EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2014

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 7 - EARNINGS PER SHARE

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

	June 30, 2014					June 30, 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	$	7,754	20,450,885			$	7,324		20,372,614
Preferred dividends and accretion	—					(203		)
Net income available to common shareholders	$	7,754	20,450,885	$	0.38	$	7,121		20,372,614	$	0.35
Effect of dilutive warrants			62,978						—
Effect of dilutive stock options			64,419						55,504
Net income available to common shareholders and assumed conversions	$	7,754	20,578,282	$	0.38	$	7,121		20,428,118	$	0.35

Stock options for 178,896 common shares in 2014 and stock options for 298,975 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.

	June 30, 2014					June 30, 2013
For the six 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	$	13,979	20,442,131			$	11,315		20,344,557
Preferred dividends and accretion	—					(405		)
Net income available to common shareholders	$	13,979	20,442,131	$	0.68	$	10,910		20,344,557	$	0.54
Effect of dilutive warrants			64,488						—
Effect of dilutive stock options			64,995						58,912
Net income available to common shareholders and assumed conversions	$	13,979	20,571,614	$	0.68	$	10,910		20,403,469	$	0.53

Stock options for 182,513 common shares in 2014 and stock options for 278,255 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.