Note 4 - Earnings Per Common Share -

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 4 – Earnings per Common Share –

Basic earnings per share (“EPS”) represents income available to common shareholders divided by the weighted average number of common shares outstanding; no dilution for any potentially convertible shares is included in the calculation. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. The potential common shares that may be issued by the Company relate to outstanding stock options and unvested restricted stock awards (“RSAs”), excluding any that were antidilutive.

	For The Three Months Ended June 30,				For The Six Months Ended June 30,
	2020		2019		2020		2019
	(Dollars in thousands, except per share data)
Numerator:
Net Income Available to Common Shares	$	2,052	$	6,843	$	6,551	$	12,502
Denominator:
Weighted Average Common Shares Outstanding		18,108,068		13,361,482		15,710,611		13,324,725
Dilutive Effect of Stock Options and RSAs		13,890		379,455		65,765		379,455
Weighted Average Dilutive Common Shares		18,121,958		13,740,937		15,776,376		13,704,180
Basic Earnings Per Common Share From Net Income Available to Common Shares	$	0.11	$	0.51	$	0.42	$	0.94
Diluted Earnings Per Common Share From Net Income Available to Common Shares	$	0.11	$	0.50	$	0.42	$	0.91