Earnings per share

3 Months Ended

Mar. 31, 2017

Earnings per share

Earnings per share

3. Earnings per share:

Basic earnings per share represent income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate solely to outstanding stock options, and are determined using the treasury stock method.

There were no shares considered anti-dilutive for the three month periods ended March 31, 2017 and 2016.

	2017				2016
For the Three Months Ended March 31	Basic		Diluted		Basic		Diluted
Net Income	$	4,800	$	4,800	$	4,882	$	4,882
Average common shares outstanding		7,394,143		7,394,143		7,403,510		7,403,510
Earnings per share	$	0.65	$	0.65	$	0.66	$	0.66