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Earnings Per Share and Capital Transactions (Tables)
9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Computation of Basic Earnings Per Common Share

The Company currently maintains a simple capital structure; therefore, there are no dilutive effects to earnings per share. The following table sets forth the computation of earnings per common share. Earnings per share is computed by dividing net income by the weighted average number of shares outstanding during the applicable period.

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

September 30,

 

 

September 30,

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

Net income (amounts in thousands)

$

955

 

 

$

617

 

 

$

3,326

 

 

$

2,246

 

Weighted average common shares outstanding

 

4,527,848

 

 

 

4,527,847

 

 

 

4,527,848

 

 

 

4,527,182

 

Earnings per share

$

0.21

 

 

$

0.14

 

 

$

0.73

 

 

$

0.50