EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2023

Earnings Per Share

Earnings Per Share

Note 3–Earnings Per Share

Basic earnings per common share is computed using the weighted average number of shares outstanding. Diluted earnings per share is computed using the weighted average number of shares outstanding adjusted for the incremental shares attributable to non-vested stock units and stock options outstanding, if dilutive.

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator:
Net income	$	19,697	$	25,398	$	33,895	$	47,190
Denominator:
Denominator for basic earnings per share		26,256		26,268		26,291		26,262
Dilutive effect of employee stock awards		109		161		109		155
Denominator for diluted earnings per share		26,365		26,429		26,400		26,417
Earnings per share:
Basic	$	0.75	$	0.97	$	1.29	$	1.80
Diluted	$	0.75	$	0.96	$	1.28	$	1.79

For the three and six months ended June 30, 2023 and 2022, the Company had no outstanding non-vested stock units that were excluded from the computation of diluted earnings per share because including them would have had an anti-dilutive effect.