Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Note 4 – Earnings Per Share

Basic earnings per share (EPS) are computed on the basis of the weighted average number of shares outstanding during the period presented. Diluted EPS assumes the conversion of both the Convertible Preferred Stock $7.00 Series and the Convertible Preferred Stock $8.00 Series.

	(In Thousands Except per Share Amounts)
	Three Months Ended June 30,
	2013					2012
Basic:	Income			Shares		Income			Shares
Net Income	$	4,481			15,829	$	3,725			15,716
Preferred Dividend		(51	)				(51	)
Earnings Applicable to Common Stock	$	4,430			15,829	$	3,674			15,716
Basic EPS	$	0.28				$	0.23
Diluted:
Earnings Applicable to Common Stock	$	4,430			15,829	$	3,674			15,716
$7.00 Series Preferred Dividend		24			167		24			167
$8.00 Series Preferred Dividend		14			96		14			96
Adjusted Earnings Applicable to  Common Stock	$	4,468			16,092	$	3,712			15,979
Diluted EPS	$	0.28				$	0.23

	(In Thousands Except per Share Amounts)
	Six Months Ended June 30,
	2013					2012
Basic:	Income			Shares		Income			Shares
Net Income	$	7,658			15,818	$	5,532			15,704
Preferred Dividend		(103	)				(103	)
Earnings Applicable to Common Stock	$	7,555			15,818	$	5,429			15,704
Basic EPS	$	0.48				$	0.35
Diluted:
Earnings Applicable to Common Stock	$	7,555			15,818	$	5,429			15,704
$7.00 Series Preferred Dividend		49			167		49			167
$8.00 Series Preferred Dividend		28			96		28			96
Adjusted Earnings Applicable to  Common Stock	$	7,632			16,081	$	5,506			15,967
Diluted EPS	$	0.47				$	0.35