OUTSTANDING SHARES AND EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2022 and 2021 (dollars in thousands except per share amounts):

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Basic earnings per share:
Net income	$	4,568	$	4,509	$	11,155	$	10,993
Weighted average common shares outstanding		13,713,657		14,018,259		13,704,178		14,115,162
Basic EPS	$	0.33	$	0.32	$	0.81	$	0.78
Diluted earnings per share:
Net income	$	4,568	$	4,509	$	11,155	$	10,993
Weighted average common shares outstanding		13,713,657		14,018,259		13,704,178		14,115,162
Effect of dilutive shares		143,497		188,615		154,998		178,363
Adjusted weighted average common shares outstanding		13,857,154		14,206,874		13,859,176		14,293,525
Diluted EPS	$	0.33	$	0.32	$	0.80	$	0.77