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Earnings Per Share

6 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

Earnings Per Share

Note 3 – Earnings Per Share

Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the sum of the weighted-average number of common shares outstanding and the weighted-average number of potential common shares outstanding. There were no anti-dilutive shares in the three and six months ended June 30, 2017 and 2016. The calculations of basic and diluted earnings per share are as follows:

		Three Months Ended						Six Months Ended
		June 30,						June 30,
(In thousands except share and per share data)		2017			2016			2017			2016
Basic
Net income		$	6,513		$	5,869		$	12,820		$	11,702
Weighted-average common shares outstanding			11,153,260			11,134,559			11,145,996			11,184,058
Basic earnings per share		$	.58		$	.53		$	1.15		$	1.05
Diluted
Net income		$	6,513		$	5,869		$	12,820		$	11,702
Weighted-average common shares outstanding			11,153,260			11,134,559			11,145,996			11,184,058
Effect of dilutive restricted stock and stock appreciation rights			168,241			153,459			167,460			153,379
Weighted-average common shares outstanding assuming dilution			11,321,501			11,288,018			11,313,456			11,337,437
Diluted earnings per share		$	.58		$	.52		$	1.13		$	1.03

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

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