Earnings Per Common Share

9 Months Ended

Sep. 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 nine months ended September 30, 2017 and 2016. Dilutive common shares arise from the potentially dilutive effect of the Company’s stock options that were outstanding at September 30, 2017. The assumed conversion of stock options can create a difference between basic and dilutive net income per common share. At September 30, 2017 and 2016, there were 109,450 and 108,457 options, respectively, that were not considered in computing diluted earnings per common share because they were anti-dilutive.


		Three months ended		Nine months ended
	September 30,			September 30,
(dollars in thousands, except share data)	2017		2016	2017	2016
Numerator:
Net income available to common shareholders	$	4,250	3,433	10,965	9,745
Denominator:
Weighted-average common shares outstanding – basic		7,281,594	6,322,073	6,905,017	6,299,009
Common stock equivalents		386,882	418,678	386,147	403,466
Weighted-average common shares outstanding – diluted		7,668,476	6,740,751	7,291,164	6,702,475
Earnings per common share:
Basic	$	0.58	0.54	1.59	1.55
Diluted	$	0.55	0.51	1.50	1.45