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4. Net Earnings Per Share
 9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
4. Net Earnings Per Share

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 applicable period 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 nine months ended September 30, 2020 and 2019 is as follows:

 

For the three months ended September 30, 2020              

 

   Net Earnings (Dollars in thousands)  Weighted Average Number of Shares  Per Share Amount
Basic earnings per share  $4,509    5,787,504   $0.78 
Effect of dilutive securities:               
Restricted stock units   —      15,299      
Diluted earnings per share  $4,509    5,802,803   $0.78 

 

For the nine months ended September 30, 2020              

 

   Net Earnings (Dollars in thousands)  Weighted Average Number of Shares  Per Share Amount
Basic earnings per share  $9,437    5,815,044   $1.62 
Effect of dilutive securities:               
Restricted stock units   —      13,960      
Diluted earnings per share  $9,437    5,829,004   $1.62 

 

For the three months ended September 30, 2019              

 

   Net Earnings (Dollars in thousands)  Weighted Average Number of Shares  Per Share Amount
Basic earnings per share  $3,621    5,919,322   $0.62 
Effect of dilutive securities:               
Restricted stock units   —      25,883      
Diluted earnings per share  $3,621    5,945,205   $0.61 

 

For the nine months ended September 30, 2019              

 

   Net Earnings (Dollars in thousands)  Weighted Average Number of Shares  Per Share Amount
Basic earnings per share  $11,101    5,951,840   $1.87 
Effect of dilutive securities:               
Restricted stock units   —      24,908      
Diluted earnings per share  $11,101    5,976,748   $1.86