EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 4 – EARNINGS PER SHARE

The computation of basic and diluted earnings per share is shown below (dollars in thousands, except per share data):

	Three months ended March 31,
	2018			2017
Basic
Net income per consolidated statements of income	$	6,291		$	2,548
Less:  Earnings allocated to participating securities		(53	)		(49	)
Net income available to common stockholders	$	6,238		$	2,499
Weighted average common shares outstanding including participating securities		8,192,798			4,633,012
Less:  Weighted average participating securities		(68,770	)		(89,087	)
Weighted average common shares outstanding		8,124,028			4,543,925
Basic earnings per common share	$	0.77		$	0.55
Diluted
Net income allocated to common stockholders	$	6,238		$	2,499
Weighted average common shares outstanding for basic earnings per common share		8,124,028			4,543,925
Add:  Dilutive effects of assumed exercise of stock options		151,215			33,000
Average shares and dilutive potential common shares		8,275,243			4,576,925
Dilutive earnings per common share	$	0.75		$	0.55

All stock options for shares of common stock were considered in computing diluted earnings per common share for three months ended March 31, 2018 and 2017, as no options were anti-dilutive.