EARNINGS PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2022

EARNINGS PER COMMON SHARE

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,
	2022		2021		2022		2021
Earnings per common share - Basic
Numerator:
Net income available for common shareholders	$	6,221	$	6,417	$	16,227	$	18,693
Denominator:
Basic weighted average shares		9,481,311		7,979,869		9,450,436		7,959,268
Earnings per common share - basic	$	0.66	$	0.80	$	1.72	$	2.35
Earnings per common share - Diluted
Numerator:
Net income available for common shareholders	$	6,221	$	6,417	$	16,227	$	18,693
Denominator:
Basic weighted average shares		9,481,311		7,979,869		9,450,436		7,959,268
Diluted effect of common stock equivalents:
Stock options		30,599		35,428		45,934		25,400
Time Vesting Units		80,757		144,479		130,795		126,231
Financial Performance Units		80,411		73,135		85,362		64,542
Market Performance Units		—		13,442		4,551		13,825
Total diluted effect of common stock equivalents		191,767		266,484		266,642		229,998
Diluted weighted average shares		9,673,078		8,246,353		9,717,078		8,189,266
Earnings per common share - diluted	$	0.64	$	0.78	$	1.67	$	2.28

Schedule of Antidilutive securities

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Stock options		—		139,639		—		186,462
Time Vesting Units		115,636		—		79,193		1,327
Financial Performance Units		94,210		40,745		31,403		30,216
Restricted Stock Awards		—		10,527		—		10,527
Total potentially dilutive securities		209,846		190,911		110,596		228,532