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Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Computations of Earnings per Common Share

Earnings per share for the three months ended March 31, 2022 and 2021 were calculated as follows (dollars in thousands, except share and per share data):


									Three Months Ended March 31,
															2022						2021
Net income															$	4,523					5,240
Less allocation of earnings and dividends to participating securities															24						18
Net income allocated to common shareholders															$	4,499					5,222

Weighted average common shares outstanding, gross															11,878,451						12,840,782
Less average participating securities															59,837						45,958
Weighted average number of shares outstanding used in the calculation of basic earnings per common share															11,818,614						12,794,824
Add dilutive effect of:
Stock options															—						28
Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share															11,818,614						12,794,852

Earnings per common share:
Basic															$	0.38					0.41
Diluted															0.38						0.41