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Earnings Per Common Share
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Earnings Per Common Share

NOTE 8 – Earnings Per Common Share

 

The following schedule reconciles the numerators and denominators of the basic and diluted earnings per share computations for the three-month periods ended March 31, 2023 and 2022. Dilutive common shares arise from the potentially dilutive effect of the Company’s stock options that were outstanding at March 31, 2023. The assumed conversion of stock options can create a difference between basic and dilutive net income per common share. At March 31, 2023 and 2022, there were 205,689 and 9,000 options, respectively, that were not considered in computing diluted earnings per common share because they were anti-dilutive.

 

     
   Three months ended
March 31,		 
(dollars in thousands, except share data)  2023   2022 
Numerator:        
Net income available to common shareholders  $2,703    7,970 
Denominator:          
Weighted-average common shares outstanding – basic   8,025,876    7,931,855 
Common stock equivalents   66,394    164,455 
Weighted-average common shares outstanding – diluted   8,092,270    8,096,310 
Earnings per common share:          
Basic  $0.34    1.00 
Diluted   0.33    0.98