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Common Equity And Earnings Per Share Data
9 Months Ended
Sep. 30, 2017
Common Equity And Earnings Per Share Data [Abstract]  
Common Equity And Earnings Per Share Data

5. COMMON EQUITY AND EARNINGS PER SHARE DATA



The common stock per share information is based upon the weighted average number of shares outstanding during each period.  For the three and nine month periods ended September 30, 2017, the Company had an average of 122,365 and 120,890 dilutive shares outstanding, respectively.  The Company had an average of 75,355 and 67,136 dilutive shares outstanding for the three and nine months periods ended September 30, 2016, respectively.



Potential common shares that would have the effect of increasing diluted earnings per share are considered to be anti-dilutive and not included in calculating diluted earnings per share. For the three month period ended September 30, 2017 there were no anti-dilutive shares outstanding. For the nine month period ended September 30, 2017, there was an average of 23,593 potentially anti-dilutive shares outstanding, that were not included in calculating diluted earnings per share because their effect was anti-dilutive.  For both the three and nine month periods ended September 30, 2016, there were no anti-dilutive shares outstanding.



The Company issued 440,000 shares of common stock at $35.00 per share (including shares issued upon partial exercise of the underwriters’ allotment option in connection with the offering) in a registered common stock offering in January 2017.  The offering netted $14 million in additional capital after expenses.