Earnings Per Common Share

3 Months Ended

Mar. 31, 2014

Earnings Per Common Share [Abstract]

Earnings Per Common Share

5.  Earnings Per Common Share

Following is a summary of the information used in the computation of earnings per common share (in thousands):

	Three Months Ended March 31,
	2014		2013
Net earnings available to common shareholders	$	6,678	$	3,136
Dividends on Series C preferred stock		100		100
Adjusted net earnings available to common shareholders	$	6,778	$	3,236
Weighted average number of common shares outstanding used in computation of basic earnings per common share		11,258		11,238
Effect of dilutive securities:
Stock options		74		50
Restricted stock		-		13
Convertible preferred stock and warrants		547		565
Weighted average number of common shares outstanding plus effect of dilutive securities – used in computation of diluted earnings per share		11,879		11,866

Options to acquire 18,003 and 18,331 shares of common stock were not included in computing diluted earnings per share for the quarters ended March 31, 2014 and 2013, respectively, because the effects of these shares were anti-dilutive as a result of the exercise price of such options.