Basic and Diluted Earnings Per Share

12 Months Ended

Dec. 31, 2014

Basic and Diluted Earnings Per Share

Basic and Diluted Earnings Per Share Text Block

NOTE 2: BASIC AND DILUTED EARNINGS PER SHARE

Basic net earnings per share is computed by dividing net earnings by the weighted average common shares outstanding for the year. Diluted net earnings per share reflect the potential dilution that could occur upon exercise of securities or other rights for, or convertible into, shares of the Company’s common stock. As of December 31, 2014, 2013, and 2012, respectively, the Company had no such securities or other rights issued or outstanding, and therefore, no dilutive effect to consider for the diluted earnings per share calculation.

			Year ended December 31
(Dollars in thousands, except share and per share data)			2014		2013		2012
Basic and diluted:
Net earnings		$	7,448	$	7,118	$	6,763
Weighted average common shares outstanding			3,643,278		3,643,003		3,642,831
	Earnings per share	$	2.04	$	1.95	$	1.86