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Earnings Per Share
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2014 and 2013:

 

 

 

 

 

 

 

 

 

 

 

 

Three Months

Six Months

 

 

Ended June 30,

 

Ended June 30,

(In thousands except per share data)

2014

2013

2014

2013

Net income

$
3,413 

$
4,025 

$
6,816 

$
7,634 

Weighted average common shares outstanding

 
6,325 

 
6,298 

 
6,323 

 
6,292 

Dilutive effect of common stock equivalents

 
19 

 
12 

 
20 

 
12 

Weighted average common and common equivalent

 

 

 

 

 

 

 

 

shares outstanding

 
6,344 

 
6,310 

 
6,343 

 
6,304 

Basic earnings per common share

$
0.54 

$
0.64 

$
1.08 

$
1.21 

Diluted earnings per common share

$
0.54 

$
0.64 

$
1.07 

$
1.21 

 

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 and six months ended June 30, 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 and six months ended June 30, 2014 or 2013.