XML 26 R14.htm IDEA: XBRL DOCUMENT v3.5.0.2
Earnings per Share
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
5.
Earnings per Share
 
Basic earnings per share have been computed based upon the weighted average number of common shares outstanding during each period. Diluted earnings per share include 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:
 
(Dollars in thousands, except per share amounts)
 
September 30
 
September 30
 
 
 
2016
 
2015
 
2016
 
2015
 
Net earnings
 
$
2,094
 
$
2,529
 
$
6,616
 
$
7,922
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding - basic (1)
 
 
3,645,618
 
 
3,506,440
 
 
3,605,509
 
 
3,504,487
 
Assumed exercise of stock options (1)
 
 
69,165
 
 
115,397
 
 
67,129
 
 
101,674
 
Weighted average common shares outstanding - diluted (1)
 
 
3,714,783
 
 
3,621,837
 
 
3,672,638
 
 
3,611,251
 
Net earnings per share (1):
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
$
0.57
 
$
0.72
 
$
1.83
 
$
2.26
 
Diluted
 
$
0.56
 
$
0.70
 
$
1.80
 
$
2.19
 
 
(1) Share and per share values for the periods ended September 30, 2015 have been adjusted to give effect to the 5% stock dividend paid during December 2015.
 
The diluted earnings per share computations for the three and nine months ended September 30, 2016 and 2015 include all unexercised stock options because no stock options were anti-dilutive during such periods.