Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2016

The computation of basic and diluted earnings per share is shown below (in thousands except per share data):


	Three months ended						Nine months ended
	September 30,						September 30,
	2016			2015			2016			2015
Basic earnings per common share computation:
Net income per consolidated statements of income	$	6,416		$	5,522		$	15,500		$	16,689
Net earnings allocated to participating securities		(40	)		(30	)		(101	)		(92	)

Net earnings allocated to common stock	$	6,376		$	5,492		$	15,399		$	16,597

Distributed earnings allocated to common stock	$	2,370		$	2,363		$	7,107		$	7,095
Undistributed earnings allocated to common stock		4,006			3,129			8,292			9,502

Net earnings allocated to common stock	$	6,376		$	5,492		$	15,399		$	16,597

Weighted average common shares outstanding, including shares considered participating securities		14,464			14,406			14,453			14,408
Less: Average participating securities		(82	)		(71	)		(85	)		(72	)

Weighted average shares		14,382			14,335			14,368			14,336

Basic earnings per common share	$	0.44		$	0.38		$	1.07		$	1.16

Diluted earnings per common share computation:
Net earnings allocated to common stock	$	6,376		$	5,492		$	15,399		$	16,597

Weighted average shares and dilutive potential common shares		14,382			14,335			14,368			14,336

Diluted earnings per common share	$	0.44		$	0.38		$	1.07		$	1.16