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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 4 – EARNINGS PER SHARE

 

Earnings per share are based on the weighted average number of shares outstanding during the period. A computation of basic earnings per share and diluted earnings per share follows:

 

 

 

Three Months Ended

 

(Dollars in thousands, except share data)

 

March 31,

 

 

 

2020

 

 

2019

 

Basic

 

 

 

 

 

 

Net income

 

$

3,254

 

 

$

1,637

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

7,247,772

 

 

 

3,618,328

 

 

 

 

 

 

 

 

 

 

Basic earnings per common shares

 

$

0.45

 

 

$

0.45

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

Net income

 

$

3,254

 

 

$

1,637

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

7,247,772

 

 

 

3,618,328

 

Plus dilutive stock options and restricted stock units

 

 

14,633

 

 

 

15,720

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

 

 

 

 

 

 

and potentially dilutive shares

 

 

7,262,405

 

 

 

3,634,048

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

$

0.45

 

 

$

0.45

 

 

There were no stock options that were considered to be anti-dilutive to earnings per share as of March 31, 2020. There were 15,000 stock options that were considered to be anti-dilutive to earnings as of March 31, 2019 and were excluded from the calculation above.