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Earnings Per Share (Tables) | 6 Months Ended
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Jun. 30, 2020
Earnings Per Share [Abstract] |
Summary of earnings per share |
|  | Three Months Ended June 30, |
($ and outstanding shares in thousands - except per share data) |  | 2020 |  |  | 2019 |
Distributed earnings allocated to common shares |  | $ | 770 |  |  | $ | 586 |
Undistributed (in excess of) earnings allocated to common shares |  |  | 2,881 |  |  |  | 1,793 |
Net earnings allocated to common shares |  |  | 3,651 |  |  |  | 2,379 |
Net earnings allocated to participating securities |  |  | 4 |  |  |  | 5 |
Dividends on convertible preferred shares |  |  | - |  |  |  | 243 |
Net Income allocated to common shares and participating securities |  | $ | 3,655 |  |  | $ | 2,627 |
Weighted average shares outstanding for basic earnings per share |  |  | 7,708 |  |  |  | 6,454 |
Dilutive effect of stock compensation |  |  | - |  |  |  | 37 |
Dilutive effect of convertible shares |  |  | - |  |  |  | 1,476 |
Weighted average shares outstanding for diluted earnings per share |  |  | 7,708 |  |  |  | 7,967 |
Basic earnings per common share |  | $ | 0.47 |  |  | $ | 0.37 |
Diluted earnings per common share |  | $ | 0.47 |  |  | $ | 0.33 |
|  | Six Months Ended June 30, |
($ and outstanding shares in thousands - except per share data) |  | 2020 |  |  | 2019 |
Distributed earnings allocated to common shares |  | $ | 1,514 |  |  | $ | 1,142 |
Undistributed earnings allocated to common shares |  |  | 2,814 |  |  |  | 3,215 |
Net earnings allocated to common shares |  |  | 4,328 |  |  |  | 4,357 |
Net earnings allocated to participating securities |  |  | 8 |  |  |  | 9 |
Dividends on convertible preferred shares |  |  | - |  |  |  | 487 |
Net Income allocated to common shares and participating securities |  | $ | 4,336 |  |  | $ | 4,853 |
Weighted average shares outstanding for basic earnings per share |  |  | 7,750 |  |  |  | 6,469 |
Dilutive effect of stock compensation |  |  | - |  |  |  | 38 |
Dilutive effect of preferred convertible shares |  |  | - |  |  |  | 1,475 |
Weighted average shares outstanding for diluted earnings per share |  |  | 7,750 |  |  |  | 7,982 |
Basic earnings per common share |  | $ | 0.56 |  |  | $ | 0.68 |
Diluted earnings per common share |  | $ | 0.56 |  |  | $ | 0.61 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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