Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Summary of earnings per share

The following schedule presents earnings per share data for the three-month periods ended June 30, 2023 and 2022 (in thousands, except per share data):

	Three months ended June 30,
	2023		2022
Net income applicable to common stock	$	6,788	$	6,327
Weighted average number of common shares outstanding		6,270		6,305
Basic earnings per share	$	1.08	$	1.00
Net income applicable to common stock	$	6,788	$	6,327
Weighted average number of common shares outstanding		6,270		6,305
Dilutive effect on common shares outstanding		95		132
Weighted average number of diluted common shares outstanding		6,365		6,437
Diluted earnings per share	$	1.07	$	0.98

The following schedule presents earnings per share data for the six-month periods ended June 30, 2023 and 2022 (in thousands, except per share data):

	Six months ended June 30,
	2023		2022
Net income applicable to common stock	$	12,885	$	12,348
Weighted average number of common shares outstanding		6,263		6,385
Basic earnings per share	$	2.06	$	1.93
Net income applicable to common stock	$	12,885	$	12,348
Weighted average number of common shares outstanding		6,263		6,385
Dilutive effect on common shares outstanding		112		141
Weighted average number of diluted common shares outstanding		6,375		6,526
Diluted earnings per share	$	2.02	$	1.89

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following schedule presents stock options granted but not exercised and the amount of share that were anti-dilutive because the weighted average exercise price equaled or exceeded the estimated fair value of our common stock for the three- and six-month periods ended June 30, 2023 and 2022:

	Three months ended June 30,
	2023				2022
			Weighted Ave				Weighted Ave
	Options		Exercise Price		Options		Exercise Price
Options to purchase		276,704	$	19.56		328,021	$	17.65
Anti-dilutive		95,750	$	32.45		95,750	$	32.45

	Six months ended June 30,
	2023				2022
			Weighted Ave				Weighted Ave
	Options		Exercise Price		Options		Exercise Price
Options to purchase		280,732	$	19.49		333,753	$	16.31
Anti-dilutive		95,750	$	32.45		95,750	$	32.45