Three Months Ended

March, 31

($ in thousands - except per share data)

2016

2015

Distributed earnings allocated to common shares

$

271

$

221

Undistributed earnings allocated to common shares

1,138

1,049

Net earnings allocated to common shares

1,409

1,270

Net earnings allocated to participating securities

2

1

Dividends on convertible preferred shares

244

225

Net Income allocated to common shares and participating securities

$

1,655

$

1,496

Weighted average shares outstanding for basic earnings per share

4,896

4,879

Dilutive effect of stock compensation

53

49

Dilutive effect of convertible shares

1,452

1,451

Weighted average shares outstanding for diluted earnings per share

6,401

6,379

Basic earnings per common share

$

0.29

$

0.26

Diluted earnings per common share

$

0.26

$

0.23