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Earnings per Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings per Share

Note 2. Earnings per Share

The following reconciles shares outstanding for basic and diluted earnings per share for the three months ended March 31, 2014 and 2013 (in thousands):

 

     Three months ended  
     March 31,  
     2014     2013  

Weighted average shares issued net of Treasury shares

      17,397        17,832   

Less: Unallocated ESOP shares

      (425 )      (459 ) 

Unallocated incentive award shares and shares held by deferred compensation plan

      (88 )      (88 ) 
  

 

 

    

 

 

  

Average basic shares outstanding

      16,884        17,285   

Add: Effect of dilutive securities:

     

Stock options

      136        —     

Shares held by deferred compensation plan

      30        39   
  

 

 

    

 

 

  

Average diluted shares outstanding

      17,050        17,324   
  

 

 

    

 

 

  

For the three months ended March 31, 2014 and 2013, antidilutive stock options of 597,000 and 1,109,000, respectively, were excluded from earnings per share calculations.