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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2018
EARNINGS PER SHARE  
EARNINGS PER SHARE

5.EARNINGS PER SHARE

 

Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period.  Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock based compensation agreements.

 

The factors used in the earnings per share computation follow:

 

 

 

 

 

 

 

 

 

 

Nine Months Ended

 

 

September 30,

 

    

2018

    

2017

 

 

(in thousands)

Basic and Diluted Earnings Per Share

 

 

 

 

 

 

Net Income

 

$

9,494

 

$

8,139

Weighted average common shares outstanding

 

 

2,978

 

 

2,955

Basic and diluted earnings per share

 

$

3.19

 

$

2.74

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

September 30,

 

    

2018

    

2017

 

 

(in thousands)

Basic and Diluted Earnings Per Share

 

 

 

 

 

 

Net Income

 

$

3,278

 

$

2,592

Weighted average common shares outstanding

 

 

2,962

 

 

2,955

Basic and diluted earnings per share

 

$

1.10

 

$

0.87

 

 

 

 

 

 

 

 

Stock options for 0 shares of common stock for the nine months and three months ended September 30, 2018 and September 30, 2017 were excluded from diluted earnings per share because their impact was antidilutive.