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Earnings Per Share
 6 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 8: 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, 2015 and 2014:

 

 

 

 

 

 

 

 

 

 

 

 

Three Months

Six Months

 

Ended June 30,

Ended June 30,

(In thousands except per share data)

2015

2014

2015

2014

Net income

$
3,116 

$
3,413 

$
6,452 

$
6,816 

Weighted average common shares outstanding

 
6,331 

 
6,325 

 
6,330 

 
6,323 

Dilutive effect of common stock equivalents

 
15 

 
19 

 
14 

 
20 

Weighted average common and common equivalent

 

 

 

 

 

 

 

 

shares outstanding

 
6,346 

 
6,344 

 
6,344 

 
6,343 

Basic earnings per common share

$
0.49 

$
0.54 

$
1.02 

$
1.08 

Diluted earnings per common share

$
0.49 

$
0.54 

$
1.02 

$
1.07 

 

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, 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 or six months ended June 30, 2015 or 2014.