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Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Basic and diluted earnings per share (EPS)
The following table provides detail for basic earnings per share (EPS) and diluted earnings per share for the years ended December 31, 2016, 2015 and 2014:
 
Income
(Numerator)
 
Shares
(Denominator)
 
Per-Share
Amount
For the year ended December 31, 2016
 
 
 
 
 
Net income as reported
$
18,009,000

 
 
 
 
Basic EPS: Income available to common shareholders
18,009,000

 
10,713,290

 
$
1.68

Effect of dilutive securities: restricted stock and warrants
 
 
116,512

 
 
Diluted EPS: Income available to common shareholders plus assumed conversions
$
18,009,000

 
10,829,802

 
$
1.66

For the year ended December 31, 2015
 
 
 
 
 
Net income as reported
$
16,206,000

 
 
 
 
Basic EPS: Income available to common shareholders
16,206,000

 
10,674,755

 
$
1.52

Effect of dilutive securities: restricted stock and warrants
 
 
90,114

 
 
Diluted EPS: Income available to common shareholders plus assumed conversions
$
16,206,000

 
10,764,869

 
$
1.51

For the year ended December 31, 2014
 
 
 
 
 
Net income as reported
$
14,709,000

 
 
 
 
Basic EPS: Income available to common shareholders
14,709,000

 
10,638,527

 
$
1.38

Effect of dilutive securities: restricted stock and warrants
 
 
72,337

 
 
Diluted EPS: Income available to common shareholders plus assumed conversions
$
14,709,000

 
10,710,864

 
$
1.37

Number of options and warrants outstanding and amount above or below the strike price
The following table presents the number of options and warrants outstanding as of December 31, 2016, 2015 and 2014 and the amount which are above or below the strike price:
 
Outstanding
In-the-Money
Out-of-the-Money
As of December 31, 2016
 
 
 
Incentive stock options



Warrants issued to private parties



Total dilutive securities



As of December 31, 2015
 
 
 
Incentive stock options



Warrants issued to private parties
226,819

226,819


Total dilutive securities
226,819

226,819


As of December 31, 2014
 
 
 
Incentive stock options
42,000


42,000

Warrants issued to U.S. Treasury
225,904

225,904


Total dilutive securities
267,904

225,904

42,000