XML 31 R21.htm IDEA: XBRL DOCUMENT v3.10.0.1
Earnings per Common Share
 6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Earnings per Common Share

(12)

Earnings per Common Share

Earnings per share are computed by dividing net income by the weighted average number of common shares outstanding during each of the years presented.  The following data show the amounts used in computing basic earnings per common share.

The computations of basic earnings per common share follow:

 

(Dollars in thousands, except per share data)

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2018

 

 

 

2017

 

 

2018

 

 

 

2017

 

Net income

$

2,779

 

 

$

2,345

 

 

$

$

3,783

 

 

$

4,339

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

6,122,757

 

 

 

4,234,291

 

 

 

 

6,049,261

 

 

 

4,234,525

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted earnings per common share

$

0.45

 

 

$

0.55

 

 

$

$

0.63

 

 

$

1.02

 

 

The increase in the weighted average shares outstanding at June 30, 2018 was impacted by the issuance of 1,878,827 shares of Mid Penn common stock on January 8, 2018 in connection with the Scottdale acquisition.  Mid Penn had no dilutive instruments outstanding during the periods ended June 30, 2018 and 2017.