Earnings Per Share

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 2 – Earnings Per Share

Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents (stock-based awards). The following table provides information relating to the calculation of earnings per common share:

	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
(In thousands, except per share data)	2015		2014		2015		2014
Net income	$	1,909	$	1,262	$	4,945	$	3,825
Weighted average shares outstanding - Basic		12,630		12,615		12,627		10,381
Dilutive effect of common stock equivalents		10		10		10		12
Weighted average shares outstanding - Diluted		12,640		12,625		12,637		10,393
Earnings per common share - Basic	$	0.15	$	0.10	$	0.39	$	0.37
Earnings per common share - Diluted	$	0.15	$	0.10	$	0.39	$	0.37

There were no weighted average common stock equivalents excluded from the calculation of diluted earnings per share for the three and nine months ended September 30, 2015 and 2014.