Earnings Per Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share

Earnings Per Share

NOTE 16 Earnings Per Share

The calculation of basic and diluted earnings per share using the two-class method for the three months ended March 31, 2024 and 2023 are presented below:

	Three months ended
	March 31,
(dollars and shares in thousands, except per share data)	2024		2023
Net income	$	6,432	$	8,186
Dividends and undistributed earnings allocated to participating securities		40		57
Net income available to common stockholders	$	6,392	$	8,129
Weighted-average common shares outstanding for basic earnings per share		19,739		20,028
Dilutive effect of stock-based awards		247		218
Weighted-average common shares outstanding for diluted earnings per share		19,986		20,246
Earnings per common share:
Basic earnings per common share	$	0.32	$	0.41
Diluted earnings per common share	$	0.32	$	0.40