Earnings per Common Share

9 Months Ended

Sep. 30, 2014

Earnings per Common Share [Abstract]

Earnings per Common Share

(10)         Earnings per Common Share

Earnings per share are computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during each of the years presented.  The following data show the amounts used in computing basic and diluted earnings per share.  As shown in the table that follows, diluted earnings per share is computed using weighted average common shares outstanding, plus weighted average common shares available from the exercise of all dilutive stock warrants issued to the U.S. Treasury under the provisions of the Capital Purchase Program, based on the average share price of Mid Penn’s common stock during the period.

The computations of basic earnings per common share follow:

(Dollars in thousands, except per share data)	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Net Income	$	1,595	$	1,488	$	4,813	$	3,539
Less:  Accretion of Series A preferred stock discount		-		-		-		14
Dividends on Series B preferred stock		88		88		263		222
Net income available to common shareholders	$	1,507	$	1,400	$	4,550	$	3,303
Weighted average common shares outstanding		3,496,063		3,492,228		3,495,293		3,491,651
Basic earnings per common share	$	0.43	$	0.40	$	1.30	$	0.95

Mid Penn did not have dilutive securities outstanding during the periods ended September 30, 2014 and 2013.