Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Earnings Per Share Reconciliation

The following table shows: 1) weighted average basic shares, 2) potentially dilutive common shares related to stock options, unvested restricted stock awards and stock warrant, and 3) weighted average diluted shares. Basic earnings per share (“EPS”) are calculated by dividing net income by the weighted average number of common shares outstanding during each period, excluding unvested restricted stock awards. Diluted EPS are calculated using the weighted average number of potentially dilutive common shares, which is based on the average market prices during the three months of the reporting period, under the treasury stock method. The number of potentially dilutive common shares included in year-to-date diluted EPS is a year-to-date weighted average of potentially dilutive common shares included in each quarterly diluted EPS computation. We have two forms of outstanding stock: common stock and unvested restricted stock awards. Holders of unvested restricted stock awards receive non-forfeitable dividends at the same rate as common shareholders and they both share equally in undistributed earnings. Therefore, under the two-class method, the difference in EPS is not significant for these participating securities.



	Three months ended				Six months ended
(in thousands, except per share data; unaudited)	June 30, 2015		June 30, 2014		June 30, 2015		June 30, 2014
Weighted average basic shares outstanding	5,945		5,888		5,933		5,879
Add: Potentially dilutive common shares related to stock options	41		40		44		42
Potentially dilutive common shares related to unvested restricted stock	3		2		4		4
Potentially dilutive common shares related to the warrant	73		63		74		62
Weighted average diluted shares outstanding	6,062		5,993		6,055		5,987

Net income	$	4,286	$	5,168	$	8,743	$	9,701
Basic EPS	$	0.72	$	0.88	$	1.47	$	1.65
Diluted EPS	$	0.71	$	0.86	$	1.44	$	1.62

Weighted average anti-dilutive shares not included in the calculation of diluted EPS	41		54		34		44