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Earnings Per Share

3 Months Ended

Mar. 31, 2017

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
(Dollars in thousands, except per share data)	March 31,
	2017		2016
Basic Earnings Per Share
Net income available to common shareholders	$	1,446	$	1,274
Weighted average common shares outstanding		3,279,001		3,296,238
Basic earnings per share	$	0.44	$	0.39
Diluted Earnings Per Share
Net income available to common shareholders	$	1,446	$	1,274
Weighted average common shares outstanding		3,279,001		3,296,238
Plus dilutive stock options and restricted stock units		6,232		8,265
Weighted average common shares outstanding and potentially dilutive shares		3,285,233		3,304,503
Diluted earnings per share	$	0.44	$	0.39

There were 30,000 stock options as of March 31, 2017 and March 31, 2016 that are considered to be anti-dilutive to earnings per share for the three-month periods ended March 31, 2017 and March 31, 2016. These stock options have been excluded from the calculation above.