Earnings and Dividends per Share (Tables)

6 Months Ended

Jun. 30, 2014

Earnings and Dividends per Share [Abstract]

Earnings and dividends per share

The computation of basic and diluted earnings per share for the three and six months ended June 30, 2014 and 2013 using the two-class method is as follows:

	Three Months Ended June 30						Six Months Ended June 30
(Dollars in thousands, except share and earnings per share amounts)	2014			2013			2014			2013
Net income	$	1,911		$	2,321		$	3,984		$	3,947
Less: net income allocable to participating securities		(3	)		(4	)		(7	)		(8	)
Net income attributable to common shares	$	1,908		$	2,317		$	3,977		$	3,939
Weighted average shares outstanding		13,641,564			13,531,007			13,619,055			13,543,690
Stock options (dilutive only)		18,293			5,896			17,228			5,320
Stock subscribed ("ESPP")		-			-			-			-
Retention awards		19,667			16,775			19,544			13,980
Stock subscribed ("LTEIP")		16,595			23,289			23,551			21,759
Total dilutive shares outstanding		13,696,119			13,576,967			13,679,378			13,584,749
Earnings per share:
Basic and diluted	$	0.14		$	0.17		$	0.29		$	0.29
Dividends per share	$	0.15		$	0.145		$	0.30		$	0.29

Shares outstanding on record date

Cash dividends are based on the number of common shares outstanding at their respective record dates. The number of shares outstanding as of the record date for the first and second quarters of 2014 and 2013, respectively, are as follows:

Shares outstanding on record date	2014	2013
First quarter (February 15)	13,612,913	13,586,903
Second quarter (May 15)	13,654,438	13,559,043