Net Income per Share

6 Months Ended

Jun. 30, 2016

Basic net income per common share is calculated as net income divided by the weighted average common shares outstanding during the reporting period.

Diluted net income per common share is computed similarly to that of basic net income per common share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if all potentially dilutive common shares, principally stock options, were issued during the reporting period utilizing the Treasury stock method.

The following is a reconciliation of the calculation of basic and diluted income per share:



	For the three months ended June 30,				For the six months ended June 30,
(In thousands, except per share amounts)	2016		2015		2016		2015
Net income	$	2,824	$	2,428	$	7,029	$	4,367
Weighted average common shares outstanding - Basic	8,471		8,425		8,465		8,421
Plus: Potential dilutive common stock equivalents	137		99		132		98
Weighted average common shares outstanding - Diluted	8,608		8,524		8,597		8,519
Net income per common share - Basic	$	0.33	$	0.29	$	0.83	$	0.52
Net income per common share - Diluted	0.33		0.28		0.82		0.51
Stock options and common stock excluded from the income per share calculation as their effect would have been anti-dilutive	153		141		170		127