XML 38 R21.htm IDEA: XBRL DOCUMENT v3.22.4
Earnings Per Share
 12 Months Ended
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.