Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic earnings per share (EPS), which excludes dilution, is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period.  Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, stock appreciation rights settled in stock or restricted stock awards, result in the issuance of common stock which shares in the earnings of the Company.  A reconciliation of the numerators and denominators of the basic and diluted EPS computations is as follows:

Basic Earnings Per Share	For the Quarter Ended March 31,
(In thousands, except share and per share amounts)	2014		2013
Net Income	$	2,616	$	1,783
Less: Preferred stock dividends and accretion	—		(87		)
Income available to common shareholders	$	2,616	$	1,696
Weighted average shares outstanding	10,915,945		9,558,985
Basic earnings per share	$	0.24	$	0.18

Diluted Earnings Per Share	For the Quarter Ended March 31,
(In thousands, except share and per share amounts)	2014		2013
Net Income	$	2,616	$	1,783
Less: Preferred stock dividends and accretion	—		(87		)
Income available to common shareholders	$	2,616	$	1,696
Weighted average shares outstanding	10,915,945		9,558,985
Effect of dilutive stock options	82,685		45,856
Weighted average shares of common stock and common stock equivalents	10,998,630		9,604,841
Diluted earnings per share	$	0.24	$	0.18

During the three month periods ended March 31, 2014 and 2013, options to purchase 122,640 and 305,069 shares of common stock, respectively, were not factored into the calculation of dilutive stock options because they were anti-dilutive.