Earnings Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share

Earnings Per Share

NOTE 23 Earnings Per Share

The calculation of basic and diluted earnings per share using the two-class method for the years ending December 31, 2023, 2022, and 2021 is presented below:

	Year ended
	December 31,
(dollars and shares in thousands, except per share data)	2023		2022		2021
Net income	$	11,696	$	40,005	$	52,681
Dividends and undistributed earnings allocated to participating securities		(5)		416		802
Net income available to common stockholders	$	11,701	$	39,589	$	51,879
Weighted-average common shares outstanding for basic earnings per share		19,922		18,640		17,189
Dilutive effect of stock-based awards		221		244		297
Weighted-average common shares outstanding for diluted earnings per share		20,143		18,884		17,486
Earnings per common share:
Basic earnings per common share	$	0.59	$	2.12	$	3.02
Diluted earnings per common share	$	0.58	$	2.10	$	2.97