| Computation of Basic and Diluted Earnings Per Share |
The following table sets forth the Company’s unaudited earnings per share calculations for the periods indicated:
|
|
Quarter Ended
September 30, 2015 |
|
|
Quarter Ended
September 30, 2014 |
|
|
(dollars in thousands, except per share amounts) |
Basic |
|
|
Diluted |
|
|
Basic |
|
|
Diluted |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
2,762 |
|
|
$ |
2,762 |
|
|
$ |
2,659 |
|
|
$ |
2,659 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic common shares outstanding |
|
12,623,924 |
|
|
|
12,623,924 |
|
|
|
7,735,350 |
|
|
|
7,735,350 |
|
|
Effect of contingent shares issuable |
|
|
|
|
|
796 |
|
|
|
|
|
|
|
64,000 |
|
|
Effect of options and restricted stock |
|
|
|
|
|
450,215 |
|
|
|
|
|
|
|
441,074 |
|
|
Diluted common shares outstanding |
|
|
|
|
|
13,074,935 |
|
|
|
|
|
|
|
8,240,424 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share |
$ |
0.22 |
|
|
$ |
0.21 |
|
|
$ |
0.34 |
|
|
$ |
0.32 |
|
|
|
Nine Months Ended
September 30, 2015 |
|
|
Nine Months Ended
September 30, 2014 |
|
|
(dollars in thousands, except per share amounts) |
Basic |
|
|
Diluted |
|
|
Basic |
|
|
Diluted |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
8,330 |
|
|
$ |
8,330 |
|
|
$ |
5,388 |
|
|
$ |
5,388 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic common shares outstanding |
|
9,534,056 |
|
|
|
9,534,056 |
|
|
|
7,734,372 |
|
|
|
7,734,372 |
|
|
Effect of contingent shares issuable |
|
|
|
|
|
796 |
|
|
|
|
|
|
|
64,000 |
|
|
Effect of options and restricted stock |
|
|
|
|
|
394,593 |
|
|
|
|
|
|
|
390,261 |
|
|
Diluted common shares outstanding |
|
|
|
|
|
9,929,445 |
|
|
|
|
|
|
|
8,188,633 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share |
$ |
0.87 |
|
|
$ |
0.84 |
|
|
$ |
0.70 |
|
|
$ |
0.66 |
|
|