Earnings Per Share

9 Months Ended

Sep. 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.

	Three Months Ended September 30,
	2014					2013
Basic:	Income			Shares			Income			Shares
Net Income	$	6,758			16,097		$	5,807			15,882
Preferred Dividend		(36	)					(44	)
Earnings Applicable to Common Stock	$	6,722			16,097		$	5,763			15,882
Basic EPS	$	0.42					$	0.36
Diluted:
Earnings Applicable to Common Stock	$	6,722			16,097		$	5,763			15,882
$7.00 Series Preferred Dividend		17			115			24			167
$8.00 Series Preferred Dividend		6			41			6			68
Adjusted Earnings Applicable to  Common Stock	$	6,745			16,253		$	5,793			16,117
Diluted EPS	$	0.42					$	0.36

	(In Thousands Except per Share Amounts)
	Nine Months Ended September 30,
	2014					2013
Basic:	Income			Shares			Income			Shares
Net Income	$	14,654			16,030		$	13,465			15,839
Preferred Dividend		(115	)					(147	)
Earnings Applicable to Common Stock	$	14,539			16,030		$	13,318			15,839
Basic EPS	$	0.91					$	0.84
Diluted:
Earnings Applicable to Common Stock	$	14,539			16,030		$	13,318			15,839
$7.00 Series Preferred Dividend		57			140			73			167
$8.00 Series Preferred Dividend		18			41			34			87
Adjusted Earnings Applicable to  Common Stock	$	14,614			16,211		$	13,425			16,093
Diluted EPS	$	0.90					$	0.83