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Earnings Per Common Share
 9 Months Ended
Sep. 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 nine months



ended September 30,

 

ended September 30,

(Dollars in thousands, except earnings per share data)

2016

 

2015

 

2016

 

2015

Numerator:

 

 

 

 

 

 

 

 

 

 

 

Net income

$

 4,255 

 

$

 4,122 

 

$

 11,536 

 

$

 12,818 

Earnings allocated to participating securities

 

 (82)

 

 

 (71)

 

 

 (208)

 

 

 (213)

Numerator for earnings per common share

$

 4,173 

 

$

 4,051 

 

$

 11,328 

 

$

 12,605 



 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per common share

 

 18,288,927 

 

 

 18,670,407 

 

 

 18,716,697 

 

 

 18,701,971 

Dilutive effect of stock compensation

 

 256,687 

 

 

 176,154 

 

 

 195,090 

 

 

 161,553 

Denominator for diluted earnings per common share

 

 18,545,614 

 

 

 18,846,561 

 

 

 18,911,787 

 

 

 18,863,524 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

Basic

$

 0.23 

 

$

 0.22 

 

$

 0.61 

 

$

 0.67 

Diluted

$

 0.23 

 

$

 0.22 

 

$

 0.60 

 

$

 0.67