Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2014

Basic earnings per share is computed by dividing net income available to common shareholders (net income less dividend requirements for preferred stock and accretion of preferred stock discount) by the weighted-average number of common shares outstanding. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The following table shows computation of basic and diluted earnings per share.


	Three Months Ended September 30				Nine Months Ended September 30
	2014		2013		2014		2013
	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
Basic earnings per share
Net income	$	4,958	$	4,785	$	13,153	$	15,761
Less: Preferred stock dividends and accretion of discount		40		66		102		308

Net income available to common shareholders	$	4,918	$	4,719	$	13,051	$	15,453

Weighted average common shares outstanding		9,208,707		8,618,969		9,009,663		8,617,972

Basic earnings per share	$	0.53	$	0.55	$	1.45	$	1.79

Diluted earnings per share
Net income available to common shareholders	$	4,918	$	4,719	$	13,051	$	15,453

Weighted average common shares outstanding		9,208,707		8,618,969		9,009,663		8,617,972
Effect of dilutive securities:
Warrants		309,790		314,353		308,647		299,704
Restricted stock		36,387		40,833		37,127		39,883
Stock options		33,448		45,056		33,922		41,069

Weighted average shares outstanding		9,588,332		9,019,211		9,389,359		8,998,628

Diluted earnings per share	$	0.51	$	0.52	$	1.39	$	1.72

At September 30, 2014 and 2013, there were 46,766 and no shares, respectively, which were not included in the computation of diluted earnings per share because they were non-dilutive.

Reclassifications

Reclassifications

Certain reclassifications have been made to the 2013 condensed consolidated financial statements to be comparable to 2014. These reclassifications had no effect on net income.

- Definition

Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.

+ References+ Details