Earnings Per Common Share

12 Months Ended

Dec. 31, 2017

Earnings Per Common Share [Abstract]

NOTE 14 – Earnings Per Common Share

The following schedule reconciles the numerators and denominators of the basic and diluted earnings per share computations for the years ended December 31, 2017, 2016 and 2015. Dilutive common shares arise from the potentially dilutive effect of the Company’s stock options and warrants that are outstanding. The assumed conversion of stock options and warrants can create a difference between basic and dilutive net income per common share.

At December 31, 2017, 2016 and 2015, options totaling 107,015, 108,315, and 93,500, respectively, were anti-dilutive in the calculation of earnings per share as their exercise price exceeded the fair market value. These options were therefore excluded from the diluted earnings per share calculation.


	December 31,
(dollars in thousands, except share data)		2017		2016	2015
Numerator:
Net income		$	13,045	13,036	10,167
Net income available to common shareholders		$	13,045	13,036	10,167
Denominator:
Weighted-average common shares outstanding - basic			7,005,703	6,318,322	6,204,518
Common stock equivalents			387,674	402,566	356,221
Weighted-average common shares outstanding - diluted			7,393,377	6,720,888	6,560,739
Earnings per common share:
Basic		$	1.86	2.06	1.64
Diluted		$	1.76	1.94	1.55