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Earnings Per Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 6. EARNINGS PER SHARE

Earnings per share for the three and six months ended June 30, 2014 and 2013 were as follows:

 

     Three Months Ended      Six Months Ended  
     June 30,      June 30,  
(In thousands, except per share data)    2014      2013      2014      2013  

Net income

    $ 2,873       $ 3,408       $ 4,851       $ 4,968   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average shares outstanding (basic)

      8,110         8,091         8,109         8,088   

Impact of common stock equivalents

      0         0         0         0   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average shares outstanding (diluted)

      8,110         8,091         8,109         8,088   
  

 

 

     

 

 

     

 

 

     

 

 

  

Per share information:

            

Basic earnings per share

    $ 0.35       $ 0.42       $ 0.60       $ 0.61   

Diluted earnings per share

      0.35         0.42         0.60         0.61   

Stock options amounting to 196,000 and 242,000 shares of common stock were not considered in computing diluted earnings per share for the three months ended June 30, 2014 and 2013 as their exercise would have been antidilutive as the exercise price exceeded the average market value. Stock options amounting to 201,000 and 243,000 shares of common stock were not considered in computing diluted earnings per share for the six months ended June 30, 2014 and 2013 as their exercise would have been antidilutive as the exercise price exceeded the average market value.