EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2015

NOTE 7 - EARNINGS PER SHARE

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

	June 30, 2015					June 30, 2014
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 available to common shareholders	$	9,660	21,668,171	$	0.45	$	7,754	20,450,885	$	0.38
Effect of dilutive warrants			151,965					62,978
Effect of dilutive stock options			102,157					64,419

Net income available to common shareholders and assumed conversions	$	9,660	21,922,293	$	0.44	$	7,754	20,578,282	$	0.38

Stock options for 3,400 common shares in 2015 and stock options for 178,896 common shares in 2014 were not considered in computing diluted earnings per share because they were antidilutive.

	June 30, 2015					June 30, 2014
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 available to common shareholders	$	17,323	21,679,856	$	0.80	$	13,979	20,442,131	$	0.68
Effect of dilutive warrants			141,609					64,488
Effect of dilutive stock options			98,677					64,995

Net income available to common shareholders and assumed conversions	$	17,323	21,920,142	$	0.79	$	13,979	20,571,614	$	0.68

Stock options for 14,671 common shares in 2014 and stock options for 182,513 common shares in 2014 were not considered in computing diluted earnings per share because they were antidilutive.