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Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Calculation of Basic Earnings Per Share

 

 

(in thousands of dollars)

 

 

 

Three Months Ended

 

 

 

March 31, 2019

 

 

March 31, 2018

 

Earnings per share

 

 

 

 

 

 

 

 

Net income

 

$

3,224

 

 

$

3,767

 

Less: distributed earnings allocated to participating

   securities

 

 

(12

)

 

 

(12

)

Less: undistributed earnings allocated to participating

   securities

 

 

(12

)

 

 

(26

)

Net earnings available to common shareholders

 

$

3,200

 

 

$

3,729

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding including

   participating securities

 

 

11,089,839

 

 

 

9,265,959

 

Less: average unvested restricted shares

 

 

(83,417

)

 

 

(92,429

)

Weighted average common shares outstanding

 

 

11,006,422

 

 

 

9,173,530

 

Basic earnings and diluted per share

 

$

0.29

 

 

$

0.41