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Earnings Per Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS PER SHARE

The computations of basic and diluted earnings per share follow:
 
 
For the Three Months Ended March 31,
 
 
2015
 
2014
Dollars in thousands,
except per share amounts
 
Income
(Numerator)
 
Common
Shares
(Denominator)
 
Per
Share
 
Income
(Numerator)
 
Common
Shares
(Denominator)
 
Per
Share
Net income
 
$
4,285

 
 
 
 
 
$
2,389

 
 
 
 
Less preferred stock dividends
 
—

 
 
 
 
 
(193
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic EPS
 
$
4,285

 
8,815,961

 
$
0.49

 
$
2,196

 
7,453,370

 
$
0.29

 
 
 
 
 
 
 
 
 
 
 
 
 
Effect of dilutive securities:
 
 
 
 
 
 

 
 
 
 
 
 

Stock options
 
 
 
8,567

 
 

 
 
 
9,762

 
 

Series 2011 convertible
preferred stock
 
—

 
1,158,250

 
 

 
119

 
1,491,250

 
 

Series 2009 convertible
preferred stock
 
—

 
510,545

 
 
 
74

 
674,545

 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted EPS
 
$
4,285

 
10,493,323

 
$
0.41

 
$
2,389

 
9,628,927

 
$
0.25



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 March 31, 2015 and 2014 totaled 128,900 shares and 143,000 shares, respectively.