Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings per common share

Schedule of Earnings Per Share Calculation

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, 2020 and 2019. Dilutive common shares arise from the potentially dilutive effect of the Company’s stock options that were outstanding at June 30, 2020. The assumed conversion of stock options can create a difference between basic and dilutive net income per common share. At June 30, 2020 and 2019, there were 336,601 and 262,831 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)		2020	2019	2020	2019
Numerator:
Net income available to common shareholders	$	4,678	7,240	7,510	13,249
Denominator:
Weighted-average common shares outstanding – basic		7,722,419	7,495,508	7,700,508	7,477,525
Common stock equivalents		96,232	260,313	122,404	271,354
Weighted-average common shares outstanding – diluted		7,818,651	7,755,821	7,822,912	7,748,879
Earnings per common share:
Basic	$	0.61	0.97	0.98	1.77
Diluted	$	0.60	0.93	0.96	1.71