Earnings Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share

Earnings Per Share

NOTE 18 Earnings Per Share

The calculation of basic and diluted earnings per share using the two-class method for the three and six months ended June 30, 2024 and 2023 are presented below:

	Three months ended				Six months ended
	June 30,				June 30,
(dollars and shares in thousands, except per share data)	2024		2023		2024		2023
Net income	$	6,208	$	9,104	$	12,640	$	17,290
Dividends and undistributed earnings allocated to participating securities		38		62		78		120
Net income available to common stockholders	$	6,170	$	9,042	$	12,562	$	17,170
Weighted-average common shares outstanding for basic earnings per share		19,777		20,033		19,758		20,030
Dilutive effect of stock-based awards		273		208		260		213
Weighted-average common shares outstanding for diluted earnings per share		20,050		20,241		20,018		20,243
Earnings per common share:
Basic earnings per common share	$	0.31	$	0.45	$	0.64	$	0.86
Diluted earnings per common share	$	0.31	$	0.45	$	0.63	$	0.85