Earnings Per Common Share

12 Months Ended

Dec. 31, 2016

Earnings Per Common Share [Abstract]

Earnings Per Common Share

NOTE 14 – Earnings Per Common Share

The following schedule reconciles the numerators and denominators of the basic and diluted earnings per share computations for the years ended December 31, 2016, 2015 and 2014. Dilutive common shares arise from the potentially dilutive effect of the Company’s stock options and warrants that are outstanding. The assumed conversion of stock options and warrants can create a difference between basic and dilutive net income per common share.

At December 31, 2016, 2015 and 2014, options totaling 108,315, 93,500, and 109,303, respectively, were anti-dilutive in the calculation of earnings per share as their exercise price exceeded the fair market value. These options were therefore excluded from the diluted earnings per share calculation.

	December 31,
(dollars in thousands, except share data)	2016	2015	2014
Numerator:
Net income	$ 13,036	10,167	6,625
Less:  Preferred stock dividends	-	-	915
Net income available to common shareholders	$ 13,036	10,167	5,710
Denominator:
Weighted-average common shares outstanding - basic	6,318,322	6,204,518	4,980,595
Common stock equivalents	402,566	356,221	218,781
Weighted-average common shares outstanding - diluted	6,720,888	6,560,739	5,199,376
Earnings per common share:
Basic	$   2.06	1.64	1.15
Diluted	$   1.94	1.55	1.10