EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding. Diluted earnings per share reflect additional potential common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options.

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2021		2020		2021		2020
Basic Earnings Per Share:
Net Income	$	4,921	$	3,194	$	14,508	$	8,792
Weighted average common shares outstanding	8,354,860		7,666,336		7,861,780		7,666,336
Basic earnings per share	$	0.59	$	0.42	$	1.84	$	1.15
Diluted Earnings Per Share:
Net income allocated to common shareholders	$	4,914	$	3,187	$	14,487	$	8,779
Weighted average common shares outstanding	8,354,860		7,666,336		7,861,780		7,666,336
Net dilutive effect of:
Assumed exercises of stock options	112,600		101,640		118,379		95,359
Average shares and dilutive potential common shares	8,467,460		7,767,976		7,980,159		7,761,695
Dilutive earnings per share	$	0.58	$	0.41	$	1.82	$	1.13