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Earnings Per Share
 12 Months Ended
Dec. 31, 2014
Earnings Per Share  
Earnings Per Share

 

16. Earnings Per Share

 

Earnings per share of common stock is calculated on both a basic and diluted basis based on the weighted average number of common and common equivalent shares outstanding, excluding common shares in treasury.  Basic earnings per share excludes dilution and is computed by dividing income available to stockholders by the weighted average number of common shares outstanding for the period.  Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted from the issuance of common stock that then would share in earnings.

 

A reconciliation of the numerators and denominators used in basic and diluted earnings per share computations is presented in the table below.

 

 

 

Income/(Loss)

 

Shares

 

Per Share

 

 

 

(numerator)

 

(denominator)

 

Amount

 

 

 

(dollars in thousands, except share data)

 

For the year ended December 31, 2014:

 

 

 

 

 

 

 

Net income applicable to earnings per share

 

$
16,616 

 

 

 

 

 

Basic earnings per share: Income available to common stockholders

 
16,616 

 
17,046,660 

 

$
0.97 

 

Effect of dilutive securities: Warrants and stock option plans

 

—

 
297,317 

 

 

 

Diluted earnings per share: Income available to common stockholders

 

$
16,616 

 
17,343,977 

 

$
0.96 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2013:

 

 

 

 

 

 

 

Net income applicable to earnings per share

 

$
8,993 

 

 

 

 

 

Basic earnings per share: Income available to common stockholders

 
8,993 

 
15,798,885 

 

$
0.57 

 

Effect of dilutive securities: Warrants and stock option plans

 

—

 
811,069 

 

 

 

Diluted earnings per share: Income available to common stockholders

 

$
8,993 

 
16,609,954 

 

$
0.54 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2012:

 

 

 

 

 

 

 

Net income applicable to earnings per share

 

$
15,776 

 

 

 

 

 

Basic earnings per share: Income available to common stockholders

 
15,776 

 
10,571,073 

 

$
1.49 

 

Effect of dilutive securities: Warrants and stock option plans

 

—

 
412,961 

 

 

 

Diluted earnings per share: Income available to common stockholders

 

$
15,776 

 
10,984,034 

 

$
1.44