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Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2020
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, 2020

 

 

September 30, 2019

 

 

September 30, 2020

 

 

September 30, 2019

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

4,410

 

 

$

4,275

 

 

$

13,319

 

 

$

13,679

 

Less: distributed earnings allocated to participating

   securities

 

 

(15

)

 

 

(14

)

 

 

(41

)

 

 

(37

)

Less: undistributed earnings allocated to participating

   securities

 

 

(19

)

 

 

(18

)

 

 

(59

)

 

 

(63

)

Net earnings available to common shareholders

 

$

4,376

 

 

$

4,243

 

 

$

13,219

 

 

$

13,579

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding including

   participating securities

 

 

11,142,797

 

 

 

11,121,426

 

 

 

11,135,695

 

 

 

11,105,993

 

Less: average unvested restricted shares

 

 

(83,257

)

 

 

(79,335

)

 

 

(83,445

)

 

 

(81,569

)

Weighted average common shares outstanding

 

 

11,059,540

 

 

 

11,042,091

 

 

 

11,052,250

 

 

 

11,024,424

 

Basic and diluted earnings per share

 

$

0.40

 

 

$

0.38

 

 

$

1.20

 

 

$

1.23