Earnings Per Share

6 Months Ended

Jun. 30, 2017

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,
	2017					2016
Basic:	Income			Shares		Income			Shares
Net Income	$	5,381			16,332	$	5,919			16,271
Preferred Dividend		(36	)				(36	)
Earnings Applicable to Common Stock	$	5,345			16,332	$	5,883			16,271
Basic EPS	$	0.33				$	0.36
Diluted:
Earnings Applicable to Common Stock	$	5,345			16,332	$	5,883			16,271
$7.00 Series Preferred Dividend		17			115		17			115
$8.00 Series Preferred Dividend		6			41		6			41
Adjusted Earnings Applicable to  Common Stock	$	5,368			16,488	$	5,906			16,427
Diluted EPS	$	0.33				$	0.36

	(In Thousands Except per Share Amounts)
	Six Months Ended June 30,
	2017					2016
Basic:	Income			Shares		Income			Shares
Net Income	$	9,822			16,316	$	10,709			16,252
Preferred Dividend		(72	)				(72	)
Earnings Applicable to Common Stock	$	9,750			16,316	$	10,637			16,252
Basic EPS	$	0.60				$	0.65
Diluted:
Earnings Applicable to Common Stock	$	9,750			16,316	$	10,637			16,252
$7.00 Series Preferred Dividend		34			115		34			115
$8.00 Series Preferred Dividend		12			41		12			41
Adjusted Earnings Applicable to  Common Stock	$	9,796			16,472	$	10,683			16,408
Diluted EPS	$	0.59				$	0.65