Three months ended

September 30,

(dollars in thousands except per share data)

2021

2020

Net income

$

12,746

$

9,986

Less: distributed earnings allocated to participating securities

(6)

(4)

Less: undistributed earnings allocated to participating securities

(39)

(26)

Net income available to common shareholders

$

12,701

$

9,956

Weighted-average common shares outstanding, including participating securities

8,898,994

9,126,866

Less: weighted-average participating securities outstanding (restricted shares)

(31,845)

(27,260)

Denominator for basic earnings per share -

Weighted-average shares outstanding

8,867,149

9,099,606

Effect of dilutive securities stock options or awards

10,173

2,191

Denominator for diluted earnings per share

8,877,322

9,101,797

Basic earnings per share available to common stockholders

$

1.43

$

1.09

Diluted earnings per share available to common stockholders

$

1.43

$

1.09