PER SHARE DATA
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
PER SHARE DATA
PER SHARE DATA

There are no convertible securities which would affect the denominator in calculating basic and dilutive earnings per share; therefore, net income as presented on the consolidated statement of income will be used as the numerator.  The following table sets forth the composition of the weighted average common shares (denominator) used in the basic and dilutive per share computation.
 
 
Year Ended December 31,
 
 
2016
 
2015
 
2014
Weighted average common shares issued
 
5,005,971

 
5,003,691

 
5,001,171

Average treasury stock shares
 
(270,514
)
 
(231,452
)
 
(185,022
)
Weighted average common shares used to calculate basic and diluted earnings per share
 
4,735,457

 
4,772,239

 
4,816,149



There were 38,750 stock options issued during the third quarter of 2015 with 26,500 outstanding at December 31, 2016. The outstanding stock options did not impact diluted earnings per share as the strike price of the options was greater than the market price. There were no stock options outstanding during 2014.