XML 23 R13.htm IDEA: XBRL DOCUMENT v3.5.0.2
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2016
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   Six Months Ended 
(Dollars in thousands, except per share data)  June 30,   June 30, 
   2016   2015   2016   2015 
Basic Earnings Per Share                
Net income available to common shareholders  $1,445   $1,431   $2,719   $3,073 
                     
Weighted average common shares outstanding   3,299,836    3,285,290    3,298,037    3,287,063 
                     
Basic earnings per share  $0.43   $0.43   $0.82   $0.93 
                     
Diluted Earnings Per Share                    
Net income available to common shareholders  $1,445   $1,431   $2,719   $3,073 
                     
Weighted average common shares outstanding   3,299,836    3,285,290    3,298,037    3,287,063 
Plus dilutive stock options and restricted stock units   5,178    9,256    5,286    9,300 
                     
Weighted average common shares outstanding and potentially dilutive shares   3,305,014    3,294,546    3,303,323    3,296,363 
                     
Diluted earnings per share  $0.43   $0.43   $0.82   $0.93 

 

There were 30,000 stock options as of June 30, 2016 and zero as of June 30, 2015 with an exercise price more than the current market price. These stock options have been excluded from the calculation of diluted earnings above.