XML 30 R20.htm IDEA: XBRL DOCUMENT
v3.22.1

Earnings per Share | 3 Months Ended
--- | ---
Mar. 31, 2022
Earnings Per Share [Abstract] |
Earnings per Share | Earnings per Share Stock Dividend On July 1, 2021, the Company paid a special stock dividend of 4% to common shareholders of record at the close of business on June 15, 2021. For all periods presented, share information, including basic and diluted earnings per share, has been adjusted retroactively to reflect this change. Basic earnings per share is computed by dividing income available to shareholders by the weighted average number of shares outstanding during the period. Diluted earnings per share gives effect to all dilutive potential shares that were outstanding during the period. Presented below is a summary of the components used to calculate basic and diluted earnings per common share, which have been restated for all stock dividends:
|  |  | Three Months Ended March 31,
(dollars in thousands, except per share data) |  |  |  |  | 2022 |  | 2021
Basic earnings per share: |  |  |  |  |  |  |
Net income available to shareholders |  |  |  |  | $ | 6,609 |  | $ | 5,839
Average shares outstanding |  |  |  |  | 6,604,493 |  | 6,617,368
Basic earnings per share |  |  |  |  | $ | 1.00 |  | $ | 0.88
Diluted earnings per share: |  |  |  |  |  |  |
Net income available to shareholders |  |  |  |  | $ | 6,609 |  | $ | 5,839
Average shares outstanding |  |  |  |  | 6,604,493 |  | 6,617,368
Diluted earnings per share |  |  |  |  | $ | 1.00 |  | $ | 0.88
Repurchase Program The Company's 2019 Repurchase Plan was amended during the second quarter of 2021 to authorize the purchase of up to an additional $5.0 million in market value of the Company's common stock. Management was given discretion to determine the number and pricing of the shares to be purchased, as well as the timing of any such purchases. During the first quarter 2022, the Company repurchased 23,536 common shares at an average cost of $25.75 per share totaling $0.6 million. As of March 31, 2022, $4.4 million remained available for share repurchases pursuant to that authorization.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration