Earnings Per Share

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Note 15: Earnings Per Share

Earnings per share (EPS) were computed as follows:

	Year Ended December 31, 2013
			Weighted-
	Net		Average	Per Share
	Income		Shares	Amount
	(In thousands)
Net income	$	2,612
Dividends on non-vested restricted stock		(51)
Net income allocated to stockholders		2,561
Basic earnings per share
Income available to common stockholders		—	4,808,820	$	0.53
Effect of dilutive securities
Restricted stock awards		––	62,358
Diluted earnings per share
Income available to common stockholders and     assumed conversions	$	2,561	4,871,179	$	0.53

Options to purchase 53,714 shares of common stock at an average exercise price of $10.34 per share were outstanding at December 31, 2013, but were not included in the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common shares.

 

	Year Ended December 31, 2012
			Weighted-
	Net		Average	Per Share
	Income		Shares	Amount
		(In thousands)
Net income	$	2,398
Dividends on non-vested restricted stock		(74)
Net income allocated to stockholders		2,324
Basic earnings per share
Income available to common stockholders		—	4,780,866	$	0.49
Effect of dilutive securities
Restricted stock awards		––	65,381
Diluted earnings per share
Income available to common stockholders     and assumed conversions	$	2,324	4,846,247	$	0.48

Options to purchase 53,714 shares of common stock at an average exercise price of $10.34 per share were outstanding at December 31, 2012, but were not included in the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common shares.