Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Common Share

The following table summarizes the calculation of earnings per share for the periods indicated (in thousands, except per share data):

	Three Months Ended
	2023		2022
Net income	$	2,168	$	1,723
LESS: Participating dividends - Unvested Restricted Stock Awards (“RSAs”)	(3)		(5)
LESS: Income allocated to participating securities - Unvested RSAs	(11)		(7)
Net income available to common stockholders - basic	2,154		1,711
ADD BACK: Income allocated to participating securities - Unvested RSAs	11		7
LESS: Income reallocated to participating securities - Unvested RSAs	(11)		(7)
Net income available to common stockholders - diluted	$	2,154	$	1,711
Weighted average number of shares outstanding, basic	2,578,413		2,602,168
Effect of potentially dilutive common shares	25,630		38,191
Weighted average number of shares outstanding, diluted	2,604,043		2,640,359
Earnings per share, basic	$	0.84	$	0.66
Earnings per share, diluted	$	0.83	$	0.65