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Earnings Per Share
 9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Earnings Per Share

Note 3 – Earnings Per Share

Basic earnings per common share are computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share are computed by dividing net income by the effect of the issuance of potential common shares that are dilutive and by the sum of the weighted-average number of shares of common stock outstanding. All shares owned by the Company’s 401(k) Employee Stock Ownership Plan (KSOP) are included in the earnings per share calculations.

The reconciliation of the components of the basic and diluted earnings per share is as follows (amounts in thousands):

 

 

 

For the Three Months

 

 

For the Nine Months

 

 

 

Ended September 30,

 

 

Ended September 30,

 

 

 

2021

 

 

 

2020

 

 

2021

 

 

 

2020

 

Net earnings available to common shareholders

 

$

6,833

 

 

$

4,067

 

 

$

19,648

 

 

$

11,387

 

Weighted average common shares outstanding

 

 

6,545,008

 

 

 

6,498,288

 

 

 

6,532,128

 

 

 

6,498,669

 

Dilutive effect of stock options

 

 

84,163

 

 

 

73,452

 

 

 

72,895

 

 

 

74,759

 

Diluted common shares

 

 

6,629,171

 

 

 

6,571,740

 

 

 

6,605,023

 

 

 

6,573,428

 

Basic earnings per common share

 

$

1.04

 

 

$

0.63

 

 

$

3.01

 

 

$

1.75

 

Diluted earnings per common share

 

$

1.03

 

 

$

0.62

 

 

$

2.97

 

 

$

1.73