Earnings Per Share

6 Months Ended

Jun. 30, 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 June 30,
	2014					2013
Basic:	Income			Shares		Income			Shares
Net Income	$	4,728			16,018	$	4,481			15,829
Preferred Dividend		(36	)				(51	)
Earnings Applicable to Common Stock	$	4,692			16,018	$	4,430			15,829
Basic EPS	$	0.29				$	0.28
Diluted:
Earnings Applicable to Common Stock	$	4,692			16,018	$	4,430			15,829
$7.00 Series Preferred Dividend		17			140		24			167
$8.00 Series Preferred Dividend		6			41		14			96
Adjusted Earnings Applicable to  Common Stock	$	4,715			16,199	$	4,468			16,092
Diluted EPS	$	0.29				$	0.28

	(In Thousands Except per Share Amounts)
	Six Months Ended June 30,
	2014					2013
Basic:	Income			Shares		Income			Shares
Net Income	$	7,897			15,996	$	7,658			15,818
Preferred Dividend		(79	)				(103	)
Earnings Applicable to Common Stock	$	7,818			15,996	$	7,555			15,818
Basic EPS	$	0.49				$	0.48
Diluted:
Earnings Applicable to Common Stock	$	7,818			15,996	$	7,555			15,818
$7.00 Series Preferred Dividend		41			153		49			167
$8.00 Series Preferred Dividend		12			41		28			96
Adjusted Earnings Applicable to  Common Stock	$	7,871			16,190	$	7,632			16,081
Diluted EPS	$	0.49				$	0.47