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4. Net Earnings Per Common Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
4. Net Earnings Per Common Share

Net earnings per share is based on the weighted average number of shares outstanding during the period while the effects of potential shares outstanding during the period are included in diluted earnings per 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 share” and “diluted earnings per share” for the three months ended March 31, 2015 and 2014 is as follows:

 

For the three months ended March 31, 2015              
 

Net Earnings

(Dollars in

thousands)

     Shares  

Per Share

Amount

  
               
Basic earnings per share   $ 2,328       5,612,588     $ 0.41  
Effect of dilutive securities:                        
Stock options     -       38,470          
Diluted earnings per share   $ 2,328       5,651,058     $ 0.41  
                         
                         
For the three months ended March 31, 2014                        
 

Net Earnings

(Dollars in

thousands)

     Shares  

Per Share

Amount

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