Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2015

The computation of basic and diluted earnings per share is shown below (in thousands except per share data):


	Three months ended March 31,
	2015			2014
Basic earnings per common share computation:
Net income per consolidated statements of income	$	5,565		$	5,166
Net earnings allocated to participating securities		(29	)		(22	)

Net earnings allocated to common stock	$	5,536		$	5,144

Distributed earnings allocated to common stock	$	2,370		$	2,375
Undistributed earnings allocated to common stock		3,166			2,769

Net earnings allocated to common stock	$	5,536		$	5,144

Weighted average common shares outstanding, including shares considered participating securities		14,424			14,444
Less: Average participating securities		(67	)		(52	)

Weighted average shares		14,357			14,392

Basic earnings per common share	$	0.39		$	0.36

Diluted earnings per common share computation:
Net earnings allocated to common stock	$	5,536		$	5,144

Weighted average common shares outstanding for basic earnings per common share		14,357			14,392
Add: Dilutive effects of assumed exercises of stock options		0			2

Weighted average shares and dilutive potential common shares		14,357			14,394

Diluted earnings per common share	$	0.39		$	0.36