| Schedule of computation of earnings per share |
The following table summarizes the computation of earnings per share for the three and six months ended June 30, 2025 and June 30, 2024. | | | | | | | | | | | | | | | | Three months ended | | Six months ended | | | | June 30, | | June 30, | | | | 2025 | | 2024 | | 2025 | | 2024 | | Earnings per common share - basic: | | | | | | | | | | | | | | Income available to common shareholders (in thousands): | | | | | | | | | | | | | | Net income | | $ | 5,103 | | $ | 3,905 | | $ | 9,913 | | $ | 8,109 | | Less: Income attributable to unvested restricted stock awards | | | (18) | | | (13) | | | (36) | | | (26) | | Net income available to common shareholders | | $ | 5,085 | | $ | 3,892 | | $ | 9,877 | | $ | 8,083 | | | | | | | | | | | | | | | | Weighted average shares outstanding: | | | | | | | | | | | | | | Common shares outstanding, including unvested restricted stock | | | 14,271,749 | | | 14,219,305 | | | 14,273,683 | | | 14,197,937 | | Less: Unvested restricted stock | | | (50,152) | | | (46,060) | | | (51,372) | | | (45,822) | | Weighted-average common shares outstanding - basic | | | 14,221,597 | | | 14,173,245 | | | 14,222,311 | | | 14,152,115 | | | | | | | | | | | | | | | | Earnings per common share - basic | | $ | 0.36 | | $ | 0.27 | | $ | 0.69 | | $ | 0.57 | | | | | | | | | | | | | | | | Earnings per common share - diluted: | | | | | | | | | | | | | | Income available to common shareholders (in thousands): | | | | | | | | | | | | | | Net income | | $ | 5,103 | | $ | 3,905 | | $ | 9,913 | | $ | 8,109 | | Less: Income attributable to unvested restricted stock awards | | | (18) | | | (13) | | | (36) | | | (26) | | Net income available to common shareholders | | $ | 5,085 | | $ | 3,892 | | $ | 9,877 | | $ | 8,083 | | | | | | | | | | | | | | | | Weighted average shares outstanding: | | | | | | | | | | | | | | Common shares outstanding, including unvested restricted stock | | | 14,271,749 | | | 14,219,305 | | | 14,273,683 | | | 14,197,937 | | Less: Unvested restricted stock | | | (50,152) | | | (46,060) | | | (51,372) | | | (45,822) | | Plus: Effect of dilutive options | | | 1,821 | | | 26,926 | | | 8,831 | | | 37,402 | | Weighted-average common shares outstanding - diluted | | | 14,223,418 | | | 14,200,171 | | | 14,231,142 | | | 14,189,517 | | | | | | | | | | | | | | | | Earnings per common share - diluted | | $ | 0.36 | | $ | 0.27 | | $ | 0.69 | | $ | 0.57 | |
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