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Earnings Per Share
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

Note 9.  Earnings Per Share

We compute basic earnings per share based on the weighted average number of common shares outstanding during the relevant periods.  Diluted earnings per share also reflect dilutive potential common shares, including shares issuable under restricted stock units using the treasury stock method.  The calculation of basic and diluted earnings per share is as follows (Amounts in thousands except share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

 

2013

 

 

2012

 

 

2013

 

 

2012

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

    Net (Loss) Income

 

$
(2,222)

 

$
1,782 

 

$
1,290 

 

$
10,422 

    Preferred Stock Dividends

 

 
1,076 

 

 

 -

 

 
1,920 

 

 

 -

    Net (Loss) Income Available to Common Stockholders

 

$
(3,298)

 

$
1,782 

 

$
(630)

 

$
10,422 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

    Weighted Average Shares of Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

    Outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

         Basic

 

 
7,248,350 

 

 
7,203,860 

 

 
7,233,807 

 

 
7,192,818 

         Plus:

 

 

 

 

 

 

 

 

 

 

 

 

              Effect of dilutive restrictive stock

 

 

 -

*

 
17,041 

 

 

 -

*

 
16,068 

         Diluted

 

 
7,248,350 

 

 
7,220,901 

 

 
7,233,807 

 

 
7,208,886 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings Per Common Share:

 

 

 

 

 

 

 

 

 

 

 

 

    Net Income per share - Basic

 

$
(0.46)

 

$
0.25 

 

$
(0.09)

 

$
1.45 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Net Income per share - Diluted:

 

$
(0.46)

 

$
0.25 

 

$
(0.09)

 

$
1.45 

 

 

 

 

 

 

 

 

 

 

 

 

 

*  There are 63,161 and 35,695 incremental shares not included due to the fact it would be anti-dilutive for the three months and nine months ended September 30, 2013, respectively.