NOTE 6 – EARNINGS PER SHARE

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

	Three months ended June 30,						Six months ended June 30,
	2018			2017			2018			2017
Basic
Net income per consolidated statements of operations	$	5,865		$	2,651		$	12,156		$	5,201
Less: Earnings allocated to participating securities		(49	)		(51	)		(102	)		(100	)
Net income available to common stockholders	$	5,816		$	2,600		$	12,054		$	5,101

Weighted average common shares outstanding including participating securities		8,198,257			4,629,004			8,195,542			4,629,004
Less: Weighted average participating securities		(68,770	)		(89,079	)		(68,770	)		(89,079	)
Weighted average common shares outstanding		8,129,487			4,539,925			8,126,772			4,539,925

Basic earnings per common share	$	0.72		$	0.57		$	1.48		$	1.12

Diluted
Net income allocated to common stockholders	$	5,816		$	2,600		$	12,054		$	5,101

Weighted average common shares outstanding for basic earnings per common share		8,129,487			4,539,925			8,126,772			4,539,925
Add: Dilutive effects of assumed exercise of stock options		160,561			33,000			156,834			33,000
Average shares and dilutive potential common shares		8,290,048			4,572,925			8,283,606			4,572,925

Dilutive earnings per common share	$	0.70		$	0.57		$	1.46		$	1.12

All stock options for shares of common stock were considered in computing diluted earnings per common share for three months and six months ended June 30, 2018 and 2017, as no options were anti-dilutive.