Earnings Per Common Share

12 Months Ended

Dec. 31, 2018

Earnings Per Common Share [Abstract]

NOTE 14 – Earnings Per Common Share

The following schedule reconciles the numerators and denominators of the basic and diluted earnings per share computations for the years ended December 31, 2018, 2017 and 2016. Dilutive common shares arise from the potentially dilutive effect of the Company’s stock options and warrants that are outstanding. The assumed conversion of stock options and warrants can create a difference between basic and dilutive net income per common share.

At December 31, 2018, 2017 and 2016, options totaling 195,425, 107,015, and 108,315, respectively, were anti-dilutive in the calculation of earnings per share as their exercise price exceeded the fair market value. These options were therefore excluded from the diluted earnings per share calculation.


			December 31,
(dollars in thousands, except share data)		2018	2017	2016
Numerator:
Net income	$	22,289	13,045	13,036
Net income available to common shareholders	$	22,289	13,045	13,036
Denominator:
Weighted-average common shares outstanding - basic		7,384,200	7,005,703	6,318,322
Common stock equivalents		353,295	387,674	402,566
Weighted-average common shares outstanding - diluted		7,737,495	7,393,377	6,720,888
Earnings per common share:
Basic	$	3.02	1.86	2.06
Diluted	$	2.88	1.76	1.94