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4. Net Earnings Per Share

6 Months Ended

Jun. 30, 2019

Net earnings per share is based on the weighted average number of shares outstanding during the period while the effects of potential shares outstanding during the period are included in diluted earnings per share. The average market price during the year is used to compute equivalent shares.

The reconciliation of the amounts used in the computation of both “basic earnings per share” and “diluted earnings per share” for the three and six months ended June 30, 2019 and 2018 is as follows:

For the three months ended June 30, 2019
	Net Earnings (Dollars in thousands)		Weighted Average Number of Shares		Per Share Amount
Basic earnings per share	$	3,813		5,940,556	$	0.64
Effect of dilutive securities:
Restricted stock units		-		24,453
Diluted earnings per share	$	3,813		5,965,009	$	0.64

For the six months ended June 30, 2019
	Net Earnings (Dollars in thousands)		Weighted Average Number of Shares		Per Share Amount
Basic earnings per share	$	7,480		5,968,368	$	1.25
Effect of dilutive securities:
Restricted stock units		-		24,412
Diluted earnings per share	$	7,480		5,992,780	$	1.25

For the three months ended June 30, 2018
	Net Earnings (Dollars in thousands)		Weighted Average Number of Shares		Per Share Amount
Basic earnings per share	$	3,176		5,995,256	$	0.53
Effect of dilutive securities:
Restricted stock units		-		18,917
Diluted earnings per share	$	3,176		6,014,173	$	0.53

For the six months ended June 30, 2018
	Net Earnings (Dollars in thousands)		Weighted Average Number of Shares		Per Share Amount
Basic earnings per share	$	6,479		5,995,256	$	1.08
Effect of dilutive securities:
Restricted stock units		-		17,964
Diluted earnings per share	$	6,479		6,013,220	$	1.08