XML 20 R11.htm IDEA: XBRL DOCUMENT v3.22.2
Earnings Per Share
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share

Note 3 – Earnings Per Share

Basic earnings per common share are computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share are computed by dividing net income by the effect of the issuance of potential common shares that are dilutive and by the sum of the weighted-average number of shares of common stock outstanding. All shares owned by the Company’s 401(k) Employee Stock Ownership Plan (ESOP) are included in the earnings per share calculations.

The reconciliation of the components of the basic and diluted earnings per share is as follows (amounts in thousands):

 

 

 

For the Three Months

 

 

For the Six Months

 

 

 

Ended June 30,

 

 

Ended June 30,

 

 

 

2022

 

 

 

2021

 

 

2022

 

 

 

2021

 

Net earnings available to common shareholders

 

$

7,508

 

 

$

6,028

 

 

$

15,262

 

 

$

12,815

 

Weighted average common shares outstanding

 

 

6,631,472

 

 

 

6,531,352

 

 

 

6,628,484

 

 

 

6,525,581

 

Dilutive effect of stock options

 

 

107,901

 

 

 

77,364

 

 

 

99,890

 

 

 

71,437

 

Diluted common shares

 

 

6,739,373

 

 

 

6,608,716

 

 

 

6,728,374

 

 

 

6,597,018

 

Basic earnings per common share

 

$

1.13

 

 

$

0.92

 

 

$

2.30

 

 

$

1.96

 

Diluted earnings per common share

 

$

1.11

 

 

$

0.91

 

 

$

2.27

 

 

$

1.94