EARNINGS PER SHARE ("EPS")

6 Months Ended

Jun. 30, 2017

EARNINGS PER SHARE (“EPS”)

The following tables set forth the calculation of basic and diluted EPS for the three and six month periods ended June 30, 2017 and 2016.



	For the three months ended June 30,				For the six months ended June 30,
	2017		2016		2017		2016

Basic earnings per common share
Net income available to common shareholders	$	3,402	$	8,348	$	6,563	$	10,657
Average common shares outstanding	7,577,310		7,495,234		7,570,994		7,480,204
Basic earnings per common share	$	0.45	$	1.11	$	0.87	$	1.42
Diluted earnings per common share
Net income available to common shareholders	$	3,402	$	8,348	$	6,563	$	10,657
Dividend on Series B Preferred Stock	297		300		596		600
Average common shares outstanding	7,577,310		7,495,234		7,570,994		7,480,204
Dilutive potential common shares	2,343,806		2,312,409		2,339,883		2,307,385
Total diluted average common shares outstanding	9,921,116		9,807,643		9,910,877		9,787,589
Diluted earnings per common share	$	0.37	$	0.88	$	0.72	$	1.15

All share information has been adjusted for the 10% stock dividend paid May 19, 2017.

On June 27, 2017, the Company declared a quarterly cash dividend of $0.12 per share to common shareholders of record as of July 14, 2017 and payable on July 28, 2017.