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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2017
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 9: 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, 2017 and 2016:

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended 

 

 

 

March 31,

 

(In thousands except per share data)

    

2017

    

2016

 

Net income

 

$

3,611

 

$

3,490

 

Weighted average common shares outstanding

 

 

6,904

 

 

6,856

 

Dilutive effect of common stock equivalents

 

 

25

 

 

110

 

Weighted average common and common equivalent shares outstanding

 

 

6,929

 

 

6,966

 

Basic earnings per common share

 

$

0.52

 

$

0.51

 

Diluted earnings per common share

 

$

0.52

 

$

0.50

 

 

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 average warrants totaling 34,370 shares have been excluded from the calculation of diluted EPS for the three months ended March 31, 2016.