OUTSTANDING SHARES AND EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2022

OUTSTANDING SHARES AND EARNINGS PER SHARE [Abstract]

Reconciliation of Basic and Diluted EPS

The following table presents a reconciliation of basic and diluted EPS for the three and six months ended June 30, 2022 and 2021 (dollars in thousands except per share amounts):

	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Basic earnings per share:
Net income	$	3,546	$	3,306	$	6,587	$	6,484
Weighted average common shares outstanding		13,717,677		14,175,321		13,699,438		14,162,176
Basic EPS	$	0.26	$	0.23	$	0.48	$	0.46
Diluted earnings per share:
Net income	$	3,546	$	3,306	$	6,587	$	6,484
Weighted average common shares outstanding		13,717,677		14,175,321		13,699,438		14,162,176
Effect of dilutive shares		147,294		185,636		160,843		173,179
Adjusted weighted average common shares outstanding		13,864,971		14,360,957		13,860,281		14,335,355
Diluted EPS	$	0.26	$	0.23	$	0.48	$	0.45