Earnings Per Common Share

3 Months Ended

Mar. 31, 2017

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. Nonvested restricted shares are included in the computation of basic earnings per share as the holder is entitled to full shareholder benefits during the vesting period including voting rights and sharing in nonforfeitable dividends. The following table presents basic and diluted earnings per share for the three month period ended March 31, 2017 and 2016.



	Three Months Ended March 31,
	2017			2016
	Shares	Per Share Amount		Shares	Per Share Amount
Basic earnings per share	8,633,219	$	0.47	8,611,840	$	0.48
Effect of dilutive securities - stock options	17,920	—		5,168	—
Diluted earnings per share	8,651,139	$	0.47	8,617,008	$	0.48

Outstanding stock options on common stock that were not included in computing diluted earnings per share for the three month periods ended March 31, 2017 and 2016 because their effects were anti-dilutive, averaged 1,320 and 35,026 shares, respectively.