EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2016

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

8. EARNINGS PER SHARE

The following table presents a reconciliation of basic earnings per share and diluted earnings per share:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
	(in thousands, except per share amounts)
Net income	$	1,481	$	1,591	$	3,889	$	1,019
Less: dividends and accretion on preferred stock and discount on partial redemption		-		125		-		272
Net income available to common stockholders	$	1,481	$	1,466	$	3,889	$	747
Weighted average number of common shares outstanding - basic		8,096		8,203		8,128		8,204
Weighted average number of common shares outstanding - diluted		8,421		8,508		8,442		8,503
Earnings per share:
Basic	$	0.18	$	0.18	$	0.48	$	0.09
Diluted	$	0.18	$	0.17	$	0.46	$	0.09