Earnings Per Share

9 Months Ended

Sep. 30, 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 September 30,
	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	$	3,661				$	3,336
Less preferred stock dividends	—					(193		)
Basic EPS	$	3,661	10,703,526	$	0.34	$	3,143		7,457,222	$	0.42
Effect of dilutive securities:
Stock options			8,677						9,276
Stock appreciation rights			—						—
Series 2011 convertible preferred stock	—		—			119			1,489,250
Series 2009 convertible preferred stock	—		—			74			674,545
Diluted EPS	$	3,661	10,712,203	$	0.34	$	3,336		9,630,293	$	0.35

	For the Nine Months Ended September 30,
	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	$	11,956				$	8,158
Less preferred stock dividends	—					(580		)
Basic EPS	$	11,956	10,069,374	$	1.19	$	7,578		7,455,952	$	1.02
Effect of dilutive securities:
Stock options			8,608						9,547
Stock appreciation rights			—						—
Series 2011 convertible preferred stock	—		381,859			357			1,489,898
Series 2009 convertible preferred stock	—		168,298			223			674,545
Diluted EPS	$	11,956	10,628,139	$	1.12	$	8,158		9,629,942	$	0.85

Stock option and stock appreciation right (SAR) 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 September 30,2015 and 2014 totaled 128,900 shares and 143,000 shares, respectively, and our anti-dilutive SARs at September 30,2015 were 166,717.