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4. Net Earnings Per Common Share
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
4. Net Earnings Per Common Share

Net earnings per common share is based on the weighted average number of common shares outstanding during the period while the effects of potential common shares outstanding during the period are included in diluted earnings per common share.  The average market price during the year is used to compute equivalent shares.

 

The reconciliation of the amounts used in the computation of both “basic earnings per common share” and “diluted earnings per common share” for the three and nine months ended September 30, 2013 and 2012 is as follows:

 

For the three months ended September 30, 2013          
  Net Earnings Available to Common Shareholders (Dollars in thousands)   Common Shares   Per Share Amount
Basic earnings per common share $ 1,762   5,613,495   $ 0.31
Effect of dilutive securities:              
Stock options   -     15,180      
Diluted earnings per common share $ 1,762   5,628,675   $ 0.31
               
For the nine months ended September 30, 2013              
  Net Earnings Available to Common Shareholders (Dollars in thousands)   Common Shares   Per Share Amount
Basic earnings per common share $ 4,840   5,613,495   $ 0.86
Effect of dilutive securities:              
Stock options   -     8,554      
Diluted earnings per common share $ 4,840   5,622,049   $ 0.86

 

For the three months ended September 30, 2012          
  Net Earnings Available to Common Shareholders (Dollars in thousands)   Common Shares   Per Share Amount
Basic earnings per common share $ 1,256   5,559,016   $ 0.23
Effect of dilutive securities:              
Stock options   -     2,570      
Diluted earnings per common share $ 1,256   5,561,586   $ 0.23
               
For the nine months ended September 30, 2012              
  Net Earnings Available to Common Shareholders (Dollars in thousands)   Common Shares   Per Share Amount
Basic earnings per common share $ 3,727   5,549,148   $ 0.67
Effect of dilutive securities:              
Stock options   -     2,168      
Diluted earnings per common share $ 3,727   5,551,316   $ 0.67