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Earnings Per Share

9 Months Ended

Sep. 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. Participating securities in the table reflect dividends on unvested restricted shares. 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)		2021				2020
Distributed earnings allocated to common shares		$	771			$	764
Undistributed (in excess of) earnings allocated to common shares			3,327				4,482
Net earnings allocated to common shares			4,098				5,246
Net earnings allocated to participating securities			5				4
Net Income allocated to common shares and participating securities		$	4,103			$	5,250
Weighted average shares outstanding for basic earnings per share			6,966				7,607
Dilutive effect of stock compensation			51				-
Weighted average shares outstanding for diluted earnings per share			7,017				7,607
Basic earnings per common share		$	0.59			$	0.69
Diluted earnings per common share		$	0.58			$	0.69

		Nine Months Ended Sep. 30,
($ and outstanding shares in thousands - except per share data)		2021				2020
Distributed earnings allocated to common shares		$	2,340			$	2,278
Undistributed earnings allocated to common shares			12,589				7,296
Net earnings allocated to common shares			14,929				9,574
Net earnings allocated to participating securities			16				12
Net Income allocated to common shares and participating securities		$	14,945			$	9,586
Weighted average shares outstanding for basic earnings per share			7,142				7,700
Dilutive effect of stock compensation			25				-
Weighted average shares outstanding for diluted earnings per share			7,167				7,700
Basic earnings per common share		$	2.09			$	1.25
Diluted earnings per common share		$	2.08			$	1.25

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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=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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