EARNINGS PER SHARE

9 Months Ended

Sep. 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 September 30,		Nine Months Ended September 30,
	2017	2016	2017	2016
Weighted average shares outstanding for basic earnings per common share	25,193,894	25,069,434	25,176,593	25,044,596
Dilutive effect of stock options, awards and warrants	462,509	388,458	464,149	374,288
Weighted average shares outstanding for diluted earnings per common share	25,656,403	25,457,892	25,640,742	25,418,884

Basic earnings per common share	$ 0.63	$ 0.54	$ 1.82	$ 1.54
Diluted earnings per common share	$ 0.62	$ 0.53	$ 1.78	$ 1.52