Note 5 - Basic and Diluted Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 5 - BASIC AND DILUTED EARNINGS PER SHARE

(In thousands of dollars except per share data)	Three Months Ended March 31,
	2014		2013
Earnings per share
Net income	$	2,350	$	2,863
Preferred stock dividends and accretion of discount		0		209
Income available to common shareholders	$	2,350	$	2,654
Weighted average common shares outstanding (000)		8,086		8,016
Basic Earnings per Share	$	0.29	$	0.33
Earnings per share assuming dilution
Net income	$	2,350	$	2,863
Preferred stock dividends and accretion of discount		0		209
Income available to common shareholders	$	2,350	$	2,654
Weighted average common shares outstanding (000)		8,086		8,016
Add dilutive effect of assumed exercises of options		76		48
Weighted average common and dilutive potential common shares outstanding (000)		8,162		8,064
Diluted Earnings per Share	$	0.29	$	0.33

Stock options for 125,041 shares for the three months of 2014, were not considered in computing diluted earnings per share because they were anti-dilutive. Stock options for 219,880 shares for the three months of 2013, were not considered in computing diluted earnings per share because they were anti-dilutive.