Earnings Per Share

6 Months Ended

Jun. 30, 2018

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 and six months ended June 30, 2018 and 2017. 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)	2018		2017		2018		2017
Basic
Net income	$	7,509	$	6,513	$	15,601	$	12,820
Weighted-average common shares outstanding		12,239,901		12,268,481		12,236,478		12,260,515
Basic earnings per share	$	.61	$	.53	$	1.27	$	1.05
Diluted
Net income	$	7,509	$	6,513	$	15,601	$	12,820
Weighted-average common shares outstanding		12,239,901		12,268,481		12,236,478		12,260,515
Effect of dilutive restricted stock and stock appreciation rights		205,281		181,009		197,227		180,180
Weighted-average common shares outstanding assuming dilution		12,445,182		12,449,490		12,433,705		12,440,695
Diluted earnings per share	$	.60	$	.52	$	1.25	$	1.03