Note 26 - Earnings Per Common Share

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 26. EARNINGS PER COMMON SHARE

The following table presents a computation of basic and diluted earnings per share for the years ended December 31, 2015, 2014 and 2013.

(Amounts in thousands, except per share information)
Earnings Per Share	2015		2014		2013
Numerators:
Net income	$	8,586	$	5,727	$	7,935
Less:
Preferred stock extinguishment costs		102		-		-
Preferred stock dividends		189		200		200
Net income available to common shareholders	$	8,295	$	5,527	$	7,735
Denominators:
Weighted average number of common shares outstanding - basic		13,331		13,475		14,940
Effect of potentially dilutive common shares (1)		34		45		24
Weighted average number of common shares outstanding - diluted		13,365		13,520		14,964
Earnings per common share:
Basic	$	0.62	$	0.41	$	0.52
Diluted	$	0.62	$	0.41	$	0.52
Anti-dilutive options not included in earnings per share calculation		161,376		104,200		115,837

(1) Represents the effects of the assumed exercise of stock options and vesting of non-participating restricted shares.

The Holding Company authorized, repurchased and subsequently retired 700,000 common shares under a plan announced in 2014 and 2,000,000 common shares under two separate plans announced in 2013. As such, the weighted average number of dilutive common shares outstanding decreased by 154,986, 1,443,826 and 1,404,165 during the years ended December 31, 2015, 2014 and 2013, respectively.