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EARNINGS PER COMMON SHARE
 12 Months Ended
Dec. 31, 2016
EARNINGS PER COMMON SHARE [Abstract]  
EARNINGS PER COMMON SHARE

NOTE 16. EARNINGS PER COMMON SHARE

 

Basic earnings/(loss) per common share is calculated by dividing net income/(loss) available to (allocable to) common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings/(loss) per common share is calculated by dividing net income/(loss) available to (allocable to) common stockholders by the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents (stock-based awards). There is no dilutive effect on the loss per share during loss periods. The following table provides information relating to the calculation of earnings/(loss) per common share.

 





 

 

 

 

 

 

 

 

 

(In thousands, except per share data)

 

2016

 

2015

 

2014



 

 

 

 

 

 

 

 

 

Net income

 

$

 9,638 

 

$

 7,108 

 

$

 5,051 



 

 

 

 

 

 

 

 

 

Weighted average shares outstanding - basic

 

 

 12,652 

 

 

 12,629 

 

 

 10,945 



 

 

 

 

 

 

 

 

 

Dilutive effect of common stock equivalents

 

 

 17 

 

 

 10 

 

 

 8 



 

 

 

 

 

 

 

 

 

Weighted average shares outstanding - diluted

 

 

 12,669 

 

 

 12,639 

 

 

 10,953 



 

 

 

 

 

 

 

 

 

Income per common share - basic

 

$

 0.76 

 

$

 0.56 

 

$

 0.46 



 

 

 

 

 

 

 

 

 

Income per common share - diluted

 

$

 0.76 

 

$

 0.56 

 

$

 0.46 

 

The calculations of diluted income per share excluded weighted average common stock equivalents of 0 for 2016,  0 for 2015, and 51 thousand for 2014 because the effect of including them would have been antidilutive.