Twelve Months Ended Dec. 31,

($ and outstanding shares in thousands - except per share data)

2019

2018

Distributed earnings allocated to common shares

$

2,331

$

2,090

Undistributed earnings allocated to common shares

8,675

8,558

Net earnings allocated to common shares

11,006

10,648

Net earnings allocated to participating securities

17

15

Dividends on convertible preferred shares

950

975

Net Income allocated to common shares and participating securities

$

11,973

$

11,638

Weighted average shares outstanding for basic earnings per share

6,456

6,198

Dilutive effect of stock compensation

46

61

Dilutive effect of preferred convertible shares

1,433

1,460

Weighted average shares outstanding for diluted earnings per share

7,935

7,719

Basic earnings per common share

$

1.71

$

1.72

Diluted earnings per common share

$

1.51

$

1.51