Earnings Per Share

6 Months Ended

Jun. 30, 2015

NOTE C — EARNINGS PER SHARE

Earnings per share were computed as follows:


	(In thousands, except share data)
	Three Months Ended June 30,
	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	$	188		3,026,772	$	0.06	$	603		2,992,134	$	0.20

Effect of dilutive stock options		—		14,076				—		5,341

Diluted Earnings Per Share: Income available to common shareholders and assumed conversions	$	188		3,040,848	$	0.06	$	603		2,997,475	$	0.20


	(In thousands, except share data)
	Six Months Ended June 30,
	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	$	690		3,023,983	$	0.23	$	1,332		2,991,447	$	0.45

Effect of dilutive stock options		—		14,721				—		4,588

Diluted Earnings Per Share: Income available to common shareholders and assumed conversions	$	690		3,038,704	$	0.23	$	1,332		2,996,035	$	0.45

All options to purchase common stock outstanding at June 30, 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 15,232 shares of common stock at exercise prices of $15.35 to $15.56 per share were outstanding at June 30, 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.