Earnings per share

6 Months Ended

Jun. 30, 2015

3. Earnings per share:

Basic earnings per share represent income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate solely to outstanding stock options, and are determined using the treasury stock method.

There were no shares considered anti-dilutive for the three and six month periods ended June 30, 2015 and 2014.


	2015				2014
For the three months ended June 30	Basic		Diluted		Basic		Diluted
Net Income (Numerator)	$	4,431	$	4,431	$	3,331	$	3,331
Average common shares outstanding (Denominator)		7,546,198		7,546,198		7,548,358		7,570,883
Earnings per share	$	0.59	$	0.59	$	0.44	$	0.44

	2015				2014
For the six months ended June 30	Basic		Diluted		Basic		Diluted
Net Income (Numerator)	$	9,475	$	9,475	$	8,029	$	8,029
Average common shares outstanding (Denominator)		7,547,272		7,547,272		7,549,300		7,575,655
Earnings per share	$	1.26	$	1.26	$	1.06	$	1.06