Basic and Diluted Earnings Per Share

12 Months Ended

Dec. 31, 2013

Basic and Diluted Earnings Per Share

Basic and Diluted Earnings Per Share Text Block

NOTE 2: BASIC AND DILUTED EARNINGS PER SHARE

Basic net earnings per share is computed by dividing net earnings by the weighted average common shares outstanding for the year. Diluted net earnings per share reflect the potential dilution that could occur upon exercise of securities or other rights for, or convertible into, shares of the Company’s common stock. As of December 31, 2013, 2012, and 2011, respectively, the Company had no such securities or rights issued or outstanding, and therefore, no dilutive effect to consider for the diluted earnings per share calculation.

			Year ended December 31
(Dollars in thousands, except share and per share data)			2013		2012		2011
Basic and diluted:
Net earnings		$	7,118	$	6,763	$	5,538
Weighted average common shares outstanding			3,643,003		3,642,831		3,642,735
	Earnings per share	$	1.95	$	1.86	$	1.52