EARNINGS PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2021

EARNINGS PER COMMON SHARE

Schedule of basic and diluted earnings per share

The table below presents the calculation of basic and diluted earnings per common share for the periods indicated (dollars in thousands, except share and per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Earnings per common share - Basic
Numerator:
Net income available for common shareholders	$	6,417	$	9,630	$	18,693	$	19,660
Denominator:
Basic weighted average shares		7,979,869		7,911,871		7,959,268		7,888,675
Earnings per common share - basic	$	0.80	$	1.22	$	2.35	$	2.49
Earnings per common share - Diluted
Numerator:
Net income available for common shareholders	$	6,417	$	9,630	$	18,693	$	19,660
Denominator:
Basic weighted average shares		7,979,869		7,911,871		7,959,268		7,888,675
Diluted effect of common stock equivalents:
Stock options		35,428		—		25,400		—
Time Vesting Units		144,479		85,897		126,231		44,310
Financial Performance Units		73,135		7,786		64,542		16,176
Market Performance Units		13,442		13,453		13,825		13,347
Total diluted effect of common stock equivalents		266,484		107,136		229,998		73,833
Diluted weighted average shares		8,246,353		8,019,007		8,189,266		7,962,508
Earnings per common share - diluted	$	0.78	$	1.20	$	2.28	$	2.47

Schedule of Antidilutive securities

	Three Months Ended September 30,		Nine Months Ended September 30,
	2021	2020	2021	2020
Stock options	139,639	419,197	186,462	419,197
Time Vesting Units	—	82,600	1,327	87,304
Financial Performance Units	40,745	116,051	30,216	70,769
Restricted Stock Awards	10,527	21,054	10,527	41,517
Total potentially dilutive securities	190,911	638,902	228,532	618,787