Earnings Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share

Earnings Per Share

9. EARNINGS PER SHARE

Earnings per share are calculated as follows (in thousands, except earnings per share):

	December 31,
	2021		2020
Basic earnings per share
Income available to common shareholder	$	7,570	$	2,665
Weighted average shares outstanding		5,205		5,185
Basic earnings per share	$	1.45	$	0.51
Diluted earnings per share
Income available to common shareholder	$	7,570	$	2,665
Weighted average shares outstanding		5,205		5,185
Dilutive effect of restricted stock		27		2
Total weighted average shares outstanding		5,232		5,187
Diluted earnings per share	$	1.45	$	0.51

There was no restricted stock excluded from the diluted earnings per share calculation for the years ended December 31, 2021 and December 31, 2020.