31, 2023

BASIC AND DILUTED INCOME PER COMMON SHARE

BASIC AND DILUTED INCOME PER COMMON SHARE

3.          BASIC AND DILUTED INCOME PER COMMON SHARE

Basic and diluted income per common share were calculated using the following:

​

​	​	​	​	​	​	​	​
​	​	Three Months Ended					​
​	​	March 31					​
​		2023			2022
​	​	​	​	​	​	​	​
Net Income	​	$	9,220	​	$	2,065	​
​	​		​	​		​	​
Basic and Diluted Common Shares	​	​	​	​	​	​	​
Weighted Average Shares Outstanding - Basic	​	​	11,425	​	​	11,417	​
Dilution for Assumed Exercises of Nonvested Restricted Stock Units	​		6	​		4	​
Weighted Average Common Shares Outstanding - Diluted	​	​	11,431	​	​	11,421	​

​

​

Basic income per common share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted income per common share is calculated by dividing net income by the weighted average number of common and potential dilutive common shares outstanding. The Company uses the treasury stock method to account for the effect of nonvested restricted stock units on the computation of diluted income per share. For the three months ended March 31, 2023, 128 nonvested restricted stock units would have been anti-dilutive. There were 32 restricted stock units that vested in March 2023, with 24 shares being issued and 8 shares being forfeited to provide for payment of applicable taxes.  There were no restricted stock units granted during the three months ended March 31, 2023, but 96 non-vested shares of the previously granted restricted stock units remained outstanding during the period.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI https://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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