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Income Per Common Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Income Per Common Share

Note 2: Income Per Common Share

 

    

Three Months Ended

March 31,

  
     2015     2014  
     (Dollars In Thousands, Except Per Share Amounts)  

Numerator:

     

Net income:

    $ 6,649      $ 11,641  

Dividends on Series B Preferred

      (240 )      (240 )

Dividends on Series D Preferred

      (60 )      (60 )
  

 

 

    

 

 

  

Total dividends on preferred stocks

   (300 )    (300 )
  

 

 

    

 

 

  

Numerator for basic net income per common share - net income applicable to common stock

   6,349      11,341  

Dividends on preferred stocks assumed to be converted, if dilutive

   60      300  
  

 

 

    

 

 

  

Numerator for diluted net income per common share

 $ 6,409    $ 11,641  
  

 

 

    

 

 

  

Denominator:

Denominator for basic net income per common share - weighted- average shares

   22,674,739      22,532,522  

Effect of dilutive securities:

Convertible preferred stocks

   250,000      916,666  

Stock options

   121,763      190,519  
  

 

 

    

 

 

  

Dilutive potential common shares

   371,763      1,107,185  
  

 

 

    

 

 

  

Denominator for dilutive net income per common share - adjusted weighted-average shares and assumed conversions

   23,046,502      23,639,707  
  

 

 

    

 

 

  

Basic net income per common share

 $ 0.28    $ 0.50  
  

 

 

    

 

 

  

Diluted net income per common share

 $ 0.28   $ 0.49  
  

 

 

    

 

 

  

The following weighted-average shares of securities were not included in the computation of diluted net income per common share as their effect would have been antidilutive:

 

    

Three Months Ended

March 31,

  
     2015      2014  

Convertible preferred stocks

      666,666         —     

Stock options

      700,388         280,000   
  

 

 

     

 

 

  
  1,367,054      280,000