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Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Summary of earnings per share
  Three Months Ended
Sep. 30,
 
($ and outstanding shares in thousands - except per share data)  2019   2018 
         
Distributed earnings allocated to common shares  $581   $524 
Undistributed earnings allocated to common shares   2,944    2,346 
           
Net earnings allocated to common shares   3,525    2,870 
Net earnings allocated to participating securities   4    4 
Dividends on convertible preferred shares   233    244 
           
Net Income allocated to common shares and participating securities  $3,762   $3,118 
           
Weighted average shares outstanding for basic earnings per share   6,397    6,503 
Dilutive effect of stock compensation   34    58 
Dilutive effect of convertible shares   1,445    1,461 
           
Weighted average shares outstanding for diluted earnings per share   7,876    8,022 
           
Basic earnings per common share  $0.55   $0.45 
           
Diluted earnings per common share  $0.48   $0.39 

 

   Nine Months Ended
Sep. 30,
 
($ and outstanding shares in thousands - except per share data)  2019   2018 
         
Distributed earnings allocated to common shares  $1,723   $1,532 
Undistributed earnings allocated to common shares   6,159    6,404 
           
Net earnings allocated to common shares   7,882    7,936 
Net earnings allocated to participating securities   13    11 
Dividends on convertible preferred shares   720    732 
           
Net Income allocated to common shares and participating securities  $8,615   $8,679 
           
Weighted average shares outstanding for basic earnings per share   6,459    6,106 
Dilutive effect of stock compensation   36    63 
Dilutive effect of convertible shares   1,460    1,457 
           
Weighted average shares outstanding for diluted earnings per share   7,955    7,626 
           
Basic earnings per common share  $1.22   $1.30 
           
Diluted earnings per common share  $1.08   $1.14