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Earnings Per Share
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share

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 March 31,
2016 2015
Basic: Income Shares Income Shares
Net Income $4,790   16,233  $3,636   16,132 
Preferred Dividend  (36)      (36)    
Earnings Applicable to Common Stock $4,754   16,233  $3,600   16,132 
                 
Basic EPS $0.29      $0.22     
                 
Diluted:                
Earnings Applicable to Common Stock $4,754   16,233  $3,600   16,132 
$7.00 Series Preferred Dividend  17   115   17   115 
$8.00 Series Preferred Dividend  6   41   6   41 
Adjusted Earnings Applicable to  Common Stock $4,777   16,389  $3,623   16,288 
                 
Diluted EPS $0.29      $0.22