Twelve Months Ended Dec. 31,

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

2020

2019

Distributed earnings allocated to common shares

$

3,070

$

2,331

Undistributed (in excess of) earnings allocated to common shares

11,858

8,675

Net earnings allocated to common shares

14,928

11,006

Net earnings allocated to participating securities

16

17

Dividends on convertible preferred shares

-

950

Net Income allocated to common shares and participating securities

$

14,944

$

11,973

Weighted average shares outstanding for basic earnings per share

7,613

6,456

Dilutive effect of stock compensation

22

46

Dilutive effect of convertible shares

-

1,433

Weighted average shares outstanding for diluted earnings per share

7,635

7,935

Basic earnings per common share

$

1.96

$

1.71

Diluted earnings per common share

$

1.96

$

1.51