Three months ended

September 30,

2020

2019

(dollars in thousands except per share data)

Net income

$ 9,986

$ 7,828

Less: distributed earnings allocated to participating securities

(4)

-

Less: undistributed earnings allocated to participating securities

(26)

-

Net income available to common shareholders

9,956

7,828

Weighted-average common shares outstanding, including participating securities

9,126,866

9,232,257

Less: weighted-average participating securities outstanding (restricted shares)

(27,260)

-

Weighted-average basic common shares outstanding

9,099,606

9,232,257

Add: effect of dilutive securities, stock options, and awards

2,191

11,891

Denominator for diluted earnings per share

$ 9,101,797

$ 9,244,148

Basic earnings per share available to common stockholders

$ 1.09

$ 0.85

Diluted earnings per share available to common stockholders

$ 1.09

$ 0.85