EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2016

Basic earnings per common share is determined by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding for the period. Employee Stock Ownership Plan (“ESOP”) shares are considered outstanding for this calculation unless unearned. Diluted earnings per common share is determined by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding for the period, adjusted for the dilutive effect of common share equivalents.

The factors used in the earnings per common share computation follow:



	Three Months Ended March 31,
	2016			2015
	(Dollars in thousands, except per share data)
Basic:
Net income	$	595		$	952

Weighted average common shares outstanding	5,579,678			5,627,687
Less: Average unallocated ESOP shares	(356,965		)	(379,449		)
Average shares	5,222,713			5,248,238

Basic earnings per common share	$	0.11		$	0.18

Diluted:
Net income	$	595		$	952

Weighted average common shares outstanding for basic earnings per common share	5,222,713			5,248,238
Add: Dilutive effects of assumed exercises of stock options	162,603			109,750
Average shares and dilutive potential common shares	5,385,316			5,357,988

Diluted earnings per common share	$	0.11		$	0.18

LaPorte Bancorp, Inc. 10-Q