EARNINGS PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 2014

EARNINGS PER COMMON SHARE [Abstract]

Reconciliation of Numerators and Denominators of Basic and Diluted Earnings per Common Share

A reconciliation of the numerators and denominators of basic and diluted earnings per common share are as follows (dollars in thousands, except per share data):

	2014		2013			2012
Net income	$	10,473	$	9,549		$	35,490
Effect of induced exchange of preferred stock		---		(17,575	)		---
Net income available to common shares	$	10,473	$	(8,026	)	$	35,490
Weighted average shares outstanding, including participating stock awards - Basic		33,803,030		27,161,888			27,086,792
Dilutive potential common shares:
Stock options		---		---			---
Conversion of preferred stock		---		---			---
Stock warrants		---		---			---
Weighted average shares outstanding - Diluted		33,803,030		27,161,888			27,086,792
Basic earnings per common share	$	0.31	$	(0.29	)	$	1.31
Diluted earnings per common share	$	0.31	$	(0.29	)	$	1.31