EARNINGS PER SHARE (“EPS”)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share ("EPS")

EARNINGS PER SHARE (“EPS”)Basic earnings per common share represent income available to common shareholders, divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued. There were no outstanding stock options at March 31, 2020 for the Company to apply the treasury method to account for potential common shares that may have been issued.

Basic and diluted earnings per share have been computed based on weighted-average common and common equivalent shares outstanding as follows:

(dollars in thousands, except per share amounts)	Three Months Ended March 31,
	2020		2019
Net Income	$	2,748	$	3,877
Average number of common shares outstanding	5,886,981		5,558,137
Dilutive effect of common stock equivalents	—		—
Average number of shares used to calculate diluted EPS	5,886,981		5,558,137
Earnings Per Common Share
Basic	$	0.47	$	0.70
Diluted	$	0.47	$	0.70