Earnings per Share

9 Months Ended

Sep. 30, 2022

Earnings per Share

Earnings per Share

NOTE 6 — Earnings per Share

The factors used in the earnings per share computation follow:

	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
	(Dollars in thousands, except per share data)
Basic
Net income	$	7,711	$	2,519	$	19,404	$	11,195
Weighted average shares outstanding		7,637,407		7,460,897		7,628,903		7,445,497
Basic earnings per share	$	1.01	$	0.34	$	2.54	$	1.50
Diluted
Net income	$	7,711	$	2,519	$	19,404	$	11,195
Weighted average shares outstanding for basic earnings per share		7,637,407		7,460,897		7,628,903		7,445,497
Add: Dilutive effects of share based awards		588,807		487,145		557,194		448,076
Average shares and dilutive potential shares		8,226,214		7,948,042		8,186,097		7,893,573
Diluted earnings per share	$	0.94	$	0.32	$	2.37	$	1.42

Share-based awards totaling 61,900 and 107,600 shares of common stock were not considered in computing diluted earnings per common share for the three months ended September 30, 2022 and September 30, 2021, respectively, because they were anti-dilutive. Share-based awards totaling 65,367 and 107,600 shares of common stock were not

considered in computing diluted earnings per common share for the nine months ended September 30, 2022 and September 30, 2021, respectively, because they were anti-dilutive.