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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2016
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 10: 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, 2016 and 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended 

 

Six Months Ended 

 

 

 

June 30,

 

June 30,

 

(In thousands except per share data)

    

2016

    

2015

    

2016

    

2015

 

Net income

 

$
4,366

 

$
3,116

 

$
7,856

 

$
6,452

 

Weighted average common shares outstanding

 

 
6,866

 

 
6,331

 

 
6,861

 

 
6,330

 

Dilutive effect of common stock equivalents

 

 
21

 

 
15

 

 
21

 

 
14

 

Weighted average common and common equivalent shares outstanding

 

 
6,887

 

 
6,346

 

 
6,882

 

 
6,344

 

Basic earnings per common share

 

$
0.64

 

$
0.49

 

$
1.15

 

$
1.02

 

Diluted earnings per common share

 

$
0.63

 

$
0.49

 

$
1.14

 

$
1.02

 

 

Basic earnings per common share were computed by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share were computed by including potentially dilutive shares on the weighted average share count. Anti-dilutive warrants totaling 34,370 shares have been excluded from the calculation of diluted EPS for the three and six months ended June 30, 2016, respectively. There were no anti-dilutive shares excluded for the three or six months ended June 30, 2015.