Earnings Per Share

6 Months Ended

Jun. 30, 2015

Note 4 – Earnings Per Share

Basic earnings per share (EPS) are computed on the basis of the weighted average number of shares outstanding during the period presented. Diluted EPS assumes the conversion of both the Convertible Preferred Stock $7.00 Series and the Convertible Preferred Stock $8.00 Series.

	(In Thousands Except per Share Amounts)
	Three Months Ended June 30,
	2015					2014
Basic:	Income			Shares		Income			Shares
Net Income	$	5,089			16,149	$	4,728			16,018
Preferred Dividend		(36	)				(36	)
Earnings Applicable to Common Stock	$	5,053			16,149	$	4,692			16,018

Basic EPS	$	0.31				$	0.29

Diluted:
Earnings Applicable to Common Stock	$	5,053			16,149	$	4,692			16,018
$7.00 Series Preferred Dividend		17			115		17			140
$8.00 Series Preferred Dividend		6			41		6			41
Adjusted Earnings Applicable to Common Stock	$	5,076			16,305	$	4,715			16,199

Diluted EPS	$	0.31				$	0.29

	(In Thousands Except per Share Amounts)
	Six Months Ended June 30,
	2015					2014
Basic:	Income			Shares		Income			Shares
Net Income	$	8,724			16,141	$	7,897			15,996
Preferred Dividend		(72	)				(79	)
Earnings Applicable to Common Stock	$	8,652			16,141	$	7,818			15,996

Basic EPS	$	0.54				$	0.49

Diluted:
Earnings Applicable to Common Stock	$	8,652			16,141	$	7,818			15,996
$7.00 Series Preferred Dividend		34			115		41			153
$8.00 Series Preferred Dividend		12			41		12			41
Adjusted Earnings Applicable to Common Stock	$	8,698			16,297	$	7,871			16,190

Diluted EPS	$	0.53				$	0.49