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Earnings Per Share
 6 Months Ended
Jun. 30, 2016
Earnings Per Share  
Earnings Per Share

(12)    Earnings Per Share

 

The table below presents the information used to compute basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30,

 

June 30,

 

(Dollars in thousands, except per share data)

 

2016

 

2015

 

2016

 

2015

 

Net income

 

$
4,037

 

$
3,837

 

$
7,821

 

$
7,363

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average number of shares used in:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

 
9,059,515

 

 
9,053,383

 

 
9,047,217

 

 
9,086,865

 

Dilutive common stock equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options and restricted stock units

 

 
285,747

 

 
254,605

 

 
276,215

 

 
227,911

 

Diluted earnings per share

 

 
9,345,262

 

 
9,307,988

 

 
9,323,432

 

 
9,314,776

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per common share, basic

 

$
0.45

 

$
0.42

 

$
0.86

 

$
0.81

 

Net income per common share, diluted

 

$
0.43

 

$
0.41

 

$
0.84

 

$
0.79

 

 

We have two forms of our outstanding common stock: common stock and unvested restricted stock awards.  Holders of unvested restricted stock awards receive nonforfeitable dividends at the same rate as common shareholders and they both share equally in undistributed earnings.  The computed basic and diluted earnings per share presented are substantially equivalent using both the two-class and the treasury stock methods of calculating earnings per share.