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