Earnings Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share

NOTE C — EARNINGS PER SHARE

Earnings per share were computed as follows:

	(In thousands, except share data)
	Three Months Ended March 31,
	2015						2014
	Net Income		Weighted Average Shares		Per Share Amount		Net Income		Weighted Average Shares		Per Share Amount
Basic Earnings Per Share: Income available to common shareholders	$	502		3,021,163	$	0.17	$	729		2,990,752	$	0.24
Effect of dilutive stock options		—		15,269				—		3,823
Diluted Earnings Per Share: Income available to common shareholders and assumed conversions	$	502		3,036,432	$	0.17	$	729		2,994,575	$	0.24

All options to purchase common stock outstanding at March 31, 2015 were included in the computation of diluted earnings per share, because the option’s exercise price was less than the average market price of the common shares for the period presented.

Options to purchase 91,732 shares of common stock at exercise prices of $14.80 to $15.56 per share were outstanding at March 31, 2014, but were not included in the computation of diluted earnings per share because the options were anti-dilutive, in that the option’s exercise price was greater than the average market price of the common shares for the period presented.