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Net Earnings Per Share
 9 Months Ended
Sep. 30, 2021
Net Earnings Per Share  
4. Net Earnings Per Share

(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, 2021 and 2020 is as follows:

 

For the three months ended September 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 Net Earnings (Dollars in thousands)

 

 

 Weighted

Average

Number of

Shares

 

 

 Per Share

Amount

 

Basic earnings per share

 

$3,390

 

 

 

5,544,596

 

 

$0.61

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units

 

 

-

 

 

 

14,690

 

 

 

 

 

Shares held in deferred comp plan

 

 

 

 

 

 

159,797

 

 

 

 

 

Diluted earnings per share

 

$3,390

 

 

 

5,719,083

 

 

$0.59

 

 

For the nine months ended September 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 Net Earnings (Dollars in thousands)

 

 

 Weighted

Average

Number of

Shares

 

 

 Per Share

Amount

 

Basic earnings per share

 

$12,126

 

 

 

5,601,879

 

 

$2.16

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units

 

 

-

 

 

 

13,190

 

 

 

 

 

Shares held in deferred comp plan

 

 

 

 

 

 

158,039

 

 

 

 

 

Diluted earnings per share

 

$12,126

 

 

 

5,773,108

 

 

$2.10

 

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

 

 

 

5,634,964

 

 

$0.80

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units

 

 

-

 

 

 

15,299

 

 

 

 

 

Shares held in deferred comp plan

 

 

-

 

 

 

151,658

 

 

 

 

 

Diluted earnings per share

 

$4,509

 

 

 

5,801,921

 

 

$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

 

 

 

5,665,294

 

 

$1.67

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units

 

 

-

 

 

 

13,960

 

 

 

 

 

Shares held in deferred comp plan

 

 

-

 

 

 

149,163

 

 

 

 

 

Diluted earnings per share

 

$9,437

 

 

 

5,828,417

 

 

$1.62