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Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2017

Earnings per share:

Schedule of Earnings Per Share, Basic and Diluted

The shares used in the calculation of basic and diluted earnings per share are shown below:

		Three months ended								Six months ended
(Dollars in thousands, except per share amounts)		June 30								June 30
		2017				2016				2017				2016
Net earnings(1)		$	2,383			$	2,326			$	4,588			$	4,719

Weighted average common shares outstanding - basic (2)			3,870,564				3,794,355				3,870,183				3,764,497
Assumed exercise of stock options (1)(2)			80,087				91,322				79,086				89,751
Weighted average common shares outstanding - diluted (1)(2)			3,950,651				3,885,677				3,949,269				3,854,248
Net earnings per share (1)(2):
Basic		$	0.62			$	0.61			$	1.19			$	1.25
Diluted		$	0.60			$	0.60			$	1.16			$	1.22

(1)	Net earnings, earnings per share and assumed exercise of stock options for the periods ended June 30, 2016 have been recast to reflect the early adoption of ASU 2016-09.
(2)	Share and per share values for the periods ended June 30, 2016 have been adjusted to give effect to the 5% stock dividend paid during December 2016.