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Earnings Per Share | 3 Months Ended
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Mar. 31, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per ShareBasic EPS is calculated using the two-class method. Under the two-class method, all earnings (distributed and undistributed) are allocated to common stock and participating securities. The Company grants restricted stock awards, which entitle recipients to receive nonforfeitable dividends during the vesting period on a basis equivalent to dividends paid to holders of the Company's common stock. These restricted stock awards meet the definition of participating securities based on their respective rights to receive nonforfeitable dividends, and they are treated as a separate class of securities in computing basic EPS. Participating securities are not included as incremental shares in computing diluted EPS. Diluted EPS incorporates the potential impact of contingently issuable shares. Diluted EPS is calculated under both the two-class and treasury stock methods, and the more dilutive amount is reported. For each of the periods presented in the table below, diluted EPS calculated under two-class method was more dilutive. The following table presents the calculation of net income applicable to common stockholders and basic and diluted EPS for the three months ended March 31, 2023 and 2022:
|  | Three Months Ended March 31,
($ in thousands, except share and per share data) |  | 2023 |  | 2022
Basic |  |  |  |
Net income |  | $ | 7,534 |  |  | $ | 8,152 |
Distributed and undistributed earnings allocated to participating securities |  | (159) |  |  | (142) |
Net income allocated to common shares |  | $ | 7,375 |  |  | $ | 8,010 |
Weighted average common shares outstanding |  | 15,284,350 |  |  | 15,137,808 |
Basic earnings per common share |  | $ | 0.48 |  |  | $ | 0.53 |
Diluted |  |  |  |
Net income allocated to common shares |  | $ | 7,375 |  |  | $ | 8,010 |
Weighted average common shares outstanding for basic earnings per common share |  | 15,284,350 |  |  | 15,137,808 |
Add: Dilutive effects of assumed exercises of stock options |  | 28,323 |  |  | 104,406 |
Average shares and dilutive potential common shares |  | 15,312,673 |  |  | 15,242,214 |
Diluted earnings per common share |  | $ | 0.48 |  |  | $ | 0.53 |
No share of common stock was antidilutive for the three months ended March 31, 2023 and 2022.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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