Earnings Per Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Note 23 – Earnings Per Share

Basic earnings per share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustments to income that would result from assumed issuance. Potential common shares that may be issued by the Company relate solely from outstanding stock options, and are determined using the treasury stock method. Earnings per share have been computed based on the following:

Three months ended Six months ended

	Three months ended				Six months ended
	June 30,				June 30,
(in thousands)	2014		2013		2014		2013
Net income	$	4,859	$	6,325	$	12,224	$	14,802
Average number of common shares outstanding		16,129		16,028		16,113		16,015
Effect of dilutive stock options		181		107		203		98
Average number of common shares outstanding used to calculate diluted earnings per share		16,310		16,135		16,316		16,113
Options excluded from diluted earnings per share because the effect of these options was antidilutive		101		604		101		731