18. Earnings Per Share

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

The computations of basic and diluted earnings per share (“EPS”) follow:

	For the Year Ended December 31,
	2013						2012						2011
				Common						Common						Common
Dollars in thousands,	Income			Shares	Per		Income			Shares	Per		Income			Shares	Per
except per share amounts	(Numerator)			(Denominator)	Share		(Numerator)			(Denominator)	Share		(Numerator)			(Denominator)	Share
Net income	$	8,068					$	5,713					$	4,074
Less preferred stock
dividends		(775	)					(777	)					(371	)
Basic EPS	$	7,293		7,442,689	$	0.98	$	4,936		7,425,472	$	0.66	$	3,703		7,425,472	$	0.50
Effect of dilutive securities:
Stock options		-		7,532				-		1,152				-		-
Series 2011 convertible
preferred stock		478		1,496,738				480		1,500,000				74		238,182
Series 2009 convertible
preferred stock		297		674,545				297		674,545				297		674,545
Diluted EPS	$	8,068		9,621,504	$	0.84	$	5,713		9,601,169	$	0.60	$	4,074		8,338,199	$	0.49

Stock option grants and the convertible preferred shares are disregarded in this computation if they are determined to be anti-dilutive.  Our anti-dilutive stock options at December 31, 2013, 2012, and 2011, totaled 165,460 shares, 244,700 shares, and 312,180 shares, respectively.