| Basic and Diluted Earnings Per Share |
The following tables set forth the calculation of basic and diluted earnings per common share for the nine- and three-month periods ended September 30, 2016 and 2015:
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Nine months ended September 30,
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2016
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2015
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Average
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Per Share
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Average
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Per Share
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(in thousands, except for per share amount)
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Income
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Shares
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Amount
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Income
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Shares
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Amount
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Basic and Diluted Earnings Per Share:
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Net income
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$
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5,860
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$
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4,491
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Preferred stock dividends
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(1,575)
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(2,025)
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Net income available to common shareholders
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$
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4,285
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6,263
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$
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0.68
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$
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2,466
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6,247
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$
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0.39
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Three months ended September 30,
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2016
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2015
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Average
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Per Share
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Average
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Per Share
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(in thousands, except for per share amount)
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Income
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Shares
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Amount
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Income
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Shares
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Amount
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Basic and Diluted Earnings Per Share:
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Net income
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$
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2,285
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$
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1,948
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Preferred stock dividends
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(450)
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(675)
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Net income available to common shareholders
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$
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1,835
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6,269
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$
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0.29
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$
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1,273
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6,255
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$
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0.20
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