Earnings Per Share

9 Months Ended

Sep. 30, 2015

The following shows the weighted average number of shares used in computing earnings per common share and the effect on weighted average number of shares of potentially dilutive common stock. Potentially dilutive common stock had no effect on income available to common shareholders. The following tables present basic and diluted earnings per share for the three and nine months period ended September 30, 2015 and 2014.



	Three Months Ended September 30,
	2015			2014
	Shares	Per Share Amount		Shares	Per Share Amount
Basic	8,668,618	$	0.47	7,841,078	$	0.40
Effect of dilutive securities - stock options	7,953	—		10,657	—
Diluted	8,676,571	$	0.47	7,851,735	$	0.40



	Nine Months Ended September 30,
	2015		2014
	Shares	Per Share Amount	Shares	Per Share Amount
Basic	8,698,394	1.20	7,871,016	1.25
Effect of dilutive securities - stock options	8,476	—	10,425	—
Diluted	8,706,870	1.20	7,881,441	1.25

Stock options on common stock which were not included in computing diluted earnings per share for the nine month periods ended September 30, 2015 and 2014, because their effects were anti-dilutive, averaged 78,127 and 120,277 shares, respectively. Nonvested restricted stock is included in calculating basic earnings per share because the holder has voting rights and shares in non-forfeitable dividends during the vesting period.