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4. Net Earnings Per Share
 6 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
4. Net Earnings Per 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 and six months ended June 30, 2015 and 2014 is as follows:

 

For the three months ended June 30, 2015          
 

Net Earnings

(Dollars in

thousands)

   Shares  

Per Share

Amount

Basic earnings per share $ 2,624   5,574,915   $ 0.47
Effect of dilutive securities:              
Stock options   -     44,910      
Diluted earnings per share $ 2,624   5,619,825   $ 0.47
               
For the six months ended June 30, 2015              
 

Net Earnings

(Dollars in

thousands)

   Shares  

Per Share

Amount

Basic earnings per share $ 4,952   5,593,648   $ 0.89
Effect of dilutive securities:              
Stock options   -     41,708      
Diluted earnings per share $ 4,952   5,635,356   $ 0.88

 

For the three months ended June 30, 2014          
 

Net Earnings

 (Dollars in

thousands)

   Shares  

Per Share

Amount

Basic earnings per share $ 2,551   5,616,008   $ 0.45
Effect of dilutive securities:              
Stock options   -     25,471      
Diluted earnings per share $ 2,551   5,641,479   $ 0.45
               
For the six months ended June 30, 2014              
 

Net Earnings

(Dollars in

thousands)

   Shares  

Per Share

Amount

Basic earnings per share $ 5,130   5,614,758   $ 0.91
Effect of dilutive securities:              
Stock options   -     22,432      
Diluted earnings per share $ 5,130   5,637,190   $ 0.91