EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2015

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 7 - EARNINGS PER SHARE

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

	September 30, 2015					September 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	$	9,111	21,615,263	$	0.42	$	8,457	20,459,709	$	0.41
Effect of dilutive warrants			171,062					72,978
Effect of dilutive stock options			110,636					68,757
Net income available to common shareholders and assumed conversions	$	9,111	21,896,961	$	0.42	$	8,457	20,601,444	$	0.41

Stock options for 0 common shares in 2015 and stock options for 123,964 common shares in 2014 were not considered in computing diluted earnings per share because they were antidilutive.

	September 30, 2015					September 30, 2014
For the nine 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	$	26,434	21,658,088	$	1.22	$	22,436	20,448,054	$	1.10
Effect of dilutive warrants			152,171					67,184
Effect of dilutive stock options			103,053					66,102
Net income available to common shareholders and assumed conversions	$	26,434	21,913,312	$	1.21	$	22,436	20,581,340	$	1.09

Stock options for 10,210 common shares in 2015 and stock options for 176,211 common shares in 2014 were not considered in computing diluted earnings per share because they were antidilutive.