Earnings Per Share

3 Months Ended

Mar. 31, 2014

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 March 31,
	2014					2013
Basic:	Income			Shares		Income			Shares
Net Income	$	3,169			15,974	$	3,177			15,806
Preferred Dividend		(43	)				(52	)
Earnings Applicable to Common Stock	$	3,126			15,974	$	3,125			15,806
Basic EPS	$	0.20				$	0.20
Diluted:
Earnings Applicable to Common Stock	$	3,126			15,974	$	3,125			15,806
$7.00 Series Preferred Dividend		24			163		24			167
$8.00 Series Preferred Dividend		6			41		14			96
Adjusted Earnings Applicable to  Common Stock	$	3,156			16,178	$	3,163			16,069
Diluted EPS	$	0.20				$	0.20