Note 11 - Earnings Per Common Share

6 Months Ended

Jun. 30, 2019

Note

11.

Earnings per Common Share

Basic earnings per common share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance.

The following table presents the computation of basic and diluted earnings per share for the

three

and

six

months ended

June 30, 2019

and

2018

(dollars in thousands, except per share data):

	Three Months Ended				Six Months Ended
	June 30, 2019		June 30, 2018		June 30, 2019		June 30, 2018
(Numerator):
Net income	$	2,086	$	2,451	$	4,347	$	5,138
(Denominator):
Weighted average shares outstanding – basic		4,963,737		4,952,712		4,962,010		4,950,922
Potentially dilutive common shares – restricted stock units		2,085		1,553		2,978		2,406
Weighted average shares outstanding – diluted		4,965,822		4,954,265		4,964,988		4,953,328
Income per common share
Basic	$	0.42	$	0.49	$	0.88	$	1.04
Diluted	$	0.42	$	0.49	$	0.88	$	1.04