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Net Earnings Per Share | 3 Months Ended
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Mar. 31, 2025
Net Earnings Per Share |
Net Earnings Per Share | (3) Net Earnings Per Share Net earnings per share is based on the weighted average number of shares outstanding during the period while the effects of potential shares outstanding during the period are included in diluted earnings per share. The average market price during the applicable period is used to compute equivalent shares. Shares held in the deferred compensation plan by the deferred compensation trust are excluded for purposes of calculating the weighted average number of shares outstanding and basic earnings per share in accordance with ASC 260-10-45-40 and ASC 260-10-45-45 through ASC 260-26010-45-46. The reconciliation of the amounts used in the computation of both basic earnings per share and diluted earnings per share for the three months ended March 31, 2025 and 2024 is as follows:
For the three months ended March 31, 2025 |  |  |  |  |  |  |  |  |
|  | Net Earnings (Dollars in thousands) |  |  | Weighted Average Number of Shares |  |  | Per Share Amount |
Basic earnings per share |  | $ | 4,345 |  |  |  | 5,299,155 |  |  | $ | 0.82 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Restricted stock units - unvested |  |  |  |  |  |  | 10,354 |  |  |  |  |
Shares held in deferred comp plan by deferred compensation trust |  |  |  |  |  |  | 160,130 |  |  |  |  |
Diluted earnings per share |  | $ | 4,345 |  |  |  | 5,469,639 |  |  | $ | 0.79 |
For the three months ended March 31, 2024 |  |  |  |  |  |  |  |  |
|  | Net Earnings (Dollars in thousands) |  |  | Weighted Average Number of Shares |  |  | Per Share Amount |
Basic earnings per share |  | $ | 3,948 |  |  |  | 5,318,671 |  |  | $ | 0.74 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Restricted stock units - unvested |  |  |  |  |  |  | 18,143 |  |  |  |  |
Shares held in deferred comp plan by deferred compensation trust |  |  |  |  |  |  | 164,336 |  |  |  |  |
Diluted earnings per share |  | $ | 3,948 |  |  |  | 5,501,150 |  |  | $ | 0.72 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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