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Earnings Per Share | 9 Months Ended
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Sep. 30, 2019
Earnings per share: |
Earnings Per Share | 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:
|  | Three months ended |  |  | Nine months ended |
(Dollars in thousands, except per share amounts) |  | September 30, |  |  | September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Net earnings (1) |  | $ | 2,613 |  |  | $ | 3,020 |  |  | $ | 7,394 |  |  | $ | 7,964 |
Weighted average common shares outstanding - basic (1) |  |  | 4,374,344 |  |  |  | 4,365,917 |  |  |  | 4,372,867 |  |  |  | 4,342,896 |
Assumed exercise of stock options (1) |  |  | 14,924 |  |  |  | 17,846 |  |  |  | 14,503 |  |  |  | 17,140 |
Weighted average common shares outstanding - diluted (1) |  |  | 4,389,268 |  |  |  | 4,383,763 |  |  |  | 4,387,370 |  |  |  | 4,360,036 |
Net earnings per share (1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.60 |  |  | $ | 0.69 |  |  | $ | 1.69 |  |  | $ | 1.83 |
Diluted |  | $ | 0.60 |  |  | $ | 0.69 |  |  | $ | 1.69 |  |  | $ | 1.83 |
(1) | Share and per share values for the periods ended September 30, 2018 have been adjusted to give effect to the 5% stock dividend paid during December 2018.
The diluted earnings per share computations for the three months ended September 30, 2019 and 2018 excluded 95,264 and 30,859, respectively, of unexercised stock options because their inclusion would have been anti-dilutive during such periods. The diluted earnings per share computations for the nine months ended September 30, 2019 and 2018 excluded 95,264 and 30,859, respectively, of unexercised stock options because their inclusion would have been anti-dilutive during such periods.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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