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Earnings Per Share
 3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Earnings Per Share



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

 



 

March 31,

 

(In thousands, except per share data)

 

2017

 

2016

 



 

 

 

 

 

 

 

Net Income

 

$

 2,800 

 

$

 2,460 

 

Weighted average shares outstanding - Basic

 

 

 12,670 

 

 

 12,635 

 

Dilutive effect of common stock equivalents-options

 

 

 21 

 

 

 14 

 

Dilutive effect of common stock equivalents-restricted stock units

 

 

 16 

 

 

 -

 

Weighted average shares outstanding - Diluted

 

 

 12,707 

 

 

 12,649 

 

Earnings per common share - Basic

 

$

 0.22 

 

$

 0.19 

 

Earnings per common share - Diluted

 

$

 0.22 

 

$

 0.19 

 

 

There were no weighted average common stock equivalents excluded from the calculation of diluted earnings per share for the three months ended March 31, 2017 and 2016.