Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Computations of Earnings per Common Share

Earnings per share for the three and six months ended June 30, 2022 and 2021 were calculated as follows (dollars in thousands, except share and per share data):

	Three Months Ended June 30,			Six Months Ended  June 30,
	2022		2021	2022	2021
Net income	$	5,618	5,290	10,141	10,530
Less allocation of earnings and dividends to participating securities	29		19	53	38
Net income allocated to common shareholders	$	5,589	5,271	10,088	10,492
Weighted average common shares outstanding, gross	11,396,119		12,789,684	11,635,949	12,815,089
Less average participating securities	58,314		45,958	59,076	45,958
Weighted average number of shares outstanding used in the calculation of basic earnings per common share	11,337,805		12,743,726	11,576,873	12,769,131
Add dilutive effect of:
Stock options	—		—	—	15
Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share	11,337,805		12,743,726	11,576,873	12,769,146
Earnings per common share:
Basic	$	0.49	0.41	0.87	0.82
Diluted	0.49		0.41	0.87	0.82