XML 56 R29.htm IDEA: XBRL DOCUMENT v2.4.1.9
Earnings Per Share
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS PER SHARE

The computations of basic and diluted earnings per share follow:

 
For the Year Ended December 31,
 
2014
 
2013
 
2012
 
 
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
$
11,356

 
 
 
$
8,068

 
 
 
$
5,713

 
 
Less preferred stock dividends
(771
)
 
 
 
(775
)
 
 
 
(777
)
 
 
Basic EPS
$
10,585

7,539,444

$
1.40

 
$
7,293

7,442,689

$
0.98

 
$
4,936

7,425,472

$
0.66

Effect of dilutive securities:
 

 

 

 
 

 

 

 
 

 

 

Stock options
 
9,381

 

 
 
7,532

 

 
 
1,152

 

Series 2011 convertible preferred stock
476

1,489,735

 

 
478

1,496,738

 

 
480

1,500,000

 

Series 2009 convertible
preferred stock
295

673,001

 

 
297

674,545

 

 
297

674,545

 

Diluted EPS
$
11,356

9,711,561

$
1.17

 
$
8,068

9,621,504

$
0.84

 
$
5,713

9,601,169

$
0.60


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, 2014, 2013, and 2012, totaled 128,900 shares, 165,460 shares, and 244,700 shares, respectively.