Earnings Per Common Share

3 Months Ended

Mar. 31, 2014

Earnings Per Common Share [Abstract]

Earnings Per Common Share

6.    Earnings Per Common Share

	Three Months Ended
	March 31,
	2014		2013
Net income applicable to common stock	$	3,138	$	4,712
Convertible preferred stock dividends		-		1,095
Net income applicable to common stock for calculation of diluted earnings per share	$	3,138	$	5,807
Weighted average shares outstanding (1)		22,888		9,266
Restricted stock units		304		361
Effect of stock options		124		61
Stock units for deferred compensation plan for non-employee directors		120		117
Effect of convertible preferred stock		-		12,026
Weighted average shares outstanding for calculation of diluted earnings per share		23,436		21,831
Net income per common share
Basic (1)	$	0.14	$	0.51
Diluted	$	0.13	$	0.27

(1)Basic net income per common share includes weighted average common shares outstanding during the period and participating share awards.

Weighted average stock options outstanding that were not included in weighted average shares outstanding for calculation of diluted earnings per share because they were anti-dilutive totaled 0.03 million and 0.04 million for the three-month periods ended March 31, 2014 and 2013, respectively.The warrant to purchase 346,154 shares of our common stock (see Note #15) was not included in weighted average shares outstanding for calculation of diluted earnings per share in 2013 as it was anti-dilutive.