Earnings Per Common Share

12 Months Ended

Dec. 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.



	Years Ended December 31,
	2017			2016			2015
	Shares	Per Share Amount		Shares	Per Share Amount		Shares	Per Share Amount
Basic earnings per share	8,641,717	$	1.76	8,611,507	$	1.89	8,680,502	$	1.73
Effect of dilutive securities - stock options	18,911	—		9,734	—		7,948	—
Diluted earnings per share	8,660,628	$	1.76	8,621,241	$	1.89	8,688,450	$	1.73

Outstanding stock options on common stock which were not included in computing diluted earnings per share in 2017, 2016, and 2015 because their effects were anti-dilutive, averaged 330 shares, 11,397 shares, and 66,238 shares, respectively.