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Earnings Per Common Share
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share



NOTE 8: EARNINGS PER SHARE 



Earnings per common share is computed using the two-class method prescribed by ASC 260, Earnings Per Share.  Using the two-class method, basic earnings per common share is computed based upon net income divided by the weighted average number of common shares outstanding during each period, which excludes outstanding unvested restricted stock.  Diluted earnings per share is computed using the weighted average number of common shares determined for the basic earnings per common share computation plus the dilutive effect of stock compensation using the treasury stock method. 

 

The following table shows the computation of basic and diluted earnings per common share: 





 

 

 

 

 



 

 

 

 

 



For the three months



ended March 31,

(Dollars in thousands, except earnings per share data)

2016

 

2015

Numerator:

 

 

 

 

 

Net income

$

 1,869 

 

$

 4,535 

Earnings allocated to participating securities

 

 (26)

 

 

 (70)

Numerator for earnings per common share

$

 1,843 

 

$

 4,465 



 

 

 

 

 

Denominator:

 

 

 

 

 

Denominator for basic earnings per common share

 

 19,257,445 

 

 

 18,760,648 

Dilutive effect of stock compensation

 

 10,028 

 

 

 173,527 

Denominator for diluted earnings per common share

 

 19,267,473 

 

 

 18,934,175 

Earnings per common share:

 

 

 

 

 

Basic

$

 0.10 

 

$

 0.24 

Diluted

$

 0.10 

 

$

 0.24