Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2020

The following table shows the computation of basic and diluted earnings per share:

	For the three months ended				For the six months ended
	June 30,				June 30,
	2020		2019		2020		2019
(Dollars in thousands, except per share amounts)
Numerator
Net income	$	5,036	$	5,126	$	10,087	$	10,242

Denominator
Weighted-average shares outstanding for basic earnings per share		9,232,509		10,187,500		9,598,232		10,187,500
Dilutive effect of stock compensation ⁽¹⁾		-		5,149		-		-
Denominator for diluted earnings per share		9,232,509		10,192,649		9,598,232		10,187,500

Earnings per common share
Basic	$	0.54	$	0.50	$	1.05	$	1.00
Diluted	$	0.54	$	0.50	$	1.05	$	1.00

(1) Nonqualified stock options outstanding of 186,500 and 163,000, and restricted stock units of 130,000 and 130,000 as of June 30, 2020 and 2019, respectively, have not been included in diluted earnings per share for the six months ended June 30, 2020 and 2019, and nonqualified stock options of 186,500 as of June 30, 2020, and restricted stock units of 130,000 and 130,000 as of June 30, 2020 and 2019, respectively, have not been included in diluted earnings per share for the three months ended June 30, 2020 and 2019 because to do so would have been antidilutive for the periods presented.