Earnings Per Common Share

9 Months Ended

Sep. 30, 2016

The calculations of basic and diluted earnings per common share were as follows:



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands, except per share data)	2016		2015		2016		2015
Distributed earnings allocated to common shareholders	$	2,879	$	2,727	$	8,471	$	7,696
Undistributed earnings allocated to common shareholders	4,881		1,375		15,189		574
Net earnings allocated to common shareholders	$	7,760	$	4,102	$	23,660	$	8,270

Weighted-average common shares outstanding	17,993,443		18,127,131		18,015,249		17,357,034
Effect of potentially dilutive common shares	117,267		144,848		108,411		130,608
Total weighted-average diluted common shares outstanding	18,110,710		18,271,979		18,123,660		17,487,642

Earnings per common share:
Basic	$	0.43	$	0.23	$	1.31	$	0.48
Diluted	$	0.43	$	0.22	$	1.31	$	0.47

Anti-dilutive shares excluded from calculation:
Restricted shares, stock options and stock appreciation rights	18,604		42,832		24,461		47,831