XML 30 R19.htm IDEA: XBRL DOCUMENT v3.22.2.2
Earnings per Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings per Share
Note 11 – Earnings per Share

We determine basic earnings per share (“EPS”) by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted EPS is determined by dividing net income available to common shareholders by the weighted-average number of shares outstanding, increased by both the number of shares that would be issued assuming the exercise of instruments under our incentive stock plan.
The following table presents our calculation of EPS for the periods shown:
 Three Months Ended September 30,Nine Months Ended September 30,
(Dollars in thousands except shares and per share data)2022202120222021
Numerator for basic and diluted earnings per share:
Net income$2,718 $11,828 $8,538 $29,160 
Less: Dividends on preferred stock— — — 35 
Net income available to common shareholders$2,718 $11,828 $8,538 $29,125 
Denominator:
Total weighted-average shares outstanding12,238,505 11,880,348 12,170,028 11,684,570 
Effect of dilutive stock options and restricted stock units616,446 943,961 682,546 881,239 
Total diluted weighted-average shares outstanding12,854,951 12,824,309 12,852,574 12,565,809 
Earnings per share - basic$0.22 $1.00 $0.70 $2.49 
Earnings per share - diluted$0.21 $0.92 $0.66 $2.32 
Securities not included in the computation of diluted EPS because the effect would be antidilutive564,604 267,603 533,543 283,750