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Earnings Per Share
 6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share

Note 3 – 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 Six Months Ended



 

June 30,

 

June 30,

(In thousands, except per share data)

 

2017

 

2016

 

2017

 

2016



 

 

 

 

 

 

 

 

 

 

 

 

Net Income

 

$

 2,352 

 

$

 2,272 

 

$

 5,152 

 

$

 4,732 

Weighted average shares outstanding - Basic

 

 

 12,681 

 

 

 12,648 

 

 

 12,676 

 

 

 12,642 

Dilutive effect of common stock equivalents-options

 

 

 21 

 

 

 -

 

 

 21 

 

 

 -

Dilutive effect of common stock equivalents-restricted stock units

 

 

 33 

 

 

 17 

 

 

 33 

 

 

 15 

Weighted average shares outstanding - Diluted

 

 

 12,735 

 

 

 12,665 

 

 

 12,730 

 

 

 12,657 

Earnings per common share - Basic

 

$

 0.19 

 

$

 0.18 

 

$

 0.41 

 

$

 0.37 

Earnings per common share - Diluted

 

$

 0.19 

 

$

 0.18 

 

$

 0.41 

 

$

 0.37 

 

There were no weighted average common stock equivalents excluded from the calculation of diluted earnings per share for the three and six months ended June 30, 2017 and 2016.