Earnings Per Share

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2016 and 2015. The calculations of basic and diluted earnings per share are as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands except share and per share data)	2016		2015		2016		2015
Basic
Net income	$	5,869	$	5,548	$	11,702	$	11,087
Weighted-average common shares
outstanding		11,134,559		11,388,907		11,184,058		11,414,489
Basic earnings per share	$	.53	$	.49	$	1.05	$	.97
Diluted
Net income	$	5,869	$	5,548	$	11,702	$	11,087
Weighted-average common shares
outstanding		11,134,559		11,388,907		11,184,058		11,414,489
Effect of dilutive restricted stock
and stock appreciation rights		153,459		163,898		153,379		162,705
Weighted-average common shares
outstanding assuming dilution		11,288,018		11,552,805		11,337,437		11,577,194
Diluted earnings per share	$	.52	$	.48	$	1.03