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Earnings Per Share
 9 Months Ended
Sep. 30, 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 September 30,
   2016  2015
Basic:   Income  Shares  Income  Shares
Net Income  $8,813    16,284   $6,743    16,202 
Preferred Dividend   (36)        (36)     
Earnings Applicable to Common Stock  $8,777    16,284   $6,707    16,202 
                     
Basic EPS  $0.54        $0.41      
                     
Diluted:                    
Earnings Applicable to Common Stock  $8,777    16,284   $6,707    16,202 
$7.00 Series Preferred Dividend   17    115    17    115 
$8.00 Series Preferred Dividend   6    41    6    41 
Adjusted Earnings Applicable to  Common Stock  $8,800    16,440   $6,730    16,358 
                     
Diluted EPS  $0.54        $0.41      

   (In Thousands Except per Share Amounts)
   Nine Months Ended September 30,
   2016  2015
Basic:   Income  Shares  Income  Shares
Net Income  $19,522    16,262   $15,467    16,161 
Preferred Dividend   (108)        (108)     
Earnings Applicable to Common Stock  $19,414    16,262   $15,359    16,161 
                     
Basic EPS  $1.19        $0.95      
                     
Diluted:                    
Earnings Applicable to Common Stock  $19,414    16,262   $15,359    16,161 
$7.00 Series Preferred Dividend   50    115    50    115 
$8.00 Series Preferred Dividend   18    41    18    41 
Adjusted Earnings Applicable to  Common Stock  $19,482    16,418   $15,427    16,317 
                     
Diluted EPS  $1.19        $0.95