EARNINGS PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Earnings per common share - Basic
Numerator:
Net income available for common shareholders	$	2,134	$	3,118	$	5,725	$	8,444
Denominator:
Basic weighted average shares	9,663,131		9,553,331		9,643,998		9,529,996
Earnings per common share - basic	$	0.22	$	0.33	$	0.59	$	0.89
Earnings per common share - Diluted
Numerator:
Net income available for common shareholders	$	2,134	$	3,118	$	5,725	$	8,444
Denominator:
Basic weighted average shares	9,663,131		9,553,331		9,643,998		9,529,996
Diluted effect of common stock equivalents:
Stock options	—		—		—		5,341
Time Vesting Units	27,212		45,143		24,381		80,174
Financial Performance Units	76,313		144,796		74,387		105,452
Total diluted effect of common stock equivalents	103,525		189,939		98,768		190,967
Diluted weighted average shares	9,766,656		9,743,270		9,742,766		9,720,963
Earnings per common share - diluted	$	0.22	$	0.32	$	0.59	$	0.87

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 September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Stock options	81,761	149,725	99,378	134,307
Time Vesting Units	87,436	136,437	107,682	116,586
Financial Performance Units	—	9,090	3,030	6,060
Total potentially dilutive securities	169,197	295,252	210,090	256,953