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Earnings Per Share
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 4 - EARNINGS PER SHARE

 

Earnings per share are based on the weighted average number of shares outstanding during the period. A computation of basic earnings per share and diluted earnings per share follows:

 

   Three Months Ended  Nine Months Ended
(Dollars in thousands, except per share data)  September 30,  September 30,
   2015  2014  2015  2014
Basic Earnings Per Share            
   Net income available to common shareholders  $1,450   $1,554   $4,523   $4,139 
                     
  Weighted average common shares outstanding   3,289,146    3,300,139    3,287,765    3,298,321 
                     
  Basic earnings per share  $0.44   $0.47   $1.37   $1.25 
                     
Diluted Earnings Per Share                    
   Net income available to common shareholders  $1,450   $1,554   $4,523   $4,139 
                     
  Weighted average common shares outstanding   3,289,146    3,300,139    3,287,765    3,298,321 
  Plus dilutive stock options and restricted stock units   6,686    9,129    6,841    8,662 
                     
  Weighted average common shares outstanding                    
    and potentially dilutive shares   3,295,832    3,309,268    3,294,606    3,306,983 
                     
  Diluted earnings per share  $0.44   $0.47   $1.37   $1.25 

 

There were zero stock options as of September 30, 2015 and 6,038 stock options as of September 30, 2014, that are considered to be anti-dilutive to earnings per share for the three-month and nine-month periods ended September 30, 2015 and 2014. These stock options have been excluded from the calculation above.