EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2016

Earnings per share for the three and nine months ended September 30, 2016 and 2015 were as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands, except per share data)	2016		2015		2016		2015

Net income	$	1,442	$	2,461	$	4,700	$	6,425
Weighted average shares outstanding (basic)	8,056		8,119		8,060		8,115
Impact of common stock equivalents	93		38		82		28
Weighted average shares outstanding (diluted)	8,149		8,157		8,142		8,143
Per share information:
Basic earnings per share	$	0.18	$	0.30	$	0.58	$	0.79
Diluted earnings per share	0.18		0.30		0.58		0.79

Stock options amounting to 81,000 and 102,000 shares of common stock were not considered in computing diluted earnings per share for the three months ended September 30, 2016 and 2015 as their exercise would have been antidilutive as the exercise price exceeded the average market value. Stock options amounting to 93,000 and 112,000 shares of common stock were not considered in computing diluted earnings per share for the nine months ended September 30, 2016 and 2015 as their exercise would have been antidilutive as the exercise price exceeded the average market value.