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Net Income Per Share
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Net Income Per Share
3. NET INCOME PER SHARE

Basic net income per share is computed by dividing net income by the weighted average shares of common stock outstanding. Included in basic shares are certain shares that have been accrued as of the balance sheet date as deferred compensation for members of USBI’s board of directors. Diluted net income per share is computed by dividing net income by the weighted average shares of common stock outstanding, adjusted for the effect of potentially dilutive stock awards outstanding during the period. The dilutive shares are comprised of nonqualified stock option grants issued during 2014 to management and members of USBI’s board of directors pursuant to the USBI 2013 Incentive Plan previously approved by USBI’s shareholders. The following table reflects weighted average shares used to calculate basic and diluted net income per share for the periods presented.

 

     Three Months Ended
September 30,		      Nine Months Ended
September 30,		  
     2014      2013      2014      2013  

Basic shares

      6,129,380         6,027,562         6,125,291         6,024,935   

Dilutive shares

      83,400         —           83,400         —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted shares

      6,212,780         6,027,562         6,208,691         6,024,935   
  

 

 

     

 

 

     

 

 

     

 

 

  
     Three Months Ended
September 30,		      Nine Months Ended
September 30,		  
     2014      2013      2014      2013  

Net income

    $ 837       $ 904       $ 2,829       $ 2,972   
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic net income per share

    $ 0.14       $ 0.15       $ 0.46       $ 0.49   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted net income per share

    $ 0.13       $ 0.15       $ 0.46       $ 0.49