Earnings Per Common Share

12 Months Ended

Dec. 31, 2021

Earnings Per Common Share [Abstract]

EARNINGS PER COMMON SHARE

NOTE 19. EARNINGS PER COMMON SHARE

Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents (stock-based awards). The following table provides information relating to the calculation of earnings per common share for the years ended December 31.

(In thousands, except per share data)	2021		2020
Net Income	$	15,368	$	15,730
Weighted average shares outstanding - Basic		13,119		12,380
Dilutive effect of common stock equivalents-options		—		1
Weighted average shares outstanding - Diluted		13,119		12,381
Earnings per common share - Basic and Diluted	$	1.17	$	1.27

There were no weighted average common stock equivalents excluded from the calculation of diluted earnings per share for the years ended December 31, 2021 and 2020.