Earnings Per Share

Basic earnings per share (EPS), which excludes dilution, is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, stock appreciation rights settled in stock or restricted stock awards, result in the issuance of common stock which shares in the earnings of the Company. A reconciliation of the numerators and denominators of the basic and diluted EPS computations is as follows:



Basic Earnings Per Share	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(In thousands, except share and per share amounts)	2017		2016		2017		2016
Net Income	$	4,948	$	6,058	$	9,198	$	9,461
Less: Preferred stock dividends and accretion	—		—		—		—
Net income available to common shareholders	$	4,948	$	6,058	$	9,198	$	9,461
Weighted average shares outstanding	12,207,570		10,970,782		12,187,324		10,962,314
Basic earnings per share	$	0.41	$	0.55	$	0.75	$	0.86



Diluted Earnings Per Share	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(In thousands, except share and per share amounts)	2017		2016		2017		2016
Net income available to common shareholders	$	4,948	$	6,058	$	9,198	$	9,461
Weighted average shares outstanding	12,207,570		10,970,782		12,187,324		10,962,314
Effect of dilutive stock options	131,314		97,108		140,473		91,955
Weighted average shares of common stock and common stock equivalents	12,338,884		11,067,890		12,327,797		11,054,269
Diluted earnings per share	$	0.40	$	0.55	$	0.75	$	0.86

No outstanding options or restricted stock awards were anti-dilutive for the six months ended June 30, 2017. Outstanding options and restricted stock of 8,850 were not factored into the calculation of dilutive stock options for the six months ended June 30, 2016, because they were anti-dilutive. During the three-month periods ended June 30, 2017 and 2016 no options or restricted stock awards were anti-dilutive.