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Earning Per Share
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 15 – EARNINGS PER SHARE

The factors used in the earnings per share computation follow:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income to common stockholders

 

$

9,495

 

 

$

236

 

 

$

14,928

 

 

$

521

 

Weighted average common shares outstanding

 

 

9,872,923

 

 

 

8,800,670

 

 

 

9,850,640

 

 

 

8,078,476

 

Basic earnings per common share

 

$

0.96

 

 

$

0.03

 

 

$

1.52

 

 

$

0.06

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income to common stockholders

 

$

9,495

 

 

$

236

 

 

$

14,928

 

 

$

521

 

Dilutive effect of preferred stock

 

 

197

 

 

 

—

 

 

 

583

 

 

 

—

 

Net income to common stockholders - diluted

 

$

9,692

 

 

$

236

 

 

$

15,511

 

 

$

521

 

Weighted average common shares outstanding for basic earnings per common share

 

 

9,872,923

 

 

 

8,800,670

 

 

 

9,850,640

 

 

 

8,078,476

 

Add:  Dilutive effects of restricted stock units

 

 

—

 

 

 

6,773

 

 

 

6,059

 

 

 

3,328

 

Add:  Dilutive effects of assumed exercises of stock warrants

 

 

52,881

 

 

 

—

 

 

 

52,881

 

 

 

—

 

Add:  Dilutive effects of assumed conversion of Preferred A

 

 

315,773

 

 

N/A

 

 

 

315,773

 

 

N/A

 

Add:  Dilutive effects of assumed conversion of Preferred B

 

 

360,578

 

 

N/A

 

 

 

360,578

 

 

N/A

 

Average shares and dilutive potential common shares

 

 

10,602,155

 

 

 

8,807,443

 

 

 

10,585,931

 

 

 

8,081,804

 

Dilutive earnings per common share

 

$

0.91

 

 

$

0.03

 

 

$

1.47

 

 

$

0.06

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares that were not considered in computing diluted earnings per common share because they were antidilutive are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

Restricted stock units

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Warrants

 

 

—

 

 

 

259,067

 

 

 

—

 

 

 

259,067

 

Shares assumed to be converted from Preferred Stock Series A

 

 

—

 

 

N/A

 

 

 

—

 

 

N/A

 

Shares assumed to be converted from Preferred Stock Series B

 

 

—

 

 

N/A

 

 

 

—

 

 

N/A