Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2016

Schedule of Earnings Per Share, Basic and Diluted

Basic earnings per share (“EPS”) has been computed by dividing net income by the weighted average number of shares of common stock outstanding during each period. Shares issued during the period are weighted for the portion of the period that they were outstanding. Our calculation of diluted earnings per common share includes the dilutive effects for an assumed vesting of restricted stock awards.

	Three months		Six months
	ended June 30,		ended June 30,
	2016	2015	2016	2015
Basic weighted average common shares outstanding	5,399,342	5,374,863	5,394,345	5,372,293
Effect of dilutive shares	13,903	15,958	13,908	13,255
Diluted weighted average common shares outstanding	5,413,245	5,390,821	5,408,253	5,385,548

Pro forma Earnings Per Share

Pro forma earnings per share is as follows, giving retroactive effect to the stock split:

	Three months				Six months
	ended June 30,				ended June 30,
	2016		2015		2016		2015
Earnings per share:
Basic – as reported	$	1.11	$	1.02	$	2.32	$	1.99
Basic – pro forma	$	0.55	$	0.51	$	1.16	$	1.00
Diluted – as reported	$	1.10	$	1.02	$	2.32	$	1.99
Diluted – pro forma	$	0.55	$	0.51	$	1.16	$	0.99
Weighted average common shares outstanding:
Basic – as reported		5,399,342		5,374,863		5,394,345		5,372,293
Basic – pro forma		10,798,684		10,749,726		10,788,691		10,744,586
Diluted – as reported		5,413,245		5,390,821		5,408,253		5,385,548
Diluted – pro forma		10,826,490		10,781,642		10,816,507		10,771,096