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

12 Months Ended

Dec. 31, 2023

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:

	2023		2022		2021
	(In thousands, except per share amounts)
Net income	$	59,067	$	63,351	$	62,895
Weighted average shares outstanding (1)	20,976		21,096		21,585
Stock units for deferred compensation plan for non-employee directors	160		137		121
Effect of stock options	11		38		69
Performance share units	23		25		32
Weighted average shares outstanding for calculation of diluted earnings per share	21,170		21,296		21,807
Net income per common share
Basic (1)	$	2.82	$	3.00	$	2.91
Diluted	$	2.79	$	2.97	$	2.88

_________________________________________

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