Earnings Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share

Note 3 – Earnings Per Share

Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the sum of the weighted-average number of common shares outstanding and the weighted-average number of potential common shares outstanding. There were no anti-dilutive shares in the three months ended March 31, 2015 and 2014. The calculations of basic and diluted earnings per share are as follows:

	Three Months Ended
	March 31,
(In thousands except share and per share data)	2015		2014
Basic
Net income	$	5,539	$	5,811
Weighted-average common shares outstanding		11,440,356		11,478,116
Basic earnings per share	$	.48	$	.51
Diluted
Net income	$	5,539	$	5,811
Weighted-average common shares outstanding		11,440,356		11,478,116
Effect of dilutive restricted stock and stock appreciation rights		161,497		194,707
Weighted-average common shares outstanding assuming dilution		11,601,853		11,672,823
Diluted earnings per share	$	.48	$	.50