EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2014

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 7 - EARNINGS PER SHARE

Earnings per common share (EPS) were computed as follows:

	March 31, 2014					March 31, 2013
For the three months ended:	Net Income		Weighted Average Shares	Per Share Amount		Net Income			Weighted Average Shares	Per Share Amount
Basic earnings per common share:
Net income	$	6,225	20,433,279			$	3,991		20,316,189
Redemption of preferred shares	—					—
Preferred dividends and accretion	—					(202		)
Net income available to common shareholders	$	6,225	20,433,279	$	0.30	$	3,789		20,316,189	$	0.19
Effect of dilutive warrants			65,989						—
Effect of dilutive stock options			65,665						62,465
Net income available to common shareholders and assumed conversions	$	6,225	20,564,933	$	0.30	$	3,789		20,378,654	$	0.19

Stock options for 229,954 common shares in 2014 and stock options for 257,516 common shares and stock warrants for 571,906 common shares in 2013 were not considered in computing diluted earnings per share because they were antidilutive.