Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Computations of Earnings per Common Share

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

	Three Months Ended September 30,			Nine Months Ended  September 30,
	2023		2022	2023		2022
Net income	$	4,070	5,579	12,921		15,720
Less allocation of earnings and dividends to participating securities	29		28	92		81
Net income allocated to common shareholders	$	4,041	5,551	12,829		15,639
Weighted average common shares outstanding, gross	11,117,737		11,342,539	11,173,810		11,537,078
Less average participating securities	79,017		58,314	79,625		58,822
Adjusted weighted average number of shares outstanding used in the calculation of basic and diluted earnings per common share	11,038,720		11,284,225	11,094,185		11,478,256
Earnings per common share:
Basic	$	0.37	0.49	$	1.16	1.36
Diluted	0.37		0.49	1.16		1.36