Earnings Per Share

3 Months Ended

Mar. 31, 2016

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 months ended March 31, 2016, and 2015:


		Three Months Ended
		March 31,
		2016		2015

Net income	$	4,406	$	3,881

Weighted average common shares outstanding
Basic		6,009,198		5,953,538
Effect of dilutive employee stock options		71,826		79,719
Diluted		6,081,024		6,033,257

Anti-dilutive options excluded from earnings per share calculation		93,508		10,500

Per Common Share Data:
Basic earnings per share	$	0.73	$	0.65
Diluted earnings per share	$	0.72	$	0.64