Note 11 - Earnings Per Common Share

9 Months Ended

Sep. 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

nine

months ended

September 30, 2019

and

2018

(dollars in thousands, except per share data):

	Three Months Ended				Nine Months Ended
	September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2018
(Numerator):
Net income	$	2,493	$	2,676	$	6,840	$	7,814
(Denominator):
Weighted average shares outstanding – basic		4,966,641		4,955,162		4,963,571		4,952,351
Potentially dilutive common shares – restricted stock units		2,485		3,000		2,813		2,604
Weighted average shares outstanding – diluted		4,969,126		4,958,162		4,966,384		4,954,955
Income per common share
Basic	$	0.50	$	0.54	$	1.38	$	1.58
Diluted	$	0.50	$	0.54	$	1.38	$	1.58