Earnings Per Share

12 Months Ended

Dec. 31, 2022

The following table presents a reconciliation of the components used to compute basic and diluted EPS for the periods indicated.


	Year Ended December 31,
	2022		2021
	(Dollars in thousands, except share data)
Net income	$	13,240	$	12,249
Earnings allocated to participating securities	(44)		(58)
Earnings allocated to common shareholders	$	13,196	$	12,191

Basic weighted-average common shares outstanding	9,006,369		9,340,997
Dilutive effect of stock options	81,480		95,584
Dilutive effect of restricted stock grants	14,434		17,914
Diluted weighted-average common shares outstanding	9,102,283		9,454,495

Basic earnings per share	$	1.47	$	1.31
Diluted earnings per share	$	1.45	$	1.29

Potential dilutive shares are excluded from the computation of EPS if their effect is anti-dilutive. For the years ended December 31, 2022 and 2021 there were no options to purchase shares of common stock that were omitted from the computation of diluted earnings per share because their effect would be anti-dilutive.