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Earnings Per Share | 12 Months Ended
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Dec. 31, 2018
Earnings Per Share [Abstract] |
Earnings Per Share | Note 12 – Earnings Per Share Basic ea r nings p er sh a re is calc ulated using the tw o-class method. T he tw o-class method is an ea r nings allo cation f o rmula und er w hich ea r nings p er sh a re is calc ulated fr om c ommon sto ck a nd p a rticip ating sec u rities acc o r ding to divid e nds d ecla r ed a nd p a rticip ation rights in undistributed ea r nings. U nd er this method, all ea r nings distributed a nd undistribute d, a re allo cated to p a rticip ating sec u rities a nd c ommon sh a r es b ased on th eir r esp ective rights to r eceive divid e nds. U nv ested sh a r e-b a s e d p a y m e n t a w a r d s t h a t c on t a i n non-f o rf e it a b l e r i gh t s t o d i v i d e nd s a r e c on s i d e r e d p a r ti c i p a ti n g s ec u r iti e s (i.e. unv e s t e d r e s t r i c t e d s t o c k), no t s ub j ec t t o p e rf o r m a n c e b a s e d m ea s u r e s. B a s i c ea r n i ng s p e r s h a r e i s ca l c u l a t e d b y d i v i d i n g n e t i n c o me a v a il a b l e t o c o mm o n s h a r e ho l d e r s b y t h e w e i gh t e d a v e r a g e nu m b e r o f c o mm o n s h a r e s ou t s t a nd i n g. Application of the two-class method for participating securities results a more dilutive basic earnings per share as the participating securities are allocated the same amount of income as if they are outstanding for purposes of basic earnings per share. There is no additional potential dilution in calculating diluted earnings per share, therefore basic and diluted earnings per share are the same amounts. Other than the restricted stock plan, the Company has no other stock based compensation plans. The table below presents basic and diluted earnings per share for the years ended December 31, 2018, 2017, and 2016.
|  | Year Ended |
|  | December 31, |  |  | December 31, |  |  | December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Earnings per share |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 14,949 |  |  | $ | 12,720 |  |  | $ | 11,664 |
Less: distributed earnings allocated to participating securities |  |  | (52 | ) |  |  | (45 | ) |  |  | (37 | )
Less: undistributed earnings allocated to participating securities |  |  | (98 | ) |  |  | (77 | ) |  |  | (64 | )
Net earnings available to common shareholders |  | $ | 14,799 |  |  | $ | 12,598 |  |  | $ | 11,563 |
Weighted average common shares outstanding including participating securities |  |  | 9,272,964 |  |  |  | 9,250,825 |  |  |  | 9,224,230 |
Less: average unvested restricted shares |  |  | (93,000 | ) |  |  | (88,664 | ) |  |  | (79,964 | )
Weighted average common shares outstanding |  |  | 9,179,964 |  |  |  | 9,162,161 |  |  |  | 9,144,266 |
Basic and diluted earnings per share |  | $ | 1.61 |  |  | $ | 1.38 |  |  | $ | 1.27 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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