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Earnings per Share | 6 Months Ended
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Jun. 30, 2023
Earnings per share: |
Earnings per Share | 8. Earnings per Share Basic earnings per share have been computed based upon the weighted average number of common shares outstanding during each period. Diluted earnings per share include the effect of all potential common shares outstanding during each period. The diluted earnings per share computation for the three and six months ended June 30, 2023 excluded 77,511 of unexercised stock options because their inclusion would have been anti-dilutive during such periods. The diluted earnings per share computation for the three and six months ended June 30, 2022 excluded 53,642 of unexercised stock options because their inclusion would have been anti-dilutive during such periods. The Company’s Board of Directors declared a cash dividend of $0.21 per share to be paid September 6, 2023, to common stockholders of record as of the close of business on August 23, 2023. The shares used in the calculation of basic and diluted earnings per share are shown below: Schedule of Earnings Per Share, Basic and Diluted
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
(Dollars in thousands, except per share amounts) |  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Net earnings |  | $ | 3,362 |  |  | $ | 3,033 |  |  | $ | 6,719 |  |  | $ | 6,166 |
Weighted average common shares outstanding - basic (1) |  |  | 5,215,575 |  |  |  | 5,237,837 |  |  |  | 5,214,357 |  |  |  | 5,242,558 |
Assumed exercise of stock options (1) |  |  | 3,975 |  |  |  | 14,709 |  |  |  | 5,403 |  |  |  | 17,756 |
Weighted average common shares outstanding - diluted (1) |  |  | 5,219,550 |  |  |  | 5,252,546 |  |  |  | 5,219,760 |  |  |  | 5,260,313 |
Earnings per share (1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic (1) |  | $ | 0.64 |  |  | $ | 0.58 |  |  | $ | 1.29 |  |  | $ | 1.18 |
Diluted (1) |  | $ | 0.64 |  |  | $ | 0.58 |  |  | $ | 1.29 |  |  | $ | 1.17 |
(1) |  | Share and per share values for the periods ended June 30, 2022 have been adjusted to give effect to the 5% stock dividend paid during December 2022.

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