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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of earnings per share

 

 

 

 

 

 

 

 

 

 

For the years ended

 

 

 

December 31,

 

(Dollars in thousands except shares and per share data)

    

2014

    

2013

 

 

 

 

 

 

 

 

 

Numerator for both basic and diluted earnings per share:

 

 

 

 

 

 

 

Net Income

 

$
2,079 

 

$
4,020 

 

Less: Dividends on preferred stock

 

 
332 

 

 
85 

 

Net income available to common shareholders

 

$
1,747 

 

$
3,935 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total average shares outstanding

 

 
7,905,468 

 

 
6,657,093 

 

Effect of dilutive stock options

 

 
196,649 

 

 
281,935 

 

 

 

 

 

 

 

 

 

Total diluted average shares outstanding

 

 
8,102,117 

 

 
6,939,028 

 

 

 

 

 

 

 

 

 

Earnings Per Share - Basic

 

$
0.22 

 

$
0.59 

 

Earnings Per Share - Diluted

 

$
0.22 

 

$
0.57