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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
5.
EARNINGS PER SHARE
 
Basic net income per share is based upon the weighted average number of common shares outstanding, net of any treasury shares, while diluted net income per share is based upon the weighted average number of common shares outstanding, net of any treasury shares, after consideration of the potential dilutive effect of common stock equivalents, based upon the treasury stock method using an average market price for the period, and impact of unallocated Employee Stock Ownership Plan (“ESOP”) shares.
 
The calculated basic and dilutive EPS are as follows:
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
 
2016
 
2015
 
2016
 
2015
 
 
 
(Dollars in thousands, except per share data)
 
Numerator – Net Income
 
$
1,776
 
$
1,739
 
$
3,532
 
$
3,452
 
Denominators:
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic average shares outstanding
 
 
6,140,839
 
 
5,920,475
 
 
6,134,000
 
 
5,952,732
 
Effect of dilutive common stock equivalents
 
 
108,714
 
 
115,532
 
 
108,418
 
 
110,134
 
Diluted average shares outstanding
 
 
6,249,553
 
 
6,036,007
 
 
6,242,418
 
 
6,062,866
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
$
0.29
 
$
0.29
 
$
0.58
 
$
0.58
 
Diluted
 
$
0.28
 
$
0.29
 
$
0.57
 
$
0.57
 
 
At June 30, 2016 and 2015, there were 278,896 and 469,360 outstanding anti-dilutive options, respectively, and 25,620 and 53,960 outstanding dilutive non-vested shares, respectively.