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Earnings Per Share

9 Months Ended

Sep. 30, 2020

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 2020 or 2019. The average number of common shares used in the computation of basic and diluted earnings per share are set forth in the tables below:

		Three Months Ended Sep. 30,
($ and outstanding shares in thousands - except per share data)		2020				2019
Distributed earnings allocated to common shares		$	764			$	581
Undistributed (in excess of) earnings allocated to common shares			4,482				2,944
Net earnings allocated to common shares			5,246				3,525
Net earnings allocated to participating securities			4				4
Dividends on convertible preferred shares			-				233
Net Income allocated to common shares and participating securities		$	5,250			$	3,762
Weighted average shares outstanding for basic earnings per share			7,607				6,397
Dilutive effect of stock compensation			-				34
Dilutive effect of convertible shares			-				1,445
Weighted average shares outstanding for diluted earnings per share			7,607				7,876
Basic earnings per common share		$	0.69			$	0.55
Diluted earnings per common share		$	0.69			$	0.48

		Nine Months Ended Sep. 30,
($ and outstanding shares in thousands - except per share data)		2020				2019
Distributed earnings allocated to common shares		$	2,278			$	1,723
Undistributed earnings allocated to common shares			7,296				6,159
Net earnings allocated to common shares			9,574				7,882
Net earnings allocated to participating securities			12				13
Dividends on convertible preferred shares			-				720
Net Income allocated to common shares and participating securities		$	9,586			$	8,615
Weighted average shares outstanding for basic earnings per share			7,700				6,459
Dilutive effect of stock compensation			-				36
Dilutive effect of preferred convertible shares			-				1,460
Weighted average shares outstanding for diluted earnings per share			7,700				7,955
Basic earnings per common share		$	1.25			$	1.22
Diluted earnings per common share		$	1.25			$	1.08

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- References

No definition available.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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