Earnings per Common Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings per Common Share

Schedule of computation of earnings per share

The following table summarizes the computation of earnings per share for the three months March 31, 2022 and March 31, 2021.

	Three months ended
	March 31,
	2022		2021
Earnings per common share - basic:
Income available to common shareholders (in thousands):
Net income	$	7,674	$	5,074
Less: Income attributable to unvested restricted stock awards		(36)		(26)
Net income available to common shareholders	$	7,638	$	5,048
Weighted average shares outstanding:
Common shares outstanding, including unvested restricted stock		13,847,560		13,627,621
Less: Unvested restricted stock		(64,526)		(69,842)
Weighted-average common shares outstanding - basic		13,783,034		13,557,779
Earnings per common share - basic	$	0.55	$	0.37
Earnings per common share - diluted:
Income available to common shareholders (in thousands):
Net income	$	7,674	$	5,074
Less: Income attributable to unvested restricted stock awards		(36)		(26)
Net income available to common shareholders	$	7,638	$	5,048
Weighted average shares outstanding:
Common shares outstanding, including unvested restricted stock		13,847,560		13,627,621
Less: Unvested restricted stock		(64,526)		(69,842)
Plus: Effect of dilutive options		208,658		251,972
Weighted-average common shares outstanding - diluted		13,991,692		13,809,751
Earnings per common share - diluted	$	0.55	$	0.37