Basic and Diluted Earnings Per Share

9 Months Ended

Sep. 30, 2020

Basic and Diluted Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Share Text Block

NOTE 2: BASIC AND DILUTED NET EARNINGS PER SHARE

Basic net earnings per share is computed by dividing net earnings by the weighted average common shares outstanding for the respective period. Diluted net earnings per share reflect the potential dilution that could occur upon exercise of securities or other rights for, or convertible into, shares of the Company’s common stock. At September 30, 2020 and 2019, respectively, the Company had no such securities or rights issued or outstanding, and therefore, no dilutive effect to consider for the diluted net earnings per share calculation.

The basic and diluted net earnings per share computations for the respective periods are presented below.

				Quarter ended September 30,				Nine months ended September 30,
(Dollars in thousands, except share and per share data)				2020		2019		2020		2019
Basic and diluted:
	Net earnings		$	1,936	$	2,207	$	5,398	$	7,057
	Weighted average common shares outstanding			3,566,239		3,568,287		3,566,184		3,586,642
		Net earnings per share	$	0.54	$	0.62	$	1.51	$	1.97