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Net Earnings Per Share
 6 Months Ended
Jun. 30, 2022
Net Earnings Per Share  
4. Net Earnings Per Share

(4) Net Earnings Per Share

 

Net earnings per share is based on the weighted average number of shares outstanding during the period while the effects of potential shares outstanding during the period are included in diluted earnings per share. The average market price during the applicable period is used to compute equivalent shares.

 

The reconciliation of the amounts used in the computation of both “basic earnings per share” and “diluted earnings per share” for the three and six months ended June 30, 2022 and 2021 is as follows:

 

For the three months ended June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 Net Earnings (Dollars in thousands)

 

 

 Weighted Average Number of Shares

 

 

 Per Share Amount

 

Basic earnings per share

 

$3,217

 

 

 

5,481,899

 

 

$0.59

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units - unvested

 

 

 

 

 

 

14,879

 

 

 

 

 

Shares held in deferred comp plan

 

 

 

 

 

 

 

 

 

 

 

 

by deferred compensation trust

 

 

 

 

 

 

164,934

 

 

 

 

 

Diluted earnings per share

 

$3,217

 

 

 

5,661,712

 

 

$0.57

 

 

For the six months ended June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 Net Earnings (Dollars in thousands)

 

 

 Weighted Average Number of Shares

 

 

 Per Share Amount

 

Basic earnings per share

 

$6,669

 

 

 

5,489,461

 

 

$1.21

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units - unvested

 

 

 

 

 

 

14,024

 

 

 

 

 

Shares held in deferred comp plan

 

 

 

 

 

 

 

 

 

 

 

 

by deferred compensation trust

 

 

 

 

 

 

164,089

 

 

 

 

 

Diluted earnings per share

 

$6,669

 

 

 

5,667,574

 

 

$1.18

 

 

For the three months ended June 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 Net Earnings (Dollars in thousands)

 

 

 Weighted Average Number of Shares

 

 

 Per Share Amount

 

Basic earnings per share

 

$4,615

 

 

 

5,630,580

 

 

$0.82

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units - unvested

 

 

-

 

 

 

12,683

 

 

 

 

 

Shares held in deferred comp plan

 

 

 

 

 

 

 

 

 

 

 

 

by deferred compensation trust

 

 

 

 

 

 

157,897

 

 

 

 

 

Diluted earnings per share

 

$4,615

 

 

 

5,801,160

 

 

$0.80

 

For the six months ended June 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 Net Earnings (Dollars in thousands)

 

 

 Weighted Average Number of Shares

 

 

 Per Share Amount

 

Basic earnings per share

 

$8,736

 

 

 

5,630,995

 

 

$1.55

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units - unvested

 

 

-

 

 

 

12,427

 

 

 

 

 

Shares held in deferred comp plan

 

 

 

 

 

 

 

 

 

 

 

 

by deferred compensation trust

 

 

 

 

 

 

157,227

 

 

 

 

 

Diluted earnings per share

 

$8,736

 

 

 

5,800,649

 

 

$1.51