Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share (Tables)

v3.4.0.3
Earnings per Share (Tables)
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
Earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding. A reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations for the three months ended March 31, 2016 and 2015 are as follows:
 
 
 
Three Months Ended
 
(Dollars in thousands, except per share data)
 
March 31,
 
 
 
2016
 
2015
 
Basic earnings per common share:
 
 
 
 
 
 
 
Net income as reported
 
$
2,244
 
$
1,927
 
Weighted average common shares outstanding
 
 
2,854,872
 
 
2,848,920
 
Basic earnings per common share
 
$
0.79
 
$
0.68
 
Diluted earnings per common share:
 
 
 
 
 
 
 
Net income as reported
 
$
2,244
 
$
1,927
 
Weighted average common shares outstanding
 
 
2,854,872
 
 
2,848,920
 
Add: Dilutive effect of assumed stock option exercises
 
 
750
 
 
-
 
Weighted average common and dilutive potential common shares outstanding
 
 
2,855,622
 
 
2,848,920
 
Diluted earnings per common share
 
$
0.79
 
$
0.68