Earnings per Common Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings per Common Share

Schedule of computation of earnings per share

The following table summarizes the computation of earnings per share for the three and six months ended June 30, 2022 and June 30, 2021.

	Three months ended				Six months ended
	June 30,				June 30,
	2022		2021		2022		2021
Earnings per common share - basic:
Income available to common shareholders (in thousands):
Net income	$	7,882	$	6,079	$	15,556	$	11,153
Less: Income attributable to unvested restricted stock awards		(34)		(29)		(70)		(55)
Net income available to common shareholders	$	7,848	$	6,050	$	15,486	$	11,098
Weighted average shares outstanding:
Common shares outstanding, including unvested restricted stock		13,992,414		13,637,112		13,920,387		13,632,393
Less: Unvested restricted stock		(60,158)		(64,333)		(62,330)		(67,073)
Weighted-average common shares outstanding - basic		13,932,256		13,572,779		13,858,057		13,565,320
Earnings per common share - basic	$	0.56	$	0.45	$	1.11	$	0.82
Earnings per common share - diluted:
Income available to common shareholders (in thousands):
Net income	$	7,882	$	6,079	$	15,556	$	11,153
Less: Income attributable to unvested restricted stock awards		(34)		(28)		(69)		(54)
Net income available to common shareholders	$	7,848	$	6,051	$	15,487	$	11,099
Weighted average shares outstanding:
Common shares outstanding, including unvested restricted stock		13,992,414		13,637,112		13,920,387		13,632,393
Less: Unvested restricted stock		(60,158)		(64,333)		(62,330)		(67,073)
Plus: Effect of dilutive options		152,904		295,368		184,148		287,616
Weighted-average common shares outstanding - diluted		14,085,160		13,868,147		14,042,205		13,852,936
Earnings per common share - diluted	$	0.56	$	0.44	$	1.10	$	0.80