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Earnings Per Share | 12 Months Ended
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Dec. 31, 2022
Earnings Per Share [Abstract] |
Earnings Per Share | NOTE 13 - EARNINGS PER SHARE The following table sets forth the computations of basic and diluted earnings per share:
| Years Ended December 31,
| 2022 |  | 2021
| (In Thousands, Except Per Share Data)
Numerator, net income | $ | 29,233 |  | $ | 24,915
Denominator: |  |  |  |  |
Weighted average shares outstanding |  | 8,174 |  |  | 8,213
Less: Weighted average unvested restricted shares |  | (37) |  |  | (35)
Denominator: Basic earnings per share |  | 8,137 |  |  | 8,178
Weighted average shares outstanding, basic |  | 8,137 |  |  | 8,178
Add: Dilutive effect of stock options and restricted stock |  | 40 |  |  | 21
Denominator: Diluted earnings per share |  | 8,177 |  |  | 8,199
Basic earnings per common share | $ | 3.59 |  | $ | 3.05
Diluted earnings per common share | $ | 3.58 |  | $ | 3.04
Stock options which had no intrinsic value because their effect would be anti-dilutive, and therefore would not be included in the diluted EPS calculation, were 60,500 and 109,100 for the years ended December 31, 2022 and 2021, respectively, based on the closing price of the Company’s common stock which was $33.44 and $25.99 as of December 31, 2022 and 2021, respectively.

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