Note 13 - Earnings Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

13. EARNINGS PER SHARE

Basic earnings per common share was computed by dividing net income by the weighted average number of shares outstanding during the period. Diluted earnings per common share was calculated as follows:

	For the Year Ended December 31,
	2014		2013		2012
	(in thousands, except per share data)
Net income	$	13,491	$	5,915	$	2,179
Basic weighted average common shares outstanding		7,990		8,662		8,700
Dilutive effect of common stock equivalents		44		20		2
Diluted weighted average common shares outstanding		8,034		8,682		8,702
Basic earnings per share	$	1.69	$	0.68	$	0.25
Diluted earnings per share	$	1.68	$	0.68	$	0.25

Average options outstanding to purchase 14,915 and 227,199 shares of common stock for December 31, 2013 and 2012, respectively, were not included in the computation of diluted earnings per share because to do so would have an anti-dilutive effect.