Earnings Per Share

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Earnings Per Share

Note 3. Earnings Per Share

Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding. Diluted earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding and dilutive common share equivalents using the treasury stock method. Dilutive common share equivalents include common shares issuable upon exercise of outstanding stock options and restricted stock. The effect from the stock options and restricted stock on

incremental shares from the assumed conversions for net income per share-basic and net income per share-diluted are presented below. There were no antidilutive shares for the three and six months ended June 30, 2021.  There were 116 thousand and 85 thousand antidilutive shares for the three and six months ended June 30, 2020, respectively.

The following is a summary of the basic and diluted earnings per share computation (dollars in thousands, except per share data):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Basic earnings per share computation:
Net income available to common shareholders	$	8,778	$	6,174	$	18,534	$	8,907
Average common shares outstanding – basic		15,003,657		15,152,768		15,007,593		14,773,935
Basic earnings per share	$	0.59	$	0.41	$	1.24	$	0.60
Diluted earnings per share computation:
Net income available to common shareholders	$	8,778	$	6,174	$	18,534	$	8,907
Average common shares outstanding – basic		15,003,657		15,152,768		15,007,593		14,773,935
Incremental shares from assumed conversions:
Stock options and restricted stock		122,527		49,567		111,331		68,551
Average common shares outstanding - diluted		15,126,184		15,202,335		15,118,924		14,842,486
Diluted earnings per common share	$	0.58	$	0.41	$	1.23	$	0.60