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4. Net Earnings Per Common Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
4. Net Earnings Per Common Share
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 months ended March 31, 2014 and 2013 is as follows:

 

For the three months ended March 31, 2014          
 

Net Earnings

Available to

Common

Shareholders

(Dollars in

thousands)

   Common Shares  

Per Share

Amount

           
Basic earnings per common share $ 2,578   5,613,495   $ 0.46
Effect of dilutive securities:              
Stock options   -     19,359      
Diluted earnings per common share $ 2,578   5,632,854   $ 0.46

 

 

For the three months ended March 31, 2013          
 

Net Earnings 

Available to Common

Shareholders

(Dollars in

thousands)

   Common Shares  

Per Share

Amount

           
Basic earnings per common share $ 1,601   5,613,495   $ 0.29
Effect of dilutive securities:              
Stock options   -     4,778      
Diluted earnings per common share $ 1,601   5,618,273   $ 0.29