XML 27 R17.htm IDEA: XBRL DOCUMENT v3.23.2
Earnings Per Share
6 Months Ended
Jun. 30, 2023
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 June 30,
For the Six Months
Ended June 30,
(In thousands, except share and per share amounts)2023202220232022
Net income $6,282 $6,542 $13,252 $12,628 
Weighted average shares outstanding11,723,127 11,665,074 11,713,524 11,746,795 
Basic earnings per share$0.54 $0.56 $1.13 $1.08 
 
Diluted Earnings Per ShareFor the Three Months
Ended June 30,
For the Six Months
Ended June 30,
(In thousands, except share and per share amounts)2023202220232022
Net income $6,282 $6,542 $13,252 $12,628 
Weighted average shares outstanding11,723,127 11,665,074 11,713,524 11,746,795 
Effect of diluted stock options and restricted stock 17,263 20,776 24,513 31,332 
Weighted average shares of common stock and common stock equivalents
11,740,390 11,685,850 11,738,037 11,778,127 
Diluted earnings per share$0.54 $0.56 $1.13 $1.07 

No options awards were anti-dilutive for the six months ended June 30, 2022. There were no outstanding options at June 30, 2023.