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Earnings per Share (Tables)
12 Months Ended
Dec. 31, 2013
Earnings per Share  
Schedule of calculations of basic and diluted earnings per share

 

2013

 

2012

 

2011

 

Basic earnings per common share:

 

 

 

 

 

 

 

Net income

 

$

4,974

 

$

2,822

 

$

2,857

 

Less:

 

 

 

 

 

 

 

Preferred stock dividends

 

337

 

1,125

 

1,513

 

Accretion of discount on preferred stock

 

278

 

659

 

476

 

Net income available to common shareholders

 

$

4,359

 

$

1,038

 

$

868

 

Basic earnings per share

 

$

0.87

 

$

0.21

 

$

0.17

 

 

 

 

 

 

 

 

 

Diluted earnings per common share:

 

 

 

 

 

 

 

Net income

 

$

4,974

 

$

2,822

 

$

2,857

 

Less:

 

 

 

 

 

 

 

Preferred stock dividends

 

337

 

1,125

 

1,513

 

Accretion of discount on preferred stock

 

278

 

659

 

476

 

Net income available to common shareholders

 

$

4,359

 

$

1,038

 

$

868

 

Average shares outstanding

 

5,032,679

 

5,032,679

 

5,032,679

 

Effect of dilutive stock options

 

0

 

0

 

0

 

Average shares outstanding including dilutive stock options

 

5,032,679

 

5,032,679

 

5,032,679

 

Diluted earnings per share

 

$

0.87

 

$

0.21

 

$

0.17

 

Summary of anti-dilutive shares

 

 

 

2013

 

2012

 

2011

 

Anti-dilutive shares - option shares

 

121,405

 

223,951

 

286,977

 

Anti-dilutive shares - warrant shares

 

 

298,618

 

298,618

 

Total anti-dilutive shares

 

121,405

 

522,569

 

585,595