Shareholders' Equity and Net Income Per Common Share (Tables)

12 Months Ended

Dec. 31, 2022

Stockholders' Equity Note [Abstract]

Reconciliation of Basic and Diluted Net Income Per Common Share

A reconciliation of basic and diluted net income per common share for the years ended December 31 follows:

	2022		2021		2020
	(In thousands, except per share amounts)
Net income	$	63,351	$	62,895	$	56,152
Weighted average shares outstanding (1)	21,096		21,585		21,977
Stock units for deferred compensation plan for non-employee directors	137		121		121
Effect of stock options	38		69		90
Performance share units	25		32		33
Weighted average shares outstanding for calculation of diluted earnings per share	21,296		21,807		22,221
Net income per common share
Basic (1)	$	3.00	$	2.91	$	2.56
Diluted	$	2.97	$	2.88	$	2.53

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(1) Basic net income per common share includes weighted average common shares outstanding during the period and participating share awards.