EARNING PER COMMON SHARE

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

EARNING PER COMMON SHARE

EARNING 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 4,760 and 4,717weighted average shares outstanding for the three month periods ended June 30, 2016 and 2015, respectively.  Earnings per share were computed by dividing net income by 4,754 and 4,712 weighted average shares outstanding for the six month periods ended June 30, 2016 and 2015, respectively. There were no dilutive common stock equivalents during the three and six month periods ended June 30, 2016 or 2015.