NOTE 25 – EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

NOTE 25 – EARNINGS PER SHARE

NOTE 25 – EARNINGS PER SHARE

The calculation of earnings per share is as follows:

Years ended December 31, (in thousands, except per share amounts)		2020			2019			2018
Net income applicable to common shareholders	$	11,940		$	11,136		$	8,824
Less: Undistributed earnings allocated to participating securities		(165	)		(160	)		(111	)
Net income allocated to common stock	$	11,775		$	10,976		$	8,713
Weighted average common shares issued		2,837			2,817			2,798
Less: Unvested restricted stock awards		(39	)		(35	)		(35	)
Weighted average common shares outstanding used to calculate basic earnings per common share		2,798			2,782			2,763
Add: Dilutive effect of stock options		8			12			17
Weighted average common shares outstanding used to calculate diluted earnings per common share		2,806			2,794			2,780
Earnings per common share (basic)	$	4.21		$	3.95		$	3.15
Earnings per common share (diluted)	$	4.20		$	3.93		$	3.13