Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2017

Basic and diluted earnings per share (EPS)

The following table sets forth the computation of basic and diluted earnings per share (EPS) for the three months ended March 31, 2017 and 2016:



	Income (Numerator)		Shares (Denominator)	Per-Share Amount
For the three months ended March 31, 2017
Net income as reported	$	4,637,000
Basic EPS: Income available to common shareholders	4,637,000		10,734,281	$	0.43
Effect of dilutive securities: restricted stock			73,623
Diluted EPS: Income available to common shareholders plus assumed conversions	$	4,637,000	10,807,904	$	0.43
For the three months ended March 31, 2016
Net income as reported	$	4,503,000
Basic EPS: Income available to common shareholders	4,503,000		10,699,440	$	0.42
Effect of dilutive securities: restricted stock and warrants			95,672
Diluted EPS: Income available to common shareholders plus assumed conversions	$	4,503,000	10,795,112	$	0.42

Number of options and warrants outstanding and amount above or below the strike price

The following table presents the number of warrants outstanding as of March 31, 2016 and the amount for which the average market price at period end is above or below the strike price:

Outstanding

In-the-Money

Out-of-the-Money

For the three months ended March 31, 2016

Warrants issued to private parties