Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2021

Earnings per common share

Schedule of Earnings Per Share Calculation

The following schedule reconciles the numerators and denominators of the basic and diluted earnings per share computations for the three and six month periods ended June 30, 2021 and 2020. Dilutive common shares arise from the potentially dilutive effect of the Company’s stock options that were outstanding at June 30, 2021. The assumed conversion of stock options can create a difference between basic and dilutive net income per common share. At June 30, 2021 and 2020, there were 113,239 and 336,601 options, respectively, that were not considered in computing diluted earnings per common share because they were anti-dilutive.

	Three months ended			Six months ended
	June 30,			June 30,
(dollars in thousands, except share data)		2021	2020	2021	2020
Numerator:
Net income available to common shareholders	$	10,323	4,678	20,689	7,510
Denominator:
Weighted-average common shares outstanding – basic		7,847,516	7,722,419	7,811,217	7,700,508
Common stock equivalents		140,099	96,232	137,077	122,404
Weighted-average common shares outstanding – diluted		7,987,615	7,818,651	7,948,294	7,822,912
Earnings per common share:
Basic	$	1.32	0.61	2.65	0.98
Diluted	$	1.29	0.60	2.60	0.96