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Earnings Per Share | 9 Months Ended
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Sep. 30, 2018
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | NOTE 2 – EARNINGS PER SHARE Earnings per share (EPS) have been computed based on the weighted average number of common shares outstanding during the periods presented. There were no anti-dilutive shares in 2018 or 2017. Included in the diluted EPS for September 30, 2018 is the impact of the full conversion of the Company’s depository shares. Based upon the current conversion price of $10.2059, the 1,499,500 outstanding depository shares are convertible into an aggregate of 1,469,247 common shares. The average number of common shares used in the computation of basic and diluted earnings per share were:
|  | Three Months Ended September 30, |
($ and outstanding shares in thousands - except per share data) |  | 2018 |  |  | 2017 |
Distributed earnings allocated to common shares |  | $ | 524 |  |  | $ | 340 |
Undistributed earnings allocated to common shares |  |  | 2,346 |  |  |  | 2,136 |
Net earnings allocated to common shares |  |  | 2,870 |  |  |  | 2,476 |
Net earnings allocated to participating securities |  |  | 4 |  |  |  | 3 |
Dividends on convertible preferred shares |  |  | 244 |  |  |  | 244 |
Net Income allocated to common shares and participating securities |  | $ | 3,118 |  |  | $ | 2,723 |
Weighted average shares outstanding for basic earnings per share |  |  | 6,503 |  |  |  | 4,797 |
Dilutive effect of stock compensation |  |  | 58 |  |  |  | 70 |
Dilutive effect of convertible shares |  |  | 1,461 |  |  |  | 1,459 |
Weighted average shares outstanding for diluted earnings per share |  |  | 8,022 |  |  |  | 6,326 |
Basic earnings per common share |  | $ | 0.45 |  |  | $ | 0.52 |
Diluted earnings per common share |  | $ | 0.39 |  |  | $ | 0.43 |
|  | Nine Months Ended September 30, |
($ and outstanding shares in thousands - except per share data) |  | 2018 |  |  | 2017 |
Distributed earnings allocated to common shares |  | $ | 1,532 |  |  | $ | 999 |
Undistributed earnings allocated to common shares |  |  | 6,404 |  |  |  | 5,294 |
Net earnings allocated to common shares |  |  | 7,936 |  |  |  | 6,293 |
Net earnings allocated to participating securities |  |  | 11 |  |  |  | 9 |
Dividends on convertible preferred shares |  |  | 732 |  |  |  | 731 |
Net Income allocated to common shares and participating securities |  | $ | 8,679 |  |  | $ | 7,033 |
Weighted average shares outstanding for basic earnings per share |  |  | 6,106 |  |  |  | 4,825 |
Dilutive effect of stock compensation |  |  | 63 |  |  |  | 73 |
Dilutive effect of convertible shares |  |  | 1,457 |  |  |  | 1,458 |
Weighted average shares outstanding for diluted earnings per share |  |  | 7,626 |  |  |  | 6,356 |
Basic earnings per common share |  | $ | 1.30 |  |  | $ | 1.31 |
Diluted earnings per common share |  | $ | 1.14 |  |  | $ | 1.11 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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