Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Computations of Earnings per Common Share

Earnings per share for the three months ended March 31, 2023 and 2022 were calculated as follows (dollars in thousands, except share and per share data):

	Three Months Ended  March 31,
	2023		2022
Net income	$	4,157	4,523
Less allocation of earnings and dividends to participating securities	30		24
Net income allocated to common shareholders	$	4,127	4,499
Weighted average common shares outstanding, gross	11,270,010		11,878,451
Less average participating securities	80,840		59,837
Weighted average number of shares outstanding used in the calculation of basic earnings per common share	11,189,170		11,818,614
Add dilutive effect of:
Stock options	—		—
Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share	11,189,170		11,818,614
Earnings per common share:
Basic	$	0.37	0.38
Diluted	0.37		0.38