Earnings Per Common Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

EARNINGS PER COMMON SHARE

2. EARNINGS PER COMMON SHARE

Basic earnings per common share are calculated using the two-class method. The two-class method provides that unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and shall be included in the computation of basic earnings per share.

Diluted earnings per common share is computed using the weighted-average number of shares determined for the basic earnings per common share computation plus the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock using the treasury stock method. Outstanding stock options issued by the Company represent the only dilutive effect reflected in diluted weighted average shares.

The following table illustrates the computation of basic and diluted earnings per share:

	Three Months Ended  September 30,								Nine Months Ended  September 30,
	2014				2013				2014				2013
	Amount		Per Share Amount		Amount		Per Share Amount		Amount		Per Share Amount		Amount		Per Share Amount
	(Amounts in thousands, except per share amounts)
Net income	$	4,533			$	3,561			$	12,695			$	9,546
Basic:
Weighted average shares outstanding		22,714	$	0.20		20,748	$	0.17		21,430	$	0.59		20,748	$	0.46
Diluted:
Add incremental shares for:
Effect of dilutive securities - options		388				88				298				66
Total		23,102	$	0.20		20,836	$	0.17		21,728	$	0.58		20,814	$	0.46