Outstanding Shares and Earnings Per Share

12 Months Ended

Dec. 31, 2021

Outstanding Shares and Earnings Per Share [Abstract]

Outstanding Shares and Earnings Per Share

(14) Outstanding Shares and Earnings Per Share

All income per share amounts have been adjusted to give retroactive effect to stock dividends and stock splits, including the 5% stock dividend declared on January 27, 2022, payable on March 25, 2022, to shareholders of record as of February 28, 2022.

Earnings Per Share

Basic and diluted earnings per share for the years ended December 31, were computed as follows:

	2021		2020
Basic earnings per share:
Net income	$	14,186	$	12,161
Weighted average common shares outstanding		14,052,446		14,114,262
Basic earnings per share	$	1.01	$	0.86
Diluted earnings per share:
Net income	$	14,186	$	12,161
Weighted average common shares outstanding		14,052,446		14,114,262
Effect of dilutive shares		178,843		126,084
Adjusted weighted average common shares outstanding		14,231,289		14,240,346
Diluted earnings per share	$	1.00	$	0.85

Options not included in the computation of diluted earnings per share because they would have had an anti-dilutive effect amounted to 294,526 shares and 445,700 shares for the years ended December 31, 2021 and 2020, respectively.  Restricted stock not included in the computation of diluted earnings per share because they would have had an anti-dilutive effect amounted to 10,439 shares and 46,052 shares for the years ended December 31, 2021 and 2020, respectively.