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Earnings per Common Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Earnings per Common Share
Note 10. Earnings per Common Share

Basic earnings per common share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance.

The following table presents the computation of basic and diluted earnings per share for the three months ended March 31, 2015 and 2014 (dollars in thousands, except per share data):

 

     For the three months ended  
     March 31,      March 31,  
     2015      2014  

(Numerator):

      

Net income

    $ 544       $ 1,146   

Effective dividend and accretion on preferred stock

      329         220   
  

 

 

     

 

 

  

Net income available to common shareholders

 $ 215    $ 926   
  

 

 

     

 

 

  

(Denominator):

Weighted average shares outstanding – basic

   4,906,981      4,901,464   

Potentially dilutive common shares – restricted stock units

   4,063      —     
  

 

 

     

 

 

  

Weighted average shares outstanding – diluted

   4,911,044      4,901,464   
  

 

 

     

 

 

  

Income per common share

Basic

 $ 0.04    $ 0.19   

Diluted

 $ 0.04    $ 0.19