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EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2018

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,
	2018		2017
Basic Earnings Per Share
Net income available to common shareholders	$	1,658	$	1,446

Weighted average common shares outstanding		3,615,005		3,615,099

Basic earnings per share	$	0.46	$	0.40

Diluted Earnings Per Share
Net income available to common shareholders	$	1,658	$	1,446

Weighted average common shares outstanding		3,615,005		3,615,099
Plus dilutive stock options and restricted stock units		13,944		6,871

Weighted average common shares outstanding and potentially dilutive shares		3,628,949		3,621,969

Diluted earnings per share	$	0.46	$	0.40

All per share amounts have been adjusted for 5% stock dividend declared on April 25, 2018 and the 5% stock dividend issued on May 31, 2017 where applicable.

There were no stock options that were considered to be anti-dilutive to earnings per share as of March 31, 2018. There were 30,000 stock options that were considered to be anti-dilutive to earnings per share as of March 31, 2017 and were excluded from the calculation above.