Schedule of earnings per share reconciliation |
The following table illustrates the reconciliation of weighted average shares used for earnings per common share computations for the three and nine months ended September 30, 2013 and 2012:
| | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2013 | | 2012 | | 2013 | | 2012 | | (Dollars in thousands) | Net income: | | | | | | | | Net income | $ | 3,290 |
| | $ | 2,863 |
| | $ | 8,865 |
| | $ | 10,227 |
| Less: Dividends and undistributed earnings allocated to participating securities | (41 | ) | | (37 | ) | | (110 | ) | | (135 | ) | Net income allocated to common shareholders | $ | 3,249 |
| | $ | 2,826 |
| | $ | 8,755 |
| | $ | 10,092 |
| Basic: | | | | | | | | Weighted average common shares outstanding | 16,163,205 |
| | 15,149,292 |
| | 15,485,086 |
| | 15,301,868 |
| Less: Restricted stock awards | (204,992 | ) | | (194,405 | ) | | (187,828 | ) | | (177,911 | ) | Total basic weighted average common shares outstanding | 15,958,213 |
| | 14,954,887 |
| | 15,297,258 |
| | 15,123,957 |
| Diluted: | | | | | | | | Basic weighted average common shares outstanding | 15,958,213 |
| | 14,954,887 |
| | 15,297,258 |
| | 15,123,957 |
| Incremental shares from stock options | 10,854 |
| | 13,784 |
| | 11,983 |
| | 14,266 |
| Total diluted weighted average common shares outstanding | 15,969,067 |
| | 14,968,671 |
| | 15,309,241 |
| | 15,138,223 |
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Schedule of dividends activity |
The following table summarizes the dividend activity for the nine months ended September 30, 2013 and subsequent through the date of this filing.
| | | | | | | | | | Declared | | Cash Dividend per Share | | Record Date | | Paid or Payable | January 30, 2013 | | $ | 0.08 |
| | February 8, 2013 | | February 22, 2013 | April 24, 2013 | | $ | 0.08 |
| | May 10, 2013 | | May 24, 2013 | July 23, 2013 | | $ | 0.18 |
| | August 6, 2013 | | August 15, 2013 | October 23, 2013 | | $ | 0.08 |
| | November 5, 2013 | | November 15, 2013 |
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