Earnings Per Share

9 Months Ended

Sep. 30, 2016

Note 6: 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 and awards.

The following is a reconciliation of basic and diluted earnings per share for the three and nine months ended September 30, 2016, and 2015:


		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2016		2015		2016		2015

Net income	$	3,632	$	3,931	$	12,349	$	11,685

Weighted average common
shares outstanding
Basic		6,042,384		5,991,073		6,024,365		5,972,927
Effect of dilutive employee stock options		65,408		75,757		67,339		81,667
Diluted		6,107,792		6,066,830		6,091,704		6,054,594

Anti-dilutive options excluded from
earnings per share calculation		67,884		64,763		71,690		66,960

Per Common Share Data:
Basic earnings per share	$	0.60	$	0.66	$	2.05	$	1.96
Diluted earnings per share	$	0.59	$	0.65	$	2.03	$	1.93