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Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2020
Earnings Per Share  
Summary of diluted earnings per share

 

 

 

 

 

 

 

 

 

    

Three Months Ended March 31, 

(Dollars in thousands, except per share data)

    

2020

    

2019

Net income

 

$

2,422

 

$

1,398

Net (income) attributable to noncontrolling interest

 

 

(16)

 

 

 —

Net income applicable to basic earnings per common share

 

 

2,406

 

 

1,398

Weighted average shares outstanding

 

 

17,806

 

 

9,985

Basic earnings per share

 

$

0.135

 

$

0.140

Effect of dilutive securities:

 

 

  

 

 

  

Weighted average shares outstanding under options the Company Plan (1)

 

 

 —

 

 

18

Weighted average exercise price per share

 

$

 —

 

$

9.05

Assumed proceeds on exercise

 

$

 —

 

$

167

Average market value per share

 

$

 —

 

$

7.16

Weighted average shares outstanding under options the Liberty Plan

 

 

 9

 

 

12

Weighted average exercise price per share

 

$

4.22

 

$

3.98

Assumed proceeds on exercise

 

$

38

 

$

46

Average market value per share

 

$

7.22

 

$

7.16

Less: Treasury stock purchased with assumed proceeds from exercise

 

 

 5

 

 

 6

Weighted average shares outstanding under options the Partners Stock Plans

 

 

236

 

 

 —

 Weighted average exercise price per share

 

$

5.83

 

$

 —

 Assumed proceeds on exercise

 

$

1,374

 

$

 —

 Average market value per share

 

$

7.22

 

$

 —

 Less:  Treasury stock purchased with assumed proceeds from exercise

 

 

190

 

 

 —

Weighted average shares outstanding under restricted stock plans (2)

 

 

 6

 

 

 9

Diluted weighted average shares and common stock equivalents

 

 

17,862

 

 

10,000

Diluted earnings per share

 

$

0.135

 

$

0.140

(1)

Options were excluded from the calculation of dilutive earnings per share because they are anti‑dilutive.

Includes vested shares not yet issued and nonvested shares as of March 30.