EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2017

Earnings per share for the years ended December 31 were calculated as follows (in thousands, except share and per share data):



	2017		2016	2015
Net income	$	12,972	12,482	11,474
Less allocation of earnings and dividends to participating securities	7		13	—
Net income allocated to common shareholders	12,965		12,469	11,474

Weighted average common shares outstanding, gross	10,011,358		9,958,300	9,704,965
Less average participating securities	5,783		10,243	—
Weighted average number of shares outstanding used in the calculation of basic earnings per common share	10,005,575		9,948,057	9,704,965
Add dilutive effect of:
Stock options	6,936		10,765	17,174
Stock warrants	—		17,548	89,328
Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share	10,012,511		9,976,370	9,811,467

Earnings per common share:
Basic	$	1.30	1.26	1.18
Diluted	1.29		1.25	1.17