EARNINGS PER COMMON SHARE (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of basic and diluted earnings per share

The following presents the calculation of basic and diluted earnings per common share during the periods presented (dollars in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2023		2022
Earnings per common share - Basic
Numerator:
Net income available for common shareholders	$	3,820	$	5,524

Denominator:
Basic weighted average shares	9,503,715		9,418,318
Earnings per common share - basic	$	0.40	$	0.59

Earnings per common share - Diluted
Numerator:
Net income available for common shareholders	$	3,820	$	5,524

Denominator:
Basic weighted average shares	9,503,715		9,418,318
Diluted effect of common stock equivalents:
Stock options	16,023		57,139
Time Vesting Units	125,228		189,538
Financial Performance Units	87,708		83,954
Market Performance Units	—		13,653
Total diluted effect of common stock equivalents	228,959		344,284
Diluted weighted average shares	9,732,674		9,762,602
Earnings per common share - diluted	$	0.39	$	0.57