EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2016

Earnings per share for the years ended December 31 were calculated as follows (in thousands, except share and per share data):



	2016		2015	2014
Net income	$	12,482	11,474	9,869
Less allocation of earnings and dividends to participating securities	13		—	—
Net income allocated to common shareholders	12,469		11,474	9,869

Weighted average common shares outstanding, gross	9,958,300		9,704,965	9,297,019
Less average participating securities	10,243		—	—
Weighted average number of shares outstanding used in the calculation of basic earnings per common share	9,948,057		9,704,965	9,297,019
Add dilutive effect of:
Stock options	10,765		17,174	18,545
Stock warrants	17,548		89,328	90,782
Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share	9,976,370		9,811,467	9,406,346

Earnings per common share:
Basic	$	1.26	1.18	1.06
Diluted	1.25		1.17	1.05