Earnings Per Common Share

12 Months Ended

Dec. 31, 2017

Note 16 – Earnings Per Common Share

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

	2017			2016
	(Dollars in thousands, except share and per share)
Net income	$	1,869		$	3,480
Less net income attributable to participating securities		(5	)		(3	)

Income available to common stockholders	$	1,864		$	3,477


Weighted average common shares outstanding for basic earnings per common share		26,678,917			28,999,327
Add: dilutive effects of assumed exercises of stock options		27,117			-
Add: dilutive effects of unvested restricted stock awards		49,448			99,173

Weighted average common shares outstanding for diluted earnings per common share		26,755,482			29,098,500


Earnings per common share – basic	$	0.07		$	0.12


Earnings per common share – diluted	$	0.07		$	0.12

Stock options for 87,500 shares and 540,625 shares of common stock for the years ended December 31, 2017 and 2016, respectively, were not considered in computing diluted earnings per common share because they were anti-dilutive.