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Earnings Per Common Share
 6 Months Ended
Jun. 30, 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

 

For the six months



ended June 30,

 

ended June 30,

(Dollars in thousands, except earnings per share data)

2016

 

2015

 

2016

 

2015

Numerator:

 

 

 

 

 

 

 

 

 

 

 

Net income

$

 5,412 

 

$

 4,161 

 

$

 7,281 

 

$

 8,696 

Earnings allocated to participating securities

 

 (110)

 

 

 (73)

 

 

 (131)

 

 

 (143)

Numerator for earnings per common share

$

 5,302 

 

$

 4,088 

 

$

 7,150 

 

$

 8,553 



 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per common share

 

 18,574,300 

 

 

 18,666,853 

 

 

 18,916,686 

 

 

 18,714,088 

Dilutive effect of stock compensation

 

 102,261 

 

 

 197,124 

 

 

 18,918 

 

 

 172,332 

Denominator for diluted earnings per common share

 

 18,676,561 

 

 

 18,863,977 

 

 

 18,935,604 

 

 

 18,886,420 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

Basic

$

 0.29 

 

$

 0.22 

 

$

 0.38 

 

$

 0.46 

Diluted

$

 0.28 

 

$

 0.22 

 

$

 0.38 

 

$

 0.46