Earnings Per Common Share

9 Months Ended

Sep. 30, 2018

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, 2018 and 2017. Dilutive common shares arise from the potentially dilutive effect of the Company’s stock options that were outstanding at September 30, 2018. The assumed conversion of stock options can create a difference between basic and dilutive net income per common share. At September 30, 2018 and 2017, there were 181,892 and 109,450 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)	2018		2017	2018	2017
Numerator:
Net income available to common shareholders	$	5,782	4,250	16,506	10,965
Denominator:
Weighted-average common shares outstanding – basic		7,400,174	7,281,594	7,369,473	6,905,017
Common stock equivalents		346,031	386,882	372,010	386,147
Weighted-average common shares outstanding – diluted		7,746,205	7,668,476	7,741,483	7,291,164
Earnings per common share:
Basic	$	0.78	0.58	2.24	1.59
Diluted	$	0.75	0.55	2.13	1.50