Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

v3.7.0.1
Earnings per Share
 3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Note 8 - Earnings per Share
 
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, 2017 and 2016 are as follows:
 
 
 
Three Months Ended
 
(Dollars in thousands, except per share data)
 
March 31,
 
 
 
2017
 
 
2016
 
Basic earnings per common share:
 
 
 
 
 
 
 
 
Net income as reported
 
$
2,298
 
 
$
2,244
 
Weighted average common shares outstanding
 
 
2,863,156
 
 
 
2,854,872
 
Basic earnings per common share
 
$
0.80
 
 
$
0.79
 
Diluted earnings per common share:
 
 
 
 
 
 
 
 
Net income as reported
 
$
2,298
 
 
$
2,244
 
Weighted average common shares outstanding
 
 
2,863,156
 
 
 
2,854,872
 
Add:  Dilutive effect of assumed stock option exercises
 
 
139
 
 
 
750
 
Weighted average common and dilutive potential common shares outstanding
 
 
2,863,295
 
 
 
2,855,622
 
Diluted earnings per common share
 
$
0.80
 
 
$
0.79