Earnings Per Share and Capital Transactions (Tables)

3 Months Ended

Mar. 31, 2019

Computation of Basic Earnings Per Common Share

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
	March 31,
	2019		2018
Net income (amounts in thousands)	$	2,105	$	1,537

Weighted average common shares outstanding		4,326,734		4,393,449
Net effect of dilutive common share equivalents		9,507		8,327
Adjusted average shares outstanding-dilutive		4,336,241		4,401,776

Basic earnings per share	$	0.49	$	0.35
Diluted earnings per share	$	0.49	$	0.35