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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Calculation of Basic Earnings Per Share

		(in thousands of dollars)								(in thousands of dollars)
		Three Months Ended								Nine Months Ended
		September 30, 2019				September 30, 2018				September 30, 2019				September 30, 2018
Earnings per share
Net income		$	4,275			$	3,875			$	13,679			$	11,756
Less: distributed earnings allocated to participating    securities			(14	)			(13	)			(37	)			(38	)
Less: undistributed earnings allocated to participating    securities			(18	)			(26	)			(63	)			(80	)
Net earnings available to common shareholders		$	4,243			$	3,836			$	13,579			$	11,638
Weighted average common shares outstanding including    participating securities			11,121,426				9,274,507				11,105,993				9,268,819
Less: average unvested restricted shares			(79,335	)			(93,242	)			(81,569	)			(92,683	)
Weighted average common shares outstanding			11,042,091				9,181,265				11,024,424				9,176,136
Basic earnings and diluted per share		$	0.38			$	0.42			$	1.23			$	1.27

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- Definition

Tabular disclosure of the effect of income (loss) on basic earnings per share.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
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