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General (Tables)
 6 Months Ended
Jun. 30, 2013
Calculation for Basic and Diluted Earnings per Common Share

The calculation for basic and diluted earnings per common share follows:

 

     Three Months Ended
June 30,		      Six Months Ended
June 30,		  
     2013      2012      2013      2012  
(Amounts in thousands, except share and per share data)                            

Net income

    $ 5,435       $ 4,078       $ 12,576       $ 10,079   

Dividends on preferred stock

      253         283         511         566   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income available to common shareholders

    $ 5,182       $ 3,795       $ 12,065       $ 9,513   

Weighted average common shares outstanding, basic

      19,997,991         18,561,714         20,015,247         18,205,545   

Diluted shares for stock options and restricted stock

      158,679         41,979         158,999         38,488   

Weighted average convertible preferred shares

      1,183,851         1,305,549         1,192,900         1,305,549   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding, diluted

      21,340,521         19,909,242         21,367,146         19,549,582   
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic earnings per common share

    $ 0.26       $ 0.20       $ 0.60       $ 0.52   

Diluted earnings per common share

    $ 0.25       $ 0.20       $ 0.59       $ 0.52   

Options to Purchase Company's Common Stock

The following outstanding options to purchase Common Stock were excluded from the calculation of diluted earnings per share because the exercise price was greater than the market value of the Common Stock, which would result in an antidilutive effect on diluted earnings per share:

 

     Three Months Ended
June 30,		      Six Months Ended
June 30,		  
     2013      2012      2013      2012  

Stock options

      337,693         451,915         337,693         451,915