| Schedule of Earnings Per Share, Basic and Diluted |
Basic earnings per share (“EPS”) has been computed by dividing net income by the weighted average number of shares of common stock outstanding during each period. Shares issued during the period are weighted for the portion of the period that they were outstanding. Our calculation of diluted earnings per common share includes the dilutive effects for an assumed vesting of restricted stock awards.
| |
|
Three months |
|
Six months |
| |
|
ended June 30, |
|
ended June 30, |
| |
|
2016 |
|
2015 |
|
2016 |
|
2015 |
Basic weighted average common shares outstanding |
|
5,399,342 |
|
5,374,863 |
|
5,394,345 |
|
5,372,293 |
Effect of dilutive shares |
|
13,903 |
|
15,958 |
|
13,908 |
|
13,255 |
Diluted weighted average common shares outstanding |
|
5,413,245 |
|
5,390,821 |
|
5,408,253 |
|
5,385,548 |
|
| Pro forma Earnings Per Share |
Pro forma earnings per share is as follows, giving retroactive effect to the stock split:
| |
|
Three months |
|
|
Six months |
|
| |
|
ended June 30, |
|
|
ended June 30, |
|
| |
|
2016 |
|
|
2015 |
|
|
2016 |
|
|
2015 |
|
Earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic – as reported |
|
$ |
1.11 |
|
|
$ |
1.02 |
|
|
$ |
2.32 |
|
|
$ |
1.99 |
|
Basic – pro forma |
|
$ |
0.55 |
|
|
$ |
0.51 |
|
|
$ |
1.16 |
|
|
$ |
1.00 |
|
Diluted – as reported |
|
$ |
1.10 |
|
|
$ |
1.02 |
|
|
$ |
2.32 |
|
|
$ |
1.99 |
|
Diluted – pro forma |
|
$ |
0.55 |
|
|
$ |
0.51 |
|
|
$ |
1.16 |
|
|
$ |
0.99 |
|
Weighted average common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic – as reported |
|
|
5,399,342 |
|
|
|
5,374,863 |
|
|
|
5,394,345 |
|
|
|
5,372,293 |
|
Basic – pro forma |
|
|
10,798,684 |
|
|
|
10,749,726 |
|
|
|
10,788,691 |
|
|
|
10,744,586 |
|
Diluted – as reported |
|
|
5,413,245 |
|
|
|
5,390,821 |
|
|
|
5,408,253 |
|
|
|
5,385,548 |
|
Diluted – pro forma |
|
|
10,826,490 |
|
|
|
10,781,642 |
|
|
|
10,816,507 |
|
|
|
10,771,096 |
|
|