EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2017

NOTE 9. EARNINGS PER SHARE

Basic earnings per common share is net income available to common shareholders divided by the weighted average number of common shares outstanding during the period, including shares held in treasury on behalf of participants in the Company's Directors Fee Deferral Plan. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock options, stock awards and warrants, none of which were antidilutive.

	Three Months Ended June 30,		Six Months Ended June 30,
	2017	2016	2017	2016
Weighted average shares outstanding for basic earnings per common share	25,183,186	25,045,251	25,167,799	25,032,502
Dilutive effect of stock options, awards and warrants	436,791	350,519	450,753	338,105
Weighted average shares outstanding for diluted earnings per common share	25,619,977	25,395,770	25,618,552	25,370,607

Basic earnings per common share	$0.61	$0.51	$1.19	$1.00
Diluted earnings per common share	$0.60	$0.50	$1.17	$0.99