Stockholders' Equity and Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2017

Stockholders' Equity and Earnings Per Common Share [Abstract]

Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss), by Category

The following table presents information on amounts reclassified out of accumulated other comprehensive loss, by category, during the periods indicated:

	Three Months Ended September 30,						Nine Months Ended September 30,						Affected Line Item on Consolidated Statements of Income
	2017			2016			2017			2016
	(in thousands)
Available-for-sale securities
Realized gains on sales of securities		$	2		$	7		$	89		$	522	Gain on sale of available-for-sale securities, net
Tax effect			1			2			30			177	Income tax expense
		$	1		$	5		$	59		$	345

Other Comprehensive Income

The following table presents the changes in accumulated other comprehensive loss, by category, net of tax, for the periods indicated:

	Unrealized Gains (Losses) on Available-for-Sale Securities			Defined Benefit Pension Plans			Accumulated Other Comprehensive Loss
	(in thousands)
Nine Months Ended September 30, 2017
Balance at beginning of period	$	(1,739	)	$	(2,469	)	$	(4,208	)
Net change for the period		1,521			-			1,521
Balance at end of period	$	(218	)	$	(2,469	)	$	(2,687	)
Nine Months Ended September 30, 2016
Balance at beginning of period	$	(576	)	$	(2,586	)	$	(3,162	)
Net change for the period		1,877			-			1,877
Balance at end of period	$	1,301		$	(2,586	)	$	(1,285	)

Component of Other Comprehensive Income on a Pre-Tax and After-Tax

The following table presents the change in each component of accumulated other comprehensive loss on a pre-tax and after-tax basis for the periods indicated.

	Nine Months Ended September 30, 2017
	Pretax				Tax				Net-of-Tax
	(in thousands)
Unrealized gains on available-for-sale securities:
Unrealized holding gains arising during the period		$	2,394			$	814			$	1,580
Reclassification adjustment for gains recognized in income			(89	)			(30	)			(59	)
Total change in accumulated other comprehensive loss, net		$	2,305			$	784			$	1,521

	Nine Months Ended September 30, 2016
	Pretax				Tax				Net-of-Tax
	(in thousands)
Unrealized gains on available-for-sale securities:
Unrealized holding gains arising during the period		$	3,366			$	1,144			$	2,222
Reclassification adjustment for gains recognized in income			(522	)			(177	)			(345	)
Total change in accumulated other comprehensive loss, net		$	2,844			$	967			$	1,877

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

EARNINGS PER COMMON SHARE

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares outstanding during the period, including the effect of dilutive potential common shares attributable to outstanding stock options.

The following is a reconciliation of the denominators of the basic and diluted EPS computations for the three and nine months ended September 30, 2017 and 2016:

	Net Income Available to Common Shareholders (Numerator)		Weighted Average Common Shares (Denominator)		Per Share Amount
	(in thousands except per share data)
Three Months Ended September 30, 2017
Net income, basic	$	757		4,994	$	0.15
Potentially dilutive common shares - stock options		-		10		-
Potentially dilutive common shares - employee stock purchase program		-		-		-
Diluted	$	757		5,004	$	0.15
Three Months Ended September 30, 2016
Net income, basic	$	1,329		4,959	$	0.27
Potentially dilutive common shares - stock options		-		-		-
Potentially dilutive common shares - employee stock purchase program		-		-		-
Diluted	$	1,329		4,959	$	0.27
Nine Months Ended September 30, 2017
Net income, basic	$	2,860		4,985	$	0.57
Potentially dilutive common shares - stock options		-		12		-
Potentially dilutive common shares - employee stock purchase program		-		-		-
Diluted	$	2,860		4,997	$	0.57
Nine Months Ended September 30, 2016
Net income, basic	$	2,902		4,959	$	0.59
Potentially dilutive common shares - stock options		-		-		-
Potentially dilutive common shares - employee stock purchase program		-		-		-
Diluted	$	2,902		4,959	$	0.59

The Company had no antidilutive shares in the third quarter or first nine months of 2017. The Company did not include an average of 69 thousand potential common shares attributable to outstanding stock options in the diluted earnings per share calculation for both the three and nine months ended September 30, 2016. Non-vested restricted common shares, which carry all rights and privileges of a common share with respect to the stock, including the right to vote, were included in the basic and diluted per common share calculations.