BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE C — BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE

For each three month period ended September 30, 2015 and 2014, options to purchase 282,000 shares and 496,000 shares, respectively, were antidilutive and accordingly were excluded in determining diluted earnings per share.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands, except per share data)	2015		2014		2015		2014
Basic:
Net income available to common shareholders	$	4,441	$	2,996	$	16,105	$	7,213
Average basic shares outstanding		33,907,178		25,887,591		33,286,933		25,736,140
Basic earnings per share	$	0.13	$	0.12	$	0.48	$	0.28
Diluted:
Net income available to common shareholders	$	4,441	$	2,996	$	16,105	$	7,213
Average basic shares outstanding		33,907,178		25,887,591		33,286,933		25,736,140
Restricted stock awards		286,362		138,102		237,785		158,741
Average diluted shares outstanding		34,193,540		26,025,693		33,524,718		25,894,881
Diluted earnings per share	$	0.13	$	0.12	$	0.48	$	0.28

Restricted stock awards include diluted impact of options calculated under the treasury method.