Earnings Per Share

6 Months Ended

Jun. 30, 2020

Calculation of Earnings Per Share [Abstract]

Calculation of Earnings Per Share

4. EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. Potential common shares that may be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method.

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

(Dollars in thousands, except earnings per share data)	Three Months Ended June 30,
	2020		2019
Net income	$	1,605	$	1,845
Weighted-average common shares outstanding		5,091		5,102
Basic earnings per share	$	0.32	$	0.36
Weighted-average common shares outstanding		5,091		5,102
Common stock equivalents due to effect of stock options		5		20
Total weighted-average common shares and equivalents		5,096		5,122
Diluted earnings per share	$	0.31	$	0.36

(Dollars in thousands, except earnings per share)	Six Months Ended June 30,
	2020		2019
Net income	$	2,643	$	3,258
Weighted-average common shares outstanding		5,097		5,098
Basic earnings per share	$	0.52	$	0.64
Weighted-average common shares outstanding		5,097		5,098
Common stock equivalents due to effect of stock options		6		21
Total weighted-average common shares and equivalents	$	5,103	$	5,119
Diluted earnings per share	$	0.52	$	0.64
Anti-dilutive stock options outstanding		3		—