EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2015

NOTE 9 — EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Corporation. Potential common shares that may be issued by the Corporation relate solely to outstanding stock options and are determined using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share.

(In thousands, except earnings per share)	Three Months Ended
	September 30,
	2015		2014
Net income	$	2,485	$	2,383
Weighted-average common shares outstanding		5,594		5,544
Basic earnings per share	$	0.44	$	0.43

Weighted-average common shares outstanding		5,594		5,544
Common stock equivalents due to effect of stock options		2		5
Total weighted-average common shares and equivalents		5,596		5,549
Diluted earnings per share	$	0.44	$	0.43

(In thousands, except earnings per share)	Nine Months Ended
	September 30,
	2015		2014
Net income	$	7,364	$	7,437
Weighted-average common shares outstanding		5,581		5,553
Basic earnings per share	$	1.32	$	1.34

Weighted-average common shares outstanding		5,581		5,553
Common stock equivalents due to effect of stock options		2		5
Total weighted-average common shares and equivalents		5,583		5,538
Diluted earnings per share	$	1.32	$	1.34