Earnings per share

3 Months Ended

Mar. 31, 2016

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 month periods ended March 31, 2016 and 2015.


	2016				2015
Three Months Ended March 31	Basic		Diluted		Basic		Diluted
Net Income	$	4,882	$	4,882	$	5,044	$	5,044
Average common shares outstanding		7,403,510		7,403,510		7,548,358		7,548,358
Earnings per share	$	0.66	$	0.66	$	0.67	$	0.67