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Earnings Per Share

6 Months Ended

Jun. 30, 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 Jun. 30,
($ and outstanding shares in thousands - except per share data)		2021				2020
Distributed earnings allocated to common shares		$	793			$	770
Undistributed (in excess of) earnings allocated to common shares			2,962				2,881
Net earnings allocated to common shares			3,755				3,651
Net earnings allocated to participating securities			6				4
Net Income allocated to common shares and participating securities		$	3,761			$	3,655
Weighted average shares outstanding for basic earnings per share			7,148				7,708
Dilutive effect of stock compensation			52				-
Weighted average shares outstanding for diluted earnings per share			7,200				7,708
Basic earnings per common share		$	0.53			$	0.47
Diluted earnings per common share		$	0.52			$	0.47

		Six Months Ended Jun. 30,
($ and outstanding shares in thousands - except per share data)		2021				2020
Distributed earnings allocated to common shares		$	1,569			$	1,514
Undistributed earnings allocated to common shares			9,262				2,814
Net earnings allocated to common shares			10,831				4,328
Net earnings allocated to participating securities			11				8
Net Income allocated to common shares and participating securities		$	10,842			$	4,336
Weighted average shares outstanding for basic earnings per share			7,232				7,750
Dilutive effect of stock compensation			24				-
Weighted average shares outstanding for diluted earnings per share			7,256				7,750
Basic earnings per common share		$	1.50			$	0.56
Diluted earnings per common share		$	1.49			$	0.56

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- References

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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=124432515&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=124432515&loc=d3e3630-109257

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