EARNINGS PER SHARE ("EPS")

6 Months Ended

Jun. 30, 2015

EARNINGS PER SHARE (“EPS”)

Basic earnings per share (EPS) excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised, converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations.



	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2015		2014		2015		2014
Net income available to common shareholders (numerator, basic)	$	3,423,829	$	3,183,574	$	6,885,036	$	5,720,839
Weighted average shares outstanding - basic (denominator)	10,760,159		10,620,869		10,744,430		10,596,786
Income per common share—basic	$	0.32	$	0.30	$	0.64	$	0.54
Net income (numerator, diluted)	$	3,423,829	3,183,574		6,885,036		5,720,839
Weighted average shares—diluted (denominator)	10,771,660		10,660,217		10,766,776		10,636,968
Income per common share—diluted	$	0.32	$	0.30	$	0.64	$	0.54
Dilutive effect-average number of common shares	11,501		39,348		22,346		40,182

There were no options to purchase common stock excluded from the computation of earnings per common share for the three and six months ended June 30, 2015 or June 30, 2014.