BASIC AND DILUTED EARNINGS PER COMMON SHARE

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

BASIC AND DILUTED EARNINGS PER COMMON SHARE

NOTE C — BASIC AND DILUTED EARNINGS PER COMMON SHARE

For each three month period ended March 31, 2016 and 2015, options to purchase 225,000 shares and 283,000 shares, respectively, were antidilutive and accordingly were excluded in determining diluted earnings per share.

	Three Months Ended
	March 31,
(Dollars in thousands, except per share data)	2016		2015
Basic:
Income available to common shareholders	$	3,966	$	5,859
Average basic shares outstanding		34,848,875		32,971,444
Basic earnings per share	$	0.11	$	0.18
Diluted:
Income available to common shareholders plus assumed conversions	$	3,966	$	5,859
Average basic shares outstanding		34,848,875		32,971,444
Restricted stock and stock options		604,093		164,174
Average diluted shares outstanding		35,452,968		33,135,618
Diluted earnings per share	$	0.11	$	0.18

The diluted impact of restricted stock and stock options is calculated under the treasury method.