Earnings per Share

6 Months Ended

Jun. 30, 2021

Note 3 – Earnings per Share

The following table sets forth the computation of earnings per share.

	Three months ended				Six months ended
	June 30,				June 30,
	2021		2020		2021		2020
Net income applicable to common stock	$	6,647	$	5,338	$	15,110	$	9,869

Basic earnings per share computation
Weighted average common shares outstanding		3,944,488		3,883,734		3,946,184		3,737,759
Earnings per share - basic	$	1.69	$	1.37	$	3.83	$	2.64

Diluted earnings per share computation
Weighted average common shares outstanding for basic earnings per share		3,944,488		3,883,734		3,946,184		3,737,759
Add: Dilutive effects of restricted stock		72		1,029		35		514
Weighted average common shares outstanding for dilutive earnings per share		3,944,560		3,884,763		3,946,219		3,738,273
Earnings per share - diluted	$	1.69	$	1.37	$	3.83	$	2.64

For the three months ended June 30, 2021 and 2020, there were 2,479 and 6,304 shares, respectively, related to the restricted stock plan that were excluded from the diluted earnings per share calculations since they were anti-dilutive. These anti-dilutive shares had per share prices ranging from $51.14-$62.33 for the three month period ended June 30, 2021 and per share prices ranging from $59.24-$62.93 for the three month period ended June 30, 2020. For the six months ended June 30, 2021 and 2020, 2,401 and 6,304 shares, respectively, related to the restricted stock plan were excluded from the diluted earnings per share calculations since they were anti-dilutive. These anti-dilutive shares had prices ranging from $51.14-$62.33 for the six month period ended June 30, 2021 and prices ranging from $59.24-$62.93 for the six month period ended June 30, 2020.