Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

Basic and diluted net income per common share calculations for the years ended December 31 are as follows (in thousands, except share and per share amounts):

	2015		2014
Basic
Net income	$	11,744	$	372
Less: undistributed earnings allocated to unvested restricted shares		(129)		-
Net earnings allocated to common shareholders	$	11,615	$	372
Weighted average common shares outstanding including shares considered participating securities		7,272,061		7,193,372
Less: average participating securities		(79,709)		-
Weighted average shares		7,192,352		7,193,372
Basic earnings per common share	$	1.61	$	0.05
Diluted
Net earnings allocated to common shareholders	$	11,615	$	372
Weighted average common shares outstanding for basic earnings per common share		7,192,352		7,193,372
Dilutive effect of assumed exercise of average participating securities		16,289		39,016
Average participating securities		79,709		-
Average common shares outstanding – diluted		7,288,350		7,232,388
Diluted per common share	$	1.61	$	0.05

Schedule of Weighted Average Number of Shares [Table Text Block]

The computation of earnings per share is based upon the following weighted-average shares outstanding for the years ended December 31:

	2015		2014
Weighted-average common shares outstanding (basic)		7,272,061		7,193,372
Dilutive effect of assumed exercise of stock options		16,289		39,016
Weighted-average common shares outstanding (diluted)		7,288,350		7,232,388