EARNINGS PER COMMON SHARE (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

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,
	2024		2023
Earnings per common share - Basic
Numerator:
Net income available for common shareholders	$	2,515	$	3,820
Denominator:
Basic weighted average shares	9,621,309		9,503,715
Earnings per common share - basic	$	0.26	$	0.40
Earnings per common share - Diluted
Numerator:
Net income available for common shareholders	$	2,515	$	3,820
Denominator:
Basic weighted average shares	9,621,309		9,503,715
Diluted effect of common stock equivalents:
Stock options	—		16,023
Time Vesting Units	27,435		125,228
Financial Performance Units	62,020		87,708
Total diluted effect of common stock equivalents	89,455		228,959
Diluted weighted average shares	9,710,764		9,732,674
Earnings per common share - diluted	$	0.26	$	0.39

Schedule of potentially dilutive securities

The following table presents potentially dilutive securities excluded from the diluted earnings per share calculation during the periods presented:

	Three Months Ended March 31,
	2024	2023
Stock options	127,436	82,970
Time Vesting Units	131,859	—
Financial Performance Units	9,090	—
Total potentially dilutive securities	268,385	82,970