OUTSTANDING SHARES AND EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2016

OUTSTANDING SHARES AND EARNINGS PER SHARE [Abstract]

Reconciliation of Basic and Diluted EPS

The following table presents a reconciliation of basic and diluted EPS for the three months ended March 31, 2016 and 2015 (dollars in thousands except per share amounts):

	Three months ended March 31,
	2016		2015
Basic earnings per share:
Net income	$	1,731	$	1,517
Preferred stock dividend	$	—	$	(32	)
Net income available to common stockholders	$	1,731	$	1,485
Weighted average common shares outstanding		10,589,190		10,542,500
Basic EPS	$	0.16	$	0.14
Diluted earnings per share:
Net income	$	1,731	$	1,517
Preferred stock dividend	$	—	$	(32	)
Net income available to common stockholders	$	1,731	$	1,485
Weighted average common shares outstanding		10,589,190		10,542,500
Effect of dilutive shares		67,134		64,060
Adjusted weighted average common shares outstanding		10,656,324		10,606,560
Diluted EPS	$	0.16	$	0.14