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

Note 4: Earnings Per Share

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company, such as the Company's dilutive stock options.

The following is a reconciliation of basic and diluted earnings per share for the three and six months ended June 30, 2014, and 2013:

    Three Months Ended   Six Months Ended
    June 30,   June 30,
    2014   2013   2014   2013
 
Net income $ 3,857 $ 3,170 $ 7,644 $ 6,386
 
Weighted average common shares outstanding                
Basic   5,921,025 5,894,388   5,916,387 5,890,006 
Effect of dilutive employee stock options   39,817   27,736   40,114   27,891
Diluted   5,960,842 5,922,124    5,956,501 5,917,897 
 
Anti-dilutive options excluded from                
earnings per share calculation   93,093   72,750   97,482   72,750
 
Per Common Share Data:                
Basic earnings per share $ 0.65 $ 0.54 $ 1.29 $ 1.08
Diluted earnings per share $ 0.65 $ 0.54 $ 1.28 $ 1.08

 

All share and per share amounts have been adjusted to reflect the effect of the 3-for-2 stock split (dividend) during May 2014.