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Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2023
Notes Tables  
Schedule of Basic Earnings Per Share and Diluted Earnings Per Share

 

Three Months Ended

 

 

Nine Months Ended

 

(Dollars in thousands, except share data)

September 30,

 

 

September 30,

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Basic

 

 

 

 

 

 

 

 

 

 

 

Net income

$

5,122

 

 

$

5,813

 

 

$

15,968

 

 

$

16,956

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

7,537,996

 

 

 

7,507,538

 

 

 

7,528,887

 

 

 

7,500,877

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common shares

$

0.68

 

 

$

0.77

 

 

$

2.12

 

 

$

2.26

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

Net income

$

5,122

 

 

$

5,813

 

 

$

15,968

 

 

$

16,956

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

7,537,996

 

 

 

7,507,538

 

 

 

7,528,887

 

 

 

7,500,877

 

Plus dilutive stock options and restricted stock units

 

30,038

 

 

 

12,820

 

 

 

33,273

 

 

 

17,279

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding and potentially dilutive shares

 

7,568,034

 

 

 

7,520,358

 

 

 

7,562,160

 

 

 

7,518,156

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

$

0.68

 

 

$

0.77

 

 

$

2.12

 

 

$

2.26

 

 

There were 15,000 stock options that were considered anti-dilutive to earnings per share for the three and nine months ended September 30, 2023. There were 15,000 stock options that were considered anti-dilutive to earnings per share for the three and nine months ended September 30, 2022. There were no restricted stock units that were considered anti-dilutive for the three and nine months ended September 30, 2023 and September 30, 2022.