Earnings Per Share

9 Months Ended

Sep. 30, 2015

The computation of basic earnings per share is based on the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share for the Company begins with the basic earnings per share plus the effect of common shares contingently issuable from stock options.

The following is a summary of components comprising basic and diluted earnings per share (“EPS”) for the three and nine months ended September 30, 2015 and 2014:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
	(Dollars in Thousands Except Per Share Amounts)				(Dollars in Thousands Except Per Share Amounts)
Basic EPS Computation:
Numerator – Earnings available to common stockholders	$	6,088	$	5,351	$	17,905	$	14,677
Denominator – Weighted average number of common shares outstanding	7,637,448		7,559,136		7,615,096		7,538,860
Basic earnings per common share	$	0.80	$	0.71	$	2.35	$	1.95
Diluted EPS Computation:
Numerator – Earnings available to common stockholders	$	6,088	$	5,351	$	17,905	$	14,677
Denominator – Weighted average number of common shares outstanding	7,637,448		7,559,136		7,615,096		7,538,860
Dilutive effect of stock options	3,348		4,218		3,434		4,350
	7,640,796		7,563,354		7,618,530		7,543,210
Diluted earnings per common share	$	0.80	$	0.71	$	2.35	$	1.95