Earnings Per Share

3 Months Ended

Mar. 31, 2016

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, 2016 and 2015. 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)	2016		2015
Basic
Net income	$	5,833	$	5,539
Weighted-average common shares outstanding		11,233,558		11,440,356
Basic earnings per share	$	.52	$	.48
Diluted
Net income	$	5,833	$	5,539
Weighted-average common shares outstanding		11,233,558		11,440,356
Effect of dilutive restricted stock and stock appreciation rights		153,299		161,497
Weighted-average common shares outstanding assuming dilution		11,386,857		11,601,853
Diluted earnings per share	$	.51