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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Summary of Reconciliation Between Basic and Diluted Earnings Per Share

The following represents a reconciliation between basic and diluted earnings per share:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

 

(dollars in thousands, except per share data)

 

Earnings per common share - basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

6,111

 

 

$

4,514

 

 

$

11,916

 

 

$

8,842

 

Less dividends and undistributed earnings allocated

   to participating securities

 

 

(60

)

 

 

(46

)

 

 

(121

)

 

 

(89

)

Net income applicable to common shareholders

 

$

6,051

 

 

$

4,468

 

 

$

11,795

 

 

$

8,753

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

4,060

 

 

 

4,034

 

 

 

4,057

 

 

 

4,025

 

Earnings per common share - basic

 

$

1.49

 

 

$

1.11

 

 

$

2.91

 

 

$

2.17

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share - diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

6,111

 

 

$

4,514

 

 

$

11,916

 

 

$

8,842

 

Less dividends and undistributed earnings allocated

   to participating securities

 

 

(60

)

 

 

(46

)

 

 

(121

)

 

 

(89

)

Net income applicable to common shareholders

 

$

6,051

 

 

$

4,468

 

 

$

11,795

 

 

$

8,753

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

4,060

 

 

 

4,034

 

 

 

4,057

 

 

 

4,025

 

Dilutive effect of common stock equivalents

 

 

34

 

 

 

34

 

 

 

31

 

 

 

36

 

Weighted average diluted common shares outstanding

 

 

4,094

 

 

 

4,068

 

 

 

4,088

 

 

 

4,061

 

Earnings per common share - diluted

 

$

1.48

 

 

$

1.10

 

 

$

2.89

 

 

$

2.16