Earnings Per Share ("EPS")

12 Months Ended

Dec. 31, 2014

Earnings Per Share ("EPS") [Abstract]

Earnings Per Share ("EPS")

NOTE 3 - EARNINGS PER SHARE

As of December 31, 2014 and 2013, there were 87,435 and 184,201 options, respectively, which were excluded from the calculation as their effect would be anti-dilutive, because the exercise price of the options were greater than the average market price of the common shares.

	Years Ended December 31,
(dollars in thousands)	2014	2013
Net Income	$             6,490	$             6,651
Less: dividends paid and accrued on preferred stock	(200)	(200)
Net income available to common shareholders	$             6,290	$             6,451
Average number of common shares outstanding	4,646,424	3,402,432
Effect of dilutive options	8,703	24,361
Average number of shares used to calculate diluted EPS	4,655,127	3,426,793