Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share

The following table presents the reconciliation of the calculation of basic earnings per share for the years ended December 31, 2019 and 2018:



	2019		2018
	(Dollars in thousands, except per share data)
Net income	$	10,648	$	7,072
Weighted average common shares outstanding	4,468,336		4,465,675
Basic earnings per share	$	2.38	$	1.58

Basic earnings per share were computed by dividing net income by the weighted average number of shares outstanding during the year. There were incentive stock options with respect to 5,500 shares and 7,500 shares outstanding at December 31, 2019 and 2018, respectively, and unvested RSUs totaling 13,881and 6,043 at December 31, 2019 and 2018, respectively, excluded from the computation of diluted earnings per share since dilution resulting from these stock options and the vesting of RSUs is immaterial.