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Earnings per Share (Tables)
 3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Summary of Reconciliation of Net Income and Weighted Average Shares Outstanding for Calculation of Basic and Diluted Earnings per Share

The following table represents a reconciliation of the net income and weighted average shares outstanding for the calculation of basic and diluted earnings per share for the three months ended March 31, 2021 and 2020 (in thousands except per share data):

 

 

 

For the Three Months Ended March 31,

 

 

 

2021

 

 

2020

 

Numerator

 

 

 

 

 

 

 

 

Net income

 

$

981

 

 

$

426

 

Earnings allocated to non-vested shares

 

 

124

 

 

 

14

 

Subtotal

 

$

857

 

 

$

412

 

Denominator

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

5,083,470

 

 

 

5,584,321

 

Effect of dilutive nominal options

 

 

-

 

 

 

4,366

 

Effect of dilutive contingently earned shares

 

 

13,127

 

 

 

34,013

 

Dilutive average shares outstanding

 

 

5,096,597

 

 

 

5,622,700

 

Basic earnings per share

 

$

0.17

 

 

$

0.07

 

Dilutive earnings per share

 

$

0.17

 

 

$

0.07