Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2015

Reconciliation of Shares Outstanding for Basic and Diluted Earnings per Share

The following reconciles shares outstanding for basic and diluted earnings per share for the three and nine months ended September 30, 2015 and 2014 (in thousands):


	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014

Weighted average shares issued net of Treasury shares		17,146			17,132			16,954			17,261
Less: Unallocated ESOP shares		(374	)		(407	)		(382	)		(416	)
Unallocated incentive award shares and shares held by deferred compensation plan		(39	)		(102	)		(50	)		(97	)

Average basic shares outstanding		16,733			16,623			16,522			16,748
Add: Effect of dilutive securities:
Stock options		200			61			204			93
Shares held by deferred compensation plan		20			20			20			24

Average diluted shares outstanding		16,953			16,704			16,746			16,865