Earnings Per Share

3 Months Ended

Mar. 31, 2018

The computation of basic earnings per share is based on the weighted average number of common shares outstanding during the period, adjusted for stock splits. 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 months ended March 31, 2018 and 2017:



	Three Months Ended March 31,
	2018		2017
	(Dollars in Thousands Except Share and Per Share Amounts)
Basic EPS Computation:
Numerator – Earnings available to common stockholders	$	7,480	$	6,495
Denominator – Weighted average number of common shares outstanding	10,507,273		10,360,776
Basic earnings per common share	$	0.71	$	0.63
Diluted EPS Computation:
Numerator – Earnings available to common stockholders	$	7,480	$	6,495
Denominator – Weighted average number of common shares outstanding	10,507,273		10,360,776
Dilutive effect of stock options	5,803		4,941
Weighted average diluted common shares outstanding	10,513,076		10,365,717
Diluted earnings per common share	$	0.71	$	0.63