Earnings Per Common Share

6 Months Ended

Jun. 30, 2019

Earnings per common share

Earnings Per Common Share

NOTE 9 – Earnings Per Common Share

The following schedule reconciles the numerators and denominators of the basic and diluted earnings per share computations for the three and six month periods ended June 30, 2019 and 2018. Dilutive common shares arise from the potentially dilutive effect of the Company’s stock options that were outstanding at June 30, 2019. The assumed conversion of stock options can create a difference between basic and dilutive net income per common share. At June 30, 2019 and 2018, there were 262,831 and 166,172 options, respectively, that were not considered in computing diluted earnings per common share because they were anti-dilutive.

	Three months ended			Six months ended
	June 30,			June 30,
(dollars in thousands, except share data)		2019	2018	2019	2018
Numerator:
Net income available to common shareholders	$	7,240	5,510	13,249	10,724
Denominator:
Weighted-average common shares outstanding – basic		7,495,508	7,370,709	7,477,525	7,353,867
Common stock equivalents		260,313	380,437	271,354	385,215
Weighted-average common shares outstanding – diluted		7,755,821	7,751,146	7,748,879	7,739,082
Earnings per common share:
Basic	$	0.97	0.75	1.77	1.46
Diluted	$	0.93	0.71	1.71	1.39