Earnings Per Share

3 Months Ended

Mar. 31, 2015

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, 2015 and 2014:

(In thousands except per share data)	2015	2014
Net income	$        3,336	$        3,403
Weighted average common shares outstanding	6,329	6,320
Dilutive effect of common stock equivalents	13	22
Weighted average common and common equivalent
shares outstanding	6,342	6,342
Basic earnings per common share	$          0.53	$          0.54
Diluted earnings per common share	$          0.53	$          0.54

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, 2015 and 2014. The computation of diluted earnings per share includes the effect of assumed exercises of outstanding stock options. There were no anti-dilutive options outstanding for the three months ended March 31, 2015 or 2014.