Earnings Per Common Share

6 Months Ended

Jun. 30, 2017

Earnings Per Common Share [Abstract]

NOTE 8 – Earnings Per Common Share

The following schedule reconciles the numerators and denominators of the basic and diluted earnings per share computations for the three and six months ended June 30, 2017 and 2016. Dilutive common shares arise from the potentially dilutive effect of the Company’s stock options that were outstanding at June 30, 2017. The assumed conversion of stock options can create a difference between basic and dilutive net income per common share. At June 30, 2017 and 2016, there were 120,681 and 97,500 options, respectively, that were not considered in computing diluted earnings per common share because they were anti-dilutive.


	Three months ended			Six months ended
	June 30,			June 30,
(dollars in thousands, except share data)	2017		2016	2017	2016
Numerator:
Net income available to common shareholders	$	3,604	3,306	6,716	6,312
Denominator:
Weighted-average common shares outstanding – basic		6,986,948	6,301,853	6,713,608	6,287,350
Common stock equivalents		379,260	400,967	385,773	395,776
Weighted-average common shares outstanding – diluted		7,366,208	6,702,820	7,099,381	6,683,126
Earnings per common share:
Basic	$	0.52	0.52	1.00	1.00
Diluted	$	0.49	0.49	0.95	0.94