Earnings Per Common Share

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Net earnings available to common shareholders	$	3,946	$	3,271	$	10,624	$	6,407
Dividends on Series C preferred stock		90		100		190		200
Adjusted net earnings available to common shareholders	$	4,036	$	3,371	$	10,814	$	6,607
Weighted average number of common shares outstanding used in computation of basic earnings per common share		11,288		11,239		11,273		11,238
Effect of dilutive securities:
Stock options		89		40		81		45
Convertible preferred stock		546		560		543		563
Weighted average number of common shares outstanding plus effect of dilutive securities – used in computation of diluted earnings per share		11,923		11,839		11,897		11,846

Options to acquire 7,355 and 18,331 shares of common stock were not included in computing diluted earnings per share for the quarters and six months ended June 30, 2014 and 2013, respectively, because the effects of these shares were anti-dilutive as a result of the exercise price of such options.