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EARNINGS PER COMMON SHARE
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE

Note 20—EARNINGS PER COMMON SHARE

The following reconciles the numerator and denominator of the basic and diluted earnings per common share computation:

             
   Year ended December 31, 
(Amounts in thousands)  2021   2020   2019 
Numerator (Included in basic and diluted earnings per share)   $15,465   $10,099   $10,971 
Denominator               
Weighted average common shares outstanding for:               
Basic earnings per common share    7,491    7,446    7,510 
Dilutive securities:               
Deferred compensation    58    36    58 
Warrants—Treasury stock method    —    —    20 
Diluted common shares outstanding    7,549    7,482    7,588 
Basic earnings per common share  $2.06   $1.36   $1.46 
Diluted earnings per common share  $2.05   $1.35   $1.45 
The average market price used in calculating assumed number of shares   $19.68   $15.89   $19.32 

 

On December 16, 2011 there were 107,500 warrants issued in connection with the issuance of $2.5 million in subordinated debt (See Note 18). As shown above, the warrants were dilutive for the period ended December 31, 2019. As of December 31, 2021 and December 31, 2020 there were no warrants outstanding.