Earnings per Common Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Earnings per Common Share

Earnings per Common Share

The following table presents the calculation of EPS:

(Dollars and shares in thousands, except per share amounts)
	Three Months		Six Months
Periods ended June 30,	2024	2023	2024	2023
Earnings for basic and diluted earnings per common share:
Net income	$10,815	$11,256	$21,751	$24,068
Less: dividends and undistributed earnings allocated to participating securities	(8)	(19)	(20)	(48)
Net income available to common shareholders	$10,807	$11,237	$21,731	$24,020
Shares:
Weighted average common shares outstanding for basic EPS	17,052	17,011	17,042	17,042
Dilutive effect of common stock equivalents	58	19	40	43
Weighted average common shares outstanding for diluted EPS	17,110	17,030	17,082	17,085
Earnings per common share:
Basic EPS	$0.63	$0.66	$1.28	$1.41
Diluted EPS	$0.63	$0.66	$1.27	$1.41

Weighted average common stock equivalents, not included in common stock equivalents above because they were anti-dilutive, totaled 458,539 and 459,100, respectively, for the three and six months ended June 30, 2024, compared to 478,490 and 377,989, respectively, for the same periods in 2023.