EARNINGS PER SHARE (Dollars In Thousands, Except Per Share Amounts)
The following table presents a reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per common share ("EPS") for each of the years in the three-year period ended December 31, 2024.  When applicable, share and per share amounts have been adjusted for the September 26, 2023 3% stock dividend.
Earnings Per Share
Year-to-Date Period Ended:
12/31/202412/31/202312/31/2022
Earnings Per Share - Basic:
Net Income$29,709 $30,075 $48,799 
Weighted Average Shares - Basic16,739 17,037 17,008 
Earnings Per Share - Basic$1.77 $1.77 $2.86 
Earnings Per Share - Diluted:
Net Income$29,709 $30,075 $48,799 
Weighted Average Shares - Basic16,739 17,037 17,008 
Dilutive Average Shares Attributable to Stock Options— 51 
Weighted Average Shares - Diluted16,745 17,037 17,059 
Earnings Per Share - Diluted$1.77 $1.77 $2.86 
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About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.