Note 9 - 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, 2018 and 2017 are as follows:

 

		Three Months Ended
(Dollars in thousands, except per share data)		March 31,
		2018			2017
Basic earnings per common share:
Net income as reported		$	2,561		$	2,298
Weighted average common shares outstanding			2,867,413			2,863,156
Basic earnings per common share		$	0.89		$	0.80
Diluted earnings per common share:
Net income as reported		$	2,561		$	2,298
Weighted average common shares outstanding			2,867,413			2,863,156
Add: Dilutive effect of assumed stock option exercises			-			139
Weighted average common and dilutive potential common shares outstanding			2,867,413			2,863,295
Diluted earnings per common share		$	0.89		$	0.80