Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 7: EARNINGS PER SHARE

The following table presents reconciliations of the calculations of basic and diluted earnings per share for the three months ended March 31, 2014 and 2013:

(In thousands except per share data)	2014	2013
Net income	$        3,403	$        3,609
Weighted average common shares outstanding	6,320	6,287
Dilutive effect of common stock equivalents	22	12
Weighted average common and common equivalent
shares outstanding	6,342	6,299
Basic earnings per common share	$          0.54	$          0.57
Diluted earnings per common share	$          0.54	$          0.57

Basic earnings per common share were computed by dividing net income by the weighted average number of shares of common stock outstanding for the three months ended March 31, 2014 and 2013. The computation of diluted earnings per share excludes the effect of assuming the exercise of certain outstanding stock options because the effect would be anti-dilutive. There were no anti-dilutive options outstanding for the three months ended March 31, 2014 or 2013.