Note 4 - Earnings Per Common Share -

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

4

– Earnings per Common Share –

Basic earnings per share (

“EPS”) represents income available to common shareholders divided by the weighted average number of common shares outstanding;

no

dilution for any potentially convertible shares is included in the calculation. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. The potential common shares that

may

be issued by the Company relate to outstanding stock warrants and stock options.

	For The Three Months				For The Six Months
	Ended June 30,				Ended June 30,
	2017		2016		2017		2016
	(Dollars in thousands, except per share data)
Numerator:
Net Income Available to Common Shares	$	2,052	$	841	$	4,028	$	2,245
Denominator:
Weighted Average Common Shares Outstanding		6,932,570		7,037,413		6,923,692		7,037,207
Dilutive Effect of Stock Options and Warrants		271,902		311,308		271,902		311,308
Weighted Average Dilutive Common Shares		7,204,472		7,348,721		7,195,594		7,348,515
Basic Earnings Per Common Share From Net Income Available to Common Shares	$	0.30	$	0.12	$	0.58	$	0.32
Diluted Earnings Per Common Share From Net Income Available to Common Shares	$	0.28	$	0.11	$	0.56	$	0.31