Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 10. EARNINGS PER SHARE (EPS)

The table below reconciles the numerator and denominator of EPS for the three months ended March 31, 2014 and 2013.

(in thousands, except per-share information)
			2014		2013
Basic and diluted EPS per common share:
Numerator for basic and diluted EPS per common share:
	Net income - Basic and diluted	$	3,595	$	400
Weighted average common shares:
	Common shares outstanding at the balance sheet date		8,612		3,342
	Effect of weighting		(3,518)		(1,338)
Weighted average shares-basic and diluted			5,094		2,004
Income per common share:
	Basic and diluted	$	0.71	$	0.20

On February 14, 2013, Orchid’s Board of Directors declared a stock dividend whereby 5.37 shares of common stock were issued for each share of common stock outstanding. The 827,555 shares distributed as the dividend were issued to Bimini on February 20, 2013, immediately prior to Orchid’s IPO. For the three months ended March 31, 2013, the 827,555 shares distributed as a stock dividend were treated as if outstanding for the entire period, as Bimini was the sole stockholder during the entire period prior to Orchid’s IPO.