Earnings Per Share

3 Months Ended

Mar. 31, 2017

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, 2017 and 2016. 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)	2017		2016
Basic
Net income	$	6,307	$	5,833
Weighted-average common shares outstanding		11,124,250		11,233,558
Basic earnings per share	$	.57	$	.52
Diluted
Net income	$	6,307	$	5,833
Weighted-average common shares outstanding		11,124,250		11,233,558
Effect of dilutive restricted stock and stock appreciation rights		166,671		153,299
Weighted-average common shares outstanding assuming dilution		11,290,921		11,386,857
Diluted earnings per share	$	.56	$	.51