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Earnings Per Share
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
 
Basic earnings per share (EPS), which excludes dilution, is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period.  Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options or restricted stock awards, result in the issuance of common stock which shares in the earnings of the Company.  A reconciliation of the numerators and denominators of the basic and diluted EPS computations is as follows:
Basic Earnings Per ShareFor the Three Months
Ended September 30,
For the Nine Months
Ended September 30,
(In thousands, except share and per share amounts)2022202120222021
Net income $6,384 $6,521 $19,012 $21,563 
Weighted average shares outstanding11,678,532 12,007,689 11,723,790 12,332,248 
Basic earnings per share$0.55 $0.54 $1.62 $1.75 
 
Diluted Earnings Per ShareFor the Three Months
Ended September 30,
For the Nine Months
Ended September 30,
(In thousands, except share and per share amounts)2022202120222021
Net income $6,384 $6,521 $19,012 $21,563 
Weighted average shares outstanding11,678,532 12,007,689 11,723,790 12,332,248 
Effect of diluted stock options and restricted stock 10,791 37,207 24,903 46,343 
Weighted average shares of common stock and common stock equivalents
11,689,323 12,044,896 11,748,693 12,378,591 
Diluted earnings per share$0.55 $0.54 $1.62 $1.74 
        No outstanding options awards were anti-dilutive for the nine months ended September 30, 2022 and 2021.