Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Computations of Earnings per Common Share

Earnings per share for the three and six months ended June 30, 2021 and 2020 were calculated as follows (dollars in thousands, except share and per share data):

	Three Months Ended June 30,			Six Months Ended  June 30,
	2021		2020	2021	2020
Net income	$	5,290	5,057	10,530	10,083
Less allocation of earnings and dividends to participating securities	19		12	38	23
Net income allocated to common shareholders	$	5,271	5,045	10,492	10,060
Weighted average common shares outstanding, gross	12,789,684		12,970,570	12,815,089	12,963,123
Less average participating securities	45,958		29,595	45,958	29,595
Weighted average number of shares outstanding used in the calculation of basic earnings per common share	12,743,726		12,940,975	12,769,131	12,933,528
Add dilutive effect of:
Stock options	—		26	15	630
Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share	12,743,726		12,941,001	12,769,146	12,934,158
Earnings per common share:
Basic	$	0.41	0.39	0.82	0.78
Diluted	0.41		0.39	0.82	0.78