Earnings Per Share

12 Months Ended

Dec. 31, 2015

EARNINGS PER SHARE

Basic earnings per share are computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the year. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity.

The following table presents a reconciliation of the components used to compute basic and diluted earnings per share for the years ended December 31, 2015 and 2014.



	At or For the Years Ended
	December 31,
Numerator:	2015		2014
Net Income (in thousands)	$	8,876	$	4,540
Denominator:
Basic weighted average common shares outstanding	2,978,165		2,979,099
Dilutive shares	54,352		6,965
Diluted weighted average common shares outstanding	3,032,517		2,986,064
Basic earnings per share	$	2.98	$	1.52
Diluted earnings per share	$	2.93	$	1.52
Potentially dilutive weighted average share options that were not included in the computation of diluted EPS because to do so would be anti-dilutive	—		25,589

The Company purchased 259,210 shares in the open market during the year ended December 31, 2012, for the ESOP. For earnings per share calculations, the ESOP shares committed to be released are included as outstanding shares for both basic and diluted earnings per share. There were 155,526 shares in the ESOP that were not committed to be released at December 31, 2015.