Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Computations of Earnings per Common Share

Earnings per share for the three months ended March 31, 2024 and 2023 were calculated as follows (dollars in thousands, except share and per share data):

	Three Months Ended  March 31,
	2024		2023
Net income	$	1,915	4,157
Less allocation of earnings and dividends to participating securities	12		30
Net income allocated to common shareholders	$	1,903	4,127
Weighted average common shares outstanding, gross	13,196,895		11,270,010
Less average participating securities	84,593		80,840
Adjusted weighted average number of shares outstanding used in the calculation of basic and diluted earnings per common share	13,112,302		11,189,170
Earnings per common share:
Basic	$	0.15	0.37
Diluted	0.15		0.37