XML 61 R10.htm IDEA: XBRL DOCUMENT
v2.4.1.9

EARNINGS PER SHARE | 3 Months Ended
--- | ---
Mar. 31, 2015
Earnings Per Share |
EARNINGS PER SHARE |
3. | EARNINGS PER SHARE
Basic and diluted earnings per share are computed by dividing net income by the weighted average number of shares outstanding during the respective periods. The basic and diluted calculations differ as a result of the dilutive effect of stock options and time lapse restricted shares included in diluted earnings per share, but excluded from basic earnings per share. The Company has periodically issued share-based payment awards that contain non-forfeitable rights to dividends and are therefore considered participating securities. A reconciliation of weighted average shares outstanding is as follows:
|  | Three months ended March 31, |
(In thousands except per share data ) |  | 2015 |  |  | 2014 |
Net income available for stockholders |  | $ | 2,929 |  |  | $ | 1,978 |
Less: Dividends paid |  |  | (1,532 | ) |  |  | (1,145 | )
Undistributed earnings |  | $ | 1,397 |  |  | $ | 833 |
Basic shares outstanding: |  |  |  |  |  |  |  |
Common stock |  |  | 35,784 |  |  |  | 35,746 |
Restricted shares of common stock |  |  | 1,244 |  |  |  | 1,212 |
|  |  | 37,028 |  |  |  | 36,958 |
Diluted shares outstanding: |  |  |  |  |  |  |  |
Common stock |  |  | 35,784 |  |  |  | 35,746 |
Dilutive effect of stock based awards |  |  | 236 |  |  |  | 297 |
|  |  | 36,020 |  |  |  | 36,043 |
Restricted shares of common stock |  |  | 1,244 |  |  |  | 1,212 |
|  |  | 37,264 |  |  |  | 37,255 |
Inclusion of all participating securities in the computation of Earnings Per Share (EPS) under the two-class method had no impact on the Basic EPS amounts reported. The effect of the Company’s stock options as shown below have been excluded from the computation of diluted earnings per share for the following periods, as their effect would have been anti-dilutive:
|  | Three months ended March 31, | Three months ended March 31,
(in thousands) |  | 2015 | 2014 | 2015 | 2014
Stock options |  | - | 42 | - | 42

X
- Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration