Earnings per Common Share

3 Months Ended

Mar. 31, 2016

Note 11. 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, 2016 and 2015 (dollars in thousands, except per share data):


	For the three months ended
	March 31,		March 31,
	2016		2015
(Numerator):
Net income	$	1,099	$	544
Effective dividend on preferred stock		—		329

Net income available to common shareholders	$	1,099	$	215

(Denominator):
Weighted average shares outstanding – basic		4,920,315		4,906,981
Potentially dilutive common shares – restricted stock units		2,802		4,063

Weighted average shares outstanding – diluted		4,923,117		4,911,044

Income per common share
Basic	$	0.22	$	0.04
Diluted	$	0.22	$	0.04