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Earnings Per Common Share | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Earnings Per Common Share | Note 2 - Earnings Per Common Share Basic earnings per share is calculated by dividing net income by the weighted-average shares of common stock outstanding during the period, excluding non-vested restricted shares. Dilutive earnings per share is calculated by dividing net income by the weighted-average shares of common stock outstanding during the period plus the maximum dilutive effect on common stock issuable upon exercise of stock options or vesting of restricted stock units. Stock options and unvested restricted stock units are considered common stock equivalents and are only included in the calculation of dilutive earnings per common share if the effect is dilutive. The following reconciles the numerator and denominator of the basic and diluted earnings per common share computation: Schedule of Earning Per Common Share
|  | Nine months |  |  | Three months |
|  | Ended September 30, |  |  | Ended September 30, |
(In thousands except average market price and per share data) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Numerator (Net income available to common shareholders) |  | $ | 8,546 |  |  | $ | 10,570 |  |  | $ | 1,756 |  |  | $ | 3,951 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding for: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic shares |  |  | 7,564 |  |  |  | 7,525 |  |  |  | 7,573 |  |  |  | 7,531 |
Dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred compensation |  |  | 27 |  |  |  | 29 |  |  |  | 22 |  |  |  | 24 |
Restricted stock – Treasury stock method |  |  | 58 |  |  |  | 49 |  |  |  | 60 |  |  |  | 53 |
Diluted shares |  |  | 7,649 |  |  |  | 7,603 |  |  |  | 7,655 |  |  |  | 7,608 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 1.13 |  |  |  | 1.40 |  |  |  | 0.23 |  |  |  | 0.52 |
Diluted |  |  | 1.12 |  |  |  | 1.39 |  |  |  | 0.23 |  |  |  | 0.52 |
The average market price used in calculating assumed number of shares |  | $ | 18.83 |  |  | $ | 19.53 |  |  | $ | 17.80 |  |  | $ | 18.11 |

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