EARNING PER COMMON SHARE

3 Months Ended

Mar. 31, 2015

EARNING PER COMMON SHARE [Abstract]

EARNING PER COMMON SHARE

NOTE 2EARNING PER COMMON SHARE (shares in thousands)

Basic earnings per share is net income divided by the weighted average number of common shares outstanding during the period.  Issuable shares, including those related to directors' restricted stock units and directors' stock compensation, are considered outstanding and are included in the computation of basic earnings per share.  All outstanding unvested share based payment awards that contain rights to non-forfeitable dividends are considered participating securities for this calculation.  Restricted stock awards are grants of participating securities and are considered outstanding at grant date.    Earnings per share information is adjusted to present comparative results for stock splits and stock dividends that occur.  Earnings per share were computed by dividing net income by 4,707 and 4,677weighted average shares outstanding for the three-month periods ended March 31, 2015 and 2014, respectively.  There were no dilutive common stock equivalents during the three-month periods ended March 31, 2015 or 2014.