Earnings Per Share

3 Months Ended

Mar. 31, 2016

NOTE 5: EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed based on the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the treasury stock method and reflects the potential dilution that could occur from the exercise of stock options, and warrants and the amortized portion of unvested stock awards. Stock options and unvested stock awards for which the exercise or the grant price exceeds the average market price over the period have an anti-dilutive effect on EPS and, accordingly, are excluded from the calculation. Treasury shares are not deemed outstanding for calculations. There were no outstanding stock warrants, no anti-dilutive stock options outstanding, and no anti-dilutive stock awards outstanding at March 31, 2016. There were no anti-dilutive stock warrants outstanding, no anti-dilutive stock options outstanding, and no anti-dilutive stock awards outstanding at March 31, 2015. The following table sets forth the computation of basic and diluted earnings per share:



		Three Months Ended
		March 31, 2016
(In thousands, except per-share data)		Income	Shares		Amount
Basic EPS
Income available to common stockholders	$	1,556	2,833	$	0.55
Effect of potential dilutive common stock equivalents – stock options and restricted shares		-	36		(0.01)
Diluted EPS
Income available to common stockholders after assumed conversions	$	1,556	2,869	$	0.54



		Three Months Ended
		March 31, 2015
(In thousands, except per-share data)		Income	Shares		Amount
Basic EPS
Income available to common stockholders	$	1,226	2,786	$	0.44
Effect of potential dilutive common stock equivalents – stock options and restricted shares		-	47		(0.01)
Diluted EPS
Income available to common stockholders after assumed conversions	$	1,226	2,833	$	0.43