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Earnings Per Share
3 Months Ended
Mar. 31, 2021
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 2021 or 2020. 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
Mar. 31,
 
($ and outstanding shares in thousands - except per share data)  2021   2020 
         
Distributed earnings allocated to common shares  $776   $744 
Undistributed (in excess of) earnings allocated to common shares   6,299    (67)
           
Net earnings allocated to common shares   7,075    677 
Net earnings allocated to participating securities   6    4 
           
Net Income allocated to common shares and participating securities  $7,081   $681 
           
Weighted average shares outstanding for basic earnings per share   7,317    7,749 
Dilutive effect of stock compensation   18    7 
           
Weighted average shares outstanding for diluted earnings per share   7,335    7,756 
           
Basic earnings per common share  $0.97   $0.09 
           
Diluted earnings per common share  $0.97   $0.09