Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2023

Computations of Earnings per Common Share

Earnings per share for the three and six months ended June 30, 2023 and 2022 were calculated as follows (dollars in thousands, except share and per share data):


	Three Months Ended June 30,			Six Months Ended June 30,
	2023		2022	2023		2022
Net income	$	4,694	5,618	8,851		10,141
Less allocation of earnings and dividends to participating securities	33		29	63		53
Net income allocated to common shareholders	$	4,661	5,589	8,788		10,088

Weighted average common shares outstanding, gross	11,135,325		11,396,119	11,202,300		11,635,949
Less average participating securities	79,017		58,314	79,929		59,076
Adjusted weighted average number of shares outstanding used in the calculation of basic and diluted earnings per common share	11,056,308		11,337,805	11,122,371		11,576,873

Earnings per common share:
Basic	$	0.42	0.49	$	0.79	0.87
Diluted	0.42		0.49	0.79		0.87