EARNINGS PER COMMON SHARE

6 Months Ended

Jun. 30, 2016

NOTE 7 - EARNINGS PER SHARE

Earnings per common share (EPS) were computed as follows:


	2016					2015
	Net		Average	Share		Net		Average	Share
Three Months Ended June 30,	Income		Shares	Amount		Income		Shares	Amount
Basic Earnings Per Common Share
Net income	$	6,117	22,723,781	$	0.27	$	9,660	21,668,171	$	0.45
Effect of dilutive warrants			179,602					151,965
Effect of dilutive stock options			104,409					102,157
Diluted Earnings Per Common Share
Net income attributable to common shareholders and assumed conversions	$	6,117	23,007,792	$	0.27	$	9,660	21,922,293	$	0.44

Stock options for 3,400 common shares in 2015 were not considered in computing diluted earnings per share because they were antidilutive. There were no antidilutive options in June 2016


	2016					2015
	Net		Average	Share		Net		Average	Share
Six Months Ended June 30,	Income		Shares	Amount		Income		Shares	Amount
Basic Earnings Per Common Share
Net income	$	14,883	22,165,535	$	0.67	$	17,323	21,679,856	$	0.80
Effect of dilutive warrants			171,132					141,609
Effect of dilutive stock options			104,475					98,677
Diluted Earnings Per Common Share
Net income attributable to common shareholders and assumed conversions	$	14,883	22,441,142	$	0.66	$	17,323	21,920,142	$	0.79

Stock options for 14,671 common shares in 2015 were not considered in computing diluted earnings per share because they were antidilutive. There were no antidilutive options in June 2016.