EARNINGS PER SHARE ("EPS")

6 Months Ended

Jun. 30, 2015

EARNINGS PER SHARE (“EPS”)

The following tables set forth the calculation of basic and diluted EPS for the six and three month periods ended June 30, 2015 and 2014.



	For the six months ended June 30,				For the three months ended June 30,
	2015		2014		2015		2014
	(amounts in thousands except share data)				(amounts in thousands except share data)
Basic earnings per common share
Net income available to common shareholders	$	4,421	$	4,211	$	2,223	$	2,186
Average common shares outstanding	6,022,768		5,990,309		6,034,613		5,991,859
Basic earnings per common share	$	0.73	$	0.70	$	0.37	$	0.36
Diluted earnings per common share
Net income available to common shareholders	$	4,421	$	4,211	$	2,223	$	2,186
Dividend on Preferred Series B	600		600		300		300
Average common shares outstanding	6,022,768		5,990,309		6,034,613		5,991,859
Dilutive potential common shares	1,921,579		1,932,892		1,927,107		1,938,659
Total diluted average common shares outstanding	7,944,347		7,923,201		7,961,720		7,930,518
Diluted earnings per common share	$	0.63	$	0.61	$	0.32	$	0.31

On June 23, 2015 the Company declared a quarterly cash dividend of $0.06 per share to shareholders of record as of July 15, 2015 and payable on July 30, 2015.