OUTSTANDING SHARES AND EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2016 and 2015 (dollars in thousands except per share amounts):

	Three months ended September 30,					Nine months ended September 30,
	2016		2015			2016		2015
Basic earnings per share:
Net income	$	2,019	$	1,819		$	5,785	$	5,106
Preferred stock dividend	$	—	$	(32	)	$	—	$	(96	)
Net income available to common stockholders	$	2,019	$	1,787		$	5,785	$	5,010
Weighted average common shares outstanding		10,611,772		10,578,103			10,605,534		10,566,374
Basic EPS	$	0.19	$	0.17		$	0.55	$	0.47
Diluted earnings per share:
Net income	$	2,019	$	1,819		$	5,785	$	5,106
Preferred stock dividend	$	—	$	(32	)	$	—	$	(96	)
Net income available to common stockholders	$	2,019	$	1,787		$	5,785	$	5,010
Weighted average common shares outstanding		10,611,772		10,578,103			10,605,534		10,566,374
Effect of dilutive shares		69,834		59,317			68,196		58,552
Adjusted weighted average common shares outstanding		10,681,606		10,637,420			10,673,730		10,624,926
Diluted EPS	$	0.19	$	0.17		$	0.54	$	0.47