Earnings Per Share

6 Months Ended

Jun. 30, 2015

Note 4: Earnings Per Share

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share 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 Company, such as the Company's dilutive stock options and awards.

The following is a reconciliation of basic and diluted earnings per share for the three and six months ended June 30, 2015, and 2014:


		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2015		2014		2015		2014

Net income available to common shareholders	$	3,873	$	3,857	$	7,754	$	7,644

Weighted average common shares outstanding
Basic		5,973,758		5,921,025		5,963,704		5,916,387
Effect of dilutive employee stock options and awards		90,655		39,817		86,418		40,114
Diluted		6,064,413		5,960,842		6,050,122		5,956,501

Anti-dilutive options excluded from earnings per share calculation		10,950		93,093		11,197		97,482

Per Common Share Data:
Basic earnings per share	$	0.65	$	0.65	$	1.30	$	1.29
Diluted earnings per share	$	0.64	$	0.65	$	1.28	$	1.28

All share and per share amounts have been adjusted to reflect the effect of the 3-for-2 stock split (dividend) during May 2014.