Basic and Diluted Earnings Per Share

12 Months Ended

Dec. 31, 2020

Basic and Diluted Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Share Text Block

NOTE 2: BASIC AND DILUTED NET EARNINGS PER SHARE

Basic net earnings per share is computed by dividing net earnings by the weighted average common shares outstanding for

the year. Diluted net earnings per share reflect the potential dilution that could occur upon exercise of securities or other

rights for, or convertible into, shares of the Company’s common stock. As of December 31, 2020 and 2019, respectively,

the Company had no such securities or other rights issued or outstanding, and therefore, no dilutive effect to consider for

the diluted net earnings per share calculation. 

The basic and diluted net earnings per share computations for the respective years are presented below.

Year ended December 31

(Dollars in thousands, except share and per share data)

2020

2019

Basic and diluted:

Net earnings

$

7,454

$

9,741

Weighted average common shares outstanding

3,566,207

3,581,476

Net earnings per share

$

2.09

$

2.72