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Earnings Per Share and Capital Transactions
 6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Earnings Per Share and Capital Transactions

6.) Earnings Per Share and Capital Transactions:

Earnings per share is computed by dividing net income available to common shareholders by the weighted average number of shares of common outstanding stock, net of any treasury shares, during the period. Diluted earnings per share is calculated by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding, net of any treasury shares, after consideration of the potential dilutive effect of common stock equivalents, based upon the treasury stock method using an average market price for the period. The common stock equivalents are comprised of the restricted share awards.

 

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30,

 

 

June 30,

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Net income (amounts in thousands)

$

3,302

 

 

$

1,182

 

 

$

4,839

 

 

$

2,182

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

4,369,792

 

 

 

4,411,102

 

 

 

4,381,540

 

 

 

4,408,886

 

Net effect of dilutive common share equivalents

 

4,010

 

 

 

3,051

 

 

 

6,128

 

 

 

3,757

 

Adjusted average shares outstanding-dilutive

 

4,373,802

 

 

 

4,414,153

 

 

 

4,387,668

 

 

 

4,412,643

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

$

0.75

 

 

$

0.26

 

 

$

1.10

 

 

$

0.49

 

Diluted earnings per share

$

0.75

 

 

$

0.26

 

 

$

1.10

 

 

$

0.49