Earnings Per Share

3 Months Ended

Mar. 31, 2017

(9) Earnings Per Share

Basic earnings per share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding, net of any treasury shares, during the period. Diluted earnings per share is calculated by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding, net of any treasury shares, after consideration of the potential dilutive effect of common stock equivalents, based upon the treasury stock method using an average market price for the period.

Earnings Per Share Computation

	For the Three Months Ended March 31,
	2017		2016
Net income	$	1,430	$	826
Average common shares outstanding		18,986,015		18,739,739
Net effect of dilutive common stock equivalents		121,211		97,960
Adjusted average shares outstanding – dilutive		19,107,226		18,837,699
Basic income per share	$	0.08	$	0.04
Diluted income per share	$	0.07	$	0.04