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Earnings Per Share
 9 Months Ended
Sep. 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 Companys dilutive stock options.

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

Three Months Ended Nine Months Ended
September 30, September 30,
2014 2013 2014 2013
Net income $ 3,867 $ 3,533 $ 11,511 $ 9,919
Weighted average common shares outstanding
Basic 5,931,342 5,904,193 5,921,427 5,894,789
Effect of dilutive employee stock options 52,581 35,712 44,147 29,056
Diluted 5,983,923 5,939,905 5,965,574 5,923,845
Anti-dilutive options excluded from earnings per
share calculation 41,256 60,315 85,431 72,954
Per Common Share Data:
Basic earnings per share $ 0.65 $ 0.60 $ 1.94 $ 1.68
Diluted earnings per share $ 0.65 $ 0.59 $ 1.93 $ 1.67

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