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Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2020
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, 2020

 

 

June 30, 2019

 

 

June 30, 2020

 

 

June 30, 2019

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

4,804

 

 

$

6,180

 

 

$

8,909

 

 

$

9,404

 

Less: distributed earnings allocated to participating

   securities

 

 

(13

)

 

 

(11

)

 

 

(26

)

 

 

(23

)

Less: undistributed earnings allocated to participating

   securities

 

 

(22

)

 

 

(33

)

 

 

(40

)

 

 

(45

)

Net earnings available to common shareholders

 

$

4,769

 

 

$

6,136

 

 

$

8,843

 

 

$

9,336

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding including

   participating securities

 

 

11,129,341

 

 

 

11,106,367

 

 

 

11,132,105

 

 

 

11,098,149

 

Less: average unvested restricted shares

 

 

(80,062

)

 

 

(77,304

)

 

 

(82,397

)

 

 

(80,343

)

Weighted average common shares outstanding

 

 

11,049,279

 

 

 

11,029,063

 

 

 

11,049,708

 

 

 

11,017,806

 

Basic and diluted earnings per share

 

$

0.43

 

 

$

0.56

 

 

$

0.80

 

 

$

0.85