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Earnings per Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
5.
Earnings per Share
 
Basic earnings per share has been computed based upon the weighted average number of common shares outstanding during each period. Diluted earnings per share includes the effect of all potential common shares outstanding during each period. The shares used in the calculation of basic and diluted earnings per share are shown below:
 
 
 
Three months ended
 
(Dollars in thousands, except per share amounts)
 
March 31,
 
 
 
2014
 
2013
 
Net earnings
 
$
1,699
 
$
1,440
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding - basic (1)
 
 
3,149,090
 
 
2,922,719
 
Assumed exercise of stock options (1)
 
 
38,652
 
 
48,462
 
Weighted average common shares outstanding - diluted (1)
 
 
3,187,742
 
 
2,971,181
 
Net earnings per share (1):
 
 
 
 
 
 
 
Basic
 
$
0.54
 
$
0.47
 
Diluted
 
$
0.53
 
$
0.46
 
 
(1) Share and per share values for the period ended March 31, 2013 have been adjusted to give effect to the 5% stock dividend paid during December 2013.
 
The diluted earnings per share computations for the three months ended March 31, 2014 and 2013 include all unexercised stock options.