EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2017

Income Per Share

EARNINGS PER SHARE

NOTE 3 EARNINGS PER SHARE:

Basic earnings per share computations are based on the weighted average number of shares outstanding during each period. Dilutive earnings per share reflect the additional common shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may be issued related to outstanding common stock warrants are determined by the Treasury method. For the three and six months ended June 30, 2017 and 2016, potential common shares of 880,136 and 882,353, respectively, were anti-dilutive and were not included in the calculation. Basic and diluted net income per common share calculations follows:

(Amounts in Thousands, Except Share and Per Share Data)	For the three months  ended June 30,				For the six months  ended June 30,
	2017		2016		2017		2016
Net income	$	2,577	$	882	$	2,692	$	1,580
Weighted average shares outstanding		23,355,503		23,354,082		23,355,198		23,354,082
Dilutive shares for stock options and warrants		—		—		—		—
Weighted average dilutive shares outstanding		23,355,503		23,354,082		23,355,198		23,354,082
Basic and diluted income per share	$	0.11	$	0.04	$	0.12	$	0.07