SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2015

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)	2015		2014		2013
Numerator for basic earnings per share:
Net Income	$	6,816	$	2,079	$	4,020
Less: Dividends on preferred stock		575		332		85
Net income available to common shareholders	$	6,241	$	1,747	$	3,935
Numerator for diluted earnings per share:
Net Income	$	6,816	$	2,079	$	4,020
Add: Interest on subordinated debt (tax effected)		1,389		—		—
Less: Dividends on preferred stock		575		332		85
Net income available to common shareholders	$	7,630	$	1,747	$	3,935
Denominator:
Total average shares outstanding		8,014,316		7,905,468		6,657,093
Effect of dilutive convertible subordinated debt		1,837,500		—		—
Effect of dilutive stock options		125,800		196,649		281,935
Total diluted average shares outstanding		9,977,616		8,102,117		6,939,028
Earnings Per Share - Basic	$	0.78	$	0.22	$	0.59
Earnings Per Share - Diluted	$	0.76	$	0.22	$	0.57