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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Calculation of Basic Earnings Per Share

 

 

(in thousands of dollars)

 

 

(in thousands of dollars)

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2018

 

 

June 30, 2017

 

 

June 30, 2018

 

 

June 30, 2017

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

4,114

 

 

$

3,223

 

 

$

7,881

 

 

$

6,062

 

Less: distributed earnings allocated to participating

   securities

 

 

(13

)

 

 

(11

)

 

 

(25

)

 

 

(21

)

Less: undistributed earnings allocated to participating

   securities

 

 

(28

)

 

 

(19

)

 

 

(54

)

 

 

(36

)

Net earnings available to common shareholders

 

$

4,073

 

 

$

3,193

 

 

$

7,802

 

 

$

6,005

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding including

   participating securities (1)

 

 

9,265,898

 

 

 

9,241,750

 

 

 

9,265,928

 

 

 

9,241,750

 

Less: average unvested restricted shares (1)

 

 

(92,368

)

 

 

(86,300

)

 

 

(92,398

)

 

 

(86,300

)

Weighted average common shares outstanding (1)

 

 

9,173,530

 

 

 

9,155,450

 

 

 

9,173,530

 

 

 

9,155,450

 

Basic earnings and diluted per share (1)

 

$

0.44

 

 

$

0.35

 

 

$

0.85

 

 

$

0.66

 

 

 

(1)

Share data has been adjusted to reflect a 2-for-1 stock split on September 20, 2017