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Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2015
Accounting Policies [Abstract]  
Earnings Per Share

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  
     March 31  
     2015      2014  
     (Unaudited)      (Unaudited)  

Basic earnings per share

      

Net income

    $ 5,358       $ 3,417   

Less: Preferred stock dividends

      31         31   
  

 

 

     

 

 

  

Net income available to common shareholders

 $ 5,327    $ 3,386   

Weighted average common shares outstanding

   9,216,011      8,630,966   

Basic earnings per share

 $ 0.58    $ 0.39   
  

 

 

     

 

 

  

Diluted earnings per share

Net income available to common shareholders

 $ 5,327    $ 3,386   

Weighted average common shares outstanding

   9,216,011      8,630,966   

Effect of dilutive securities:

Warrants

   321,652      311,278   

Restricted stock

   30,510      39,519   

Stock options

   41,333      40,023   
  

 

 

     

 

 

  

Weighted average shares outstanding

   9,609,506      9,021,786   

Diluted earnings per share

 $ 0.55    $ 0.38   
  

 

 

     

 

 

  

At March 31, 2015 and 2014, there were 62,445 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 2014 condensed consolidated financial statements to be comparable to 2015. These reclassifications had no effect on net income.