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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2017
EARNINGS PER SHARE  
EARNINGS PER SHARE

3.EARNINGS PER SHARE

 

Diluted earnings per share, which reflects the potential dilution that could occur if stock awards were fully vested and resulted in the issuance of common stock that then shared in our earnings, is computed by dividing net income by the weighted average number of common shares outstanding and common stock equivalents, after giving effect for dilutive shares issued.

 

The following shows the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2017 and 2016 (dollars in thousands, except per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

    

2017

    

2016

    

2017

    

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Numerator):

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

2,093

 

$
1,778

 

$

5,499

 

$
2,785

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Denominator):

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

6,294,930

 

 
6,238,756

 

 

6,286,722

 

 
6,226,900

 

Effect of dilutive stock options, and vesting of restricted stock awards

 

 

23,558

 

 
20,999

 

 

24,144

 

 
33,525

 

Diluted weighted average shares outstanding

 

 

6,318,488

 

 

6,259,755

 

 

6,310,866

 

 

6,260,425

 

Income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.33

 

$

0.29

 

$

0.88

 

$

0.45

 

Diluted

 

$

0.33

 

$

0.28

 

$

0.87

 

$

0.45