Earnings Per Common Share

12 Months Ended

Dec. 31, 2016

Note 16 – Earnings Per Common Share

The factors used in the earnings per common share computation follow:

	2016			2015
	(Dollars in thousands, except share and per share)
Net income	$	3,480		$	9,072
Less net income attributable to participating securities		(3	)		-

Income available to common stockholders	$	3,477		$	9,072


Weighted average common shares outstanding for basic earnings per common share		28,999,327			29,076,708
Add: dilutive effects of assumed exercises of stock options		-			-
Add: dilutive effects of unvested restricted stock awards		99,173			-

Weighted average common shares outstanding for diluted earnings per common share		29,098,500			29,076,708


Earnings per common share – basic	$	0.12		$	0.31


Earnings per common share – diluted	$	0.12		$	0.31

Stock options for 540,625 shares and 90,625 shares of common stock for the years ended December 31, 2016 and 2015, respectively, were not considered in computing diluted earnings per common share because they were anti-dilutive.