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EARNINGS PER SHARE

9 Months Ended

Sep. 30, 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				Nine Months Ended
(Dollars in thousands, except per share data)	September 30,				September 30,
	2018		2017		2018		2017
Basic Earnings Per Share
Net income available to common shareholders	$	2,014	$	1,720	$	5,505	$	4,801

Weighted average common shares outstanding		3,613,516		3,624,892		3,613,891		3,620,758

Basic earnings per share	$	0.55	$	0.47	$	1.52	$	1.33

Diluted Earnings Per Share
Net income available to common shareholders	$	2,014	$	1,720	$	5,505	$	4,801

Weighted average common shares outstanding		3,613,516		3,624,892		3,613,891		3,620,758
Plus dilutive stock options and restricted stock units		16,535		6,689		13,497		4,981

Weighted average common shares outstanding and potentially dilutive shares		3,630,051		3,631,581		3,627,388		3,625,739

Diluted earnings per share	$	0.55	$	0.46	$	1.52	$	1.32

There were no stock options that were considered to be anti-dilutive to earnings per share for the three or nine months ended September 30, 2018. There were no stock options that were considered to be anti-dilutive for the three months ended September 30, 2017 and 31,500 stock options for the nine months ended September 30, 2017.

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