Earnings Per Share

3 Months Ended

Mar. 31, 2015

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 months ended March 31, 2015, and 2014:


		Three Months Ended
		March 31,
		2015		2014

Net income available to common shareholders	$	3,881	$	3,787

Weighted average common shares outstanding
Basic		5,953,538		5,911,698
Effect of dilutive employee stock options and awards		79,719		40,829
Diluted		6,033,257		5,952,527

Anti-dilutive options excluded from earnings per share calculation		10,500		68,676

Per Common Share Data:
Basic earnings per share	$	0.65	$	0.64
Diluted earnings per share	$	0.64	$	0.64

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

- Definition

The entire disclosure for earnings per share.

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