Earnings per Common Share

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2016 and 2015 (dollars in thousands, except per share data):


	For the three months ended				For the six months ended
	June 30,		June 30,		June 30,		June 30,
	2016		2015		2016		2015
(Numerator):
Net income	$	1,433	$	444	$	2,532	$	988
Effective dividend and accretion on preferred stock		—		328		—		657

Net income available to common shareholders	$	1,433	$	116	$	2,532	$	331

(Denominator):
Weighted average shares outstanding – basic		4,924,702		4,909,775		4,922,509		4,908,386
Potentially dilutive common shares – restricted stock units		2,157		1,523		2,089		2,793

Weighted average shares outstanding – diluted		4,926,859		4,911,298		4,924,598		4,911,179

Income per common share
Basic	$	0.29	$	0.02	$	0.51	$	0.07
Diluted	$	0.29	$	0.02	$	0.51	$	0.07